Echo DeFi
Cutting-edge DeFi solution with a unique approach to decentralization and token distribution
- Blockchain
- Web
- Mobile
- Cryptocurrency
- Smart Contracts
- dApps
- DeFi
- Home
- Success stories
- Blockchain
- Web
- Mobile
- Cryptocurrency
- Smart Contracts
- dApps
- DeFi
Innovative and fully decentralized platform providing top liquidity alongside fair token distribution via two stages right from the network launch
Team
- Blockchain developer4
- Solidity developer2
- Full-stack developer2
- DevSecOps
- Business analyst2
- Delivery manager
- UX/UI designer2
- QA engineer3
Echo DeFi’s goals
- Create a novel initial DeFi distribution mechanism with the maximum level of decentralization
- Manifest the potential of the entire Echo ecosystem as well as the Ethereum sidechain
- Provide ample liquidity opportunities via Uniswap and SushiSwap right from the first day of the platform launch
- Draw more users and developers to the Echo community via various interaction mechanisms, including DeFi airdrop, liquidity mining, and staking with native assets
Work done
- Creation of the Echo generalized smart contract protocol and ecosystem with a unified development environment
- Development of ECHO — the protocol’s native token
- Ethereum and Bitcoin sidechains allowing for the network interoperability
- Inter-blockchain communication protocol allowing users to smoothly transfer their ETH, BTC, and ERC-20 tokens to the Echo network
- Elaborate initial DeFi distribution strategy providing liquidity to individuals who lock their crypto assets in a smart contract
- Creation of the mobile and desktop ECHO wallets that allow users to transfer their funds between the Ethereum/Bitcoin and Echo blockchains
- Multiple developer tools, including libraries, code examples, and open-source wallets
- Blockchain explorer presenting the platform’s information to users in a convenient format
- Browser extension (Bridge) allowing users to sign transactions within the Echo network
About the solution
Having proved to be an experienced player in the blockchain domain with 60+ successfully delivered blockchain projects, PixelPlex has decided to go big and develop its own trailblazing DeFi solution — Echo DeFi — a nonpareil platform for the Echo project that aims to provide individuals across the globe with the freedom to self-organize, interact, and transact with no hitches.
Echo DeFi is a groundbreaking solution in terms of its approach to decentralization and token distribution.
The PixelPlex team has given due consideration to the frequent pain points that protocols of the common type normally face, and has produced a viable and advanced solution that is able to:
- Ensure a complete decentralization of the protocol
- Guarantee fair and optimized token distribution right from the launch of the network
- Provide additional liquidity opportunities to those users who participate in the initial ECHO token distribution and allow them to become part of the protocol’s governance
What makes Echo DeFi special?
Proof of Weighted Randomness (PoWR) consensus
Thanks to the PoWR consensus, Echo creates an entirely new layer of network communication enabling high-speed asset transfers. It runs smart contracts to interact with existing cryptocurrencies like Bitcoin and Ethereum.
Advanced Echo protocol
Echo DeFi has been developed on the advanced Echo protocol that creates a totally new level of communication and enables efficient decentralized applications for Bitcoin and Ethereum with advanced functionality, flexibility, and usability.
Learn about Echo ProtocolOpen and democratic governance
The protocol provides open and democratic governance — hence all members have the right to propose upgrades and improvements to the platform and vote on their approval.
Built-in contract support
Echo has built-in contract support that makes it possible to monitor smart contracts in external networks
Sophisticated sidechain mechanism
Thanks to its sophisticated decentralized sidechain mechanism, Echo enables its users to effortlessly deposit and withdraw assets and tokens from the Echo protocol for further scaling and staking
ECHO token
As well as this, the platform uses its own DeFi ECHO token to create an ecosystem of valued services such as stablecoins, derivatives, collateral, asset tokenization, and decentralized identities.
Got an idea? Let’s work together
Sidechain mechanism
Echo supports BTC, ETH, and ERC-20 standard Ethereum assets and allows them to be smoothly transferred on and off Echo through the exquisite Bitcoin and Ethereum sidechain mechanisms that lie at the core of the protocol.
The two sidechains make it possible for Echo users to exchange their BTC, ETH, or ERC-20 tokens with the corresponding eBTC and eETH assets or tokens on the Echo network.
Special smart contracts are deployed into the Bitcoin and Ethereum networks by members of the committee which controls the deposited funds and tokens and offers an interface to manage them.
What the process looks like
Initial Distribution
- During the first two months, the network protocol will distribute 2% of the ECHO total supply to those users who have locked their ETH in the Ethereum smart contract.
- At this stage, users can:
Participate in the initial token distribution
Engage in the token distribution and receive rewards in a wrapped ERC-20 token ECHO (wECHO) for every distribution epoch which lasts 8 hours. The amount of wECHO that the user can gain is proportional to their percentage of the total amount of ETH locked during a distribution epoch.
Benefit from the ecosystem of services
Use the Echo protocol to transfer wECHO into ECHO and benefit from the DeFi ecosystem of services, run a node, and get a chance to participate in voting and Echo’s governance
Liquidity Pool Farm
- The second stage — LP Farm — will last for 360 days, during which 30% of the ECHO total supply will be distributed.
Provide liquidity
Those users who provide liquidity to the protocol via Uniswap will be rewarded with UNI-V2 tokens. They can also lock those tokens to receive rewards in wECHO for every distribution epoch which will last 24 hours.
Afterwards, it’ll be possible to trade wECHO for ECHO and multiply wealth to be among the leaders of the decentralized economy.
Take advantage of multiple opportunities
From the outset, those users who have received wECHO during the two stages can transfer these tokens to the Echo protocol via the sidechain mechanism.
In this way, users will be able to take advantage of several opportunities, namely: acquire the corresponding amount of the ECHO core asset, run their own node, embark on staking, participate in the consensus, and get rewards.
Enjoy maximum security
Also noteworthy is that users’ funds are absolutely safe. They are kept securely on the Ethereum smart contract. No one, even the members of the Echo development team, can access them.
In addition, if or when users decide to get their ETH back, they can easily withdraw the full amount and suspend their participation in the distribution procedure.
Project features
- Novel mechanism of the network launch through the initial DeFi distribution
- Solidity and C++ smart contract support
- Complete web3 compatibility
- Rewards for providing liquidity to the platform
- Top security guaranteed by EchoRand
- Increased transparency of all processes executed on the platform
- Flexibility to take part in the chosen distribution procedures
- No appointed committee of validators
- Modular interoperability
- Upgraded asset performance
- Sophisticated sidechain mechanism
- Supersonic consensus
- Our team is extremely happy to introduce Echo DeFi — a project created within the Echo ecosystem. To bring it to fruition, we have put together our extensive expertise in the blockchain domain and a strong desire to create a trailblazing DeFi solution.
- The most outstanding feature of Echo DeFi is manifested right at the initial DeFi distribution stage. This is the opportunity to smoothly re-deploy even the most complex Ethereum-based smart contracts without having to alter the initial code. Plus, the advanced bridge system enables high-end interoperability between those contracts. Also noteworthy is that Echo operates both as an integral and fully decentralized protocol on our side and as a layer-2 protocol functioning as an extension of other protocols.
- It makes me proud to admit that the PixelPlex team standing behind Echo DeFi has managed to deliver a fully transparent and decentralized solution that will allow users to establish full control of their assets.
Alexei Dulub
CEO & Founder of PixelPlex
Technologies used:
- Services IT R&D RESEARCH & DEVELOPMENT In this ever-evolving tech realm, don't just follow trends — set them.Capitalize on innovation, launch ground-breaking products, and forge new business models for maximum ROI. IT Consulting CONSULTING From complex enterprise tech transformation to the innovative project launch, our team supports businesses at different stages of their projects.Come along, we’ll help you get an edge and play big on the global market. Custom Software Development CUSTOM ENGINEERING Let us have your back in a project of any scale. From user-centric mobile apps to full-blown cross-platform enterprise ecosystems — we’ll bring your concept to life, exactly as you think it should look and work. Mobile App Development MOBILE APP DEVELOPMENT Entrust us with your end-to-end mobile project — from ideation and engineering to app launch and integration.With business growth in mind, we’ll help you hit the market with a slick iOS, Android, or cross-platform app. Mobile App Development iOS App Development Android App Development Cross-Platform App DevelopmentWeb Development WEB DEVELOPMENT Whether you need an app from the ground up or require a legacy system to be updated, we can jump in at any stage.From an accessibility roadmap to post-launch support, we’ll help your business stay strictly legal and competitive. Web Development Web Accessibility Audit Web Accessibility Consulting Accessible Web Development and DesignDevSecOps DevSecOps Ensure your software's integrity and efficiency from conception to compliance. UI/UX Design UI/UX DESIGN Give us the pleasure of adding our secret sauce to your app.We’ll create beautiful screens at the front while breaking the limits of what’s behind them to help your app get to beyond-plausible business achievements. QA & Software Testing QA & SOFTWARE TESTING Engage us for integrated quality assurance services, and our experts will advise on QA strategy and optimize software testing costs.We’ll balance manual testing with QA automation to ensure consistent performance for all possible use cases and devices.
- Technologies Blockchain BLOCKCHAIN DEVELOPMENT Blockchain Development Blockchain Consulting NFT Development STO Development ZK Rollup Solutions Enterprise Blockchain Development Smart Contracts Development Smart Contract Audit DApp Development Cryptocurrency Exchange DevelopmentData Science DATA SCIENCE Transforming data into growth strategies is our specialty.Leverage our expertise to unlock the potential of your big data and diverse digital assets, driving business growth. Big Data Consulting Data Analytics Business Intelligence Data VisualizationMachine Learning and AI ARTIFICIAL INTELLIGENCE Machine Learning Predictive Analytics Computer Vision Custom AI Development Chatbot DevelopmentAR & VR AUGMENTED VIRTUAL REALITY Immerse your customers into a universe of unimaginable and give them truly novel experiences with AR, VR, and Mixed Reality.We'll help define a proper business concept and find a balance between legacy workflows and next-gen customer engagement solutions. Metaverse METAVERSE We create tools, assets, and ecosystems to seamlessly merge real-life and digital worlds within your Metaverse projects.It could be a multi-layer virtual space or a unique artwork item. Either way, we’ll deliver it — ready and working. Connected Devices (IoT) INTERNET-OF-THINGS Aching to handle digital and physical asset management? We build load-resistant IoT services, both enterprise and consumer.Hit us with IoT consulting, app development, back-end engineering, or existing infrastructure revamping – we’ll nail it down.
- Industries FinTech & Banking FINTECH & BANKING As traditional finance goes digital, we are committed to building efficient ecosystems and better engagementThink of customized FinTech solutions with tamper-proof transactions and storage, progress transparency and automation — and we’ll make them see the light of day. Retail & eCommerce RETAIL & ECOMMERCE Whether you market B2B or B2C, commerce tech trends are all about value-driven purposes, global sustainability, hybrid shopping journeys, and extra-resiliency.Let your clients know that there’s more to your brand than meets the eye by creating unique customer experiences in all your stores. Supply Chain & Logistics SUPPLY CHAIN & LOGISTICS To make things easier for all vendors, we deliver apps for route and cost optimization, vehicle operational support, and better dispatch time efficiency.With focus is sustainability, resilience, transparency, and immutability, let’s get your transformation going. Healthcare HEALTHCARE Custom healthcare software solutions are aimed at helping you ensure accurate diagnosis, better patient engagement, and positive healthcare outcomes.Whether you require a patient management solution, practice management software, EMR/EHR system, or ML-enabled diagnostics – we’ve got you covered. Real Estate REAL ESTATE Keep up with digital innovation trends by accelerating enterprise transformation and scaling, leveraging data and orchestrating workflows.Whether you manage and sell commercial facilities or invest third-party capital, our integrated solutions help you make the most of it. Oil & Gas OIL & GAS With mobility and digital technologies standing to change the game and define leadership, our mission is to get you digital-first.Resolve operational and conceptual issues by introducing clear tech vision, feasible architectures, and flexible software to take business extension off limits.
- Solutions Know-Your-Transaction KYT platform ensures financial integrity, compliance, and proactive risk management. Control your operations seamlessly with real-time API integration. DocFlow Secure workflows, decentralized storage, and total document control. Streamline your processes with our business document management system. Arbitrage Bot Alternate your yield channels, maximize investment efficiency, customize trading strategies, and execute profitable low-risk transactions. CryptoAPI Connect your dApps to blockchains commission-free. No need for heavy database upload, infrastructure updates, or a dedicated engineering team. OTC Hawk Redefine wealth and portfolio management at your firm, outpacing your competitors. Make crypto/fiat trading easy and profitable for your clients.
- Success stories Blockchain Government & Enterprise Energy & Utilities Financial Services Supply Chain Healthcare Retail & eCommerce See all projects
- Company About us Team News Careers Scholarship CSR Contacts
- Blog