Ellipsis Labs Expands Phoenix with SOL as Collateral Option

Ellipsis Labs has expanded its Phoenix platform by enabling SOL as collateral. This move allows traders to use SOL (weighted at 80%) alongside USDC to margin positions, giving them more funding options and potentially boosting liquidity on the platform.

The addition of SOL as collateral also reflects a broader push to increase flexibility in Solana's ecosystem. As for the specifics of this implementation, P&L will continue to settle in USDC, and any SOL used as collateral can be sold only to cover shortfalls during risk events.

This expansion is part of Ellipsis Labs' multicollateral roadmap, which aims to further grow volumes and user base by adding more collateral types with set parameters. This development has been viewed as a positive step in the Solana ecosystem's push towards greater flexibility and adoption.