Add as a preferred source on GoogleAave Labs Acquires Avon Team to Develop Fixed-Rate Lending
The deal includes Avon’s fixed- and floating-rate protocols, an onchain order book and related assets; terms were not disclosed.
Aave Labs has acquired Avon’s team and technology, bringing lending protocols and an onchain order book into its effort to offer fixed-rate borrowing products to users and institutions.
Terms were not disclosed. Avon founders Prince Sinha and Ayush Kaul will join Aave Labs’ engineering team, while Omar el-Ashaal will join its business development team. The Avon group will initially work on fixed-rate lending.
Aave Labs CEO Stani Kulechov said fixed-rate products are among the financial services the company aims to offer. He said the Avon team would help Aave expand its reach among institutions, fintech companies and everyday users.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.