Ellipsis Labs Phoenix Reviews

Ellipsis Labs Phoenix Description

Building the liquidity foundation of DeFi. High-throughput blockchains have allowed the creation of new financial fundamentals. Ellipsis Labs has built Phoenix, a fully on-chain decentralized limit orderbook on Solana. It is non-custodial and crankless. A composable liquidity hub is an important public good that all DeFi users can benefit from. Developers can create other on-chain apps that either draw liquidity from or post liquidity to the canonical source of liquidity. AMMs rely on unsustainable incentives for liquidity or force retail LPs into losing money consistently. Solana DEXs are able to support active liquidity provisioning due to their high throughput, quick blocks, and low fees. This allows professional market makers to provide deeper and tighter liquidity while remaining profitable and sustainable. Phoenix offers instant settlement. Phoenix does not require an asynchronous clock to settle trades, unlike existing order books on Solana.