AAVE Changes Its Name to Avara

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Last Updated on November 17, 2023 by Bitfinsider

Aave Companies, a blockchain technology business, has renamed as Avara and announced the purchase of a web3 startup located in Los Angeles.

According to a press announcement, Avara will now be the parent corporation for Aave, Lens, the stablecoin GHO, Sonar, and other companies. Avara also purchased Los Feliz Engineering, the web3 software development business behind the Ethereum crypto wallet Family and the developer library ConnectKit, in addition to the name change. Family founder Benji Taylor will join Avara as senior vice president of product and design.

The whole Los Feliz engineering team will also join Avara. “Our transformation to Avara and the integration of Family into our fold are not merely changes in name or structure,” Avara founder Stani Kulechov stated in a statement. “These are significant strides toward our ultimate mission: an open, decentralized internet that’s equitable, inspires participation and fosters innovation.” Avara’s acquisition of Los Feliz Engineering is the company’s second acquisition in its history. Sonar, a web3 social game software, was bought by the firm on December 5, 2022, to grow the Lens ecosystem, a decentralized social media platform.

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