eBTC

eBTC is a token within the Echo protocol, classified under real-world assets and crypto-backed tokens, designed to represent a unified form of Bitcoin liquidity across different BTC standards. Echo addresses the fragmentation problem faced by DeFi users who hold Bitcoin in various incompatible forms — native BTC, wrapped BTC, or liquid staking tokens — and want to deploy that value into decentralized finance applications without navigating multiple separate protocols. The intended users are BTC holders who want exposure to DeFi yield without abandoning their Bitcoin position.

Users deposit Bitcoin in any supported form, including wrapped variants such as wBTC and fBTC or liquid staking tokens such as PumpBTC and LBTC, and receive eBTC as a unified representation of that deposit. Echo connects these deposits to several Bitcoin Layer 2 networks — including Babylon, BSquared, and Bitlayer — and uses a Proof-of-Reserve mechanism to verify that underlying BTC assets remain accounted for. The token exists within ecosystems that include Starknet and Monad, though no consensus algorithm or block time is recorded for eBTC itself, as it is a protocol token rather than a base-layer asset.

The data provided does not include a fee stream, revenue figures, or any record of fees collected by the Echo protocol or distributed to eBTC holders, so no fee-based measures can be reported for this asset. The circulating supply stands at approximately 554.49 tokens at the time of this snapshot, with a supply issued percentage of 99.99% on a point-in-time basis, meaning nearly all tokens that will ever exist are already in circulation given that no maximum supply is recorded. The fully diluted valuation is effectively equal to the market cap, with an fdv-to-mcap ratio of 1.000105 on a point-in-time basis, reflecting the minimal dilution overhang of 0.010469% remaining.