Echelon, a decentralized lending protocol on Aptos, has launched Echelon Chain, a debt-driven Transfer app chain.
The chain, constructed onInitia’s Interwoven Stack, leverages Celestia’s modular blockchain know-how, which the Echelon workforce introduced on Nov. 28.
Echelon Chain’s debut follows the release of the Echelon Roadmap, which highlighted over $100 million in total worth locked and $132 million in borrowed property. The app chain represents Echelon’s strategy to dominate the Transfer ecosystem’s decentralized finance market.
By integrating Initia’s Interwoven Stack, Echelon Chain brings vital benefits to the ecosystem, including LayerZero onboarding, access to Celestia-native property, native USDC, and enshrined oracles.
The platform is designed for debt administration and capturing modular property, providing atomic cross-chain composability with Initia layer-1 and a local liquidity hub.
In August this year, Echelon raised $3.5 million in seed funding from enterprise capital companies led by Amber Group and with participation from Laser Digital, Saison Capital, Re7, Selini Capital, and Interop Ventures.
The funds have been earmarked to increase entry to high-performance DeFi and real-world asset markets, introduce cross-chain deposit vaults, and hire good contract and full-stack engineers.
Echelon’s public test net is scheduled for later this year, and the main net launch will coincide with Initia’s rollout.
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