Echelon announced the launch of the application chain Echelon Chain based on Initia

ChainCatcher news, the lending protocol Echelon announced the launch of the application chain Echelon Chain based on Initia, which is a debt-driven Move application chain built on top of Initia's Interwoven Stack, utilizing Celestia as the underlying layer.

This application chain will support LayerZero and IBC cross-chain interoperability, natively support USDC and oracle systems, and provide complete infrastructure such as wallets and browsers. In terms of functionality, it will inherit existing core features such as multi-collateral lending, E-Mode high-leverage lending, and isolated lending pairs.

Echelon plans to release a public testnet within the year and will launch the mainnet simultaneously with the Initia mainnet. This application chain will deeply integrate with Initia's VIP program, promoting ecological development through network effects within the interwoven stack.