The company behind lending protocol Aave, Aave companies rebranded to Avara and announced an acquisition of a Los Angeles-based web3 startup.
Avara will now be the parent entity over Aave protocol, Lens, and the stablecoin GHO and other brands. In addition to the name change, Avara also bought Los Feliz Engineering, the web3 software development startup behind the Ethereum crypto wallet Family and the developer library ConnectKit.
No change will be made to the Aave's protocol token AAVE.
Aave found Stani Kulechov said:"Our transformation to Avara and the integration of Family into our fold are not mere changes in name or structure. These are significant strides toward our ultimate mission: an open, decentralizedd internet that's equitable, inspires participation and foster innovation."