Aave Labs sunsets Avara ‘umbrella brand’ and Family wallet as it refocuses on DeFi

Aave Labs is sunsetting its Avara "umbrella brand," which previously encompassed related Web3 projects like the Lens social media protocol (recently sold to Mask) and the Family wallet, which will be wound down. This strategic shift aims to simplify the brand structure, with all current and future products, including the Aave mobile app and Aave Pro, operating directly under Aave Labs. The move signals a refocusing of resources entirely on building awareness for the Aave lending protocol and introducing DeFi to new users globally. This decision follows recent governance tensions between Aave Labs and the Aave DAO regarding control over off-chain assets and revenue streams, particularly after Aave Labs redirected swap fees from the official interface to a private wallet. Aave co-founder Stani Kulechov stated the change unites the team around the single mission of bringing DeFi to everyone.

(Source：The Block)