Aave's parent company renamed to "Avara" and acquired the developer of the cryptocurrency wallet "Family".
The parent company of the lending protocol Aave has announced a rebranding, with founder Stani Kulechov also revealing the future direction of the parent company and the significance behind the brand reshaping.
Table of Contents
Brand Update: Aave Rebrands to Avara
According to an official announcement, Aave Companies has been rebranded as Avara, encompassing various blockchain projects:
Lending protocol Aave
Web3 social protocol Lens Protocol
Decentralized over-collateralized stablecoin GHO
Social metaverse project Sonar
Aave Labs, now through Avara, will remain deeply committed to advancing decentralized finance.
Stay tuned. https://t.co/8UX2twuZOA
— Aave Labs (@aave) November 16, 2023
Why Avara?
Avara founder Stani Kulechov explained in a press release:
The rebranding and acquisition signify our desire to do more, especially to bring users more applications beyond DeFi through Web3. "Avara" in Finnish slang means "seeing more than you."
This metaphor implies that Avara aims to possess keen observation skills, to perceive deeper meanings in things, or to discover details that others may overlook.
Avara's Second Acquisition in History
According to the official announcement from the cryptocurrency wallet app Family announcement, Avara has acquired its parent company Los Feliz Engineering, with the following key points:
All members of Los Feliz Engineering will join Avara
Family founder Benji Taylor will join Avara as Senior Vice President of Product and Design
This marks Avara's second strategic acquisition following the purchase of the social metaverse project Sonar last December.
Aave Acquires Social Metaverse "Sonar"! Learn How to Play with Emojis in the Digital Space