If I understand correctly you can issue your ecash tokens in any denomination. Bitcoin or gold or energy (hash) can be the deposited asset, but the tokens or liabilities can be anything.

nostr:npub16vzjeglr653mrmyqvu0trwaq29az753wr9th3hyrm5p63kz2zu8qzumhgd is using Ehash as tokens that represent hash rate for mining pools.

Mutiny decided to issue their tokens in bitcoin as Esats so that they could keep the 1-1 peg to sats that were deposited instead of trying to convert sats to ecash dollars.