Avara will also acquire the the developer of the wallet, Family, as part of the transition.
Aave Companies is rebranding to Avara, signaling the developers of DeFi’s largest lending protocol now houses multiple other brands and services.
The rebrand aims to bring a host of projects together under one umbrella. These projects include Lens, the social graph protocol, GHO, the stablecoin, and Aave, the lending platform with $5.8B in total value locked.
As part of the restructuring, Avera is also acquiring Los Feliz Engineering, the makers of the Family crypto wallet.
The move establishes Avara as a multifaceted enterprise — its products can facilitate payments through GHO, social interactions through Lens, lending through Aave, and asset management through the newly acquired Family non-custodial wallet.
“Avara aims to serve as the go-to brand for state-of-the-art web3 features and services that can seamlessly integrate into any application,” Aave founder Stani Kulechov said in the release.
Family also offers a wallet-to-dapp software library called ConnectKit, which is used by 1,000s of developers, according to a release shared with The Defiant.