Aave Labs acquired the team and technology behind Avon, a startup focused on fixed-rate lending. The deal covers Avon’s fixed- and floating-rate lending protocols, an onchain order book, and its domains and related assets, with financial terms undisclosed. Founder Prince Sinha and engineers Ayush Kaul and Omar el-Ashaal are joining Aave Labs. Integrating these technologies could make onchain lending more attractive to financial institutions and support the development of the V4 architecture. Aave reported more than $30 billion in deposits and over $12 billion in active loans at the time of the announcement.
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