Today, Bitcoin liquidity aggregation and yield infrastructure layer Echo Protocol announced it integrated Chainlink Price Feeds and Proof of Reserve to power secure and transparent DeFi on Bitcoin (BTCFi) by cryptographically verifying aBTC, a cross-chain liquid Bitcoin token, is backed 1:1 by BTC.
Designed to unlock the world’s oldest and largest cryptocurrency’s trillion-dollar market cap, BTCFi’s growth is fueled by the same Chainlink services that provide high-quality data, computation, and interoperability to secure, reliable DeFi applications.
Echo Protocol enables BTCFi on Aptos, a community-driven layer-1 blockchain platform with over $1B in TVL. Earlier this year, Aptos adopted the Chainlink standard as a member of Chainlink Scale.
Chainlink Price Feeds have facilitated over $25 trillion in transaction value, even during volatile market conditions and adverse events such as flash loan attacks. To ensure the security and reliability of markets for BTC, as well as Aptos’ native token, APT, and Echo’s APT liquid staking token, eAPT, Echo is leveraging Price Feeds for access to real-time, onchain price data that reflects fair market conditions and supports a robust BTCFi ecosystem.
Chainlink Proof of Reserve uses the same battle-tested Chainlink oracles to provide real-time updates for reserves backing digital assets with superior transparency and reliability compared to annual statutory audits, interim audits, and monthly proof of reserves. Proof of Reserve boosts confidence in BTC-backed assets like aBTC by verifying they remain fully collateralized.
“Chainlink has established itself as the standard for secure, verifiable data, making it an ideal solution for BTC liquidity and aggregation infrastructures like Echo Protocol,” said Echo co-founder Jonathan Phay in an official announcement.
“Adopting Chainlink Proof of Reserve and Price Feeds will unlock a new level of security and reliability for us and our users, enabling us to scale and accelerate the adoption of our protocol.”
To learn more about Echo Protocol, visit their website, X, Telegram, and Discord.