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Aave Labs acquires Avon team and technology in fixed-rate lending push

Aave Labs has acquired the team and technology behind Avon, an onchain protocol offering fixed- and floating-rate lending, to build out fixed-rate borrowing capabilities.

Graphic showing the Aave ghost mascot holding a purple flag bearing the Avon logo.
Image: @Cointelegraph

Aave Labs has acquired the team and technology behind Avon, an onchain protocol that supports fixed-rate and floating-rate lending, The Block reported. The deal is aimed at building out fixed-rate lending capabilities for the decentralized finance ecosystem.[2][3][1]

According to Cointelegraph, the integration brings fixed-rate lending directly to Aave, which holds more than $33 billion in deposits. Observers noted that introducing predictable borrowing rates could expand decentralized finance's appeal to institutional investors.[1][3]

Key facts

  • Aave Labs acquired the team and technology behind Avon.
  • Avon is an onchain protocol facilitating fixed-rate and floating-rate lending.
  • The acquisition is designed to advance and build out fixed-rate lending on Aave.
  • Aave holds over $33 billion in deposits, according to Cointelegraph.

Sources 路 3 sources

  1. CO

    Cointelegraph@CointelegraphPost on X 路

    馃敟 NEW: Aave Labs has acquired the team and technology behind Avon, one of the leading fixed-rate lending teams onchain. The deal brings fixed-rate lending to Aave, which holds more than $33B in deposits. Could fixed rates bring more institutions to DeFi? https://t.co/MNVW8FPi9U

    Open source
  2. TB

    The BlockArticle 路

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

    Open source
  3. CB

    Crypto BriefingArticle 路

    Aave Labs acquires Avon team to build out fixed-rate lending Aave's acquisition of Avon could enhance DeFi's appeal to institutions by offering predictable lending rates, potentially reshaping the market. The post Aave Labs acquires Avon team to build out fixed-rate lending appeared first on Crypto Briefing .

    Open source