Aave buys Avon to advance fixed-rate lending
📋 Summary
Aave Labs has acquired Avon’s team and technology to develop on-chain lending with fixed and variable rates. The deal includes protocols, an on-chain order book, and three professionals, but no price, timeline, or launch market has been announced yet.
Aave Labs has acquired the team and technology behind Avon, a project specializing in on-chain lending with fixed and variable rates. The deal brings an order book built specifically for decentralized credit into the Aave ecosystem and bolsters the protocol’s effort to offer more predictable borrowing costs.
The announcement was made by Aave Labs on its official blog on Friday (6). The financial terms were not disclosed. For now, there is also no launch date, chosen blockchain, or governance proposal detailing how the technology will be incorporated into Aave markets.
What Aave bought from Avon
The package includes Avon’s fixed- and floating-rate lending protocols, its on-chain order book, domains, and related assets. Prince Sinha, Avon’s founder, and Ayush Kaul are joining the Aave Labs engineering team. Omar el-Ashaal is joining the business development team.
According to Aave, the team will work on network and product layers, focusing on new forms of credit. The company says its network has more than US$ 33 billion in deposits and more than US$ 13 billion in active loans.
The acquisition appears to focus on technology and expertise, rather than liquidity alone. Avon developed isolated-risk structures and a mechanism that matches credit offers and requests under set terms. This approach differs from the more common model in DeFi protocols, where rates change based on pool utilization.
📋 Summary
Aave Labs has acquired Avon’s team and technology to develop on-chain lending with fixed and variable rates. The deal includes protocols, an on-chain order book, and three professionals, but no price, timeline, or launch market has been announced yet.
Aave Labs has acquired the team and technology behind Avon, a project specializing in on-chain lending with fixed and variable rates. The deal brings an order book built specifically for decentralized credit into the Aave ecosystem and bolsters the protocol’s effort to offer more predictable borrowing costs.
The announcement was made by Aave Labs on its official blog on Friday (6). The financial terms were not disclosed. For now, there is also no launch date, chosen blockchain, or governance proposal detailing how the technology will be incorporated into Aave markets.
What Aave bought from Avon
The package includes Avon’s fixed- and floating-rate lending protocols, its on-chain order book, domains, and related assets. Prince Sinha, Avon’s founder, and Ayush Kaul are joining the Aave Labs engineering team. Omar el-Ashaal is joining the business development team.
According to Aave, the team will work on network and product layers, focusing on new forms of credit. The company says its network has more than US$ 33 billion in deposits and more than US$ 13 billion in active loans.
The acquisition appears to focus on technology and expertise, rather than liquidity alone. Avon developed isolated-risk structures and a mechanism that matches credit offers and requests under set terms. This approach differs from the more common model in DeFi protocols, where rates change based on pool utilization.