[Aave Labs Acquires Avon Team and Technology to Advance Fixed-Rate Lending] According to Foresight News, citing The Block, Aave Labs has acquired the team and technology of the lending protocol Avon to advance the fixed-rate lending functionality of the Aave network. The acquisition includes Avon's fixed and floating-rate lending protocols, on-chain order book, domain name, and related assets; the terms of the transaction were not disclosed. Avon founders Prince Sinha and Ayush Kaul will join the Aave Labs engineering team, and Omar el-Ashaal will join its business development team. The Avon team will initially be responsible for developing fixed-rate lending. Aave Labs CEO Stani Kulechov stated that Aave's goal is to provide users with financial products they are already accustomed to, including fixed-rate lending, and the Avon team will help Aave expand to institutions, fintech companies, and ordinary users.