Ellipsis Labs, the team behind the Solana-based decentralized exchange Phoenix, has raised $21 million from Haun Ventures to launch Atlas, a new blockchain purpose-built for what is being termed, "verifiable finance." Co-founders Eugene Chen and Jarry Xiao, who have backgrounds in high-frequency trading, founded Ellipsis Labs in 2022. Ellipses aims to address key problems in DeFi, like inefficient price discovery and high transaction costs, which make it difficult for decentralized finance platforms to compete with traditional financial systems. Atlas is designed to plug into both Ethereum and Solana’s liquidity pools.
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