Aave parent company rebrands to Avara, adds crypto Family Wallet to offerings
Founder Stani Kulechov said the name change does not affect Aave as a lending protocol and that its latest acquisition focuses on propelling mass web3 adoption. Aave Companies, the entity behind Aave protocol (AAVE) and Aave Labs, rebranded to Avara as founder Stani Kulechov disclosed a strategy aimed at bootstrapping adoption for decentralized finance (defi) solutions. In addition to the name change, which Kulechov said is final, Avara also acquired a team of blockchain developers called Los Feliz Engineering. Los Feliz built an Ethereum-based wallet currently available in beta. The deal’s financial terms were not currently public knowledge. Kulechov said both moves align with the company’s vision of onboarding more users onto web3 platforms by offering familiar tools powered by on-chain technology. “We really want to send a signal,” said Kulechov, whose lending protocol is the largest in defi with $5.7 billion in total value locked per DefiLlama data. ...