Ellipsis Labs will use the new funding to accelerate the progress of DeFi up and down the stack.
Ellipsis Labs, a developer in the crypto exchange sector, has secured $20 million in Series A funding, with Paradigm leading the investment round.
According to a post on X, Electric Capital also participated in the round, which had additional support from Justin Drake and Mike Neuder of the Ethereum Foundation, Sreeram Kannan from EigenLayer, Anatoly Yakovenko from Solana Labs, Uri Klarman from bloXroute and others
Ellipsis Labs is the developer behind Phoenix, a decentralized exchange (DEX) with an on-chain order book built on the Solana blockchain.
