Ellipsis is a decentralized exchange that allows for the swapping of stablecoins with low slippage and minimal fees on BNB Chain. It is an authorized fork of Curve.
On March 18th, 2022, Ellipsis released version 2.0 and changed the token ticker from EPS to EPX. The original EPS tokens migrated to EPX at a ratio of 1:88. The relative total supply increases 1.5x.
EPX is Ellipsis' BEP-20 native token. Users can lock EPX to receive vlEPX, and has the following utilities:
Receive trading fees: trading fees on the platform will be paid out proportionately to the amount of vlEPX each user hold. Fees will be collectecd over a week and be paid out the following week.
Boosting: vlEPX allows holders to earn a boost of up to 2.5x on the liquidity they are providing on Ellipsis.
Voting: vlEPX holders can participate in some limited governance on Ellipsis, like managing pool incentives.
The project consists of the following major components working in conjunction:
Base Pools: Ellipsis has two base pools, the 3EPS pool consisting of BUSD, USDC and USDT, and the btcEPS pool, consisting of renBTC and wBTC.
Meta pools: they allow for one token to trade with another token with a Base pool as underlying. For example, users could seamlessly trade fUSDT between the three coins in the 3EPS pool (BUSD-USDC-USDT).
Factory pools: permissionless pools that can be created by anyone.
More details of the EPX token allocation can be found here.
As at June 12th 2022, the maximum supply of EPX is 132,000,000,000.