Aave Labs acquires Avon team to develop fixed-rate lending

On November 6, 2026, Aave Labs announced the acquisition of Avon's team and core technology, including its lending protocols and onchain order book, to expand fixed-rate lending capabilities. Financial terms were not disclosed. Avon founder Prince Sinha and engineer Ayush Kaul join Aave Labs' engineering team, while Omar el-Ashaal joins business development to work on onchain credit for Aave V4. The deal supports Aave's expansion across its protocol layer, which holds over $30 billion in deposits.

Aave-Avon acquisition

• ▪Aave Labs acquired the team, protocols, onchain order book, domains, and related assets of fixed-rate lending developer Avon, announced on November 6, 2026
• ▪Aave Labs had not set a launch date or identified a first market for its planned fixed-rate lending products as of November 6, 2026
• ▪The financial terms of Aave Labs' acquisition of Avon's team and technology, announced on November 6, 2026, were not disclosed

Fixed-rate lending expansion

• ▪Aave Labs acquired Avon's technology to add fixed-rate lending capabilities to the Aave network, offering borrowers defined interest rate terms
• ▪Avon developed fixed- and floating-rate lending markets, an onchain order book, interest-rate pricing models, and risk isolation mechanisms for decentralized credit
• ▪Aave Labs said in its acquisition announcement that the Aave protocol held over $30 billion in deposits and over $12 billion in active loans at the time of the November 6, 2026 Avon acquisition announcement

Avon team integration

• ▪Avon founder Prince Sinha and Ayush Kaul joined the Aave Labs engineering team following Aave Labs' acquisition of Avon's team and technology on November 6, 2026
• ▪Omar el-Ashaal joined Aave Labs as a business development associate following the November 6, 2026 acquisition of Avon
• ▪Aave executive Luigi D'Onorio DeMeo confirmed on November 6, 2026 that the joining Avon team members will work on developing onchain credit for Aave V4

Aave V4 development context

• ▪Babylon submitted a governance proposal on October 14, 2026 to add native Bitcoin collateral to Aave V4 using Trustless Bitcoin Vaults
• ▪Aave V4 added tokenized SpaceX stock as collateral for USDC borrowing on Base, according to a report published on November 5, 2026