According to official news, Echo announced that it has been officially launched on Aptos, and the mainnet launch marks the beginning of a partnership with the Aptos Foundation. Users can now explore how Echo will promote Bitcoin yield infrastructure and innovate on Aptos.
Echo's flagship product aBTC is a cross-chain, liquid Bitcoin token that is backed by BTC at a 1:1 ratio. This innovation promotes Bitcoin's DeFi interoperability, enabling users to earn real returns in ecosystems such as Aptos, and aBTC will be fully supported throughout the Aptos DeFi ecosystem.
To reward early adopters and users of aBTC, Echo has partnered with the Aptos Foundation to provide APT rewards of up to 12% APY to aBTC holders.
Echo and the Aptos Foundation are working together to expand the use cases of aBTC and integrate it into the entire DeFi ecosystem on the Aptos network. As the only BTC liquidity pledge token on Aptos, aBTC will unlock the DeFi market on Aptos by introducing new primitives, enhancing liquidity, and expanding yield opportunities.
In addition, with the support of the Aptos Foundation, Echo launched eAPT, which will be used to protect the MoveVM chain and enhance the security and verification of Aptos.
According to reports, Echo is a Bitcoin liquidity pledge and re-pledge protocol, and introduces a new liquid asset class to the Move ecosystem. By working with Bitcoin ecosystem partners, Echo seamlessly integrates with all native BTC L2 solutions (including Babylon) and supports a variety of BTC liquidity pledge tokens.