Aave Labs acquires Avon team to build fixed-rate lending
Aave Labs has bought the team and technology behind lending project Avon, including its fixed- and floating-rate protocols and on-chain order book, for an undisclosed sum. Three Avon members join Aave Labs, initially to work on fixed-rate loans aimed at institutions and fintechs. Aave reports more than $30 billion in deposits and over $12 billion in active loans.