Update
Aave Acquires Avon Team for Fixed-Rate Lending Expansion
Aave Labs has acquired Avon’s team and technology to expand its lending services and introduce more fixed-rate borrowing options. The acquisition includes Avon’s fixed-rate and floating-rate lending protocols, on-chain order book, domains, and related assets. The move also strengthens Aave’s position in decentralized finance as it integrates Avon’s expertise into its operations. Aave currently holds over $33 billion in deposits and $13 billion in active loans, and the integration could broaden borrowing options for its growing user base. AAVE, Aave’s token, has recorded positive market performance with a 3.36% increase over 24 hours and a 4.58% gain over the past seven days.