Ellipsis Labs Takes Credit for Successful Solana DEX SolFi
SolFi, a decentralized exchange (DEX) launched in November, has quickly captured over 20% market share for swaps between stablecoins and SOL. The DEX offers competitive pricing but initially lacked transparency regarding its creators.
Ellipsis Labs, known for developing Ethereum layer-2 Atlas, claimed responsibility for SolFi's development. Co-founder Eugene Chen stated the DEX leverages their understanding of Solana's market structure. SolFi is integrated with Jupiter Exchange, where it constitutes 25% of volume among the 51 DEXs in the aggregator.
Other anonymous DEXs on Solana include Orbic and ZeroFi, both achieving notable trading volumes without disclosing their developers.