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Ellipsis Labs introduces DEX Phoenix on Solana main network

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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…

Ellipsis Labs introduces DEX Phoenix on Solana main network

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

Analysis based on this information:


Ellipsis Labs, a blockchain development company, has announced that the decentralized exchange (DEX) Phoenix is now available on the main network of Solana (beta). Traders can now access liquidity through Jupiter Exchange, and when Phoenix provides the best price on the chain, Jupiter will automatically trade through Phoenix.

This announcement is significant because Solana is a high-performance blockchain that is gaining popularity due to its speed and scalability. Solana provides developers with a fast and efficient platform for building decentralized applications (dapps) that can handle high volumes of transactions. This makes it an attractive platform for companies like Ellipsis Labs to build and launch their dapps.

The introduction of DEX Phoenix on Solana’s main network provides traders with a decentralized platform for trading cryptocurrencies. DEXs are gaining popularity because they offer users greater control over their assets and higher levels of privacy. Unlike centralized exchanges (CEXs), DEXs allow users to trade directly with each other without the need for a middleman.

Moreover, DEXs like Phoenix on Solana’s main network can provide liquidity for traders thanks to the use of automated market makers (AMMs). AMMs use algorithms to calculate the price of assets based on the market’s supply and demand. AMMs can provide liquidity even for assets with low trading volumes, making it easier for traders to buy and sell their assets.

Jupiter Exchange is an innovative platform that allows users to access liquidity across multiple DEXs. Jupiter’s automatic routing system enables traders to access the best prices across different DEXs without having to switch between multiple platforms. This feature eliminates the need for traders to monitor the price across multiple DEXs, making it easier and more convenient to trade cryptocurrencies.

In conclusion, Ellipsis Labs’ introduction of DEX Phoenix on Solana’s main network is a significant development that provides traders with a decentralized platform for trading cryptocurrencies. The use of automated market makers and Jupiter Exchange’s automatic routing system can provide traders with greater liquidity and access to the best prices. As the popularity of Solana and decentralized trading continues to grow, we can expect to see more companies building and launching their dapps on this platform.

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