August 27, 2024
Echelon, a decentralized lending protocol, has obtained seed funding to enhance DeFi lending on Move-based blockchains. The funding round was led by Amber Group, with contributions from strategic partners such as Laser Digital, Saison Capital, Selini Capital, Interop Ventures, and Re7. Echelon aims to provide high-performance markets that integrate with other DeFi applications and real-world assets (RWAs).
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Echelon | $3.5m | August 27, 2024 | Seed Round | Amber Group | Lending |
The protocol’s unique features include increased borrowing power for correlated assets, isolated pools for niche asset markets, direct in-wallet integration for easier yield strategies, and future support for investing in and borrowing against illiquid RWAs.
With this funding, Echelon plans to expand its offerings by developing treasury and RWA-backed strategies, creating vaults for cross-chain deposits, and hiring full-stack and smart contract engineers, as well as expanding its marketing team.
About Echelon
Echelon is a decentralized lending platform that operates on the Aptos blockchain. It connects liquidity and boosts yields by allowing users to lend and borrow digital assets. The platform offers high collateralization rates and cost-effective borrowing options. Echelon also integrates with other DeFi applications and supports real-world assets, making it a versatile tool for decentralized finance.
Website: https://echelon.market/
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About Investor
Investor: Amber Group
Amber.ac is an initiative focused on driving innovation at the intersection of cryptocurrency and artificial intelligence (AI). The platform supports visionary projects from their early stages to full-scale development by providing capital, technical expertise, and liquidity. Amber.ac also fosters a community of builders, investors, and futurists, offering resources and connections to help bring groundbreaking ideas to life.
Location: Singapore
Website: https://amber.ac/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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