Aave, one of the most used decentralized finance (DeFi) platforms in the Ethereum ecosystem, plans to gradually shut down its family of applications, a wallet by Avara, which was acquired and integrated into Aave in 2023.
This decision was communicated by Stani Kulechov, founder and CEO of Aave, who also stated that the initiative This is part of our internal reorganization. We will focus on product development under a single identity, Aave Labs.
As the manager explained, Family’s closure This does not mean immediate discontinuation of the service. You won’t lose your users’ funds, but you will need to migrate to a single platform.
Meanwhile, the Avara team assured that the Family app for iOS will stop accepting new users on April 1st, but will continue to be available to existing users. We will continue to operate as usual until April 1, 2027.with a grace period of one year.
In the meantime, users will maintain full access to their assets, which will continue to be available through the Aave Ecosystem Account Portal. therefore, This process is designed to gradually withdraw your application. Not as a sudden closure, but as an independent product.
Avara detailed that the change means the family will no longer operate as a wallet and consumer brand. Integrate technology directly into Aave Labs infrastructure. In particular, family accounts will continue to function as part of the internal systems that power the main Aave app.
In parallel, Aave Labs will cease using the Avara umbrella brand under which projects such as Family and Lens were run, according to Avara’s statement. As a result of this reorganization, all current and future products, including the Aave App, Aave Pro, and Aave Kit, will operate exclusively under the Aave Labs brand.
“As part of this transition, the Avara brand is no longer needed as we are doing everything in our power to bring Aave to the masses,” Kulechov said on February 3, explaining that his goals are to: Integrate design, engineering, and smart contracts around a single product set.
This change does not change general access to the protocol. Aave services can still be used from external wallets such as MetaMask without the need for ecosystem-specific applications.
Why did Aave change its strategy?
Kulechov explained that the experience accumulated over the last few years has led to clear conclusions.
We found that onboarding millions of users required an experience built with a specific purpose, like savings, rather than a generic, purposeless wallet experience.
Stani Kulechov, founder of Ave.
With this framework, general purpose wallets are not, Stani argues.Or was it enough to bring new users into the ecosystem DeFi.
Kulechov said his experience with Family helped him identify what kinds of interfaces and products would drive broader adoption.
