Avara Launches Non-Custodial Ethereum Wallet

Avara, the parent company behind Aave, continues to expand its web3 footprint.

On Nov. 11, Avara launched a non-custodial Ethereum wallet. Dubbed Family, the wallet features built-in messaging, a browser for web3-enabled websites, a self-custody account service leveraging passwords or passkeys, and a fiat onboarding service powered by Stripe.

The wallet also offers features targeting advanced DeFi users, including transaction simulation, protection from MEV provided by Flashbots, and gas refueling. Family is currently available on the iOS App Store,

“Our goal is to offer the best wallet to transact with and increase access to the world of web3, where the next big wave of compelling web applications will live,” said Stani Kulechov, Avara’s founder and CEO.

“Family is for everyone from beginners to seasoned crypto users who want to transact or simply explore web3,” Avara said

To promote the adoption of Ethereum’s Layer 2 ecosystem, Family supports “quick bridging” for transfers of up to $50 worth of ETH from mainnet to any supported L2. Avara said the wallet currently supports the OP Mainnet, Base, Arbitrum, and ZKsync Era Layer 2 networks, with plans to add more in the future.

Users can also follow an unlimited number of on-chain wallets and receive notifications regarding their transactions. Family supports two-step authentication via biometrics for sensitive actions such as signing transactions.

The application also supports rich-media collectives, meaning users can view art, play videos, and listen to music from within the app. Family was audited by Zellic, a security firm specializing in emerging technologies.

Avara’s expansion

The move comes as Avara is making moves to expand beyond Aave, its flagship product and the largest DeFi money market protocol.

Avara launched Lens, a decentralized social media graph, on mainnet in June 2022, before making the platform permissionless in February. More than 560,000 profiles have been created on Lens to date, with nearly 11,000 users interacting with the protocol daily, according to Dune.

Avara launched its decentralized GHO stablecoin last July, allowing Aave users to mint the token while using protocol deposits as collateral. GHO is currently the 17th-largest stablecoin with a market cap of $179.9 million.

Avara has also begun rolling out instances of Aave facilitating stablecoin lending and borrowing against a single asset. Deployments are currently live supporting Lido’s wstETH liquid staking token and EtherFi’s weETH restaking derivative, while a proposal is underway to support Ethena’s yield-bearing stablecoin, USDe.

The price of AAVE is up 43.5% over the past seven days, according to The Defiant’s crypto price feeds.