Aave rebrands into Avara and acquires Family Wallet

10:22 pm
November 16, 2023

**Summary:**
Aave Companies has undergone a rebranding and transformation, now known as Avara, with a diversified portfolio including Aave Protocol, Aave Labs, stablecoin GHO, and decentralized social network protocol Lens. Avara has strategically acquired Los Feliz Engineering (LFE), the development team behind the Family crypto wallet, to broaden its reach in the web3 space.

Avara’s Robust Portfolio:
Avara oversees a diverse portfolio of entities, including the renowned Aave Protocol, Aave Labs, stablecoin GHO, and the decentralized social network protocol Lens. Aave’s impact in the decentralized finance (DeFi) space remains substantial.

Strategic Acquisition of Family Wallet:
Avara has strategically acquired Los Feliz Engineering (LFE), the development team behind the Ethereum-based crypto wallet, Family. This move broadens Avara’s influence in the web3 space and aims to provide users with a user-friendly gateway to interact with decentralized applications.

FAQs:
1. What is the significance of Aave’s rebranding into Avara?
Aave’s rebranding into Avara represents a strategic shift towards a more expansive and inclusive web3 future, solidifying its position in the web3 landscape.

2. What entities are included in Avara’s portfolio?
Avara oversees a diverse portfolio of entities, including Aave Protocol, Aave Labs, stablecoin GHO, and the decentralized social network protocol Lens.

3. What is the purpose of Avara’s acquisition of Family Wallet?
Avara’s acquisition of Family Wallet serves to broaden its influence in the web3 space and provide users with a user-friendly gateway to interact with decentralized applications.

4. Who will assume a key role within Avara after the acquisition of Family Wallet?
Benji Taylor, the founder of LFE, will assume the role of senior vice president of product and design within Avara, ensuring the continuity and enhancement of the Family wallet’s unique features.

5. What was Aave’s previous strategic move before the acquisition of Family Wallet?
In December 2022, Aave acquired Sonar, a metaverse mobile application, signaling the company’s commitment to a broader vision beyond the realm of DeFi.


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