According to Foresight News, angel investment platform Echo, created by crypto trader Cobie (Ser Shokunin), has launched its beta version and completed its first transaction. In the transaction, Echo users invested $300,000 in synthetic USD protocol Ethena with terms similar to those of large venture capital firms. No additional management fees were charged in the first transaction, but Echo may explore different fee structures in the future.
Echo users can create invite-only groups and restrict trading access to certain members. The offering was open to approximately 580 investors in the Shokunin community, and there are already twenty groups on the platform.