Cypher Capital invests $3.5 million in Echelon to improve DeFi lending on Move-based blockchains.

From Investing.com

August 28, 2024 8:30 AM:

Cypher Capital invests $3.5 million in Echelon, a decentralized lending platform aiming to enhance DeFi by improving capital efficiency and innovative yield strategies on Move-based blockchains. The seed round also has support from Amber Group, Laser Digital, and more. Echelon plans to develop new lending products and expand globally.

Cypher Capital is committed to supporting advanced DeFi solutions and blockchain technology through their investment in Echelon’s innovative lending protocol. With a focus on capital efficiency and user-friendly design, Echelon aims to integrate real-world assets and provide high-performance lending markets. This funding will help Echelon develop new lending and risk management products, expand to new networks, and build a team of engineers.

Echelon, a high-efficiency decentralized lending protocol, enables users to borrow and lend assets through non-custodial pools. With isolated pools for niche asset markets, leverage staking, and RWA-backed vaults, Echelon positions itself as a leader in the next generation of DeFi protocols. The platform targets institutional-grade markets and offers innovative yield opportunities.

Read more at Investing.com: Cypher Capital Invests in Echelon Seed Round By Chainwire