Ellipsis Labs Launches DEX Phoenix on Solana Network, Offering Liquidity to Traders
It is reported that Ellipsis Labs announced that DEX Phoenix is online on the main network of Solana (beta), and traders can obtain liquidity through Jupiter E…
It is reported that Ellipsis Labs announced that DEX Phoenix is online on the main network of Solana (beta), and traders can obtain liquidity through Jupiter Exchange. When Phoenix provides the best price on the chain, Jupiter will automatically trade through Phoenix.
Phoenix, the decentralized exchange, launched the test version on the main network of Solana
Interpretation of the news:
Ellipsis Labs, a blockchain technology company, has launched its decentralized exchange, DEX Phoenix, on the main network of Solana (beta). This move offers traders the ability to obtain liquidity through Jupiter Exchange while ensuring they have the best price on the chain. In other words, when Phoenix provides the best price for a particular asset or token, Jupiter will automatically trade through Phoenix.
This announcement marks a significant milestone for Ellipsis Labs and the broader Solana community. DEX Phoenix is a decentralized exchange built on the Solana ecosystem that offers users faster transaction times and lower fees than other platforms. The Solana network is designed specifically to accommodate high-throughput and low-latency applications, making it an ideal platform for decentralized exchanges.
The launch of DEX Phoenix on Solana’s main network brings additional liquidity to the platform, enabling traders to access more assets and tokens, and transact more easily. This is because liquidity on decentralized exchanges is driven by the number of traders, the number of assets or tokens, and volume. The more liquidity a platform has, the easier it is for traders to buy or sell assets, and the more efficient the platform becomes.
Jupiter Exchange, a Canadian-based cryptocurrency exchange, provides users with cross-chain trading capabilities, enabling traders to access liquidity on multiple blockchain networks. The partnership between Jupiter and Ellipsis Labs is expected to bring additional liquidity to DEX Phoenix, further enhancing the user experience for traders.
In conclusion, the launch of DEX Phoenix on Solana’s main network is a significant development for the decentralized exchange space, offering traders additional liquidity and a better user experience. With Solana’s speed and efficiency, combined with Jupiter Exchange’s cross-chain capabilities, DEX Phoenix is well-positioned to attract a growing number of traders looking for a fast and reliable decentralized exchange platform.
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