Ellipsis Labs

Ellipsis Labs is a profitable, venture-backed New York-based startup building sustainable and efficient DeFi protocols on high-throughput decentralized infrastructure. Its stated long-term goal is to build a better financial system, and the company describes its mission as rebuilding the foundation of modern finance: early crypto sacrificed performance, traditional finance lacks transparency, and Ellipsis Labs exists to make finance transparent and performant.

The company’s flagship product, Phoenix Perpetuals, brings professional-grade perpetual futures to Solana. Perpetual futures are derivative contracts that track an underlying asset price without a fixed expiry, and Phoenix Perpetuals is positioned as institutional-grade infrastructure for trading these instruments on a high-throughput blockchain.

Building on its experience developing efficient markets, Ellipsis Labs also operates SolFi, a proprietary automated market maker that provides efficient liquidity for key trading pairs. An automated market maker is a smart-contract-based mechanism that prices and executes trades using pooled liquidity rather than a traditional order-matching book, and SolFi is the company’s proprietary implementation of that model.

The foundational product, Phoenix Legacy, is a limit order book on the Solana blockchain that established the team’s expertise in operating high-performance markets. A limit order book lets traders post bids and offers at specified prices, and running one on-chain at scale requires careful engineering of latency, throughput and market microstructure.

Combined, these products have facilitated over $285 billion in trading volume across Solana markets, according to the company’s own job postings. Ellipsis Labs has raised more than $44 million from investors including Paradigm, Haun Ventures and Electric Capital, as described in a recruiting post by a member of its talent team.

The company describes itself as part of a vertically integrated DEX stack on Solana and as one of the most active and prominent on-chain market makers in crypto. Its work spans trading infrastructure, risk systems, liquidity provision and the software engineering that connects them, with Rust and Solana development recurring across its technical roles.

Ellipsis Labs publishes explicit culture principles. “Just win, baby” holds that process exists only to support outcomes and results are what matter. “Team over individual” emphasizes alignment and shared responsibility for outcomes. “Raise the bar” describes continuous improvement supported by feedback and shared standards. “Built in person” explains that the team works in person because being in the same room helps it move faster, stay aligned and do its best work.

The company’s careers page also documents benefits including above-market salary and equity, discretionary performance-based bonuses, health, dental and vision insurance with 90% of premiums covered, an FSA, a 401(k) with company match, commuter benefits, optional company-paid travel to conferences, unlimited paid time off, and daily lunch and dinner provided at the office. Its engineering hiring process runs from an introductory recruiter call through a live coding exercise, a take-home project and a full-day final round onsite covering coding, system design, a bug squash and a culture interview.