Aave Companies rebrands to Avara, acquires Ethereum self-custody ‘Family Wallet’
Liquidity protocol Aave’s parent company has been rebranded to Avara as it looks to streamline its suite of infrastructure products to attract a broader Web3 user base.
Decentralized finance (DeFi) organization Aave Companies has undergone a rebranding, now operating under the name Avara. The move is aimed at expanding its user base within the broader Web3 ecosystem. Stani Kulechov, founder and CEO of Avara, emphasized that the company's diverse range of offerings, including the Aave liquidity protocol, GHO stablecoin, Lens Protocol, and Sonar, necessitated a more inclusive brand to attract a wider audience in the evolving Web3 landscape. The rebranding aligns with Avara's commitment to innovation in DeFi and the development of tools for developers while introducing intuitive and compelling products for mainstream users.
The name Avara draws inspiration from the Finnish word, meaning "extensive," "open," "spacious," and "inclusive." Stani Kulechov expressed a vision for a new era where blockchain technology becomes more accessible, usable, and enjoyable for a diverse user base. The Avara founder highlighted that Aave, the liquidity protocol, will continue under the same brand name through Aave Labs, maintaining its focus on technological advancements within the DeFi sector. Alongside the rebranding, Avara announced the acquisition of Los Feliz Engineering (LFE), bringing the self-custodial Ethereum wallet, Family Wallet, into its product suite. This strategic move expands Avara's offerings to include a consumer wallet for sending, receiving, swapping, and holding cryptocurrencies. The acquisition also includes ConnectKit, a developer library to enhance connectivity between the Family Wallet and decentralized applications. The LFE team, led by CEO Benji Taylor, will join Avara, contributing to the continued development of Lens Protocol, which aims to serve as a social layer for the wider Web3 ecosystem, connecting users across decentralized social networks and providing developer tools for applications and communities.