The general lending market Echelon Market has completed a $3.5 million seed round financing, led by Amber Group.

ChainCatcher news, the general lending market Echelon Market has completed a $3.5 million seed round financing, led by Amber Group, with participation from Laser Digital, Saison Capital, 280 Capital, Cypher Capital, and others.

Echelon's core currency market enables asset lending through non-custodial pools. All positions are over-collateralized to protect lenders while providing borrowers with maximum capital efficiency and cost-effective rates.

According to RootData, Echelon is a decentralized financial market written in the Move programming language. Its users can indirectly borrow and lend assets through non-custodial pools to earn interest or increase purchasing power through leverage.