Echo Protocol Launches TGE, Surpasses $878 Million TVL on Aptos

Echo Protocol, the leading DeFi protocol on Aptos, has launched its token generation event (TGE), marking a significant milestone in its growth and the broader Bitcoin DeFi (BTCfi) ecosystem on Aptos. The protocol, which is the largest on Aptos by total value locked (TVL), has seen remarkable growth and community engagement, driven in part by its participation in the Aptos Foundation’s LFM program.

Echo Protocol enables users to unlock yield opportunities on their Bitcoin holdings through aBTC, a cross-chain liquid Bitcoin token backed one-to-one by BTC. This token powers liquidity and collateral mobility across Aptos-native DeFi protocols, making Bitcoin a productive, on-chain asset within the Aptos ecosystem. The protocol has minted over $285 million in aBTC and secured 65% of all bridged BTC assets on Aptos, positioning itself as a key player in the growth of BTCfi on the platform.

Echo’s TGE follows a period of record-breaking growth, with the protocol surpassing an all-time high of $878 million in TVL. This growth has been fueled by incentive campaigns, integrations with leading DeFi projects in the Aptos ecosystem, and high user engagement. To date, Echo is responsible for more than one million user transactions and 60,000 daily active users, demonstrating its significant impact on the Aptos DeFi landscape.

Jonathan Phay, co-founder of Echo Protocol, highlighted the importance of the TGE, stating, “The launch of the ECHO token marks a major milestone in our mission to bring BTCfi to life. With this TGE, we are unlocking a new phase of growth for our ecosystem and creating real opportunities for users, builders, and the broader Aptos community.”

Echo’s rapid evolution has been supported through its participation in the Aptos Foundation’s LFM program, which provides strategic mentorship, marketing resources, and ecosystem-wide support for Aptos-native projects preparing for TGEs and beyond. Ash Pampati, head of ecosystem at Aptos Foundation, noted, “Echo Protocol has been instrumental in making BTC a productive, on-chain asset within the Aptos ecosystem. This is a major milestone not just for Echo, but for BTCfi adoption on Aptos as a whole. Supporting Echo through its participation in LFM has been a key part of our mission to help Aptos-native projects scale and succeed.”

Following its TGE, Echo plans to continue driving BTC liquidity and composability across the ecosystem, with new products and integrations aimed at expanding BTCfi use cases. ECHO tokens will be available to users via Binance Alpha, Gate, and Kucoin, further enhancing the protocol’s accessibility and utility. Echo Protocol is backed by leading investors such as Aptos, Maelstrom, and Selini, and is rapidly becoming the go-to layer for BTC capital efficiency in the modular DeFi stack.

In summary, Echo Protocol’s TGE represents a significant step forward in advancing Bitcoin utility on Aptos. The protocol’s innovative approach to unlocking yield opportunities on Bitcoin holdings, combined with its strategic partnerships and community engagement, positions it as a leader in the BTCfi space. As Echo continues to drive BTC liquidity and composability across the Aptos ecosystem, it is poised to play a crucial role in the future of DeFi on the platform.