CandleFocus Ellipsis Labs Raises $20M from Haun Ventures to Launch 'Verifiable Finance Blockchain' Atlas
2024-10-31
Author: Content Editor
Ellipsis Labs, the team behind the Solana-based decentralized exchange Phoenix, has received a $20 million investment from Haun Ventures to accelerate the launch of their new blockchain called Atlas. The purpose of Atlas is to create a blockchain focused on "verifiable finance" without sacrificing transparency, auditability, or censorship resistance. Ellipsis aims to address inefficiencies in decentralized finance (DeFi) such as inefficient price discovery and high transaction costs. Their order book-style exchange, Phoenix, has facilitated over $50 billion in trades since its launch in 2023. Atlas will initially be launched as a layer-2 solution on Ethereum and will be designed to connect with both Ethereum and Solana's liquidity pools. The funding round led by Haun Ventures, along with additional investors, brings the total raised to $21 million.
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