Ellipsis Labs Secures $3.3M in Seed Funding Led by Electric Capital for DeFi Protocol Development

Ellipsis Labs Secures $3.3M in Seed Funding Led by Electric Capital for DeFi Protocol Development

Prominent angel investors Anatoly Yakovenko, CEO of Solana Labs, Marc Boiron, CEO of Polygon Labs, and Keone Hon, CEO of Monad Labs, have also lent their support to this funding round.

This influx of capital empowers Ellipsis Labs to expedite the advancement of pioneering DeFi protocols, such as the remarkable Phoenix.

Phoenix stands as the inaugural atomically settled limit orderbook operating on the Solana blockchain. Notably, it has facilitated more than $250 million in spot volume, all achieved without the reliance on external incentives.

In addition to its accomplishments, Ellipsis Labs has made valuable contributions to the Solana ecosystem through its creation of Solana Verified Builds, a tool designed to validate the source code of on-chain Solana programs.

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About Ellipsis Labs:

Ellipsis Labs specializes in constructing sustainable and efficient DeFi protocols utilizing high-throughput decentralized infrastructure. At the forefront of Ellipsis Labs’ offerings is Phoenix, a fully on-chain, decentralized limit orderbook functioning within the Solana network.