Deep Dive #4 | ELLIPSIS.FINANCE | Secure, low-slippage stable swapping on BSC

What is ELLIPSIS.FINANCE 

Ellipsis.finance, and authorized fork of Curve Finance: A trustless and decentralized architecture, zero deposit or withdrawal fees, no lockups on liquidity, and extremely efficient stable coin exchanges. 

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The protocol initially supports swaps between 8 pools (Updated Tue, 06 Jul 2021) More pairs will be added in the future. 

Tokenomics 

Overview: 

Ticker:$EPS

Token Type: BEP20 (Binance Smart Chain)

Max Supply: 1.000.000.000

Circulating Supply:  375.053.059

55% Liquidity provider rewards: Continuously minted over five 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.

The benefits of $EPS tokenomics: 

Reward Pool and Staking Pool:

Liquidity providers receive EPS rewards that vest for 3 months. Rewards can be claimed before the end of the vesting period but are subject to a 50% early exit penalty.

EPS from the early exit penalty is distributed to the locked staking pool. The most loyal EPS holders will stand to gain the maximum benefit upon the 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 the rewards are distributed evenly between liquidity providers of the stablecoin pools  while 20% are distributed to EPS/BNB liquidity providers. 

30% of EPS supply as rewards within year one as follows:

5% — month 1

4% — month 2

3% — month 3

18% — rest of year 1 (2% a month) 

12.5% of EPS supply as rewards in year two and the remaining 12.5% between years three to five as follows:

12.5% — year 2

6.25% — year 3

3.125% — year 4

3.125% — year 5

Project Highlights

The main functions of ELLIPSIS.FINANCE include

StableSwap:

The protocol’s is a fork of Curve’s stableswap contract. Users put stablecoins into the contract and get LP tokens in return.

Staking EPS:

Allows users to stake EPS in order to receive a portion of the trade fees generated by the Ellipsis platform. It is loosely based on the Synthetix staking rewards contract.

How to Staking EPS:

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.

Lock EPS and receive 100% of the penalty fees from early exit penalties.

Staking LP Tokens to POOL and earn $EPS: ( Beware of Impairment Loss)

Allows users to stake different LP tokens in order to receive EPS. It is based on the well known Sushi MasterChef contract

How to staking LP

Visit the website’s staking page to earn EPS with your LP tokens. Choose a pool for your LP tokens and deposit them into the rewards contract by clicking “Deposit.” 

You’ll start earning EPS right away, and your claimable EPS amount will grow as additional blocks are mined.

LP tokens can be withdrawn at any time, but you will no longer earn EPS

MerkleDistributor 

MerkleDistributor is used to handle the ongoing airdrop of EPS to the Curve community. This contract is used to handle the weekly distribution of EPS to veCRV holders within the Curve DAO.

Trading Fees

Ellipsis trading fees are 0.04%. 50% of the trading fees are distributed to liquidity providers in the pools where the trades happen. The other 50% is distributed to EPS stakers.

How to add LP tokens on PancakeSwap

By providing liquidity here on PancakeSwap, you can become a PancakeSwap liquidity provider for EPS-BNB.

Make sure you have BNB and EPS tokens in your wallet and that you’re connected to PancakeSwap if you want to add liquidity.

The interface will allow you to provide the correct proportions of BNB and EPS, and you may need to authorize PancakeSwap to transfer your tokens on your behalf. Click “Supply” and confirm the transaction; your tokens will be fed into the pool, and you will receive Cake EPS/BNB tokens in your wallet. These tokens can now be staked on Ellipsis.finance to earn EPS tokens.

Conclusion: Comments and Ratings of the writer

$EPS has had a long downtrend But at the moment there is hard support at $0.333.  

The Ellipsis team will receive support from the Curve Finance team. Therefore, it is completely possible to believe in the ability to develop projects that can go far. Ellipsis is a DeFi solution that combines Oracle that allows DeFi to overcome the limit of optimal ability to Provide Liquidity to everyone on BSC When the uptrend returns, $EPS will be a name you should not ignore 

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Source : bscdaily

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