Lending protocol Echelon has announced the release of Echelon Chain on Initia.

BlockBeats News, November 29th, according to official sources, the lending protocol Echelon has announced the release of the Move language application chain Echelon Chain on Initia based on its Interwoven Stack technology architecture, aiming to provide an efficient lending DeFi market with a modular economy.

Currently, Echelon has achieved a TVL of $1.06 billion and a total borrow asset amount of $1.32 billion.

The Interwoven Stack is Initia's signature technology stack, emphasizing modular design and interoperability. Through the Interwoven Stack, Echelon Chain will benefit from block extension linkage from LayerZero and IBC, Celestia's underlying protocol support, native stablecoin support, integrated oracles, and comprehensive user tools.