Aave Companies has undergone a rebranding, transforming into Avara, to extend its reach across the Web3 ecosystem.
Stani Kulechov, Avara’s founder and CEO, explained that the expansion of offerings, including Aave liquidity protocol, GHO stablecoin, Lens Protocol, and Sonar, prompted the need for a more inclusive umbrella brand with a broader Web3 appeal.
“We will continue to innovate in DeFi and build tools for developers while creating new, intuitive and compelling products that attract mainstream people.”
The rebrand aligns with the industry’s focus on creating infrastructure for products that cater to a diverse user base, marking the onset of a new era in which blockchain technology becomes more accessible and user-friendly. Inspired by the Finnish word “Avara,” meaning extensive, open, spacious, and inclusive, Avara aims to innovate in DeFi, build tools for developers, and develop intuitive products for mainstream adoption.
The rebrand announcement coincides with Avara’s acquisition of Los Feliz Engineering (LFE), including its self-custodial Ethereum wallet, Family Wallet, and the developer library ConnectKit. This strategic move enables Avara to offer a comprehensive product suite, including a consumer wallet for sending, receiving, swapping, and holding cryptocurrencies. The acquisition also brings LFE’s team, led by CEO Benji Taylor, who assumes the role of Senior Vice President of Product and Design.
Avara plans to leverage LFE’s experience in developing the messaging app Honk for advancing the Lens Protocol, aiming to be a social layer within the broader Web3 ecosystem, connecting users across decentralized social networks and providing developer tools for applications and communities.