Aave Labs announced on November 6 that it had acquired Avon’s team and technology, which specializes in fixed- and floating-rate lending and onchain order books. The deal includes Avon’s protocols, domains, and order book, although the financial terms were not disclosed. Engineers Prince Sinha and Ayush Kaul will join Aave’s engineering team, while Omar el-Ashaal will lead business development. The acquisition does not mean that a fixed-rate lending product for the public has already been launched or approved by Aave’s governance. Aave reports more than $33 billion in deposits and $13 billion in active loans, figures that fluctuate with market conditions.
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