about a week ago, Plasma – a new L1 purposely built for stablecoin payments – awarded participants in their public token sale an airdrop that was worth approximately ~$9k at the time of launch (~$14k about 2 days after, and $7.8k now due to a dip).

the amount awarded wasn’t the most surprising part, though. the most surprising was that even folks who participated in the sale with as little as $5 got a similar allocation!

not only that, those who participated in a funding round via Echo received a 330x return on their investments.

now, the presale people knew, but that of Echo? not really, and that’s why i decided to write this: to cover what Echo is and how you can get in and access similar deals.

what is Echo?

the easiest way to describe Echo is as a platform that allows regular people access to deals that only the wealthy and influential in the crypto space usually have access to.

in case you don’t know, there’s something called venture capital in crypto (it exists in TradFi too), and it’s when a group of individuals or firms use their money to fund a project/startup that’s still building/coming up, and in return for this, they get either equity in the company or tokens when they conduct their tge.

so if, for example, i wanted to build an ai that could manage your crypto funds and trade for you, i could go to these people, pitch my ideas, and then get funded by them.

once my project goes live and takes off, the VCs get my project’s token or a share of the company’s revenue.

that’s how it works.

now back to Echo, notice i said deals that only the wealthy and influential can access.

yeah, in crypto (and TradFi), you can’t really get access to these sorts of deals unless you’re wealthy or you know someone, and it isn’t exactly fair.

so, Cobie – a lot of the newer folks in crypto don’t know him (even though i joined this space late 2021/early 2022, i don’t know him too well either), but apparently, he’s a well-respected and trusted individual – decided to build Echo .

how does it work?

Echo has people who they’ve thoroughly vetted and pre-approved (they’re called lead investors) share deals that they’ve gotten access to on the platform.

once shared, other users can then go over the terms associated with the investment, and if it pleases them, they contribute their funds.

after everyone’s sent their piece, all the contributed funds are then rolled up into one and invested in the deal.

it’s important to note that the investments are managed via smart contracts. so that means the lead investors don’t hold your funds at any time (not like they could even run away with it if this were the case — remember what i said about vetted, their ID is with the Echo team), and once it’s time for payouts, your tokens come to you directly.

that said, you might be wondering: if these deals are usually gatekept, then it means that they’re pretty valuable and profitable; why would someone who’s got access to one share it with others via Echo?

i had that thought too, and here are two reasons i’ve been able to think of as to why:

1. your name might grant you access to a deal, but there’s a possibility that you don’t have the funds to participate in it at the moment. so, why not outsource to others?

   e.g., a deal comes up and the minimum amount per slot is $1m, and you only have $500k – you could put the deal on Echo so that the slot minimum is filled.

2. i suppose it helps that lead investors earn 1% of the profits of those who joined their group.

   

   1% from one individual might seem small, but take a look at the recent plasma sale where each participant made 330x of what they put in, and we’re talking about a substantial amount.

note: Echo also takes 5% of your profits.

how to get into Echo and gain access to these deals?

you can get started by signing up here; the first step is to sign up with an email.

after doing that, you’ll need to submit KYC documents and also answer some questions that verify that you’ve got investment experience (this is done by the team to keep in compliance with jurisdiction laws).

after you’ve done this, you should get access to the platform.

i say “should” because i stopped at the questions part; i don’t meet the requirements (yet) + i’m not ready to KYC, especially seeing as it isn’t something i plan on using heavily (yet).

a little word of advice before i wrap this up:

if you’re reading this, chances are you saw the plasma sale and you want to get access to similar deals.

but before you jump in, remember: venture capital in crypto isn’t without risks. even with solid research, not every sale guarantees good returns, and you should be prepared to lose money.

and that’s it on Echo, how it works, and how you can access it.

if you found this insightful, then consider subscribing to receive similar content in the future.

thank you!

p.s. if you’ve got more questions, shoot below.

about a week ago, Plasma – a new L1 purposely built for stablecoin payments – awarded participants in their public token sale an airdrop that was worth approximately ~$9k at the time of launch (~$14k about 2 days after, and $7.8k now due to a dip).

the amount awarded wasn’t the most surprising part, though. the most surprising was that even folks who participated in the sale with as little as $5 got a similar allocation!

not only that, those who participated in a funding round via Echo received a 330x return on their investments.

now, the presale people knew, but that of Echo? not really, and that’s why i decided to write this: to cover what Echo is and how you can get in and access similar deals.

what is Echo?

the easiest way to describe Echo is as a platform that allows regular people access to deals that only the wealthy and influential in the crypto space usually have access to.

in case you don’t know, there’s something called venture capital in crypto (it exists in TradFi too), and it’s when a group of individuals or firms use their money to fund a project/startup that’s still building/coming up, and in return for this, they get either equity in the company or tokens when they conduct their tge.

so if, for example, i wanted to build an ai that could manage your crypto funds and trade for you, i could go to these people, pitch my ideas, and then get funded by them.

once my project goes live and takes off, the VCs get my project’s token or a share of the company’s revenue.

that’s how it works.

now back to Echo, notice i said deals that only the wealthy and influential can access.

yeah, in crypto (and TradFi), you can’t really get access to these sorts of deals unless you’re wealthy or you know someone, and it isn’t exactly fair.

so, Cobie – a lot of the newer folks in crypto don’t know him (even though i joined this space late 2021/early 2022, i don’t know him too well either), but apparently, he’s a well-respected and trusted individual – decided to build Echo .

how does it work?

Echo has people who they’ve thoroughly vetted and pre-approved (they’re called lead investors) share deals that they’ve gotten access to on the platform.

once shared, other users can then go over the terms associated with the investment, and if it pleases them, they contribute their funds.

after everyone’s sent their piece, all the contributed funds are then rolled up into one and invested in the deal.

it’s important to note that the investments are managed via smart contracts. so that means the lead investors don’t hold your funds at any time (not like they could even run away with it if this were the case — remember what i said about vetted, their ID is with the Echo team), and once it’s time for payouts, your tokens come to you directly.

that said, you might be wondering: if these deals are usually gatekept, then it means that they’re pretty valuable and profitable; why would someone who’s got access to one share it with others via Echo?

i had that thought too, and here are two reasons i’ve been able to think of as to why:

1. your name might grant you access to a deal, but there’s a possibility that you don’t have the funds to participate in it at the moment. so, why not outsource to others?

   e.g., a deal comes up and the minimum amount per slot is $1m, and you only have $500k – you could put the deal on Echo so that the slot minimum is filled.

2. i suppose it helps that lead investors earn 1% of the profits of those who joined their group.

   

   1% from one individual might seem small, but take a look at the recent plasma sale where each participant made 330x of what they put in, and we’re talking about a substantial amount.

note: Echo also takes 5% of your profits.

how to get into Echo and gain access to these deals?

you can get started by signing up here; the first step is to sign up with an email.

after doing that, you’ll need to submit KYC documents and also answer some questions that verify that you’ve got investment experience (this is done by the team to keep in compliance with jurisdiction laws).

after you’ve done this, you should get access to the platform.

i say “should” because i stopped at the questions part; i don’t meet the requirements (yet) + i’m not ready to KYC, especially seeing as it isn’t something i plan on using heavily (yet).

a little word of advice before i wrap this up:

if you’re reading this, chances are you saw the plasma sale and you want to get access to similar deals.

but before you jump in, remember: venture capital in crypto isn’t without risks. even with solid research, not every sale guarantees good returns, and you should be prepared to lose money.

and that’s it on Echo, how it works, and how you can access it.

if you found this insightful, then consider subscribing to receive similar content in the future.

thank you!

p.s. if you’ve got more questions, shoot below.