PANews reported on October 21 that Echo Protocol officially announced that the project has completed the Pre-Seed round of financing. Investors include Spartan Group, ABCDE Capital, Maelstrom Fund, Selini Capital, Web3Port, Auros, Presto Labs, Sats Ventures, Aptos, Movement Labs, B² Network and other well-known institutions.

Echo Protocol is the first Bitcoin liquidity re-staking and yield infrastructure layer based on MoveVM. It currently locks 2,000 BTC and integrates with DeFi projects such as Cellana and Aries. Users can convert BTC to aBTC through Echo and deposit it to obtain an annualized APT yield of up to 12%, while also receiving rewards such as Echo Points and B² Points. Echo will open its first public offering vault on October 28, and only whitelisted users can participate in BTC staking.