Aave Labs has acquired Avon’s team and technology, which specialize in fixed- and variable-rate lending.

As part of the deal, Aave will acquire Avon’s lending protocols, onchain order book, and interest rate and risk management technologies. Three Avon employees will join Aave Labs.

Initially, the team will focus on introducing fixed-rate loans. Aave plans to expand its range of lending products for institutional clients, fintech companies, and retail users in the future.