Echo Protocol Begins Wind-Down, Halting New Deposits Across Services

Echo Protocol is winding down its operations, ending new deposits and borrowing across its lending product while giving users until Nov. 20 to withdraw assets, repay loans and unstake. The Bitcoin (BTC) infrastructure protocol has also stopped interest accrual on its lending service. Its Strategy product no longer accepts deposits, and its liquid staking service is no longer taking new stakes. Existing users can still withdraw assets, repay outstanding loans and unstake during the wind-down period, and the protocol will continue necessary asset liquidations. Loans still unpaid after the Nov. 20 cutoff will have their collateral liquidated, with the proceeds directed to lenders. Positions remaining after the deadline will move into liquidation or settlement, but the timing for those steps has not been set.

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