Ellipsis (OLD)

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Discover Ellipsis (OLD)'s fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ellipsis (OLD)?

Ellipsis (OLD) (EPS) is a cryptocurrency token that operates on the BNB Smart Chain (BEP20) platform. It is designed to provide secure and low-slippage stable swapping services, primarily benefiting liquidity providers and stakers. The token is part of a decentralized finance (DeFi) protocol that aims to enhance the liquidity of stablecoin assets within the Binance Smart Chain ecosystem.

How is Ellipsis (OLD) used?

Ellipsis (OLD) (EPS) is a governance token for the Ellipsis decentralized exchange (DEX) built on the Binance Smart Chain (BSC). The token serves several purposes within the Ellipsis protocol:

  1. Governance: EPS holders have the power to vote on proposals and decisions within the Ellipsis system, allowing them to participate in the decision-making process.

  2. Liquidity Provision: Users can deposit tokens into liquidity pools on Ellipsis in exchange for rewards. This mechanism helps maintain liquidity and facilitates stablecoin swaps on the platform.

  3. Staking: EPS tokens can be staked to earn rewards. The fees generated from swaps on the DEX are split 50:50 between liquidity providers and EPX stakers, incentivizing users to participate in the ecosystem.

  1. Trading: EPS tokens can be bought, sold, and traded on various decentralized exchanges, such as Pancakeswap V1 (BSC), Mdex BSC, and PancakeSwap (v2), among others.

Overall, the EPS token plays a crucial role in maintaining the functionality and governance of the Ellipsis DEX, while also providing opportunities for users to earn rewards and participate in the platform's decision-making process.

How do I store Ellipsis (OLD)?

To store Ellipsis (OLD) (EPS) tokens, you can use the Trust Wallet. Here is a step-by-step guide to add Ellipsis to Trust Wallet:

  1. Install Trust Wallet: Download and install the Trust Wallet app on your mobile device.
  2. Create a Wallet: Create a new wallet or import an existing one.
  3. Add Ellipsis: Search for Ellipsis (OLD) (EPS) in the wallet and add it to your wallet.
  4. Import Contract Address: If you already have EPS tokens, you can import them by copying the contract address (0xa7f552078dcc247c2684336020c03648500c6d9f) and manually importing it into the wallet.

Alternatively, you can also use MetaMask to store and manage your EPS tokens. To do this:

  1. Install MetaMask: Install MetaMask as a browser extension or mobile app.
  2. Create a Wallet: Create a new wallet or import an existing one.
  3. Add Ellipsis: Copy the contract address (0xa7f552078dcc247c2684336020c03648500c6d9f) and import it manually into MetaMask, or use CoinGecko's one-click feature if you have the MetaMask Chrome extension installed.

Both Trust Wallet and MetaMask allow you to view your token holdings, trade on decentralized exchanges, and manage your EPS tokens securely.

How to buy Ellipsis (OLD)?

To buy Ellipsis (OLD) (EPS) tokens, follow these steps:

  1. Find a Reliable Centralized Exchange: Look for a reliable centralized exchange where EPS is listed. You can refer to CoinMarketCap's Markets section to find a list of exchanges that support EPS trading.

  2. Buy Ethereum (ETH): If the exchange does not have a direct EPS listing, you can buy Ethereum (ETH) first. This will allow you to access a multitude of tokens, including EPS, through decentralized exchanges (DEXs).

  3. Create a MetaMask Wallet: Download and set up a MetaMask wallet, which is compatible with Ethereum and most major blockchains. This will facilitate access to DEXs and decentralized applications (DApps).

  1. Transfer ETH to MetaMask: Transfer your ETH from the centralized exchange to your MetaMask wallet. This may involve paying a gas fee.

  2. Connect to a DEX: Connect your MetaMask wallet to a DEX that lists EPS, such as PancakeSwap. Select ETH as the payment and EPS as the cryptocurrency you want to buy, then make the swap.

  3. Complete the Transaction: Preview the transaction details and confirm your purchase. Your Ellipsis (OLD) purchase will be completed once the transaction is processed.

Remember to carefully check addresses and be cautious of potential frauds or phishing attacks, especially if you need to manually enter a smart contract address.

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History of Ellipsis (OLD)

Ellipsis (OLD) (EPS) is a cryptocurrency token that was part of the Ellipsis decentralized exchange project. The project was an authorized fork of Curve and focused on stablecoin swaps with low slippage and minimal fees on the BNB Chain. The token, EPS, was used for various utilities within the platform, including fee collection, boosting liquidity, and governance.

The token's history includes a significant event on March 18th, 2022, when Ellipsis released version 2.0 and changed the token ticker from EPS to EPX. As part of this update, the original EPS tokens were migrated to EPX at a ratio of 1:88. This migration increased the total supply by 1.5 times.

Historical data for EPS shows that it has had fluctuations in price and trading volume over time. For instance, on June 12, 2024, the price of EPS was $0.02819789829 USD, with a 24-hour trading volume of $0.11 USD. The token's market capitalization and ranking have also varied, with a market cap of $22.63M and a ranking of #1057 among all known cryptocurrency assets as of June 2024.

The token's performance has been compared to its peers, with a price decline of -4.90% in the last 7 days, underperforming the global cryptocurrency market and similar BNB Chain Ecosystem cryptocurrencies. Additionally, EPS can be traded on various exchanges and has a fully diluted valuation (FDV) of BTC296.2216, assuming the maximum number of 1 billion EPS tokens are in circulation.

Overall, the history of Ellipsis (OLD) (EPS) reflects the evolution of the Ellipsis project, including its token migration and performance in the cryptocurrency market.

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How Ellipsis (OLD) works

Ellipsis, formerly known as Ellipsis (OLD) and represented by the token EPS, is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC). It is an authorized fork of Curve Finance, which means it inherits many of Curve's features and benefits from Curve's support. Here's how Ellipsis works:

Key Features
  1. Automated Market Maker (AMM) Model: Ellipsis uses the AMM model, which enables decentralized trading by using algorithms and smart contracts to determine the price of assets. This model allows users to contribute liquidity to the platform and earn incentives in the form of the native token, EPX.

  2. Liquidity Pools: Ellipsis has two types of liquidity pools: Base Pools and Metapools. Base Pools are designed for stablecoin trading, such as BUSD-USDC-USDT, while Metapools combine a Base Pool with an additional asset. These pools facilitate low-slippage stable swapping, ensuring that users can trade with minimal price impact.

  3. Revenue Earning Token: The EPX token is a revenue earning token, primarily benefiting liquidity providers and EPX stakers. They receive a portion of the trading fees on a 50-50 basis, incentivizing users to participate in the platform.

  1. Token Migration: Initially, the token was EPS, but it was renamed to EPX in March 2022. This migration aimed to enhance the token's functionality and improve the overall user experience.
How It Works
  1. User Participation: Users deposit tokens into the liquidity pools, which are then used to facilitate trading between stablecoins. In return, users earn EPX tokens as rewards.

  2. Trading Fees: When users trade on the platform, they incur fees, which are split 50-50 between liquidity providers and EPX stakers. This fee structure incentivizes users to contribute liquidity and stake EPX tokens.

  3. Governance: EPX token holders have a say in the future development of the platform through governance mechanisms, ensuring that the community has a voice in shaping Ellipsis's direction.

  1. Security and Transparency: Ellipsis prioritizes security and transparency, ensuring that users can trust the platform with their assets. The project's commitment to transparency and community engagement helps build a strong and supportive community.

Overall, Ellipsis aims to provide a seamless and secure experience for users, leveraging the speed and efficiency of the Binance Smart Chain to facilitate decentralized finance activities such as yield farming, staking, and trading.

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Ellipsis (OLD)'s strengths

The token Ellipsis (OLD) (EPS) has several strengths that contribute to its potential success:

  1. Authorized Fork of Curve Finance: Ellipsis is an authorized fork of Curve Finance, which means it inherits the features and support of Curve. This association gives Ellipsis a strong foundation and credibility in the decentralized finance (DeFi) space.

  2. Revenue Earning Token: The EPX token is designed to benefit liquidity providers and stakers. They receive a portion of the trading fees on a 50-50 basis, making it an attractive option for those contributing to the platform's liquidity.

  3. Low-Slippage Stable Swapping: Ellipsis focuses on providing stablecoin swaps with the lowest possible slippage. This is achieved through the use of two types of liquidity pools: base pools and metapools. This feature enhances the overall trading experience and efficiency.

  1. Strong Market Performance: Despite being a relatively new project, Ellipsis has shown significant market performance, with a market capitalization of $285 million, significantly higher than its competitor Belt Finance.

  2. Strong Community and Support: Ellipsis has a strong community and support from Curve Finance, which helps attract users and liquidity providers. The airdrop event for veCRV holders also helped to build a strong user base from the start.

These strengths position Ellipsis as a promising project in the DeFi space, particularly for those interested in stablecoin trading and liquidity provision.

Ellipsis (OLD)'s risks

Ellipsis (OLD) (EPS) carries several financial risks. These include:

  1. Smart Contract Risks: As with any liquidity provision on the blockchain, there are risks associated with smart contracts. Although Ellipsis' crypto pools have been audited by MixBytes and ChainSecurity, these audits do not completely eliminate risks.

  2. Impermanent Loss: Liquidity providers in Ellipsis crypto pools are exposed to impermanent loss, which occurs when the value of the assets in the pool changes, leading to potential losses.

  3. Market Volatility: The price of Ellipsis (EPS) is influenced by the overall state of the cryptocurrency market, which can be highly volatile. This volatility can lead to significant price fluctuations and potential losses.

  1. Liquidity Risks: The liquidity of Ellipsis (EPS) can impact its price and trading volume. If liquidity providers withdraw their assets, it can lead to reduced liquidity and increased price instability.

  2. Regulatory Risks: Changes in regulatory environments can affect the price and adoption of Ellipsis (EPS). If governments or regulatory bodies impose stricter regulations on cryptocurrencies, it could negatively impact the token's value.

  3. Competition Risks: Ellipsis (EPS) operates in a competitive market, and other decentralized exchanges or liquidity pools may offer better incentives or more efficient trading mechanisms, potentially drawing liquidity away from Ellipsis.

These risks highlight the importance of thorough research and careful consideration before investing in Ellipsis (OLD) (EPS) or any other cryptocurrency.

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Did Ellipsis (OLD) raise funds?

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Ellipsis (OLD)’s team

  • No named founders: Ellipsis, the decentralized exchange, does not have named founders.

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