Lift is a functional web framework that has reached its 1.0 version milestone, celebrated by its creator, @dpp, and contributors. Lift is designed to be expressive and elegant, focusing on security, maintainability, scalability, and performance, while enhancing developer productivity. It is open-source software available under the Apache 2.0 license and is hosted on GitHub. Chris Wanstrath, also known as @defunkt, highlights these aspects of Lift in his announcement.