DeFi Company Aave's Creators Have Simplified Their Self-Storage Family Wallet

DeFi Company Aave's Creators Have Simplified Their Self-Storage Family Wallet

Avara, the parent company of Aave, gives users of its family wallet the ability to log in via email or SMS, eliminating the need to deal with seed phrases.

Author: Ian Ellison | Edited by Oliver Knight Updated April 2, 2025, 9:55 UTC Published April 2, 2025, 1:00 UTC

What you need to know:

• The Family Wallet allows users to manage assets across various Ethereum Virtual Machine (EVM) networks using authentication methods such as fingerprints or facial recognition that are linked to the user's device.
• Avara also introduced a ConnectKit feature for developers interested in integrating the Family Wallet.

Avara, the parent company of decentralized finance (DeFi) platform Aave, has significantly simplified its self-service family wallet by replacing complex seed phrases with emails and SMS, making the wallet creation and recovery process more accessible and attracting more users.

The Family Wallet allows users to manage assets across various Ethereum Virtual Machine (EVM) networks using passwords, such as fingerprints or facial scans, that are linked to the user’s device, according to a press release from Avara. Avara also launched a new web dashboard for the Family Wallet, where users can manage their accounts and send, receive, and monitor assets.

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Owners of digital assets are rightfully wary of leaving their cryptocurrencies on exchanges or in the hands of others, especially after incidents like the FTX crash. At the same time, self-service wallets put full responsibility for key management on users, which can be a concern for newcomers.

“For the past two years, we’ve been working on Family Accounts, a new feature that allows users who have downloaded the Family app for iOS to simply sign up with an email address or phone number,” Avara CEO Stani Kulechov said in an interview.

Kulechov also noted that Avara has released a ConnectKit feature for developers interested in integrating the Family Wallet.

There are other seedless wallets on the market such as Zengo, Argent, and Coinbase Wallet that use technologies such as multi-party computation, secure enclaves, smart contracts, and biometrics to operate.

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