Decentralized lending protocol Echelon announced it has secured seed funding to advance DeFi lending on Move-based blockchains. This funding round was led by Amber Group, with participation from strategic partners including Laser Digital, Saison Capital, Selini Capital, Interop Ventures, and Re7. Echelon aims to offer high-performance markets integrated with other DeFi applications and real-world assets (RWAs).
The protocol’s features include increased borrowing power on correlated assets, isolated pools for long-tail asset markets, direct in-wallet integration for simplified yield strategies, and future support for investing in and borrowing against illiquid RWAs.
Built with the Move programming language, Echelon Protocol targets institutional-grade markets on Movement, Aptos, and other Move-based blockchains. And it focuses on capital efficiency, affordable borrowing rates, and yield opportunities for global users. This protocol has already gained significant traction with users, transactions, and substantial amounts supplied and borrowed.
With this funding round, Echelon plans to expand its offerings by developing treasury and RWA-backed strategies, implementing vaults for cross-chain deposits, and hiring full-stack and smart contract engineers while expanding its marketing team.
Echelon’s protocol also aims to maximize capital efficiency and provide affordable borrowing rates in the DeFi ecosystem. Utilizing advanced risk management techniques and integrating them with various assets seeks to unlock new possibilities for yield generation and financial accessibility. For more information about Echelon and its lending solutions, visit Echelon on X or read their documentation.
KEY QUOTE:
“Their focus on capital efficiency and user-friendly design positions them to become a leader in the next generation of DeFi protocols on the Movement Network.”
- Rushi Manche, Co-Founder of Movement Labs
