Avara, formerly known as Aave Companies, has announced a significant rebranding as part of its strategy to extend its influence within the Web3 space and attract a wider range of users.
Stani Kulechov, the CEO and founder of the newly named Avara, explained that the company’s expanding portfolio, which includes the Aave liquidity protocol, GHO stablecoin, Lens Protocol, and Sonar, necessitated a brand that could encapsulate its growing presence in the Web3 sector. This rebranding marks a shift towards making blockchain technology more accessible, user-friendly, and engaging for a wider audience.
The choice of the name ‘Avara’ is inspired by its Finnish roots, meaning “extensive,” “open,” “spacious,” and “inclusive,” and is often used to suggest a broader perspective or vision.
In a strategic move coinciding with its rebranding, Avara has acquired Los Feliz Engineering (LFE) and its flagship product, the Family Wallet, a self-custodial Ethereum wallet. This acquisition widens Avara’s suite of products to include a consumer wallet that allows for the sending, receiving, swapping, and holding of cryptocurrencies.
Additionally, the acquisition includes ConnectKit, a developer library developed by Family Wallet, which aims to streamline the integration between the wallet service and various decentralized applications. The LFE team, led by CEO and founder Benji Taylor, will be joining Avara, with Taylor taking on the role of Senior Vice President of Product and Design.
Avara is set to utilize LFE’s expertise, particularly in the development of the messaging application Honk, to further enhance the Lens Protocol.
The Lens Protocol is designed to serve as a decentralized social networking layer within the Web3 ecosystem, connecting users and providing developers with the necessary tools to build new applications and communities. This acquisition and the ongoing development of the Lens Protocol are part of Avara’s wider strategy to innovate and expand within the DeFi and Web3 sectors.Aave Companies rebrands to Avara, acquires Ethereum self-custody ‘Family Wallet’
