What is Ellipsis Finance (EPS) | What is Ellipsis Finance token | What is EPS token

What is Ellipsis Finance (EPS) | What is Ellipsis Finance token | What is EPS token

Ellipsis.finance is an exchange for stable coins on the Binance Smart Chain. It allows for stable coins swap with very low slippage and minimal fees. What is Ellipsis Finance (EPS) | What is Ellipsis Finance token | What is EPS token

Introduction To Ellipsis Finance

Ellipsis.finance is an exchange for stable coins on the Binance Smart Chain. It allows for stable coins swap with very low slippage and minimal fees.

Ellipsis Finance is officially launched on March 2021 and is an authorised fork of Curve Finance; as such those that are familiar with Curve Finance will understand the functionality of Ellipsis Finance.

As a result of this agreement, veCRV holders will receive 25% of the token supply airdropped monthly over the next 12 months based on a set of conditions.

Our team will receive support from the Curve Finance team and will commit to Curve Finance core values which are Zero deposit or withdrawal fees, No Lock Ups on liquidity and extremely efficient stable coin exchanges.

The protocol will first support the swap pairs for BUSD, USDC & USDT. More pairs may be considered in the near future.

First Stablecoin Swap Pair to be supported by Ellipsis Finance is BUSD | USDC

The EPS Token

Ellipsis (EPS) is the native token on the platform the provides value for LPs and token holders

Utility

EPS is a Revenue Earning token where token stakers will earn fees from the Ellipsis protocol.

Trading Fees

Fees will be equally split (50%-50%) between EPS Stakers and Liquidity Providers Reward Pool and Staking Pool

Reward Pool and Staking Pool

Liquidity providers will receive their EPS from the reward pool. Rewarded EPS claims trading fees and vest over 3 Months.

Alternatively users can claim their EPS before the end of their lock-up but with a 50% Early Exit Penalty. The revenue from tax is distributed to users who continue to be locked in the staking pool. As such , the most loyal EPS holders will stand to gain the maximum benefit upon conclusion of the 3 Month vesting period.

The staking pool receives trading fees as well as the EPS Penalty Revenue from people who Exit the reward pool early (Before the end of the 3 Month vesting). The staking pool has no mandatory lock-up.

Liquidity Provider Rewards

80% of those rewards will be distributed to liquidity providers while 20% will be distributed to EPS/BNB Liquidity Providers. The Liquidity Provider rewards will be as follows:

Total of 20% in rewards within Year 1 ; break down as follows :

5% — Month 1

4% — Month 2

3% — Month 3

18% — Rest of Year 1 (2% a month)

Total 12.5% in Rewards in Year 2 | Remaining 12.5% between Year 3 to 5 ; break down as follows :

12.5% — Year 2

6.25% — Year 3

3.125% — Year 4

3.125% — Year 5

Token Supply & Emission

The EPS token supply & emission will be set at one billion (1,000,000,000) tokens and with a emission schedule over five (5) years.

Token Distribution

  • 55% Liquidity Provider Rewards: Continuously minted over 5 years with a progressively decreasing rate
  • 25% veCRV Airdrop: Distributed weekly based on a veCRV snapshot
  • 20% Team / Development Fund: Vested for one year with a continuous release

Earning EPS and Trade Fees

How to earn EPS and trading fees within the Ellipsis Protocol

1. Deposit stablecoins into an Ellipsis exchange pool to receive LP tokens

Ellipsis is an automated market maker (AMM) that allows users to exchange between different stablecoins with very low slippage. To achieve this, we require liquidity. When you deposit stablecoins into Ellipsis you become a "liquidity provider" (LP) and receive "LP tokens" that represent your partial ownership of the stablecoins within the protocol. The value of the LP tokens grows over time, as the protocol collects trading fees which are shared between the liquidity providers.

2. Earn EPS by depositing your LP tokens and / or EPS/BNB LP tokens

a. Deposit your LP tokens into the rewards contract to earn EPS

EPS is the value-capturing token within the Ellipsis protocol. It can be staked to receive a portion of the trade fees generated when users perform exchanges. EPS is distributed as an incentive to liquidity providers, in a process commonly known as "liquidity mining".

To earn EPS with your LP tokens, visit the "staking" page of the website. Choose the pool for which you hold LP tokens, and select "deposit" to transfer them into the rewards contract. You will begin earning EPS immediately, with your claimable balance increasing each time a new block is mined. You can withdraw your LP tokens at any time. Ellipsis does not charge a fee for depositing or withdrawing from the rewards contract and your LP tokens are not locked.

b. Provide EPS/BNB liquidity and earn even more EPS

You can also earn EPS by staking PancakeSwap EPS/BNB LP tokens. The APY for this pool is expected to be much higher than the regular Elippsis pools. To enter this pool you must first obtain balances of both EPS and BNB. Next, visit the PancakeSwap page for EPS/BNB, select "Add Liquidity", and deposit into the pool. Finally, visit the Staking section of the Ellipsis website and deposit your LP tokens. You will start earning EPS immediately.

3. Claim your vested EPS to receive protocol trade fees

After staking your LP tokens, an option will appear to "Vest EPS". At this point your newly earned EPS is "minted" (new tokens are created) and automatically deposited into the fee distribution contract.

Once you have a balance of EPS within the fee distribution contract, you will begin receiving a portion of the trade fees generated by the protocol. Trades fees are split evenly (50/50) between liquidity providers and EPS stakers. The Fees are periodically transferred from the pools into the distributor contract, and released evenly over the following seven days.

Freshly minted EPS is considered "vested" for 90 days. It is possible to withdraw before the 90 days have passed, but doing so will incur a 50% Early Exit Penalty. After 90 days are complete, your vested EPS will become "unlocked" and may be withdrawn freely.

Vested EPS will be subject to 50% Early Exit Penalty should they be withdrawn before 90 Days

You can also purchase EPS on PancakeSwap and deposit it into the fee distributor in order to receive a portion of the protocol trade fees. EPS that is staked in this way (not earned) is unlocked and can be withdrawn at any time without penalty.

Users can purchase EPS and Stake without withdrawal penalties

4. Lock your EPS to receive extra EPS from Early-Exit Penalties

Once you have a balance of EPS within your wallet (either by earning it or purchasing it on PancakeSwap) you can choose to "lock" it within the fee distribution contract. Locked EPS cannot be withdrawn for 90 days - it is NOT possible to pay a penalty to withdraw locked EPS early.

Locking demonstrates a commitment to the long-term vision of Ellipsis. Along with receiving the regular trade fees, users who lock EPS receive 100% of the penalty fees paid by users who withdraw vested tokens. Distribution of exit penalty fees begins immediately when a vested user withdraws early, and are released evenly over the following seven days.

5. Lock CRV on Ethereum to receive an EPS airdrop

The core logic powering Ellipsis is a fork of Curve Finance, a well known AMM and DAO operating on the Ethereum blockchain. Ellipsis will be airdropping 25% of the total supply of EPS (250 million tokens) to members of the Curve DAO based on their veCRV balances. To receive EPS as a part of this airdrop, you must obtain CRV and lock it within Curve's "Vote Escrow". See the following link for more information: Vote Locking​

  • The EPS airdrop will occur weekly, using a merkle distributor with a series of proofs. The Curve team will assist in validating and processing these proofs to ensure the ongoing security for EPS token holders.

Airdrop to veCRV Holders

EPS Tokens will be airdropped to Curve DAO's veCRV holders

In the spirit of collaboration with Curve Finance, and to allow Curve DAO members to receive a portion of trade fees generated by Ellipsis, EPS will be distributed to veCRV holders through a series of airdrops.

In total, 25% of the EPS total supply has been allocated for airdrop. Each week a snapshot of current veCRV balances will be taken, and used to generate a merkle root for distribution.

  • The first distribution is expected to occur within days of the launch of the Ellipsis protocol. More information will be added here as it becomes available.

Links to Ellipsis contracts on the Binance Smart Chain mainnet

Protocol

StableSwap: 0x160CAed03795365F3A589f10C379FfA7d75d4E7``​

LpTokenStaker: 0xcce949De564fE60e7f96C85e55177F8B9E4CF61b

EpsStaker: 0x4076CC26EFeE47825917D0feC3A79d0bB9a6bB5c``​

FeeConverter: 0x604348a7e98113E14c318605C458fBfB3B0Dd3f6

MerkleDistributor: 0x60a8AD8470189033789c1053B0c6F89eB27Bca18

Tokens

Ellipsis (EPS): 0xA7f552078dcC247C2684336020c03648500C6d9F

Ellipsis BUSD/USDC/USDT (3EPS): 0xaF4dE8E872131AE328Ce21D909C74705d3Aaf452

  • PancakeSwap EPS/BNB: 0xf9045866e7b372def1eff3712ce55fac1a98daf0``​

Would you like to earn TOKEN right now! ☞ CLICK HERE

How and Where to Buy Ellipsis Finance (EPS)?

EPS is now live on the Binance mainnet. The token address for EPS is 0xa7f552078dcc247c2684336020c03648500c6d9f. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

Just be sure you have enough BNB in your wallet to cover the transaction fees.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step

You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet

If you don't have a Metamask wallet, read this article and follow the steps ☞What is Metamask wallet | How to Create a wallet and Use

Next step

Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy EPS token

Contract: 0xa7f552078dcc247c2684336020c03648500c6d9f

Read more: What is Pancakeswap | Beginner's Guide on How to Use Pancakeswap

The top exchange for trading in EPS token is currently Binance, MXC.COM, and PancakeSwap

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once EPS gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.comhttps://www.bittrex.comhttps://www.poloniex.comhttps://www.bitfinex.comhttps://www.huobi.comhttps://www.mxc.aihttps://www.probit.comhttps://www.gate.iohttps://www.coinbase.com

Find more information EPS

WebsiteSource CodeSocial ChannelSocial Channel 2Coinmarketcap

🔺DISCLAIMER: The Information in the post is my OPINION and not financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

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