Avara Simplifies Onboarding with Email and SMS
Avara, the parent company of decentralized finance (DeFi) platform Aave, has streamlined its self-custody Family Wallet by replacing complex seed phrases with email and SMS verification. This update aims to make wallet creation and recovery seamless, encouraging broader adoption among users.
Key Features of the Family Wallet
- Seedless Onboarding: Users can now sign up using just an email or phone number, eliminating the need for memorizing lengthy seed phrases.
- Multi-Network Asset Management: Supports assets across Ethereum Virtual Machine (EVM)-compatible blockchains.
- Biometric Security: Utilizes passkeys (fingerprint or face recognition) tied to the user’s device for enhanced security.
- Web Dashboard: A newly launched interface allows users to manage accounts, send/receive assets, and monitor portfolio activity.
Why Seedless Wallets Matter
The shift toward seedless wallet solutions addresses a critical pain point in crypto self-custody:
- Security Concerns: Users wary of exchange risks (e.g., FTX collapse) prefer self-custody but struggle with key management.
- User Experience: Simplifying onboarding reduces barriers for DeFi newcomers, aligning with Avara’s mission to democratize access.
“For the past two years, we’ve focused on making self-custody accessible. Family Accounts let users sign up effortlessly—no seed phrases required,” said Stani Kulechov, Avara CEO.
Developer Integration: ConnectKit
Avara’s ConnectKit enables developers to integrate the Family Wallet into their applications, fostering ecosystem growth.
Competing Seedless Solutions
Other wallets leveraging alternative security methods include:
| Wallet | Technology Used |
|-----------------|-------------------------------------|
| Zengo | Multi-party computation (MPC) |
| Argent | Smart contracts + biometrics |
| Coinbase Wallet | Secure enclaves + social recovery |
👉 Explore more about DeFi innovations
FAQs
Q: Is the Family Wallet truly non-custodial?
A: Yes. Avara never holds user keys; assets remain fully self-custodied.
Q: Which blockchains are supported?
A: All EVM-compatible networks, including Ethereum, Polygon, and Avalanche.
Q: Can I migrate from a traditional seed-phrase wallet?
A: Currently, the Family Wallet requires a new account setup via email/SMS.
👉 Learn how to secure your crypto assets
Conclusion
Avara’s update to the Family Wallet marks a significant leap in user-friendly DeFi access. By ditching seed phrases and prioritizing intuitive design, Avara bridges the gap between security and mainstream adoption.
For developers and crypto enthusiasts alike, this evolution underscores the industry’s push toward frictionless, secure self-custody.
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