- Echelon aims to improve capital efficiency with features for institutional markets.
- Cypher Capital participated in Echelon’s $3.5M seed round.
- The funding supports the development of new products, RWAs, and expansion to new networks.
Cypher Capital, a prominent multi-strategy crypto investment firm, has announced its participation in a $3.5 million seed funding round for Echelon, a revolutionary decentralized lending protocol.
The Echelon seed funding round also saw participation from notable strategic partners, including Amber Group, Laser Digital, Saison Capital, Selini Capital, Interop Ventures, and Re7. Cypher Capital’s investment signifies its dedication to advancing decentralized finance (DeFi) and blockchain technology.
Cypher Capital supports Echelon’s DeFi advancements
Echelon aims to transform the decentralized lending landscape by enhancing capital efficiency and integrating with other DeFi applications. The protocol operates on Move-based blockchains, such as Movement and Aptos, providing users with advanced lending functionalities.
Echelon’s platform is designed to optimize borrowing power through correlated assets, offer isolated pools for niche markets, and enable seamless in-wallet yield strategies. This approach targets institutional-grade markets while maintaining affordable borrowing rates and innovative yield opportunities.
Funding to enable Echelon to expand products
The new funding will enable Echelon to develop additional lending and risk management products, expand its network reach, and enhance its global offerings. The protocol plans to implement strategies supported by treasury and real-world assets (RWAs), cross-chain deposit vaults, and recruit more full-stack and smart contract engineers.
Glen Rose, the co-founder of Echelon, expressed excitement about building core primitives on high-performance Move-based chains, aiming to position Echelon as a leader in the next generation of DeFi protocols.
Cypher Capital’s investment in Echelon underscores its commitment to supporting innovative solutions in the digital economy, reinforcing its role in shaping the future of Web3 infrastructure and applications.
Harsh Agarwal, the Investment Lead at Cypher Capital, in a press release shared with Coinjournal said that they are excited to support Echelon’s efforts in developing high-performance lending markets seeing that it has demonstrated that it is truly driving innovation in the DeFi space by integrating real-world assets.
The post Cypher Capital backs Echelon in $3.5 million seed round appeared first on CoinJournal.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments