DeFi: Ellipsis raises $3.3M from the CEOs of Solana and Polygon

Ellipsis Labsa start-up that develops DeFi protocols one of which DEX on Solana baptized Phoenixhas just collected 3.3 million dollars fromElectric Capital and executives of Solana and Polygon.

Ellipsis Labs focuses on building decentralized finance protocols, including Solana. The company already offers a cryptocurrency exchange protocol based on this blockchain. Called Phoenixthe DEX is presented as the “first crankless order book on Solana”.

Thursday, Ellipsis Labs has announced a financing round of 3.3 million led by pioneering crypto VC Electric Capital. The fundraising also attracted Robot Ventures and Anagram, as well as several business angels, including Anatoly Yakovenkothe head of Solana Labs, and Marc Boiron, the new CEO of the entity behind the Polygon network.

The capital raised will enable the startup to accelerate the development of its DeFi projectsincluding its DEX on Solana, which has recorded a trading volume of $250 million since its launch, according to the announcement.

Note that Ellipsis Labs also offers a tool called Verified Builds which lets you verify the source code of Solana applications.

Ellipsis Labs is proud to announce a $3.3M seed round, led by @ElectricCapital.

The seed round saw participation from notable investors including @robotventures, @anagramxyz, @aeyakovenko, @keoneHDand others. pic.twitter.com/a5xb8OG9Xl

– Ellipsis Labs (@ellipsis_labs) August 17, 2023

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