Echelon

What Echelon does

Echelon is a decentralized, non-custodial lending protocol purpose-built with the Move programming language and deployed across the Aptos, Movement, and Initia blockchains. The protocol enables capital-efficient, over-collateralized lending and borrowing via modular, risk-optimized markets, complemented by a Fixed Yield module that tokenizes yield exposure through Principal Tokens (PT), Yield Tokens (YT), and Standardized Yield (SY) wrappers priced on a logarithmic AMM with dynamic fees. Cross-chain deposits are enabled via LayerZero, allowing capital from external chains to flow into Echelon's vaults.

The platform targets two customer segments: DeFi-native users seeking yield on deposits or leverage through over-collateralized loans, and institutional participants seeking DeFi lending infrastructure on Move-based blockchains. The user experience is fully self-serve and permissionless through a web app at app.echelon.market, with no accounts, intermediaries, or KYC gating beyond jurisdictional restrictions. Distribution relies on Discord, X (Twitter), comprehensive documentation, and a public GitHub SDK for developer integrations.

Revenue is generated indirectly through interest rate spreads, a protocol-level Reserve Factor on interest, a 2.5% liquidation fee, and a 50% close factor. The company has not publicly disclosed revenue. It closed a $3.5 million seed round in August 2024 led by Amber Group, with participation from Saison Capital, Maelstrom (Arthur Hayes), Laser Digital, LayerZero Labs, Re7 Capital, and others. The legal entity, Echelon Labs, is domiciled in the British Virgin Islands. Operational scale at the time of data capture stood at approximately $24.6M in total deposits and $15.1M in active loans.

Name

Echelon

Legal name

Echelon Labs

Website

https://echelon.market

Company type

Private

Founded year

2024

Operating status

Operating

Short description

Echelon is a non-custodial DeFi lending protocol built on Move, deployed across Aptos, Movement, and Initia, offering over-collateralized lending, Fixed Yield tokenized yield products, and cross-chain deposits to DeFi users and institutional participants.

Ownership category

akta.pro rank

Product category

Decentralized Lending Protocol

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG)

Keywords

• Decentralized lending protocol
• Over-collateralized loans
• Fixed yield markets
• Move blockchain defi
• Cross-chain lending vaults

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Others, Infrastructure, Marketing or Sales, Personnel

Revenue model

1. Interest Rate Spread: The protocol generates revenue through the spread between lending and borrowing interest rates. A portion of interest is allocated to the Reserve Factor, calibrated based on asset risk. Liquidation fees (2.5%) and close factor mechanics (50%) also contribute to protocol revenue.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Echelon is a decentralized, non-custodial lending protocol built with the Move programming language and deployed on Aptos, Movement, and Initia blockchains. It enables users to supply assets for yield, borrow via over-collateralized loans, and access a Fixed Yield module that tokenizes yield-bearing assets using Principal Tokens (PT), Yield Tokens (YT), and Standardized Yield (SY) wrappers.

Product overview

Echelon is a decentralized, non-custodial lending protocol designed as the Universal Lending Market for the Move ecosystem. The platform is currently deployed on Aptos, Movement, and Initia blockchains. Its core offering includes a capital-efficient lending market enabling over-collateralized loans, supplemented by a Fixed Yield module for tokenized yield trading. The platform integrates cross-chain functionality via LayerZero for deposits across multiple chains. Key products include the Core Lending protocol, Fixed Yield markets (using PT/YT token mechanics), Cross-Chain Vaults, and the ELON governance token. The protocol offers an SDK for developer integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Echelon Core Lending A non-custodial lending and borrowing market where users supply liquidity to earn yield or borrow against crypto collateral through over-collateralized loans on Aptos, Movement, and Initia. Targeted at DeFi users seeking capital-efficient yield and permissionless leverage.
• Echelon Fixed Yield A yield-tokenization module that allows users to tokenize yield-bearing assets, trade fixed yields, and use tokenized yield positions as composable collateral within Echelon's lending markets. Designed for DeFi users seeking predictable returns and leveraged yield exposure.
• Cross-Chain Lending Vaults Lending vaults accessible from multiple source chains via LayerZero-powered cross-chain deposits, giving users unified access to Echelon's lending rates across ecosystems. Targeted at DeFi users with assets on non-Echelon chains.
• Echelon SDK A software development kit available via GitHub for integrating with the Echelon lending protocol on Aptos, including testnet integration guides and package addresses. Targeted at developers and DeFi integrators.
• ELON Token Echelon's native governance and utility token, with allocations to core contributors, investors, and community/ecosystem growth, supporting protocol governance and incentive programs.

Quantifiable outcome

• Battle-tested platform with 6+ audits from Zellic, Quantstamp, Ottersec, Code4rena/Zenith, and Plainshift
• +1 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered major and core.

• Ethena LabsmajorTechnology or IntegrationDeFi partner providing sUSDe integration. Echelon supports sUSDe as a lending asset and offers sUSDe/sUSDE markets.
• LayerZerocoreTechnology or IntegrationInfrastructure partner enabling cross-chain deposits, allowing users to deposit assets from multiple source chains to Echelon's lending vaults.
• CirclemajorTechnology or IntegrationPartner providing USDC infrastructure and integration for Echelon's stablecoin lending markets.
• PancakeSwapmajorTechnology or IntegrationDeFi ecosystem partner for liquidity and trading integration.
• WormholemajorTechnology or IntegrationCross-chain infrastructure partner for asset bridging.
• PythcoreTechnology or IntegrationOracle provider supplying asset price data for Echelon's lending markets.
• ChainlinkmajorTechnology or IntegrationOracle infrastructure partner providing price feeds.

Scale indicators3 records

Recent moves4 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/EchelonMarket
• GitHubgithub.com/EchelonMarket/echelon-sdk

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Echelon