Aptos and Sui, the two giants in the Move ecosystem, have been engaged in fierce competition in terms of consensus algorithms, developer community building, and business resources. They have taken completely different paths in terms of the direction of ecosystem development. Sui has chosen a realistic approach, focusing on incubating DeFi and Meme projects, while Aptos has chosen an idealistic approach by focusing on the Bitcoin ecosystem.
Aptos’ Bitcoin ecosystem strategy, represented by @Aptos, currently follows a “two-pronged” approach. One prong involves collaborating with the established Bitcoin Layer2 Stacks to quickly enter the market leveraging their mature technology and user base. The other prong involves deep collaboration with the rising star B² Network to capture the growth potential of the new paradigm of Bitcoin L2. Today, we will focus on the protagonist – Echo Protocol @EchoProtocol_, an important piece in the large game between Aptos and Bitcoin.
Echo Protocol has deep connections with B² Network. As an important member of the B² Network ecosystem, Echo has taken on the responsibility of bringing BTC into the Aptos ecosystem. Interestingly, this small yet powerful project has attracted an unexpected investor – “Crypto King” Arthur Hayes.
Why would Arthur Hayes have such high regard for Echo Protocol? Perhaps the answer lies in one of his bold predictions. Hayes believes that in the current market cycle, Aptos’ performance may surpass that of Solana and has the potential to become the second largest Layer1 public chain after Ethereum in one to three years. And Echo Protocol undoubtedly serves as the perfect link between Aptos and Bitcoin, the two tracks he favors.
So, what makes Echo Protocol stand out?
First and foremost, Echo is not just a simple BTC bridging tool, but a comprehensive protocol that integrates BTC bridging, liquidity staking, restaking, and yield optimization. This “one-stop” service model significantly reduces the user’s operational barriers and improves fund utilization.
What is even more remarkable is Echo’s “real yield” model. Unlike those illusory “point rewards” on the market, Echo, through deep collaboration with Aptos, provides users with up to 10% actual annualized yield. These earnings are distributed monthly in the form of APT tokens based on the BTC dollar value of user staking. This model not only creates stable cash flow for BTC holders but also introduces a large amount of high-quality assets into the Aptos ecosystem, achieving dual benefits.
Echo’s ambition does not stop there. The project plans to build a multi-level reward ecosystem by introducing Bsquared and the upcoming Babylon points. Users can choose between different token rewards based on their preferences while also enjoying the basic APT yield. This flexible reward mechanism will undoubtedly greatly stimulate user participation.
In terms of risk control, apart from the usual DeFi risks, there are virtually no other risks for users staking BTC on Echo. This low-risk, high-return model is reminiscent of MakerDAO’s treasury income project. Echo is bringing institutional-level stable income to ordinary users, which undoubtedly has great appeal in the current market environment.
For miners and large BTC holders, Echo holds even greater significance. 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 like BRC20 and Runes but also injects new vitality into the entire Bitcoin economy.
The market performance of Echo 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 yield brought by their “digital gold” through Echo.
However, Echo’s ambition clearly goes beyond that. The upcoming whitelist activity by the project will bring in more active users to the ecosystem. Participants will not only enjoy up to 10% yield 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 28th. First come, first served. For users without BTC, Echo also provides a solution – they can exchange USDC, USDT, or APT for aBTC on the Aries and Cellana DEX platforms and then participate in staking.
In this ever-changing crypto world, Echo undoubtedly represents a bold attempt and a high-stakes gamble. It is not only betting on the future of Aptos but also on the position of Bitcoin in the new generation of public chain ecosystems. Let us wait and see what results this gamble by Arthur Hayes will ultimately bring.
