Aave Companies, the parent company of liquidity protocol Aave, has rebranded to Avara in order to attract a broader user base in the Web3 ecosystem. The company’s CEO, Stani Kulechov, stated that the rebranding was necessary due to the growing number of offerings and the need for an umbrella brand with wider appeal. The company aims to continue innovating in DeFi and building tools for developers while creating new products that attract mainstream users. The rebranding marks the beginning of a new era where blockchain technology becomes more accessible and fun. The name “Avara” was chosen because it carries meanings such as “extensive,” “open,” “spacious,” and “inclusive.” Aave Labs will continue to operate under the same brand name and focus on technological innovations in DeFi. In addition to the rebranding, Avara has acquired Los Feliz Engineering (LFE) and its self-custodial Ethereum wallet, Family Wallet. This strategic deal expands Avara’s product suite to include a consumer wallet and developer library for connectivity with decentralized applications. The acquisition also brings LFE’s team, including CEO Benji Taylor, who will take on the role of senior vice president of product and design. Avara plans to leverage LFE’s experience in building messaging application Honk to further develop Lens Protocol, a social layer for the Web3 ecosystem.
