Ellipsis Labs
Headquarters
New York United States
About us
Ellipsis Labs builds applications and infrastructure to create a sustainable foundation for finance.
Built to replace the century-old financial system, Ellipsis Labs develops high-performance DeFi protocols on Solana that match traditional finance efficiency without sacrificing transparency. The New York-based startup has facilitated over $285B in trading volume across its product suite. Phoenix Legacy established the company as a leader in on-chain limit order books, while Phoenix Perpetuals brings institutional-grade derivatives to DeFi with sub-1 bps slippage and gasless execution. SolFi, their proprietary automated market maker, provides efficient liquidity for key trading pairs. The team is building Atlas, a Layer-2 blockchain designed to deliver Solana-level performance at Ethereum scale. All work happens in-person at their Chelsea office, where the culture emphasizes end-to-end ownership and rapid iteration.
Products
Phoenix Legacy is a fully on-chain limit order book DEX that brings capital efficiency to Solana spot trading. Phoenix Perpetuals extends this with professional-grade derivatives featuring low-latency execution and advanced AMM liquidity innovations. SolFi operates as their proprietary market maker, capturing significant market share on Solana. Atlas represents their next evolution — a Layer-2 blockchain built to run high-performance DeFi applications. The company also contributes open-source tools like Gavel for token distribution, Plasma for sandwich-resistant AMMs, and the Verifiable Build CLI.
Funding
Ellipsis Labs has raised over $41 million across multiple rounds. The company secured a $20 million Series A in April 2024 led by Paradigm with Electric Capital participating. Following Phoenix's success as a top-five DEX by volume, they raised an additional $21 million Series A-II in October 2024 led by Haun Ventures. The latest round specifically funds Atlas development. Notable investors include Robot Ventures, Anagram, and angels like Anatoly Yakovenko and Justin Drake. The company is profitable and valued at $398 million as of late 2024.
Recent news
In December 2025, Ellipsis Labs officially announced the launch of Phoenix Perpetuals, a fully on-chain perpetual futures exchange on the Solana blockchain, during the Solana Breakpoint conference in Abu Dhabi.
Technology
Rust powers the core backend and on-chain protocols, chosen for performance and safety in high-frequency trading environments. React and TypeScript handle frontend development and user interfaces. The infrastructure relies on Docker, CI/CD pipelines, and cloud platforms with Cloudflare for CDN delivery. Development spans the full stack from Solana blockchain integration to traditional web services. The team also works with Python, Java, and C/C++ for various system components, plus Git for version control and Unix systems for infrastructure.
Benefits
The company offers above-market salaries with generous equity grants and performance bonuses. Health, dental, and vision insurance are 90% covered for employees and families. Financial benefits include 401(k) matching, FSA accounts, and pre-tax commuter benefits. Employees get unlimited PTO and up to 12 weeks paid family leave. Daily catered lunch and dinner are provided at the beautiful Chelsea office with natural light. Professional development is supported through conference travel coverage. Interns receive $10,000 monthly compensation.