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What is Ellipsis Finance?

Ellipsis Finance is an AMM-based decentralized exchange on the BSC ecosystem, dedicated to stablecoins (BUSD, USDC, USDT, DAI,…). Ellipsis just launched in March 2021. It is an authorized arm of Curve Finance. With the support of the Curve Finance team, Ellipsis Finance is committed to upholding the core values that make up Curve’s brand.

Ellipsis is a non-custodial platform, so Ellipsis developers do not have access to your assets. Because it acts as an authorized fork of Curve Finance, those familiar with Curve Finance will understand the functionality of Ellipsis Finance. As such, Ellipsis Finance will support exchange pairs for BUSD, USDC, and USDT. Additional pairs may be considered in the near future.

Project highlights

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Pool Rewards and Pool Staking

Ellips includes the following core smart contracts:

StableSwap is a fork of Curve’s stableswap contract and is the main focus of the protocol. Users deposit stablecoins into the contract; they will receive LP tokens.

LPTokenStaker allows users to stake their LP tokens to earn EPS, tokens that support the Ellipsis protocol. A bonus EPS is generated in EpsStaker. Users can also stake EPS in this contract to receive a portion of the transaction fees generated by exchange contracts.

The MerkleDistributor is used to handle the ongoing EPS airdrop for the Curve community.

Ellipsis 2.0

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Version 1.0 made Curve’s StableSwap protocol available to users on the BNB chain. Version 2.0 will bring other features of Curve to Ellipsis:

  • Vote to rate the reward.
  • Weighted voting rewards
  • Increase the reward.

A user’s locked tokens will also determine the APR gain to apply to their liquidity offer rewards.

How does Ellipsis Finance work?

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Ellipsis Finance has the same model as Curve Finance, but there are some differences:

  • Working with the AMM mechanism, the assets on Ellipsis will not be traded as an order book (order book), but will be swapped in a liquidity pool (liquidity pool) according to the formula of a smart contract with a guaranteed slippage extremely low end.
  • Ellipsis uses a liquidity pool and provides rewards to liquidity providers. A small fee is charged on every transaction on Ellipsis Finance, and part of this fee is shared equally among all liquidity providers.
  • The transaction fee is divided into 2 parts: 50% provides liquidity to the very pool in which the transaction takes place. Users can stake 50% of their EPS Tokens.

Token Basics

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Token name: Ellipsis token
Ticker: EPS
Blockchain: Binance Smart Chain
Token Standard: BEP20
Token type: Utility token
Contract address: 0xa7f552078dcc247c2684336020c033648500c6d9f
Supply of Circulation: 698,445,817 EPS
Total Initialization Supply: 1,000,000,000 EPS

Move EPS to EPX

  • Tokens can be moved through the portal.
  • EPX tokens will be locked for transfer until the start of the Ellipsis 2.0 protocol, scheduled for April 13.
  • Vote on EPX’s general incentives for liquidity providers.
  • Receive an increased yield as an LP.
  • Obtain platform fees.
  • Vote on the eligibility of pools to receive incentives.

EPS Utility Token

EPS is the utility token of Ellipsis and is described by the project as a “store of value currency”. EPS is used for the following purposes:

  • Provide liquidity to the reward pool: liquidity providers will have to lock their EPS for more than 3 months to receive all the rewards. If users withdraw their EPS early, they will have to pay an Early Exit Penalty of 50% of their profits.
  • Users can stake EPS tokens and receive fees from the Ellipsis Finance protocol and revenue from the Early Exit Penalty. Ellipsis Staking Pool does not require lock-up like Reward Pool.
  • Airdrop Rewards: Ellipsis will airdrop 25% of the total EPS supply to Curve DAO members based on their veCRV balance.

Token Allocation

Reward (55%) for providing liquidity: Mint continuously for 5 years, with a corresponding decrease over time.

veCRV (25%) airdrop: Weekly distribution to veCRV Token holders.

Team/Development Fund (20%): Distributed in 1 year.

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