Echo, a regulated centralized cryptocurrency exchange focused on community-driven investment, has announced the launch of a new tool called Sonar.
The product allows project founders to independently host public token sales without needing Echo’s approval or going through its existing group-based fundraising structure.
Details about Sonar by Echo
According to the announcement, Sonar is positioned as a response to key feedback Echo received from founders during its first year of operation, particularly around the limitations of private sales and the platform’s reliance on lead investors for listing opportunities.
Previously, Echo specialized in facilitating private sales through a model that relied on group leads, established investors who shared deals with their followers on the platform.
While this system helped smaller investors access early-stage crypto deals, it created friction for founders who wanted to promote their token sales more widely or lacked relationships with group leads.
Sonar was developed to give founders complete control over the structure, marketing, and accessibility of their fundraising process, enabling them to sell tokens directly to their communities without external constraints.
The software requires no listing approval and can be used freely, making the fundraising process more flexible and immediate.
Customizable Tools, Broad Blockchain Support, and Compliance Options
Sonar is built to support a range of fundraising formats, including auctions, points systems, and token drops. It is blockchain-agnostic, offering compatibility with ecosystems such as Solana, Base, Hyperliquid, and Cardano.
In addition, it integrates with Echo’s existing eID attestation system, allowing existing users to verify eligibility and participate in sales with minimal friction. For projects requiring additional legal safeguards, Sonar provides compliance features that can attest to a user’s investment status without revealing their identity.
Unlike traditional launchpads, Sonar does not promote upcoming sales or maintain a central listing hub. There’s no homepage showcasing future projects and no newsletter updates about token drops.
Instead, Echo encourages a decentralized discovery process, where investors are expected to find sales on their own. According to Echo, this approach aims to reward diligent investors and return some of the discovery dynamics to early-stage crypto investing.
