PANews reported on November 29 that the lending protocol Echelon announced that it will launch the Initia-based application chain Echelon Chain, which is a debt-driven Move application chain built on Initia's Interwoven Stack and uses Celestia at the bottom layer.
The 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 functions, it will inherit the existing core functions such as multi-collateral lending, E-Mode high-leverage lending, and isolated lending.
Echelon plans to release a public testnet this year and will launch its mainnet simultaneously with the launch of the Initia mainnet. The application chain will deeply integrate Initia's VIP program and promote ecological development through network effects within the interconnected stack.
