Aave Labs acquires Avon team to add fixed-rate lending and an onchain order book

Aave Labs has acquired the team and technology behind Avon, including its fixed- and floating-rate lending protocols, an onchain order book, domains and related assets. Financial terms were not disclosed. Avon founder Prince Sinha and Ayush Kaul join Aave Labs' engineering team, while Omar el-Ashaal joins business development. CEO Stani Kulechov said the deal supports offering fixed rates and bringing Aave to institutions, fintechs and everyday users. Per the company, Aave holds over $30 billion in deposits and more than $12 billion in active loans, making it the largest onchain lending network.

✨ AI summary of the linked source — not editorial content.

Explore the topic

• AAVE
• Onchain
• Acquisition
• Aave