TechFlow News, according to Fortune, Ellipsis Labs, the developer of decentralized exchange Phoenix, has announced the completion of a $20 million Series A funding round led by Paradigm, with participation from Electric Capital. In a statement, the company said the funds will accelerate its efforts "to create a new financial ecosystem that delivers competitive financial products on high-throughput blockchains," combining the accessibility and transparency of DeFi with the efficiency of traditional markets.
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