Stani Kulechov, the creator of Aave Companies, has revealed a rebranding effort for the network of blockchain entities and ventures he established.
The new name, Avara, signifies the organization’s expanded mission to extend beyond decentralized finance (DeFi) and introduce Web3 to a global audience with diverse use cases. Avara, previously known as EthLend before evolving beyond its initial goals, is adapting its identity to better reflect its broader vision and outreach.
Avara Unveils New Vision: Beyond DeFi to Web3 Integration
Stani Kulechov, the founder of Aave Companies, has introduced a rebranding effort, renaming the network of blockchain entities to Avara. The name, derived from the Finnish word meaning “to see more than you can see,” reflects the organization’s expanded mission. While Aave Labs, Aave Protocol, the AAVE token, and the GHO stablecoin maintain their names, the overarching goal for Avara is to extend beyond decentralized finance (DeFi) and usher in Web3 for a global audience with diverse use cases.
One notable focus for Avara in recent months has been the Lens Protocol, a social network protocol for Web3. Stani Kulechov emphasized the significance of creating a familiar interface on existing infrastructure, enabling user interaction in a way that feels comfortable. The Lens Protocol aims to facilitate decentralized social media, allowing developers to build applications on top of this foundation.
A significant development for Avara is the acquisition of Los Feliz Engineering, the team behind Family, known for projects like the developer Library ConnectKit and a self-custodial mobile wallet for Ethereum tokens. Benji Taylor, former CEO of Family, will take on the role of SVP of Product & Design at Avara, leading the charge in bringing Web3 to a broader audience.
While emphasizing their commitment to advancing decentralized finance, Kulechov assured that Avara has no plans to abandon the DeFi space and the projects it has established. The recent Aave V3 update and the launch of the Aave-native GHO stablecoin exemplify their dedication to technological innovations in the DeFi sector. Avara aims to position itself as the go-to protocol for integrating Web3 capabilities into various projects, maintaining a versatile approach regardless of project nature.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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