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Echo Protocol
Echo Protocol aggregates Bitcoin liquidity across chains, enabling users to bridge BTC assets and earn yield through unified liquid staking tokens and DeFi strategies.
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Echo Protocol
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Description
Echo is a decentralized protocol specializing in BTC liquidity, restaking, and DeFi within the Move ecosystem. It introduces liquid staking for Bitcoin assets and supports cross-chain integration with BTC Layer 2 solutions like Babylon. Echo’s flagship product, aBTC, is a 1:1 Bitcoin-backed token enabling DeFi interoperability across ecosystems like Aptos. Additionally, Echo’s eAPT product brings restaking to secure MoveVM chains, allowing projects to utilize Aptos for security and validation.Category: Staking
Hack: Yield Aggregator Access Control ($816K)
Chains:
Echo Vault
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Description
Echo Vault implements Bitcoin liquid staking across multiple blockchains, accepting native BTC, wrapped tokens, and liquid staking tokens to mint unified chain-specific assets. Users deposit supported Bitcoin assets and receive liquid representations like aBTC on Aptos, mBTC on Movement, or mphBTC on Morph, backed 1:1 by deposited assets. The system uses Proof-of-Reserve verification through Chainlink and Redstone oracles to ensure transparent collateralization and prevent depegging risk.Category: Liquid Staking
Echo Lending
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Description
Echo Lending implements decentralized borrowing and lending markets for Bitcoin-backed assets and stablecoins on Aptos. Users supply aBTC, APT, eAPT, zUSDT, or zUSDC as collateral to borrow supported assets, with interest rates determined algorithmically based on utilization. The protocol enables Bitcoin holders to access leverage or liquidity without selling their BTC holdings while maintaining exposure through liquid staking tokens.Category: Decentralised Borrowing & Lending
Echo Strategy
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Description
Echo Strategy implements automated yield optimization for Bitcoin assets through curated DeFi strategies on Aptos. The system deploys users' aBTC across lending protocols, liquidity pools, and staking opportunities based on configurable risk parameters. Strategies include safe lending yields, moderate liquidity provision through partners like Aries and Cellana, and leveraged positions, with automated rebalancing to maximize returns while managing gas costs.Category: Yield Aggregator