Aave Labs is sunsetting its broader “Avara” brand to refocus exclusively on decentralized finance. The move includes winding down the Family crypto wallet app and follows last month’s handoff of the Lens social media protocol. The company stated all future products will operate under the Aave Labs name, aiming to simplify its branding and align its team around bringing DeFi to a wider audience.
Aave Labs announced it is sunsetting its “umbrella brand” Avara to refocus on decentralized finance and simplify its branding. Founder and CEO Stani Kulechov stated that Avara “is no longer required as we go all in on bringing Aave to the masses.”
Kulechov said the Family crypto wallet for iOS is also being wound down. The team stated it has “learned that onboarding millions of users requires purpose-built experiences, such as savings, rather than generic, open-ended wallet experiences.” This follows last month’s transition of the Lens protocol to the Mask Network, allowing Aave to concentrate on DeFi.
Kulechov noted that Aave is “now united as one team of world-class designers, engineers, and smart contract experts, aligned around a single mission: bringing DeFi to everyone.” All current and future products will operate under Aave Labs, according to a company blog post.
No new users will be onboarded to the Family wallet app from April 1. Existing users can continue using it until April 1, 2027, and will retain full access to their funds on Aave’s website. Accounts linked to Family wallets will continue as infrastructure within Aave Labs products.
Aave is the largest DeFi protocol with $30 billion in total value locked, as reported by DeFiLlama. This is nearly $9 billion more than the next largest project, Lido. The AAVE token was trading at approximately $127.40, according to CoinGecko data, down 0.7% over 24 hours.
