Aave Labs has acquired the team and technologies behind Avon, a startup specialising in fixed-rate lending protocols, further expanding the decentralized finance (DeFi) platform’s offerings as the Aave network reports over $33 billion in deposits and $13 billion in active loans. The acquisition, announced on November 6, covers Avon’s proprietary fixed-rate and floating-rate lending protocols, its onchain order book system, and related intellectual property. While Aave has not disclosed financial terms or a timeline for making the technology available to borrowers, the deal signals an effort to diversify its product suite.