DeFi

Ellipsis

Million

Phoenix

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ellipsis-labs-secures-20-million-for-defi-exchange-development" rel="noopener noreferrer nofollow">Ellipsis Labs Secures $20 Million for DeFi Exchange Development</a><br></p>
<p style="text-align: justify">Ellipsis Labs, a company specializing in cryptocurrency exchange development, recently completed a significant $20 million Series A funding round. Leading the investment was Paradigm, a prominent venture firm. This latest financial injection is aimed at furthering the development of DeFi technology, specifically the rollup process. Justin Drake from the <a href="https://en.bitcoinhaber.net/ethereum-struggles-for-bullish-momentum-as-market-awaits-direction" rel="noopener noreferrer nofollow">Ethereum</a> Foundation, Mike Neuder from EigenLayer, Sreeram Kannan, Anatoly Yakovenko from <a href="https://en.bitcoinhaber.net/solanas-rollercoaster-surges-corrections-and-future-predictions" rel="noopener noreferrer nofollow">Solana</a> Labs, and Uri Klarman from bloXroute were among the supporters of this funding drive, with Electric Capital also contributing.</p>
<h2 id="advancing-defi-with-phoenix-on-solana">Advancing DeFi with Phoenix on Solana</h2>
<p style="text-align: justify">The company is at the forefront of decentralized <a href="https://en.bitcoinhaber.net/okx-ventures-backs-delphinus-labs-innovative-web3-computing-project" rel="noopener noreferrer nofollow">finance</a> with its project, Phoenix, a decentralized exchange operating within the Solana ecosystem and featuring an on-chain order book. Phoenix aims to merge the efficiency of traditional order books with the openness and accessibility inherent to DeFi platforms. Ellipsis Labs had previously gathered $3.3 million in a seed round and currently boasts a total locked value of $14.31 million, with a trading volume reaching $238.79 million over the past day, making it a leading DEX on Solana in terms of TVL.</p>
<h2 id="technical-advancements-in-defi-transactions">Technical Advancements in DeFi Transactions</h2>
<p style="text-align: justify">Solana’s blockchain framework facilitates crank asynchronous trade agreements, which handle numerous concurrent transactions without the sequential dependency of traditional systems. This approach reduces latency and enhances transactional efficiency. Nevertheless, it also introduces greater complexity and challenges in terms of predictability within the ecosystem.</p>
<h2 id="insights-from-ellipsis-labs">Insights from Ellipsis Labs</h2>
<p style="text-align: justify">The developers at Phoenix are committed to maintaining all market event data on the blockchain, enabling full transparency of actions including limit orders and trade fills. A recent statement from the team emphasized the importance of bringing traditional financial liquidity and efficiency to the decentralized sphere, citing Phoenix as a crucial step towards an improved financial system.</p>
<h2 id="implications-for-the-reader">Implications for the Reader</h2>
<ul>
 <li>Ellipsis Labs’ recent funding indicates strong investor confidence in the growth of DeFi systems.</li>
 <li>The development of Phoenix on Solana suggests a trend towards combining the benefits of DeFi with the efficiency of traditional finance.</li>
 <li>The utilization of crank asynchronous trade agreements could signal a shift in blockchain transaction methodologies.</li>
</ul>
<p style="text-align: justify">Ellipsis Labs’ successful funding round marks a noteworthy advancement in the DeFi space, promising enhancements in efficiency and accessibility for decentralized exchange technologies.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ellipsis-labs-secures-20-million-for-defi-exchange-development" rel="noopener noreferrer nofollow">Ellipsis Labs Secures $20 Million for DeFi Exchange Development</a></h5>

Ellipsis Labs Secures $20 Million for DeFi Exchange Development

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