Echo Protocol is shutting down. Of the $878 million in TVL at its peak, $10,675,477 remains
On October 19, the protocol on Aptos announced it was winding down: deposits, new loans, and staking have already been halted
If you have money there, there are two dates, not one:
— November 14 — the last day to repay your loan; after that, your collateral will be liquidated
— November 19, 23:59 UTC — withdraw, repay, and unstake everything else
Many posts mention only the second date, but that’s already too late to help borrowers
aBTC can still be swapped via the Aptos-B2 bridge after the shutdown, so aBTC holders have less urgency
A tip from me: fake “refund” links pop up after news like this. Don’t sign anything from links sent by strangers
$APT Down 8.2% over the week, underperforming BTC by 5.9 percentage points. I can’t say whether Echo contributed to that. The main figure I’m watching now is how much TVL makes it to November 14
#EchoProtocol #Aptos