Listen to this article
Ellipsis Labs secured $21 million to expand its blockchain platform, Atlas, aimed at enabling transparent, high-performance financial transactions within DeFi. With backing from Haun Ventures and other key investors, the project builds on their successful Phoenix exchange, enhancing transaction speed and cross-chain compatibility. Atlas is positioned to bring DeFi closer to mainstream finance through scalable, low-cost, and transparent infrastructure.
Why Verifiable Finance is the Next Big Leap in DeFi
The decentralized finance (DeFi) industry is evolving rapidly, with demand growing for systems that ensure trust and transparency while preserving user autonomy. “Verifiable finance” introduces a new level of accountability and traceability to DeFi, where transactions are fully auditable without compromising user privacy. This concept aims to align DeFi with the integrity and transparency seen in traditional financial markets but without central authority or censorship. Ellipsis Labs emerges as a leader in this shift, leveraging advanced blockchain infrastructure to create applications that prioritize security, traceability, and performance.
As DeFi seeks to meet mainstream adoption standards, solutions like verifiable finance are necessary to address issues of trust and compliance. By focusing on this area, Ellipsis Labs positions itself to support a new generation of financial products that offer decentralized access with high levels of transparency, positioning DeFi as a legitimate alternative to established financial systems.
The Road to $21M: Ellipsis Labs’ Journey and Vision
Ellipsis Labs recently secured $21 million in funding, led by Haun Ventures and backed by several prominent investors, including Electric Capital and Paradigm. Founded in 2022 by Eugene Chen and Jarry Xiao, Ellipsis Labs has built a reputation for creating infrastructure designed to support high-frequency, decentralized financial operations. Both founders bring expertise from high-frequency trading, which informs their approach to building scalable and efficient DeFi platforms.
Their previous project, Phoenix, a decentralized order-book exchange on Solana, has proven the viability of on-chain, scalable financial systems. Phoenix’s success demonstrated that it is possible to achieve both performance and security within a decentralized framework, setting the stage for Ellipsis Labs’ next project, Atlas. This $21M fundraise reflects investor confidence in Ellipsis Labs’ ability to innovate and expand the boundaries of decentralized finance.
Atlas: A Blockchain Purpose-Built for Transparent Financial Operations
Atlas is the new blockchain by Ellipsis Labs, crafted specifically for high-performance verifiable finance. Built initially as a layer-2 solution, Atlas leverages Ethereum and Solana’s existing liquidity pools, ensuring that users benefit from cross-chain compatibility and low transaction costs. Atlas is engineered to handle high transaction volumes efficiently, incorporating features such as ultra-low fees, rapid transaction speeds, and precise oracle updates.
Key features of Atlas include:
- Low-latency transaction processing to reduce delays in financial operations.
- Reliable oracle updates that support accurate, real-time data feeds.
- Robust sequencing for on-chain price discovery, facilitating accurate and transparent financial interactions.
By incorporating these capabilities, Atlas addresses one of the critical needs in DeFi today: creating an infrastructure that can scale while preserving transparency and accountability. This architecture is especially vital for financial applications that aim to replace or supplement traditional financial institutions in a decentralized manner.
How Atlas Tackles Core Challenges in DeFi
Atlas is positioned as a solution for several persistent issues in DeFi. Traditional financial markets rely on centralized systems for price discovery and order matching, which ensures efficiency and reduces costs. In contrast, many DeFi platforms struggle with fragmented liquidity, high fees, and slow transactions. Atlas directly tackles these challenges with its low-cost, high-speed architecture, making it an appealing alternative for users looking for more reliable decentralized options.
In terms of price discovery, Atlas provides a fully on-chain mechanism, enabling transparent pricing without dependency on centralized entities. It also addresses high transaction costs, a common pain point in DeFi, through optimized infrastructure designed for high transaction throughput. By implementing these features, Atlas lays the foundation for a DeFi ecosystem capable of competing with traditional finance in terms of cost, speed, and reliability.
Recommended: Wildfire Systems Secures $16M In Series B Funding To Expand Digital Loyalty Platform
Key Supporters and Strategic Insights from Haun Ventures
Haun Ventures, founded by Katie Haun—a notable figure in crypto and law—led this funding round with an additional $1 million from other investors. Haun Ventures brings extensive knowledge in scaling cryptocurrency initiatives, as evidenced by Katie Haun’s prior roles with Coinbase and Andreessen Horowitz. Their support highlights Ellipsis Labs’ strategic importance in advancing decentralized finance through transparent and secure solutions.
Haun Ventures has recognized Ellipsis Labs’ potential to push DeFi into mainstream finance by providing robust systems that meet the security and performance expectations of traditional financial institutions. This $21M round follows Ellipsis Labs’ earlier Series A funding of $20 million led by Paradigm, indicating continued confidence from major investors in the firm’s long-term vision and impact in DeFi.
Phoenix and Atlas: Building Blocks of a New Financial Ecosystem
Ellipsis Labs initially developed Phoenix, an order-book DEX on Solana that quickly became a core piece of DeFi infrastructure. Since its launch in 2023, Phoenix has facilitated over $50 billion in trades, demonstrating its capability to support high-volume trading without relying on centralized controls or incentives. This success provided Ellipsis Labs with valuable insights, guiding the development of Atlas and reinforcing their commitment to scalability and security.
Atlas builds upon Phoenix’s architectural foundation, designed to offer even greater efficiencies and support for on-chain financial applications. With Atlas, Ellipsis Labs aims to integrate the learnings from Phoenix to create an infrastructure that facilitates a wider range of decentralized financial products, making DeFi more accessible to a broader user base. Through these projects, Ellipsis Labs aims to redefine DeFi as a sustainable and scalable alternative to centralized systems.
Shaping the Future of Finance without Borders
Ellipsis Labs envisions a financial world without the boundaries imposed by traditional financial systems, prioritizing transparency, security, and user autonomy. By developing technologies like Atlas, they are laying the groundwork for a more accessible financial ecosystem that enables users worldwide to participate in a transparent, decentralized economy. Ellipsis Labs’ efforts reflect a commitment to building the financial infrastructure necessary for decentralized finance to compete with and complement traditional financial systems.
As Atlas and Phoenix evolve, they represent a step forward for DeFi, one that could ultimately influence broader financial markets. By prioritizing transparency and accessibility, Ellipsis Labs is shaping a future where finance is open to everyone, regardless of geographic or institutional barriers.
Please email us your feedback and news tips at hello(at)techcompanynews.com
