Sunsetting non-core offerings
Aave Labs, the company behind the Aave decentralized lending protocol, has announced that it is sunsetting its Avara 'umbrella brand' and shutting down its Family wallet offerings. This move is aimed at allowing Aave Labs to focus solely on the development of its core Aave DeFi platform.
Previously, Avara served as a 'family' of Aave-related products, including not only the main lending platform but also ancillary services like the Family wallets. However, amid ongoing tensions with the Aave Decentralized Autonomous Organization (DAO), which is responsible for governing the Aave protocol itself, Aave Labs has decided to concentrate exclusively on the DeFi platform.
This decision reflects a broader trend in the crypto industry, where companies behind successful blockchain projects are seeking to clearly separate themselves from the direct governance of the protocols, handing over control to the communities.
Refocusing on DeFi
According to Aave Labs representatives, the company will now be solely focused on the development of its DeFi platform, without distractions from ancillary services. This will allow them to more efficiently develop and scale the core product, leveraging the team's resources and expertise.
Such an approach seems justified in the context of the growing popularity of decentralized finance (DeFi) and the high demand for the lending solutions offered by Aave. By concentrating on the key product, the company will be able to respond to market changes and user needs more quickly.