Aave Labs, the team behind the decentralized crypto lending protocol Aave and the parent company of social media project Lens Protocol and Avara, has raised $31 million in a funding round led by Lightspeed Faction. Other participants in the round included Avail, Circle, Consensys, DFG, and Alchemy. The funds will be used to further develop the Aave protocol, expand the Lens Protocol, and launch Avara. The Aave protocol is currently one of the most popular DeFi platforms, with over $10 billion in assets locked. It allows users to lend, borrow, and earn interest on a variety of crypto assets. The Lens Protocol is a decentralized social media platform that allows users to own and control their data. It is currently in beta, but is expected to launch publicly in Q1 of next year. Avara is a new project from Aave Labs that aims to make DeFi more accessible to everyday users. It is expected to launch in Q2 of next year. The $31 million investment is a major vote of confidence in Aave Labs and its projects. It will allow the company to continue to develop its products and services, and expand its reach in the DeFi market.