Aave, one of the most used decentralized finance (DeFi) platforms in the Ethereum ecosystem, will progressively close the Family application, a wallet from the Avara company, but acquired and integrated in 2023 into Aave.
The decision was communicated by the founder and CEO of Aave, Stani Kulechov, who also indicated that the initiative It is part of an internal reorganization to concentrate product development under a single identity: Aave Labs.
As the manager explained, the closure of Family does not imply the immediate elimination of the service nor the loss of user funds, but a migration to a single platform.
For its part, the Avara team assured that the Family app for iOS will stop accepting new users as of April 1, while those who already use it will be able to continue operating normally until April 1, 2027with a grace period of 1 year.
During that time, users will maintain full access to their assets, which will remain available through the Aave ecosystem account portal. Thus, the process aims at a gradual withdrawal of the application as an independent product, and not to an abrupt closure.
From Avara they detailed that the change means ceasing to operate Family as a wallet and consumer brand, to integrate your 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, according to Avara’s statement, Aave Labs will stop using the Avara umbrella brand, under which projects such as Family and Lens operated. Beginning with 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 necessary, as we are going all-in to bring Aave to the masses,» Kulechov said on February 3, explaining that the goal is unify design, engineering and smart contracts around a single set of products.
The change does not alter general access to the protocol. Aave services continue to be usable from external wallets, such as MetaMask, without the need to use an application specific to the ecosystem.
Why is Aave changing strategy?
Kulechov explained that the experience accumulated during these years led to a clear conclusion:
We’ve learned that onboarding millions of users requires experiences built with a specific purpose, like savings, rather than generic, purposeless wallet experiences.
Stani Kulechov, fundador Aave.
In this framework, Stani maintains that general-purpose wallets do notor were sufficient to incorporate new users into the ecosystem DeFi.
The experience with Family served, according to Kulechov, to identify what types of interfaces and products facilitate broader adoption.