Staff Infrastructure Engineer, Ellipsis Labs

To tackle this challenge, Ellipsis Labs has developed Phoenix, a decentralized exchange built on the Solana blockchain. Phoenix distinguishes itself by offering an on-chain order book, leveraging Solana's high throughput and low transaction costs. By eliminating the need for a "crank" and providing on-chain market event data, Phoenix enhances trade settlements and transparency, addressing key pain points in DeFi trading.

With recent funding, Ellipsis Labs is well-positioned to further advance its DeFi technology stack and expand its market presence. The substantial funding signifies investor confidence in Ellipsis Labs' vision and capabilities, paving the way for continued innovation and growth.