Foresight News reports that, according to CoinDesk, Solana-based DeFi protocol Phoenix developer Ellipsis Labs has completed a new funding round of $21 million, including $20 million from Haun Ventures and $1 million from other investors, to accelerate the launch of the Layer 2 blockchain Atlas focused on verifiable finance. Ellipsis stated it plans to apply its experience building Phoenix to Atlas, which was initially launched as a Layer 2 solution on Ethereum aimed at accessing liquidity pools from both Ethereum and Solana; key features will include low-latency transaction processing, reliable oracle updates, and sorting for non-custodial on-chain price discovery.
Foresight News previously reported that Ellipsis Labs completed a $20 million Series A funding round in April this year, led by Paradigm, with participation from Electric Capital.
