Stani Kulechov, the founder of Aave Companies, has revealed the rebranding of the blockchain network and ventures under his leadership to Avara. This strategic move is aimed at advancing Avara’s mission to extend the reach of Web3 to users globally, catering to diverse use cases.
Previously recognized as EthLend before adopting the name Aave, the organization underwent a name change to align with its expanding scope beyond initial targets. The Finnish word “Avara,” meaning “to see more than you can see” colloquially, now characterizes the family of entities associated with Aave. Notably, Aave Labs, Aave Protocol, and the AAVE token maintain their existing names, ensuring continuity within the Aave ecosystem.
Lens Protocol: A Social Network Protocol for Web3
Stani Kulechov emphasized the recent focus on the Lens Protocol, a social network protocol designed for Web3. The protocol aims to create a user-friendly interface on existing infrastructure, facilitating familiar interactions for users. With a focus on decentralized social media, Lens Protocol enables developers to build applications on this innovative framework.
Avara recently completed the acquisition of Los Feliz Engineering, a team renowned for creating Family, the developer behind Library ConnectKit and a self-custodial mobile wallet for Ethereum tokens. Benji Taylor, former CEO of Family, assumes the role of SVP of Product & Design at Avara, leading the charge in realizing the rebranded firm’s mission to bring Web3 to a global audience.
Balancing Web3 Expansion and DeFi Commitment with Avara
While the new name sets its sights on becoming the go-to protocol for integrating Web3 capabilities into diverse projects, Kulechov reassures the community that the firm remains deeply committed to advancing decentralized finance (DeFi). The recent Aave V3 update and the launch of the Aave-native GHO stablecoin showcase Avara’s unwavering dedication to driving technological innovations in the DeFi space.