Aave Labs Acquires Avon Team and Tech to Push Fixed-Rate Lending

Cointime update: Aave Labs has acquired the team and technology of on-chain lending protocol Avon to advance fixed-rate lending across its network, with the deal value undisclosed. The purchase includes Avon’s fixed- and floating-rate lending protocol, on-chain order book, domain and related assets. Avon founder Prince Sinha and Ayush Kaul join Aave Labs’ engineering team, while Omar el-Ashaal joins business development. Aave holds over $30 billion in deposits and more than $12 billion in active loans.