The grand cause of the Bitcoin ecosystem has been doused with a truckload of cold water by Babylon, pouring cold water on all contributors' enthusiasm. Is there still meat in the BTC staking ecosystem supported by the Aptos and Movement foundations?
What to do with the Bitcoin in hand? Today I'm writing a tutorial to see if the airdrop is worth looking forward to.
🪃 Project Introduction
@EchoProtocol_ is a Bitcoin liquidity staking project deployed on the Move language chain, with over 3016 Bitcoins staked, and today's deposit scale exceeds 267 million USD, considered a niche rising star in the Bitcoin ecosystem.
Supports deposits through Aptos, Morph, Movement, and Hemi chains, but there are no penalties for withdrawals, unlike Babylon's shameless approach.
🚀 Financing Situation
Echo was led by Spartan in the Pre-seed round, with the amount undisclosed. ABCDE Capital, market maker Presto, and Web3Port participated, and among the angel investors are the head of Polygon zkEVM technology, founder of Selini Capital, and co-founder of BitMEX.
It has also received funding support from the Aptos and Movement foundations.
🚴 Core Team
CEO, Jonathan Phay, currently a partner at ABCDE Venture Capital, graduated from Nanyang Technological University in Singapore.
🪂 Interaction Process
I saw the official statement reflecting on Aptos's ami airdrop only benefiting large holders, and the failure case of Babylon where everyone retaliated against the retail investors. The distribution will mainly focus on retail investors, so I stored a bit. I feel that low protection accounts may be more worthwhile. Below, I will write the interaction process.
Due to too many chain switches involved, I recommend directly using the @okxweb3 wallet, and then first exchange WBTC on the ETH mainnet, which is the simplest. If you want to maximize benefits and earn B2 points, please refer to the tutorial path I wrote earlier.
https://x.com/Airdrop_Guard/status/1848318445592703096
1⃣ Exchange WBTC
Connect the wallet to the Ethereum mainnet, exchange ETH for the WBTC to be deposited, and be sure to leave a little ETH for Gas.
https://jumper.exchange/zh?fromChain=1&fromToken=0x0000000000000000000000000000000000000000&toChain=1&toToken=0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599
Here we used the Jumper cross-chain bridge, which has not yet issued a token, allowing for multiple benefits.
2⃣ Deposit into the Aptos Treasury
Because this place offers 10 times the points, I chose here.
https://vault.echo-protocol.xyz?invite_code=UHTKG
3⃣ View Campaign Points
I have stored 136 U of Bitcoin in this low protection account, ranking 7995. It feels okay; there aren't too many people, so it’s not too competitive.
https://vault.echo-protocol.xyz/campaigns
Additionally, you can use uBTC to deposit into other protocols in the Strategy section for multiple benefits.
https://vault.echo-protocol.xyz/strategy
✅ Summary
If I store echo, I'll just treat it as a forced financial management of Bitcoin. The Aptos public chain is undergoing a major overhaul this year, hoping to bring about a different innovation.
Everyone should also research the Echo project, discuss together, and see if it's worth deploying low protection.
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