Ellipsis Labs raises $20 million from Haun Ventures to accelerate the launch of Atlas, a layer-2 blockchain focused on verifiable finance.01:50Ellipsis Labs, the team behind the Solana-based decentralized exchange Phoenix, has raised $20 million from Haun Ventures to launch Atlas, a new blockchain purpose-built for what is being termed,"verifiable finance."
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. Phoenix, their order book-style exchange on Solana, has already facilitated overEllipsis says it plans to apply its learnings from building Phoenix to Atlas, a new network that will reportedly feature ultra-low fees and will be built for high transaction throughput.