Ellipsis Labs has launched Phoenix Perpetuals, a non-custodial, fully on-chain perpetual futures exchange on the Solana blockchain. Announced at the Solana Breakpoint conference, the platform is designed to be composable and aims to reduce liquidity costs for market makers. Currently, beta testing and a waitlist are available, with plans for further expansion. The launch of Phoenix Perpetuals comes at a time of increased scrutiny on exchange security, following recent hacking incidents. By leveraging Solana's blockchain, Ellipsis Labs seeks to provide a secure and efficient trading environment for users.