Ave Ecosystem to Avara Branding

Stany Kulekov – the founder of Aave companies – announced that the blockchain components and venture network he created is named Avara.

Rebranding to reflect new priorities

According to Kulekov, the name change reflects Avara's new mission, bringing Web3 “to all users with a variety of use cases globally,” and also reflects Avara's mission to go beyond DeFi.

The firm was Etland before it was known as Ave, but changed its name when its scope expanded beyond previous targets.

Like the previous name, Avara is a Finnish word for “seeing beyond what you see.” The change applies to a family of components that were previously operating as part of Aave. Aave Labs, Aave Protocol and AAVE Token each bear their names. The GHO stablecoin will continue to operate under the same name.

Future plans

Kulekov shared that a major focus for his team in recent months is the Lens protocol, a Web 3 social networking protocol.

We want to send a signal that we're here with Web3, where we're building that interface on top of the existing infrastructure, so people can interact in a way they know. […] More recently, with the Lens protocol, we've been building a social, decentralized social media platform so that basically any developer can build an application on top of it.

Avara also recently purchased Los Feliz Engineering for an undisclosed sum. Los Feliz Engineering is the team behind the developer library ConnectKit and the self-protecting mobile wallet, among other projects.

Benjy Taylor, Family's former CEO, will now take on a new role as SVP of Product and Design at Avara, leading the mission of bringing Web3 to everyone as a newly revamped organization.

However, Kulekov emphasized that although Web3 and social expansion are the priorities of Avara in the future, the protocol has no plans to abandon the DeFi space and the projects it has established so far.

“Avara remains deeply committed to advancing decentralized finance. In particular, we were the driving force behind the recent Aave V3 update and the recent launch of the Aave-native GHO stablecoin. Our commitment to leading technological innovation in the DeFi space is unwavering, and we are grateful for the continued support of the Aave community.”

In the meantime, Avara aims to be the go-to protocol for anyone looking to integrate Web3 capabilities into their protocols, regardless of their nature.