According to ChainCatcher, general lending market Echelon Market has completed a $3.5 million seed round of financing, led by Amber Group, with participation from Laser Digital, Saison Capital, 280 Capital, Cypher Capital and others.
Echelon’s core money market enables lending and borrowing of assets through non-custodial pools. All positions are overcollateralized to protect lenders while providing borrowers with the highest capital efficiency and cost-effective rates.
According to RootData, Echelon is a decentralized financial market written in the Move programming language. Its users can borrow and lend assets to each other indirectly through non-custodial pools to earn interest or increase purchasing power through leverage.