Aave has announced the discontinuation of its Avara brand, a strategic move aimed at sharpening its focus on decentralized finance (DeFi). This decision was revealed by Aave”s founder and CEO, Stani Kulechov, in a post on X earlier this week. Avara, which included projects like the Family crypto wallet and the social media platform Lens, is deemed unnecessary as the company pivots to prioritize bringing Aave to a broader audience.
Kulechov emphasized that the Family crypto wallet, designed for Apple iOS, will also be phased out. The Aave team has concluded that successfully onboarding millions of users necessitates specialized experiences tailored for specific tasks, such as savings, rather than offering generic wallet functionalities.
This latest shift is part of Aave”s ongoing strategy to concentrate on its core offerings, including its flagship lending protocol. Notably, Aave transferred control of the Lens platform to the Mask Network last month, with Kulechov indicating that Aave”s involvement with Lens would diminish to an advisory capacity, allowing the company to dedicate more resources to DeFi.
Kulechov stated that Aave is now unified as a cohesive team composed of top-tier designers, engineers, and smart contract specialists, all dedicated to a singular goal: expanding access to DeFi for all. In a blog post, Aave Labs declared that all existing and future products, such as the Aave App, Aave Pro, and Aave Kit, will be integrated under the Aave Labs umbrella for brand simplification.
The Family wallet accounts will remain integral to Aave Labs products; however, the iOS app will be gradually discontinued over the next year. As of April 1, new users will no longer be onboarded to the app, although current users will retain access to their accounts until April 1, 2027, and will continue to manage their funds via Aave”s website.
As the largest DeFi protocol, Aave boasts a total value locked of $30 billion, significantly outpacing its closest competitor, the staking protocol Lido, which has $21.7 billion locked. The Aave (AAVE) token has seen minimal fluctuation, recording a slight decrease of 0.7% over the past 24 hours, currently trading at $127.40, according to data from CoinGecko.
This strategic refocusing underscores a broader trend in the DeFi space, where tailored user experiences are becoming increasingly vital for driving mass adoption.
