Odaily Planet Daily News Echo Protocol officially launched TGE today. Its token ECHO has been launched on Binance Alpha first, and will be traded on Gate, KuCoin and MEXC on the same day. As a member of the Aptos Foundation LFM program, Echo is the first Bitcoin liquidity pledge and yield agreement in the Aptos ecosystem. It currently ranks first in Aptos with a TVL of US$878 million.
Through the aBTC launched by Echo, users can monetize Bitcoin assets while promoting the free flow of liquidity and collateral between Aptos native DeFi protocols. As of now, the total amount of aBTC has exceeded US$285 million, and Echo also accounts for 65% of the Bitcoin cross-chain assets on the Aptos chain, playing a key role in building the BTCfi ecosystem of Aptos. Echo's TGE is an important milestone in the development of Aptos BTCfi, marking the wider application of Bitcoin assets on Aptos, injecting new growth momentum into the entire ecosystem.