Aave Labs is ending the Avara project and will gradually discontinue the Family cryptocurrency wallet, Cointelegraph reported on Feb. 4.
Aave founder Stani Kulechov (스테이니 쿨레초프) said on X (Twitter), "Avara is no longer needed, and we will focus on bringing Aave to the public."
Family is an Apple iOS-based cryptocurrency wallet. It supports users storing and transferring cryptocurrencies. Aave decided to shut down the Family wallet after concluding it needs a more purpose-oriented product to provide mainstream financial services.
Cointelegraph said the move is part of Aave's strategy to focus on its core product, the lending protocol.
Cointelegraph said Aave is strengthening a DeFi-focused strategy by handing over control of the Lens social media platform to Mask Network and scaling back to an advisory role.
Chi-kyu Hwang
delight@d-today.co.kr