💬aBTC

Users can start bridging uBTC by depositing their BTC with Bsquared. They will then receive uBTC through UniRouter and can use this uBTC to obtain aBTC on Echo. Echo Bridge and Echo Lend is now on mainnet, and eligible participants are able to bridge uBTC and mint aBTC.

Echo Bridge and Echo Lend are now live on the mainnet, allowing eligible participants to bridge uBTC and mint aBTC. Depositing aBTC on Echo Lend will be publicly available in early September 2024, with deposit limits in place. We have introduced an aBTC Waitlist to manage demand, offering early participants exclusive access and benefits over time.

What is aBTC?

aBTC is a cross-chain, liquid Bitcoin token backed 1:1 by BTC. It is minted on Aptos and facilitates DeFi interoperability within Aptos for Bitcoin, enabling users to earn real yield within ecosystems like Aptos, and will be fully supported across the Aptos DeFi network

What Bitcoin assets can be staked into Echo?

Echo is able to integrate with all the native BTC L2s including Babylon and accept different BTC LSTs, and allow users to deposit BTC directly without relying on any Bitcoin staking protocols.

What happens after bridging Bitcoin assets to Echo?

Upon bridging Bitcoin assets to Echo,

• Echo validators monitor user deposit events, and sign with validator private key, and send validated events to submitters.

• Echo submitters monitor the user deposit events to verify validated events from validators, and then submit to Echo on Aptos. If a dishonest validator is identified, report it to the admin and block it.

• User are to be able to mint and receive an amount of aBTC equivalent to the BTC assets staked on their selected network.

What are fees for bridging assets on Echo?

A 0.2% bridging fee applies each time users transfer assets in or out of Echo.

What will be the return (yield) of aBTC?

Users can earn up to 12% APT rewards from Aptos by depositing aBTC into Echo Lend.

The yield incentive partnership between Echo and Aptos allow users to secure the highest and most secure yield on their Bitcoin assets.

Where can I use aBTC?

aBTC can be used across a wide range of DeFi platforms and protocols within Aptos. You can leverage aBTC in liquidity pools, yield farming, lending and borrowing platforms, and as collateral for various financial products. As we continue to expand our integrations, the use case of aBTC will grow, providing even more opportunities for users to maximize their returns.

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