Coin World Report:
Echo not only bets on the future of Aptos, but also on the position of Bitcoin in the new generation of public chain ecology.
Authored by: NingNing
The competition between Aptos and Sui in the Move ecosystem has always been fierce, and they have waged a comprehensive war in consensus algorithms, developer community construction, business resources, and so on. They have taken completely different paths in choosing the direction of ecosystem development. Sui chose a realistic route, focusing on incubating DeFi and Meme projects, while Aptos chose an idealistic route and laid out the Bitcoin ecosystem.
Aptos’ Bitcoin ecosystem strategy is currently “walking on two legs”. One leg is cooperation with the veteran Bitcoin Layer2 Stacks, quickly entering with the help of its mature technology and user base. The other leg is deep cooperation with the emerging B² Network to obtain the growth dividends of the new paradigm of Bitcoin L2. And the protagonist we are focusing on today, Echo Protocol, is an important piece in the big chess game between Aptos and Bitcoin.
Echo Protocol has a deep connection with the B² Network. As an important member of the B² Network ecosystem, Echo has undertaken the important task of bringing BTC into the Aptos ecosystem. Interestingly, this small and beautiful project has attracted an unexpected investor – “Little Black Brother” Arthur Hayes.
Why is Arthur Hayes so interested in Echo Protocol? The answer may lie in one of his bold predictions. Hayes believes that in the current market cycle, the performance of Aptos may surpass Solana and is expected to become the second largest Layer1 public chain after Ethereum within one to three years. And Echo Protocol is undoubtedly the perfect link between Aptos and Bitcoin, the two racetracks he is optimistic about.
So, what makes Echo Protocol outstanding?
First of all, Echo is not a simple BTC bridging tool, but a comprehensive protocol that integrates BTC bridging, liquidity staking, restaking, and yield optimization. This “one-stop” service model greatly reduces the user’s operation threshold and improves capital utilization efficiency.
What is even more remarkable is Echo’s “real yield” model. Unlike those flashy but impractical “point incentives” on the market, Echo, through deep cooperation with Aptos, provides users with up to 10% actual annualized returns. These returns are distributed monthly in the form of APT tokens, based on the BTC dollar value calculated by user staking. This model not only creates stable cash flow for BTC holders but also introduces a large number of high-quality assets into the Aptos ecosystem, achieving double benefits.
Echo’s ambitions go beyond this. The project plans to build a multi-level reward ecosystem by introducing Bsquared and the upcoming Babylon points. Users can choose from different token rewards according to their preferences while also enjoying the basic APT returns. This flexible reward mechanism will undoubtedly greatly stimulate users’ enthusiasm for participation.
In terms of risk control, in addition to the usual DeFi risks, there are almost no other risks for users to stake BTC on Echo. This low-risk, high-yield model reminds people of MakerDAO’s national debt yield project. Echo is bringing institutional-level stable income to ordinary users, which is undoubtedly very attractive in the current market environment.
For miners and large BTC holders, Echo is even more significant. Against the backdrop of the upcoming Bitcoin halving cycle, Echo provides them with a new option to generate stable income without selling BTC. This not only complements the ecosystem of projects such as BRC20 and Runes but also injects new vitality into the entire Bitcoin economy.
Echo’s market performance also confirms the feasibility of its model. Currently, Echo has attracted deposits of 2,000 BTC, which is undoubtedly an impressive achievement in the current market environment. These users are safely enjoying the real returns brought by their “digital gold” through Echo.
However, Echo’s ambitions clearly go beyond this. The project will soon launch a whitelist activity to bring more active users to the ecosystem. Participants can not only enjoy returns of up to 10% and 1.5 times Echo points but also have the opportunity to obtain special Discord roles. This community incentive mechanism will create a more active and loyal user community for Echo.
It is worth noting that the deposit limit for this round of activity is 500 BTC and will open at 2:00 UTC on October 28. It is first-come, first-served. For users without BTC, Echo also provides a solution – they can exchange USDC, USDT, or APT for aBTC on the DEX platforms Aries and Cellana, and then participate in staking.
In this ever-changing crypto world, Echo undoubtedly represents a bold attempt and a gamble. It not only bets on the future of Aptos but also on the position of Bitcoin in the new generation of public chain ecology. Let’s wait and see what results Arthur Hayes’ gamble will ultimately bring.