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Echo Protocol Launches on the Aptos Network

Twitter icon  •  Published 3 months ago on August 29, 2024  •  Hassan Maishera

On Wednesday, Aptos Labs announced via X that Echo Protocol has launched on the Aptos blockchain.

Echo Protocol Launches on the Aptos Network

On Wednesday, Aptos Labs announced via X that Echo Protocol has launched on the Aptos blockchain. With Echo Protocol, users can now bridge BTC assets to Aptos and receive aBTC through B Squared Network, which offers up to 12% APY on Echo. As the first Bitcoin-native asset on Aptos, aBTC will be integrated and utilized across Move-based DeFi protocols.

Users can deposit BTC directly without relying on traditional Bitcoin staking protocols, positioning Echo as a key player in attracting fresh capital to the Move DeFi ecosystem.

Aptos is a scalable layer-1 blockchain based on the Move programming language. APT is the project's native token. APT is up 3%, trading at $6.66 per coin.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.