Aave Companies’ founder, Stani Kulechov, has unveiled a major rebranding initiative. The network, formerly known as Aave, has adopted the name Avara. It marks a new chapter in its journey. This rebranding signals Avara’s expanded mission to deliver cutting-edge Web3 solutions globally, catering to diverse use cases.
From EthLend to Aave: The Evolution of a DeFi Giant
Aave’s transformation from EthLend to Aave was more than a mere name change; it was a strategic shift to accommodate its broadening scope and ambitions. This evolution continues with the transition to Avara. “Avara,” rooted in Finnish, means “to see more than you can see.” It aptly reflects the company’s vision to explore beyond the conventional boundaries of DeFi and Web3 technologies.
Despite the rebranding, core components of the Aave ecosystem, such as Aave Labs, Aave Protocol, and the AAVE token, will retain their original names. The GHO stablecoin also remains unchanged, ensuring continuity and stability within the Aave community.
Under Kulechov’s leadership, Avara will dedicate significant resources to the Lens Protocol. This innovative social network protocol marks a leap forward in the Web3 space, offering an interface that blends familiarity with the pioneering spirit of decentralized social media. The Lens Protocol allows developers to build applications on a decentralized platform, revolutionizing social interactions in the digital realm.
Avara’s Strategic Acquisition: Los Feliz Engineering
Avara’s recent acquisition of Los Feliz Engineering signifies its commitment to expanding its Web3 and DeFi capabilities. Los Feliz Engineering, known for creating the developer Library ConnectKit and a self-custodial mobile wallet for Ethereum tokens, brings valuable expertise to the Avara team. Benji Taylor, former CEO of Family and now SVP of Product & Design at Avara, is crucial in steering the company towards its Web3-focused objectives.
While Avara is poised to explore new frontiers in Web3 and social media, Kulechov emphasizes the company’s ongoing dedication to the DeFi sector. Avara continues to lead initiatives like the Aave V3 update and the introduction of the GHO stablecoin, reinforcing its commitment to advancing DeFi technologies.
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