Ellipsis.finance is an exchange for stablecoins on the Binance Smart Chain (BSC) that allows for a stablecoin swap with very low slippage and minimal fees. It is an authorized fork of Curve Finance and, as a result of this agreement, veCRV holders will receive 25% of the supply over the next 12 months.
It is the most flexible and capital-efficient DEX on the BNB chain. Ellipsis is a decentralized exchange and an authorized fork on the BNB chain that generally solves 3 problems. These solutions include offering efficient, well-priced swaps, offering the yield to token holders in a safe, well-tested environment, and offering a solution for protocols to build deep liquidity for their tokens.
Unlike exchanges that match a buyer and a seller, Ellipsis uses liquidity pools. To achieve successful exchange volume and low slippage, Ellipsis needs a large amount of liquidity (tokens) in the pools. To incentivize liquidity to deposit in Ellipsis pools, Ellipsis offers rewards in EPX tokens to liquidity providers.
Liquidity pools are pools of tokens that sit in smart contracts and can be exchanged or withdrawn at rates set by the parameters of the smart contract. Liquidity providers (LPs) refer to the people who provide liquidity in Ellipsis’ pools. When you deposit, in return you will receive LP tokens representing your deposit in the pool.
Ellipsis trading fees are 0.04% for stable or like-kind pools, and range from 0.04% to 0.4% for crypto pools like BUSD <> BNB.
50% of the trading fees are distributed to liquidity providers in the pools where the trades happen. The other 50% is distributed to EPX lockers.
Becoming a liquidity provider in an Ellipsis Crypto pool is in all ways similar to stable pools. Unlike stable pools, you will gain exposure and risk to all assets in the pools, also known as impermanent loss. To provide liquidity to the pool, you can choose to add a single asset to the pool or add multiple assets, depending on the pool.
Crypto pools are elliptic pools holding assets with different prices. Ellipsis’ core originally was pegged assets, but a new type of AMM allows for extremely efficient trading and low risk of non-pegged assets. Crypto pools use liquidity more effectively by concentrating it at current prices. As trades happen, the pool readjusts its internal price to the highest liquidity region without creating losses for the pool.
Ellipsis (EPX) is the native token for Ellipsis. It has four main uses, and they are:
- As a reward for liquidity providers.
- For voting on pool incentives.
- Locking for platform fees.
- Locking to boost liquidity provider rewards.
Ellipsis (EPX) is the native token for Ellipsis. The main purposes of the EPX token are to incentivize liquidity providers on Ellipsis.finance and to allow users to participate in the incentive distribution.
Currently, EPX has three main uses: voting, locking, and boosting.
EPX can be locked for up to one year, allowing users to vote on EPX pool incentives for liquidity providers, receive boosted yields as an LP, receive platform fees, and vote on the eligibility of pools to receive incentives.
Who are the founders of Ellipsis (EPS)?
Ellipsis was founded by Mainul I Mondal. He is not only Ellipsis’ founder but also a member of the World Economic Forum and also on the Board of Trustees of the World Affairs Council.
What is Ellipsis Finance (EPS) used for?
Staking
Staking LP tokens refers to staking your LP tokens in Ellipsis to receive the EPX rewards from a pool. The Ellipsis token (EPS) is revenue-earning. EPS stakeholders can earn fees from the Ellipsis protocol.
Incentive and reward
The fees will be equally split between EPS stakers and liquidity providers (50%/50%). Also, 80% of those rewards will be distributed to liquidity providers, while 20% will be distributed to EPS/BNB liquidity providers.
Liquidity providing
Liquidity providers will receive EPS tokens from the reward pool. Rewarded EPS claims trading fees and vest over three months.
Boosting
One of the main incentives for EPX is the ability to boost your rewards on provided liquidity. Voting to lock EPX allows you to acquire voting power and earn a boost of up to 2.5x on the liquidity you are providing on Ellipsis.
Voting
EPX holders with locked EPX (vlEPX) can participate in some limited governance on Ellipsis, namely pool incentive votes and votes to enable incentives on pools.
Locking
The EPX can be locked to receive trading fees from the Ellipsis protocol. These fees will be paid out in the tokens as they are collected, so fees in renBTC will be available as renBTC, and fees in BUSD will be available as BUSD.
How is Ellipsis Finance (EPS) unique?
Ellipsis is an Automated Market Maker (AMM) or exchange that lets users and other decentralized protocols exchange tokens (BUSD to USDC, for example) with low fees and low slippage.
Anybody can use an ellipsis. People who need to swap tokens, people with tokens looking for yield, and protocols looking for liquidity for their pools can use Ellipsis.
Ellipsis’s agreement with Curve Finance also allows Curve Finance to provide support to the Ellipsis team. This support ranges from no deposit or withdrawal fees, no lockups on liquidity, and an extremely efficient stable coin swap.
How many Ellipsis Finance (EPS) coins are in circulation?
Ellipsis has a total supply of 1,000,000,000 EPS coins. The coins are shared as follows:
25% veCRV — Airdropped weekly for over a year
55% LP Rewards
20% team — vested for one year.
How is Ellipsis Finance secured?
As part of their efforts to improve transparency, the Ellipsis team has secured the first audit with Hacken. As with any liquidity provided on the blockchain, there are some smart contract risks involved. The Curves’ crypto pools have been audited by MixBytes and ChainSecurity, but the audit never eliminates risks.
How do I buy Ellipsis Finance (EPS)?
The EPS token can be used for a wide range of uses, like staking and boosting.
EPS tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy EPS through your trading account.
Which Cryptocurrency Wallet Supports Ellipsis Finance (EPS)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Ellipsis (EPS). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their EPS wallet because it offers a simple interactive interface, making it easy for people to navigate its system.
