Aave Labs Acquires Avon Team and Technology to Expand Fixed-Rate Lending Aave Labs, the core developer behind DeFi lending protocol Aave, has acquired Avon’s team and technology to expand into fixed-rate lending.
The deal includes Avon’s fixed- and floating-rate lending protocols, onchain order book, domains, and related assets
Financial terms were not disclosed. Three Avon team members will join Aave Labs, including two engineers and one business development associate. CEO Stani Kulechov said fixed-rate products could help Aave reach institutions, fintech firms, and retail users.
Aave currently has over $30 billion in deposits and more than $12 billion in active loans. — link