Echo Lending TVL Surges to $210M, Becoming the Best Weekly and Monthly Performer Among Aptos-Based DeFi Apps

Echo Lending, a Bitcoin-oriented yield protocol on Aptos, saw its total value locked (TVL) surge to a record $210 million on Friday, October 25

Echo Lending, a Bitcoin-oriented yield protocol on Aptos, has achieved a remarkable milestone with its total value locked (TVL) skyrocketing to a record high of $210 million on Friday, October 25, as reported by DefiLlama. This platform has experienced an impressive surge in October, starting the month with less than $2,000 in TVL.

Echo ranks as the best weekly and monthly performer among decentralized finance (DeFi) applications on Aptos.

This protocol serves as the liquidity layer on Bitcoin and aims to expand BTC’s capabilities in DeFi. It enables users to bridge, restake, and earn yield from Bitcoin assets on Move, Aptos’ programming language and smart contract ecosystem.

Last week, Echo announced an initiative to enhance BTC’s role in DeFi. The platform allows users to earn APT rewards with potential returns of up to 10%.

Echo Lend is the main product, allowing users to deposit aBTC, an Aptos-based token that tracks the price of Bitcoin, and start earning rewards immediately without any lockup period.

Echo Bridge has a record value of nearly $150 million,大部分 of which represents aBTC bridged at the end of August.

With over $150 million worth of aBTC deposited on Echo Lend, the token comprises 78% of the lending platform’s value. It also supports APT, with $35 million in TVL, as well as USDC, with over $5 million, and USDT, with over $1 million worth of tokens.

notably, Echo has attracted significant support from key players in the blockchain industry, having secured pre-seed funding from investors such as Spartan Group, Aptos, Movement Labs, ABCDE Capital, Arthur Hayes’ Maelstrom, Selini Capital, Web3Port, Auros, Presto Labs, BSquared, and Sats Ventures.

Echo's bridging and yield solution is designed to provide a seamless experience for Bitcoin holders.

“At Echo, we’re aiming to empower Bitcoin holders—especially miners and investors—by providing a way for them to earn a sustainable yield without having to sell their BTC,” explained Jonathan Phay, CEO of Echo Protocol.

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