Aave Labs announced on November 6, 2026, that it has acquired the Avon team and technology in a bid to expand fixed-rate borrowing options and strengthen its onchain lending infrastructure. The acquisition includes Avon’s fixed-rate and floating-rate lending protocols, an onchain order book, domains, and related assets.
Avon founder Prince Sinha and Ayush Kaul will join Aave Labs' engineering team, while Omar el-Ashaal will support business development. Aave Labs framed the purchase as a way to bring experienced developers and financial market specialists into its operations, with the goal of attracting more institutions and fintech companies that need predictable borrowing costs.
Aave founder Stani Kulechov said fixed rates are a product users already expect, while Sinha said Aave is where that credit work can reach scale. The announcement cited more than $33 billion in deposits and more than $13 billion in active loans across Ethereum and other networks. No purchase price, equity structure, earn-outs, or public launch date for fixed-rate products were disclosed.
The deal follows Aave Labs’ October 23, 2025 acquisition of Stable Finance, which brought a consumer stablecoin-savings team into the company. Analysts described the Avon purchase as a complementary “tuck-in” acquisition: it adds rate-market and order-book engineering to Aave’s credit stack, but the fixed-rate product remains unproven until it clears live borrowing volume.
