Aave Labs acquires Avon team to build out fixed-rate lending

What happened

Aave Labs acquired the team and technology of Avon, an onchain fixed-rate and floating-rate lending protocol.

The goal is to bring predictable borrowing costs to Aave ’s onchain lending network. What Aave Labs is getting The deal covers Avon’s fixed- and floating-rate lending protocols.

It also contains an onchain order book, plus Avon’s domains and related assets. Aave Labs shared the news in a statement to The Block on Friday.

Avon founder Prince Sinha is joining Aave Labs, along with engineers Ayush Kaul and Omar el-Ashaal.

Add your holdings to find related stories in Pro. Create a free account Avon’s core idea was a segmented-risk approach to lending.

Its order book matches lending opportunities in real time while keeping risk isolated to each individual strategy. Why fixed rates are such a big deal Onchain lending has mostly offered the adjustable version.