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Echo x Aptos: BTCFi, TGE & What’s Next
Recorded: July 1, 2025 Duration: 0:57:00Space Recording
Short Summary
Echo Protocol is set to launch its token on Binance Alpha, marking a significant milestone in its journey. With a total value locked of 2,500 BTC and a growing community, Echo is poised to lead the BTC5 narrative on Aptos, showcasing the potential for Bitcoin in DeFi.
Full Transcription
Music Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. GMGM, thanks everyone for joining this extra special space.
JP from Echo Protocol.
I think there's no further introduction for today.
What's in store for the agenda in this space?
Of course, today we have Jay, who's the head of DeFi over at Aptos.
I think today we'll be speaking a bit about how ECHO and Aptos is planning to broaden and
expand the future of BTCPY, touch a little bit on Aptos upcoming TGE, and then what's
next for ECHO or Aptos itself.
So welcome, Jay, if you would like, happy to let you give a short introduction.
All right, GM, nice to meet everyone. My name is Jay. I lead DeFi growth at Aptos Foundation,
so work very closely with all DeFi projects, including Echo.
All right, so big week for you, JP.
How are you feeling?
Yeah, I think the nerves are starting to kick in.
I think everyone also knew that yesterday we had a big announcement.
We are officially the first project on ANOS to be on Binance Alpha.
That also comes with a few other SACS listings that we have on KuCoin and Gate.
So super excited to see what happens tomorrow.
Hopefully, with all the pre-TG campaigns that we have been doing,
all the users' participants.
We hope that it will be a successful one and look forward to see
what comes next after tomorrow.
Yeah, amazing, man.
I think it's a very big news, right?
It's been a while since Aptos had a big TGE
and not only a big TGE,
a big TGE happening with Binance Alpha,
probably the largest launch platform today.
And you guys are the first Binance Alpha project on Aptos.
So this is super exciting.
And I think as part of the ecosystem growth,
one thing that the community really cherish is also hearing
more about the person behind echo your journey right i think i'm personally also very curious
to to hear more about how your your journey on aptos started right so i think it would be very
interesting right to hear more about your founder story yeah uh happy to share a bit on how we actually started Echo on Aptos.
So we came into the ideation stage of Echo around last year in June or July.
So back then, I think within the entire Aptos DeFi ecosystem, we saw that as much as PTCPy
was growing, at the start of 2024, Babylon came out, combined
with Lorenzo, Lombard, a huge flow of BTC started flowing into a lot of L1 and L2.
And when we fast forward from January of 2024 all the way to June of 2024, surprisingly, you know,
Aptos being one of the top L1s among the entire ecosystem, among the entire blockchain space,
we didn't really see a huge inflow or any inflow of like BTC assets into the ecosystem.
into the ecosystem.
So I think that was really when we did a deep dive
and we realized that the potential for BTC5 on Aptos
is so huge, right?
With its current infrastructure,
with its low gas fees, high finality, high security,
what better ecosystem than Aptos than to bridge BTC over into its ecosystem.
So we started Echo in July, went live in August. We had the first ever BTC bridge into Aptos,
whereby essentially we allow BTC of different assets to be bridged into Aptos whereby essentially we allow, you know, PTC of different assets to be bridged into Aptos
and to be deployed and used in its different smart contracts on its various DeFi protocols.
I think at the very early stage we were integrated and until today we are very grateful for some of the DeFi partners in Aptos like Seleni,
Joe, Tala, Echelon, Ares, and more recently, Hypoin as well.
So I think all of the DeFi partners within the Aptos ecosystem has worked tremendously
hard in order to help Echo to be such a huge success within the BTC5 on Aptos itself.
From then on, I think we started to grow our TVL.
We saw a search of TVL, I think we breached in about 2,500 BTC.
I think among all of the L1s, right now Aptos is holding one of the most BTC on-chain itself.
And that really showcased and highlights our vision of making Aptos one of the strongest BTC hub.
More recently, we also launched an ex-BTC campaign with OKEx.
And we had, I think, about 60 to 70 million new inflow of BTC into Aptos.
And that really continues to strengthen Aptos' position in the BTC ecosystem.
And I think what's next for Echo and myself as founder of Echo is really,
how do we continue to make these assets productive and synergistic with the rest of the
other ecosystem and partners within the ecosystem right amazing it's uh i'll say like nine months
right nine ten months of of journey since your mainnet launch you guys launched your mainnet
you guys started your first one million of tvr and then gradually grew to more than close to 300
million tvr over the past year so like huge huge huge growth i speak to a lot of founders over the
past few years and they always say there's two big moments in their in their entrepreneur founder
journey right number one it's the main net launch and the number two it's it's a tge right for for your perspective which one is is more intense right the main net launch last year
or the upcoming tge yeah i think uh if i were to put things into perspective uh back then when we
did the main net main net launch i think the stress that and the stress that we were filling back then versus TGE is a lot lower.
I think typically for projects that first do their main net launch,
projects are typically at this earlier stage.
You know, not many users or community members
are actually focusing and paying a lot of attention.
Of course, it's up to the founder and team
to actually ensure a successful mainnet launch,
grow users through increasing its product offering.
But I think the stress level we feel
from TGE versus mainnet is very different
because I think with TGE, there's a lot of scrutiny.
There's a lot of, you know, everyone all sudden, you know, everyone knows about your project
now, right?
And everyone's just also waiting to see, you know, where are you going to get listed on?
You know, how's the agile mechanism going to be like?
Who's going to get what allocation?
So I think in a way,
there's a lot more responsibility because on mainnet itself,
technically you don't really have,
you do have a working product,
but you don't have a big set of users yet.
But for TGA itself,
it's kind of how you reward
and how you actually be held accountable
and responsible for all the users,
all the community members, and even the foundation, right, for supporting you for the past nine months.
So definitely, I think if you were to compare the level of stress between RTG and Mainnet,
definitely, I think it's incomparable.
uh you can't it's incomparable yeah yeah i'd say all eyes within the aptos community are on
echo this week right uh everyone is like when tokenomics when airdrop right did you even manage
you get much sleep over the past few days yeah so if i were to share our entire journey, to be honest, pretty crazy.
To be very candid with everyone, we kind of got our offer way later than expected.
So for the past one week, it has been a full on from marketing to product to strategy to even like, you know, discussions with listing.
I think for most people, they only see, you know, oh, you know, it's TGE on Success,
it's TGE on Binance Alpha, but they don't, they underestimate what, how much prep work
we have to do beforehand, right?
You know, obviously from marketing perspective, you know, there's so much to be beforehand, right? Obviously, from a marketing perspective, there's so much to be done, right?
Working with media, working with KOLs,
working with communities,
you have to basically send out different messages
to thousands or hundreds of thousands of people.
Kudos to the Echo Marketing team.
I think the team has done a fantastic job
during this entire period of sending out clear and concise
information to the community.
From a product perspective, of course, we need to get off our ad job mechanism, claims
out, counting out the points, thinking about how we are going to allocate
different tokens to different users.
Obviously, integrations with different BSC chain,
integration to allow creating bridges
so that BSC chain can be bridged over to Aptos as well,
Aptos back to BSC chain.
We also have to work on multiple things,
like ensuring that there's sufficient liquidity on different taxes
so that users are able to trade it, not just on taxes, but taxes as well.
Yeah, so I think the list of
things that you have to do pre-TG is endless.
And on top of that, I do pre-TG is endless.
And on top of that, I think post-TG is also another stressful time for the team.
So I think for me, I just want to give a shout out to my team for this one week of putting in so much effort.
I think all of us barely got any sleep.
Probably we are working around the clock, you know,
from Asia timing to us timing
as well as a huge shout out to the aptos team uh big big part of you know being uh big big part of
being in the lfm program also means that we get a huge support from foundation and labs team
so definitely super appreciative to everyone
who has contributed in one way or another leading up to our TGE itself
Awesome I think this kind of insights is something that most users and community members would like
they wouldn't really hear unless you know they are on this ama right so
it's a it's really great insights and i also see a lot of of community members on this space so like
quick shout out to the collective right i see alex i see sneezy chitan right dr wolon
andrew right i probably miss quite a lot of people i I also see the Movemaker folks, Samuel.
I see the Alpha team, Patrick.
We have a lot of projects.
Tab Exchange is also here.
So pretty much the Aptos community, the collective, the projects,
the accelerators, they're all in.
I also see Brent behind Petrol Wallet.
So a lot of amazing community.
So if you guys are here,
make sure you guys are retweeting this space.
Get as many people from the community in.
And this is one of the biggest space this month.
The month just started.
But super hype for Echo.
So, John, you mentioned that
your team has worked tirelessly over the past few weeks
and also worked very closely with the Aptos LFM team.
How has the LFM journey been?
How has that shaped your TGE journey?
Yeah, I think from the start to finish,
I think even from the very beginning,
from preparing exchange conversations
to building up the right product to launching
of pre-TGE campaigns.
I think the RFM team has been super helpful in terms of not just from an advisory perspective,
but also from an execution perspective.
but also from an execution perspective.
You know, there's just so many things to cover.
Pre-TGA itself, you know,
sometimes even getting feedback from collective members,
getting feedback from Aptos community.
We have to thank a lot of the CMs like O-On, LX.
You know, these are some members in the ANOS team that, you know, has been super
helpful and helping us to shape our campaigns and put out in a way that, you know, will be receptive
and beneficial for the AdNOS community. We have Maggie who helped a wonderful PM, managing expectations,
always keeping track on what needs to be done,
following timeline for us.
We also have Hayley A, who is a marketing star,
has worked very closely with our marketing team
to ensure that all the necessary PR, media, news
always get out on a timely basis.
Obviously, Jay, who has been helping us to shape
the way we should be building up our product
as well as some of the strategies
that we can deploy with the sexes and dexes as well.
So I think overall, you know, there's just so many individuals we have to thank
within the LFM team in Aptos itself.
But definitely, I couldn't imagine doing this without the team.
So even from a moral support itself, I think
we truly appreciate
everything that the AIR Fair team has
done for us.
I would say that
us having our TGE on
Binance Alpha, it's not just
credit
doesn't just go to the Echo team,
but it also goes up to the
foundation, goes up to the AIR Fair team, and most, but it also goes up to the Foundation, it goes up to the Airframe team,
and most importantly,
it also goes up to our community,
the Aptos community,
because without you guys,
we wouldn't even be able to be given this opportunity.
So to us, the way we see,
having a TGE is a huge win for everyone,
and that's why we want to be able to reward everyone as much as we can.
Yeah, 100%.
The community, it's everything.
They have been fervent supporters of Aptos, of Echo since the early days.
We have seen so many of the community writing threads over the past few days about Echo launching.
In Chinese community, in Chinese community,
in African community, in the Western community. So it's really amazing to see entire community coming in together to really support the Echo launch.
And I think the big topic on everyone's mind is Echo's tg happening tomorrow right how are you guys gearing
up right what can what can users expect right across the next uh the next day itself yeah i
think uh we'll be i think over the couple of uh days we have been slowly releasing where we'll be listing our token.
Yesterday, we did our Binance Alpha announcement together with our SACs listing on KuCoin and GIG.
Today, the main focus would really be...
Yesterday, we also launched our tokenomics so that we have clearer transparency on how the ECHO tokenomics is going to be like for a lot of the ECHO holders.
I think this will be something that they have been always looking forward to.
And but I think today, one of the purpose of the AMA is also to address a lot of the questions around our tokenomics, right, and airdrop. Today itself, I think after the space,
we will also be announcing our airdrop mechanism, as well as allowing users to start
checking for their airdrop allocation. So I think from now up to today, I think there will be a lot of exciting news as well as you have
to stay tuned to our Twitter, social media to find out the exact timing of our different
launchers timing as well as where you can actually start trading Echo token, be it on
Binance Alpha, Dexos or the Apt, or even sexes like KuCoin and Git.
Amazing.
Yeah.
Whenever I see an airdrop,
I'm always excited to look forward
a moment of the airdrop tracker.
And then the next big moment,
it's the official launch and claims. And yeah big big day for for you guys big day for the
community but it's another like wealth effect moment for the ecosystem another
token that's tradable that can have utility across the ecosystem so
personally very excited for it right and and thinking you know from mid to
long term you know beyond the tge people are always asking like you know what's what's the
roadmap for after what's the roadmap for echo or any alpha that you can share around this yeah i
think i can split this into three different parts, right? Definitely, we will continue to build on the success of our TGE.
Aside from just listing on, we will continue to expand our Echo token on different venues,
on both SECs and DEXs.
That means listing it on more exchanges, having more DEXs to support Echo token, so that is easier access for
all of our users. From the product perspective, definitely with a huge inflow of BTC from the
OKEx event, I think we want to continue to build on this success and continue to onboard even more BTC TVR on AppDos and not just onboard TVR,
but make this TVR productive, make it usable. So in that case, the way we see is we are planning
to also expand our product offering on the BTC5 side of things.
Definitely, I think we'll be very excited to launch new EW products
so that users will continue to lock
and stake their BTC on Actos, on Echo itself.
And the third thing is, of course,
I think as far as you guys have seen the announcement,
15% of our token supply is allocated to airdrop.
7% will be released on day one.
So a big part of what's going to come next
is also how we will continue to drive
a lot of ecosystem campaigns
as well as continuing to reward our Echo holders,
Echo Points users,
even more rewards throughout the upcoming months.
Amazing.
I think Ash is up as a speaker.
I do not know why my ex is bugging.
I can't see Ash as a speaker, but how's it can't hear you Ash.
Oh man, the man of the hour.
Oh man, the man of the hour.
Yeah, I think we can't hear you.
Yeah, I think we can't stay.
Okay, I think we can wait until Ash
shoots his technical issues.
You know, it's always like...
AGM.
AGM, Ash.
Yo, what's up?
Twitter's rugging me, as usual.
As usual.
I hope Nikita Beer can fix all of Twitter. Yo, what's up? Twitter's rugging me, as usual. As usual, yeah.
I hope Nikita Beer can fix all of Twitter.
I mean, the funny thing is that I'm seeing Ash as the listener still.
I do not know why.
He's a speaker of my hand, actually.
Yeah.
So, like, I am kind of... I'm not sure if Ash is speaking, but...
Okay.
It is what it is.
But, you know, today...
We probably can do...
Yeah, we probably can do one more with ash can you guys hear me yeah
yo what's up what's up so so john can hear me all right cool let's go
i think jay can't hear me awesome yeah i can i can hear you now ash always getting always getting
rocked by by x cool uh yeah so john how's how's the whole preparation the next 24 hours will you
be sleeping or will you just be up making sure everything is smooth? Yeah, I think definitely as much as I want to be up for the next 24 hours
because of the things that we have to do.
I think something that's very important is also delegation of work, right?
I think for every member of ECHO, everyone knows their role.
Everyone knows what needs to be done.
So I'm extremely grateful to be able to have a team that's able to execute things,
you know, individual responsibility, having the right synergies at the right time.
But more importantly is, I think as a team itself, everyone needs rest, right?
If let's say we are working 24 hours right now, it also shows that, you know, we are
not prepared as a team for TGE, but definitely we'll try to get some rest. I think the nerves
will definitely kick in. Whether I'll be able to sleep tonight, I'm not too sure.
But I think for the past one week or so, the team has already done all the necessary prep work,
know what needs to be done.
I think everyone will have a good sleep tonight.
And tomorrow it will be go time for the entire team.
But just want to say that, you know,
I wouldn't be able to do this without the support of my team members.
So definitely very, very appreciative to have such a strong team backing me.
I think many of you may not speak to them or hear from them,
but a lot of the work and credit really goes to them.
I'm just someone
that's representing the entire Echo team,
but as a team itself,
the credit
is always shared across everyone.
Amazing, man.
Spoken like a true leader.
I think what we see is that the community,
oftentimes they see the project, right?
They see the project announcements, right?
They don't really see the team.
So this kind of like one-to-one touch point
with the founder and the team,
it's always something that I personally feel
is very helpful for the community to hear.
And especially tomorrow as a TGE
for having this very personal touch point,
it's amazing.
One question that I'll always get is,
Echo is doing BTC5 on Aptos,
but a lot of people in the community
might not be super familiar with BTC5.
It can be quite a new concept to many.
So if you were to summarize BTC5 in a couple of sentences,
how would you summarize BTC5? And how would sentences, right? How would you summarize BTC5?
And how would you say Echo is tackling that front?
Yeah, I think Echo's solution is very simple, right?
I think at the end of the day,
especially since the start of the year,
with a lot of interest in BTC,
of course, you have institutions,
you have governments, you have private companies buying BTC. Of course, you have institutions, you have governments, you have private-instead companies buying BTC. I think BTC has already showcased throughout the years that it is
definitely the digital goal for crypto. And I think previously, a lot of the BTC were helped by, you know,
minders, early exchange wheels, but the narrative has kind of shifted, right?
If you speak with even like your parents or even your grandparents,
I think even the older generation have started to ask people,
have started to ask people, you know, what is BTC and how to buy BTC.
you know, what is BTC and how to buy BTC?
I think DeFi Summer kind of was during the period whereby a lot of DeFi native folks
was holding Ethereum.
And the reason why people were holding Ethereum back then was really clear, right?
Firstly, is they see a lot of potential upside from a price perspective.
The second is on top of being able
to hold weight for value,
we are able to use Ethereum on-chain
to do certain stuff like
using it as collateral for lending,
using it on DEXs to swap for other assets,
participating in strategies
on platforms like Pendle.
So I think the same thing goes for BTC, right?
Now that people realize and understand
that BTC is a store of value,
everyone will continue to buy BTC.
And, you know, the way that BTC can be bought
is in different ways, right?
You can buy it from an exchange.
You can buy it or you can use it on like,
you can use it like on staking protocols like Lombard, Lorenzo.
You can buy Rack BTC on exchanges itself.
And with so many of these BTC assets,
that's precisely where Echo comes in, whereby
we enable, be it whether you're a holder of red BTC, BTC RSTs, or native BTC, we enable
you to actually come into the Aptos ecosystem through Echo's solution. That way you receive a unified native BDC, ABDC,
which is basically an asset that, you know,
for a lot of native folks,
or even a lot of the current Aptos users,
they are very familiar with Aptos DeFi ecosystem, right?
So that's where we bridge BTC and DeFi together.
With ABDC, users are able to go on
all the different DeFi protocols
that they are comfortable with,
be it Hyperion, be it Thala, Ares,
to just go about doing the unnecessary
DeFi farming activities.
So basically, Echo allows users
to hold BTC of different standards
while farming, you know, defy yield on Aptos itself.
Amazing.
I think like yield farming with BTC,
it's something that there are limited opportunities out there.
So Echo being the trailblazer for BTC5 on Aptos. Amazing stuff. We have hit the time of
the spaces where we will gradually add people up to ask questions. So if you have any questions,
feel free to request. And then Echo or Aptos as the host and co-hosts will gradually add you guys in. And then while we are waiting for new speakers to join in,
I also have a question for Ash, right?
Ash, you have seen Echo growth over the past few months, right?
What are your thoughts around this upcoming TGE?
What are you looking forward to?
I mean, ever since I got introduced to Echo
and then eventually got to spend some time with JP, I felt like it was so bullish that there was a founder like this in the Aptos ecosystem and also a team.
Right. And then the numbers started to grow. And it basically proves your point, right, that if you're convicted and you ship and you have your team highly aligned, then the numbers speak for themselves.
And so I was very excited when we got the news
that Echo secured Binance Alpha.
I think it's no small feat.
It's trailblazing, you know, the path for the Aptos ecosystem.
And so the whole ecosystem and community should be very,
very grateful and also supportive for Echo and JP and team. So I see this TGE as a celebration of that journey, as I'm sure JP does, even
though they can't sleep. We won't sleep either on our side. And so it kind of shows the next
phase of what can happen and where things go. I think TGEs are an opportunity to create tremendous awareness for your brand, your
team, but also your product.
And so this is another growth mechanic to drive more attention into Echo and then also
utilization by retail in Aptos DeFi.
So it's hugely important.
I also think on the BTCFi narrative,
it's amazing that we get to lead with this, right?
With Echo and JP at the helm.
So, you know, I feel like there's tons.
I actually had a conversation with John and, you know,
earlier and I was like, man,
how long have you been focused on BTCFi, right? Because there's been a few cycles where like, you know, everyone, and I was like, man, how long have you been focused on BTC5, right? Because
there's been a few cycles where like, you know, everyone was hot on it, and then they kind of
forgot about it. And now everyone's super hot on it again. But I think now is different, right? Like,
now is different, because obviously, there's a bunch of institutional interests, right?
Right. The idea that we're just going to have an unlimited supply of coins that just find product market fit with broad user bases, I think, is fading. Right.
And so now it's about really bringing on deeply liquid, highly tradable assets on chain.
And so, you know, you see things like tokenized stocks that have
just kind of announced and gotten mind share. That's obviously interesting. But the bridge
between, you know, I guess, traditional assets and crypto native assets is Bitcoin. It is Bitcoin.
Right. So I think it's time for Bitcoin and Bitcoin holders to start to utilize that weight within DeFi.
And I'm very excited that Echo is kind of leading the frontier on that.
Also, you know, I would love to hear from, and maybe you guys asked this question already earlier, forgive me.
But, you know, what makes doing this on Aptos a little different right because I always have this
this feeling right that that's like Aptos is the most is the fastest most secure most reliable
blockchain it can do anything right it doesn't matter if it's a stock if it's Bitcoin if it's
something else right if it has to get from point A to point B in an efficient and secure manner.
It's the best, right? So I'm just curious, like kind of from John's side,
like how did he think about, you know,
BTC Phi on this super new kind of fast chain?
Yeah, I think there were three main reasons
why we decided to build a laptop.
The first reason is, of course,
I think like what I mentioned previously,
I think having almost zero to little gas fee
on BTC assets is such a game changer, right?
And Aptos is one of the very few L1s
that can truly provide that.
Second itself is security.
I think as far as we know, bringing
BTC on-chain is always a challenge for users because the way they perceive and see BTC assets
itself is kind of a safe haven, right? So they wouldn't want to bring their BTC on-chain and
have any Spark contract risk. I think Aptos has proven over time,
during these three years,
on how much emphasis and how strong the team is on security.
So I think that was also a no-brainer
in terms of choosing where we were going to deploy Echo on.
And the last reason was really, I think back then,
even before being a builder,
I had the pleasure of visiting the Aptos Foundation
and Labs team in Palo Alto.
I think that was like early of 2024.
And I must say that that was really what impressed me the most.
I think it's not really just about,
you know, how capable
or how strong the team is,
but it's really the passion
that I feel from each and everyone
in the team, right?
And I think I've never worked with an ecosystem
whereby the team members right? I think I've never worked with an ecosystem whereby the team members
have such strong conviction within the ecosystem itself. And I think by building side by side with
people with strong conviction, that really makes things very easy. And it also helps us to as a builder on the space have strong faith and trust that
eventually the team will deliver for us so i think those are the main three reasons why
we really got attracted to build a ptc project like echo on Actos itself. Amazing you know I want to say John you know I know you had
to travel to Palo Alto but good news we're opening an office in Singapore so you could sit right
beside Jay and the other folks in the market and and really go back to back and then we'll fly to you you know yeah yeah that's amazing yeah but singapore can be a
little boring so sometimes it's good to get out of the small little island as well
oh no sing singapore there's no way singapore can be boring for me man i have two little kids
and work like i i don't see the sun so i will have fun in singapore yeah we will make the office
fun right so uh yeah come down we will like vibe code together and imbued um the next next phase of
echo together yeah and you know the beauty of that is uh i think an amazing way we will continue to work together as two brands and two companies is through the community, right?
The community kind of taking a front row seat to start to drive awareness, but also locally in Singapore, it's a finance hub and also crypto native first, right?
and also crypto native first,
right in in terms of innovation.
And so being there,
having echo as kind of the frontier and
lighthouse, you know, aptos project will
start to inspire other builders there,
right? And so I think that's what's
going to be very exciting.
Yeah, I think what I say really I can't agree any further, right? Because I think what Ash say, really, I can't agree any further,
because I think the whole
ecosystem to truly grow,
you can't just have a couple of builders.
You need a diverse and
builders that are dedicated to the cost.
So in a way,
as a way to inspire other builders to come into
the Aptos ecosystem so that we can continue to build on
this success together and continue to
grow the Aptos ecosystem towards the right direction.
Okay, awesome.
We'd love to open up the floor to questions.
So if you want to ask a question,
do request to speak.
We have brought on Baba and Tep.
So Baba first.
Feel free to go ahead with your question.
Baba. Hey, GM, GM, everybody uh shout out to you jp
and the work with him i think you guys have been amazing since you came on uh lovely like
conversation with j ash and jp you guys have been awesome for this but yeah um ash kind of
eat a bit of my points but let me just kick it off by talking about like after
security because you guys are mad on that as well i think it's really cool that um we are beginning
to see more and more people show trust in like the aptos blockchain i think that speaks a lot
to what aptos can do and maybe gives confidence to more people as well like if coming on aptos
there's a 100k bounty currently on and i think that even
shows more confidence like okay real money somewhere if you can exploit this please do it
and yeah i'm waiting to see when that closes but yeah really cool stuff um now talking about cge
um ash spoke about how a tge is a good awareness point for, like, I think any project, any protocol at all.
And more and more recently, we've seen projects kind of like milk to TGE.
Like, you see people talk about roads to TGE months to TGE, like six months before.
Personally, I like surprises.
I think some of the best things in Web3 have come from surprises.
So I'm not complaining at all.
But why did you guys like i started
hearing about equity g you've been in the elephant but i started hearing about equity g maybe just
three days ago or four days ago um so to me it's like a surprise so why did you guys make it like
a surprise effect yeah i think that's an excellent question. One thing why we kind of announced our TGE pretty late is also due to the fact that,
you know, like what you mentioned earlier, that a lot of projects were milking a lot
of users, right?
By saying that, hey, you know, it's six months to TGE, five months to TGE.
I think that is not necessarily the type of users that we want to bring to start using
our product. I think we don't believe in needing people on or getting users that just simply
want to farm our points or a job in hopes of earning some kind of financial reward. What we want is real users. So for that main decision, we purposely hide our
actual ad job or rather we didn't really drop so much in on our ad job so that we can actually
reward the real users that have been using Echo for our product offering and not because of
been using Echo for our product offering and not because of like financial gains like AirDrop itself.
Yo, awesome JP. I love that. So now final question. It's one thing for your product to be ready. I
mean, being product market fit, LFM helps with that. And I know you guys have been working to
make sure Echo is at the best point for a TGE. But it's another thing to pick the time of the TGE.
What made you feel like this is the right time for the Echo TGE?
Yeah, I think when it comes to timing,
I would say if you speak with many projects,
we will never know when's the right time, right?
But I think the way we decided that, you know, okay, you know,
maybe this month is kind of the time
for us to do our TGA
is we believe that our users
have been, you know, working
and have been participating
very actively in all of the different Echo products.
And we think that it's only a right time for us
to start to reward our users.
On top of that, I think there have been a lot of good news
within the Aptos ecosystem.
And for us, being a strong project on Aptos itself,
we want to continue to build on that momentum
to help with the ecosystem
and help with its entire narrative.
So I think it's really not
a matter of timing the TGE,
but we just felt that
it's only the right time.
There's never a right time
to reward our users,
but there's also
never a wrong time as well.
Well said, JP JP thank you so much
amazing thanks for the question Baba uh so I'll tap as a speaker as well right tap do you want to take the next question yeah hey John congrats on you know going live with your token tomorrow.
I just want to get your thoughts on how do you see the whole BTC5 evolving in the coming months or weeks, right?
How do you see BTC5 changing?
Yeah, that's an excellent question. I think for the past one year a lot
of the narrative from BTC5 has been on staking as well as bringing the BTC on chain in a very
secure manner right. But I think no one has really found the key as to how we can actually utilize this BTC on-chain. Right now, I think the way a lot of BTC assets
that are being held on-chain
are simply used as collateral to borrow against other assets
and not necessarily actually being deployed, right?
So I think the way we, from ECHO perspective,
the way we see on how we can kind of unlock BTC5
in the upcoming month or even to the upcoming year
is to introduce a lot of products,
like structured products, right?
Whereby, you know, you can do like a BTC call option,
put option, or you can even like follow like an EMSTR strategy
whereby users can actually have a leveraged position on BTC
without any liquidation risk.
I think these are some of the very, it's kind of a lot of it
stems from Trap5 strategy.
But I think it's also products that we
need to bring it on-chain so that users can truly have a real yield
case for BTC itself.
And at the same time, we also believe that with the increasing amount of assets being
held by institutions, FIs, and public listed companies, there will also be a hunger for them to actually look for additional
yield on their BTC.
And that's where I think a lot of BTC-related RWA products, whereby these traditional FI
guys, listed company guys are more familiar with, that can also start to participate within
the on-chain ecosystem itself.
Yeah, amazing.
Thanks for the question, Tab.
Personally, a big believer of btc5 right there's so much
liquidity so much btc liquidity out there um and so little being utilized on chain to be
used as collateral to be used as liquidity pools right so what that means is that a big opportunity
where the market is extremely big right for any player that wants to capture it to aggressively capture.
So love to see that.
I mean, you guys at Echo
have been deep in the trenches
in capturing VTC5 mindshare
across multiple chains
and especially on Aptos.
Cool.
Don't think we have any more questions,
but JB, we would love to have you
end off this this basis
any final words from your side especially moving towards the the day of your tg
yeah i think i just want to take this time to you know thank everyone that has been a part of Echo journey on Aptos. So, you know, big shout out to the Aptos team for always being
the pillar of support for the team. Big shout out to my Echo team for, you know, being the
superstars in their own right, you know, for marketing to product, to operations. I think everybody has put in their hard work and effort
to get echo to where they are.
For me, I'm just a messenger.
Most of you all hear from me, speak with me,
but I would say that most of the hard work happens on the back
with the rest of my team.
And lastly, of course, to the entire AppDOS community,
thanks for supporting us since day one.
This TGE is not for us, but it's for you guys.
We will have never been able to get to where we are
if not for our users, right?
So at the end of the day, pretty excited to see
what comes next after our TGE
and how we can continue
to build products
that users want.
So thank you everyone
for all your feedback
and all your support
throughout this journey.
And yeah, hopefully
we can look forward
to a successful
and smooth TGE tomorrow.
Let's go.
Let's fucking move.
Awesome.
Right, thanks everyone for tuning in.
No matter where you are, GM or GN,
make sure you're following Echo, Aptos,
have your notifications on.
And it's a big day tomorrow.
All right.
Appreciate everyone for having us.
Look forward to the future
spaces.
Awesome. Bye-bye.
Let's go. Ciao, ciao. Thank you.
