Aave Labs Acquires Avon Tech to Take On-Chain Lending Mainstream
By PYMNTS
AI summary of the source article
Aave Labs has acquired the team and technology behind Avon. The acquisition is intended to advance efforts to bring on-chain lending to a mainstream audience.
Why it matters
The deal was completed "to further its efforts to bring on-chain lending to a mainstream audience."
Key facts
- Aave Labs acquired the team and technology behind Avon.
- Aave Labs is a core contributor to the Aave on-chain lending network.
- Avon developed fixed-rate and floating-rate lending technology.
Source excerpt · PYMNTS
Aave Labs has acquired the team and technology behind Avon to further its efforts to bring on-chain lending to a mainstream audience, Aave Labs said in a Friday (Nov. 6) press release emailed to PYMNTS. Aave Labs is a core contributor in the Aave on-chain lending network, while Avon has built fixed-rate and floating-rate lending […] The post Aave Labs Acquires Avon Tech to Take On-Chain Lending Ma…