From the article

" Casey Newton at Platformer reports he has e-mail confirmation from Meta that:

[Meta is] exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests (Source).

Their new app is codenamed P92, and according to a separate report by Moneycontrol:

… will support ActivityPub, the decentralised social networking protocol powering Twitter rival Mastodon and other federated apps (Source).

It will also:

be Instagram-branded and will allow users to register/login to the app through their Instagram credentials.

"