Aave is ending its operations and focusing on DeFi.

Aave to End Avara Operations

Aave has announced the discontinuation of its Avara brand in order to refocus on decentralized finance. Stani Kulechov, founder and CEO of Aave Labs, stated that this decision was made to simplify the branding process.

New Direction and Project Changes

Kulechov expressed that projects such as the Family crypto wallet and the previously existing social media platform Lens should now serve Aave. While Avara worked diligently to increase Aave's reach, it has emphasized that it is no longer necessary.

The changes made for the Family wallet highlight the need for Aave to shift towards more open and user experience-focused wallets in its efforts to onboard millions of users to the platform. Kulechov announced the closure of the Apple iOS-based Family wallet.

Aave's Future Projects

With the discontinuation of Avara, Aave Labs has decided to consolidate all its products under the Aave name. Aave will manage all current and future projects, such as Aave App, Aave Pro, and Aave Kit, under Aave Labs. Kulechov also announced that this change will allow Aave to refocus on developing its lending protocol and other important products.

Accounts linked to the Family wallet will continue to operate as a foundational infrastructure within Aave Labs products, but the iOS application will be closed in early 2024. New users will no longer be accepted into the application as of April 1, and existing users will be able to continue using their wallets until April 1, 2027.

These developments clearly reflect Aave’s strategy to focus on more effective projects in the decentralized finance space.