Echo (Sonar)
Coinbase-owned sale platform where each project sets its own format, limits and eligibility.
+Pros
- No platform token to buy or stake
- Owned by Coinbase
−Cons
- Eligibility differs from sale to sale
- Sales can require identity and wallet checks before you commit
- Product and branding may change as it is folded into Coinbase
Features
Best known forPrivate investing groups and project-run public sales
Token neededNone
How you get inPass the sale's checks, then commit funds in the sale's currency
Minimum to take partSet per sale
AllocationFormat chosen by each project
Lock-upSet per sale; can be required for US buyers
KYCSet per sale; usually required
US residentsSet per sale
UK residentsSet per sale
Track record45 sales, $219M raised since 2024 (CryptoRank, October 2026)
Rules checked3 October 2026
Echo, best known for private investing groups, was bought by Coinbase in October 2025. Sonar is its public-sale product: each project runs its own sale and chooses the format (pro rata, first come, first served or a custom format such as an auction), the limits and the countries that can take part. There is no platform token. Expect to complete identity checks before you can commit funds.