Aave Labs, the core development company of Aave, has acquired the team and technology of the on-chain lending project Avon, aiming to expand its fixed-rate lending business. The acquisition includes Avon's fixed and floating-rate lending protocols, on-chain order book, domain name, and related assets; the specific transaction amount was not disclosed. Three Avon members will join Aave Labs, with two joining the engineering team and one joining the business development team. Aave Labs CEO Stani Kulechov stated that fixed-rate products will help Aave expand its reach to institutions, fintech companies, and ordinary users. According to Aave, its network deposits exceed $30 billion, and active lending exceeds $12 billion. (The Block) https://www.(wublock123.com)/news/aave-labs-acquires-avon-team-and-tech-for-fixed-rate-lending-71499