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Ellipsis Labs Launches On-Chain Perpetual Exchange Phoenix Perpetuals on Solana

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On-chain news broke at the Solana Breakpoint conference on December 11 (UTC+8), where Ellipsis Labs CEO Eugene Chen announced Phoenix Perpetuals, a non-custodial, fully on-chain perpetual futures exchange built on Solana. The platform is composable and aims to lower liquidity costs for market makers. Beta testing and a waitlist are now open, with plans for broader expansion. The project comes amid heightened focus on exchange security, especially after recent exchange hack incidents.
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