Aave Companies Rebrands to Avara, Expanding its Reach in the Web3 Ecosystem
In an effort to attract a broader user base within the Web3 ecosystem, decentralized finance (DeFi) group Aave Companies has rebranded itself as Avara. The rebrand comes as Aave Companies expands its offerings, including the liquidity protocol Aave, the GHO stablecoin, Lens Protocol, and Sonar.
Stani Kulechov, founder and CEO of Avara, explains that the company needed an umbrella brand with a broader Web3 appeal due to its growing number of products and services. The goal is to continue innovating within the DeFi space while creating intuitive and compelling products that can attract mainstream users.
Kulechov notes that the industry as a whole has been focused on building infrastructure to enable the development of products that appeal to a wide range of users. The rebranding of Aave Companies to Avara signifies the beginning of a new era where blockchain technology becomes more accessible, usable, and enjoyable for everyone.
The inspiration for the new identity, according to Kulechov, comes from the Finnish word “Avara,” which means “extensive,” “open,” “spacious,” and “inclusive.” It also colloquially means “seeing more than you see.”
Aave Labs will continue to operate under the Aave brand and will remain focused on contributing to technological innovations within the DeFi landscape. The acquisition of Los Feliz Engineering (LFE) and its flagship self-custodial Ethereum wallet, Family Wallet, aligns with Avara’s expansion. With this strategic deal, Avara’s product suite now includes a consumer wallet that allows users to send, receive, swap, and hold cryptocurrencies.
The acquisition also includes ConnectKit, a developer library built by Family Wallet to facilitate connectivity between the wallet service and decentralized applications. The LFE team, led by CEO and founder Benji Taylor, will join Avara. Taylor will assume the role of senior vice president of product and design.
Avara aims to leverage LFE’s experience in building the messaging application Honk to further develop Lens Protocol. The goal of Lens Protocol is to create a social layer for the wider Web3 ecosystem, connecting users across a decentralized social networking environment and providing developer tools to build applications and communities.
With the rebranding of Aave Companies to Avara and the strategic acquisition of LFE, Avara is positioning itself to be a major player in the Web3 ecosystem, offering a wide range of DeFi products and services that cater to both developers and mainstream users.