In a decisive move signaling its commitment to a dynamic future in the web3 landscape, Aave Companies has undergone a transformative rebranding, emerging as Avara. Founder Stani Kulechov affirmed that this rebrand marks the definitive evolution of the company’s identity.
Avara now oversees a robust portfolio, encompassing the acclaimed Aave Protocol, Aave Labs, stablecoin GHO, and the decentralized social network protocol Lens. With a substantial $8.66 billion in liquidity locked across diverse networks, Avara continues to wield significant influence in the decentralized finance (DeFi) space.
The Aave Protocol, now under the Aave Labs brand within Avara, boasts an impressive total value locked (TVL) of $9.2 billion on Ethereum, showcasing the company’s adaptability in the evolving blockchain landscape.
We are excited to announce today our rebranding to Avara and the acquisition of @family to bring the next wave of adoption to web3 https://t.co/vEDrsviJvD
— Stani^ (@StaniKulechov) November 16, 2023
In a strategic move, Avara has acquired Los Feliz Engineering (LFE), the developers behind the Ethereum-based crypto wallet, Family. This acquisition not only expands Avara’s presence in the web3 sphere but also provides users with a user-friendly gateway to decentralized applications. The Family crypto wallet, currently in beta, plays a crucial role in Avara’s mission to facilitate seamless entry into the web3 ecosystem.
We’re excited to announce that Family has been acquired by Avara (@avara), the team behind @aave, @lensprotocol, and more! The Family brand, wallet, and ConnectKit will all continue to evolve under the Avara umbrella. Learn more → https://t.co/3JQAfJIeIL pic.twitter.com/EbOVS0mWxS
— Family (@family) November 16, 2023
This acquisition follows Avara’s earlier move in December 2022, acquiring Sonar, a metaverse mobile application, reinforcing the company’s commitment to a visionary approach extending beyond the realm of DeFi. Benji Taylor, the founder of LFE, will join Avara as the senior vice president of product and design, ensuring the continued enhancement of the Family wallet’s unique features.
