Ellipsis (EPS)

Ellipsis (EPS) is the original native token of Ellipsis Finance, a decentralized exchange built on BNB Smart Chain as an authorized fork of Curve Finance. The protocol launched in March 2021 with support from the Curve Finance team and set out to solve a specific problem on BNB Chain: swapping stablecoins and other pegged assets with low fees and minimal slippage, something general purpose automated market makers handle poorly.

Ellipsis uses Curve’s StableSwap invariant across a set of liquidity pools. Its two original base pools are 3EPS, holding BUSD, USDC and USDT, and btcEPS, holding renBTC and wBTC. Meta pools let additional tokens trade against a base pool, while permissionless factory pools allow any project to launch its own pool on the exchange. Trading fees range from 0.04 percent on stable and like kind pairs up to 0.4 percent on more volatile crypto pairs, split evenly between liquidity providers and stakers of the platform’s token.

EPS originally functioned as the fee earning and staking token of the exchange, with holders locking it to receive a share of trading revenue. With the Ellipsis 2.0 upgrade, the project migrated its core tokenomics to a new token, EPX, at a fixed exchange rate, shifting staking, fee distribution and pool incentive voting to EPX while leaving contract control immutable. EPS remains tradable as the legacy token from that earlier phase of the protocol.