Dubai, UAE, August 28th, 2024,
Chainwire
Cypher Capital, a multi-strategy crypto
investment firm, today announced its role in a $3.5 million seed
funding round for Echelon, an innovative decentralized lending
protocol. The seed round attracted additional support from
strategic partners including Amber Group, Laser Digital, Saison
Capital, Selini Capital, Interop Ventures, and Re7.
This investment demonstrates Cypher Capital’s commitment to
supporting advanced solutions in decentralized finance (DeFi) and
blockchain technology. Echelon aims to enhance DeFi lending by
improving capital efficiency, integrating with other DeFi
applications, and providing innovative yield strategies on
Move-based blockchains such as Movement and Aptos.
“Echelon has demonstrated that their project is truly
driving innovation in the DeFi space,” said Harsh Agarwal,
Investment Lead at Cypher Capital “Echelon’s focus on capital
efficiency, user-friendly design, and its potential to integrate
real-world assets makes it a standout in the evolving DeFi
landscape. We are excited to support their efforts in developing
high-performance lending markets.”
Echelon’s protocol features advanced functionalities including
increased borrowing power on correlated assets, isolated pools for
niche asset markets, and direct in-wallet integration for
streamlined yield strategies. The platform is designed to target
institutional-grade markets while ensuring affordable borrowing
rates and innovative yield opportunities.
“This funding will help us build additional lending and
risk management products, expand to new networks, and provide
global access to dollar denominated yields,” said Glen Rose,
cofounder of Echelon. “We’re excited to build core primitives on
high performance Move-based chains.”
With the new funding, Echelon plans to enhance its offerings by
developing strategies backed by treasury and real-world assets
(RWAs), implementing cross-chain deposit vaults, and expanding its
team of full-stack and smart contract engineers.
About Cypher Capital
Cypher Capital is a leading early-strategy venture firm focused
on investing in Web3 infrastructure and applications that will
drive the new digital economy. Guided by environmental, social, and
governance for every investment decision, Cypher is shaping the
future of digital currency, public markets, and Web3.
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About Echelon
Echelon is a high-efficiency decentralized lending protocol that
enables users to borrow and lend assets through non-custodial
pools. Its platform enhances capital efficiency and borrowing power
while providing secure, overcollateralized positions. Echelon
supports isolated pools for long-tail assets and offers streamlined
leverage staking and RWA-backed vaults, positioning itself as a
leader in the next generation of DeFi protocols.
Contact
Media
Manager
Shameem
Sha
shameem@cyphercapital.com