Aave Companies, a decentralized finance (DeFi) group, has been rebranded to Avara to expand its user base across the Web3 ecosystem.
Avara aims to attract a wider Web3 user base.
Stani Kulechov, founder and CEO of Avara (formerly Aave Companies), said the company’s growing number of offerings This includes liquidity protocol Aave , GHO stablecoin , Lens Protocol and Sonar , requiring a core brand to have broader Web3 appeal.
“We will continue to innovate in DeFi and build tools for developers while creating new, easy-to-use and engaging products that appeal to a broad audience.”
Kulechov added: It will focus on building the infrastructure to enable the development of products that appeal to a broad user base. The rebrand marks the beginning of a “new era” in which blockchain technology is “more accessible, usable and fun.”
The word Avara is inspired by a Finnish word that has several definitions, including “extensive,” “open,” and “inclusive,” and in colloquial terms means “See more than you see”
Kulechov also noted that Aave’s liquidity protocol will continue under the same brand name through Aave Labs and continue to focus on contributing to technological innovation within the DeFi market.
The rebrand announcement coincides with the acquisition of Los Feliz Engineering (LFE) and Family Wallet, a self-custodial Ethereum wallet. This enables Avara’s suite of products to enable consumers to send, receive, exchange, and hold cryptocurrencies.
The acquisition also includes ConnectKit, a developer library created by Family Wallet to facilitate connections between wallet services and decentralized applications, by LFE’s team, including CEO Benji Taylor. and founder Will join Avara
refer : cointelegraph.com
picture nftgators.com
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