Ellipsis (Solfi & Phoenix)
Both SolFi and Phoenix are DEXs on Solana that are developed by Ellipsis Labs.
- Phoenix operates as a decentralized limit order book and was launched in 2023.
- SolFi launched in late 2024 and operates as a private AMM. They are one of three largest private AMMs on Solana with ZeroFi and Obric being the other two. Liquidity on SolFi is priced via oracle updates and is a more active way for liquidity provision than the passive system of x*y=k.