Ellipsis X

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Discover Ellipsis X'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 X?

Ellipsis (EPX) is a decentralized exchange (DEX) token based on the Binance Smart Chain (BSC). It allows users to deposit tokens into liquidity pools in exchange for rewards and facilitates stablecoin swaps with low slippage and minimal fees. The EPX token is used for governance, liquidity mining, and reducing transaction fees, and its holders can participate in voting, boosting, and receiving trading fees.

How is Ellipsis X used?

Ellipsis (EPX) is the native token for Ellipsis, a decentralized exchange (DEX) on the BNB Smart Chain. The main uses of EPX are:

  1. Reward for Liquidity Providers: EPX is used to incentivize liquidity providers who deposit tokens into Ellipsis pools. These providers earn trading fees and possibly EPX rewards.

  2. Voting on Pool Incentives: EPX holders can participate in governance by voting on pool incentives and eligibility for liquidity providers.

  3. Locking for Platform Fees: EPX can be locked to receive trading fees from the Ellipsis protocol. These fees are collected over a week and paid out the following week, proportionally to the amount of locked EPX (vlEPX) held.

  1. Boosting Liquidity Provider Rewards: Locking EPX allows users to earn a boost of up to 2.5 times on the liquidity they are providing on Ellipsis.

These uses are crucial for maintaining the liquidity and functionality of the Ellipsis DEX.

How do I store Ellipsis X?

To store Ellipsis X (EPX) tokens securely, it is recommended to use a hardware wallet, which is the most secure option. Hardware wallets are offline and store your crypto keys securely. They come with a seed phrase that acts as a key to unlock the wallet and transfer contents between devices. It is advisable to store the seed phrase in a physical form, such as metal seed phrase storage solutions, to protect it from loss or destruction.

Alternatively, you can use software wallets, also known as hot wallets or digital wallets, which are connected to the internet and less secure. Some popular options include:

  • Coin98 Wallet: You can store EPX tokens on Coin98 Wallet by following these steps:

    1. Open Coin98 Wallet and click "Receive" on the home screen.
    2. Search for the EPX token.
    3. Click on the correct result, copy the wallet address, and send EPX to this address.
  • CoinSpot: CoinSpot provides a flexible Multicoin Wallet where you can store your Ellipsis X tokens for free. You can also use a cold storage wallet and send your coins there from your CoinSpot account.

  • Official Coin Wallet: You can also store EPX tokens on the official coin wallet, which supports BNB Coin.

Remember to always prioritize security when storing your cryptocurrencies.

How to buy Ellipsis X?

To buy Ellipsis X (EPX) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reputable exchange that supports Ellipsis X trading, such as Binance, KuCoin, CoinEx, gate.io, or MEXC. Ensure the exchange operates in your country and consider factors like fees, security, and user reviews.

  2. Create an Account: Register on the exchange's website or mobile app, providing personal information and identity verification documents as required.

  3. Fund Your Account: Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card.

  1. Navigate to the Ellipsis X Market: Search for "Ellipsis X" (EPX) in the exchange's marketplace.

  2. Choose a Transaction Amount: Enter the desired amount of Ellipsis X you wish to purchase.

  3. Confirm Purchase: Preview the transaction details and confirm your purchase by clicking the "Buy EPX" or equivalent button.

  1. Transfer to a Hardware Wallet: For security reasons, it is recommended to transfer your purchased EPX tokens to a hardware wallet like Ledger or Trezor.

Remember to research and compare fees, security features, and supported currencies before choosing an exchange, as there are considerable differences between each one.

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History of Ellipsis X

Ellipsis X (EPX) is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC). It allows for the swapping of stablecoins with low slippage and minimal fees. The project is an authorized fork of Curve, a well-established DEX platform.

Early History and Token Migration

Ellipsis X was initially launched with the token ticker EPS. On March 18th, 2022, the project released version 2.0, which included a token migration from EPS to EPX. This migration occurred at a ratio of 1:88, effectively increasing the total supply by 1.5 times.

Token Utilities and Governance

The EPX token serves several purposes within the Ellipsis ecosystem. Users can lock EPX to receive vlEPX, which grants them various benefits:

  1. Fee Distribution: Trading fees on the platform are distributed proportionally to vlEPX holders.
  2. Boosting: vlEPX holders can earn up to a 2.5x boost on the liquidity they provide.
  3. Voting: vlEPX holders participate in limited governance, such as managing pool incentives.
Pool Structure

Ellipsis consists of three types of pools:

  1. Base Pools: These pools are the foundation of the system, with two main pools: the 3EPS pool (BUSD, USDC, and USDT) and the btcEPS pool (renBTC and wBTC).
  2. Meta Pools: These pools allow for seamless trading between tokens using a base pool as the underlying asset.
  3. Factory Pools: These are permissionless pools that can be created by anyone.
Price History and Market Performance

Ellipsis X has experienced significant price fluctuations since its inception. The token initially peaked at an all-time high of $21.29 in March 2021 but later declined. It recovered somewhat in early April 2021, reaching highs of over $6.90. However, the token's value continued to drop, eventually closing the year 2021 at $0.2616.

In recent times, the token's price has stabilized, with a current market capitalization of $108.78 million and a circulating supply of 698.45 million EPX.

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How Ellipsis X works

Ellipsis X (EPX) is a decentralized exchange (DEX) that operates on the BNB Smart Chain (BEP20) platform. It allows users to swap stablecoins with low slippage and minimal fees. Here's how it works:

Token and Utilities
  • EPX Token: The native token of Ellipsis, which is used for various utilities within the platform.
  • vlEPX: Users can lock EPX to receive vlEPX, which provides additional benefits.
Utilities of vlEPX
  • Trading Fees: Trading fees on the platform are paid out proportionately to the amount of vlEPX each user holds.
  • 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 limited governance on Ellipsis, such as managing pool incentives.
Components of Ellipsis
  • Base Pools: Two base pools exist: the 3EPS pool (BUSD, USDC, and USDT) and the btcEPS pool (renBTC and wBTC).
  • Meta Pools: These pools allow for one token to trade with another token using a base pool as the underlying.
  • Factory Pools: Permissionless pools that can be created by anyone.
Token Allocation and Supply
  • Maximum Supply: The maximum supply of EPX is 132,000,000,000.
  • Circulating Supply: The circulating supply of EPX is 73,314,533,149.
Trading and Storage
  • Exchanges: EPX can be traded on centralized exchanges like Binance, TokoCrypto, and BingX.
  • Storage: Users can store EPX in their KuCoin account or in non-custodial wallets like hardware wallets, Web3 wallets, or paper wallets.
Additional Features
  • Staking and Lending: Users can earn passive income by staking or lending EPX on platforms like KuCoin.
  • Governance: vlEPX holders can participate in governance decisions on Ellipsis.

Overall, Ellipsis X (EPX) provides a decentralized platform for stablecoin swaps with low fees and slippage, while also offering various utilities and benefits to its users.

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Ellipsis X's strengths

The token Ellipsis (EPX) has several strengths that contribute to its potential success and value in the cryptocurrency market:

  1. Revenue Earning Token: EPX is designed to benefit liquidity providers and stakers, offering them a portion of the trading fees on a 50-50 basis. This incentivizes users to contribute to the platform, increasing liquidity and trading volume.

  2. Low Slippage Swapping: As a fork of Curve Finance, Ellipsis aims to provide stablecoin swapping with the lowest slippage possible. This is achieved through the use of base pools and metapools, which focus on a few main pools to increase liquidity and avoid sharding.

  3. High Efficiency: Ellipsis ensures high efficiency by eliminating deposit and withdrawal fees and liquidity lockups. This makes it more attractive to users and liquidity providers, leading to increased adoption and trading activity.

  1. Strong Technical Indicators: Technical analysis suggests that Ellipsis is trending bullish on the four-hour and one-day time frames, with the 50-day and 200-day moving averages sloping up. This indicates a strong trend and potential for further price growth.

  2. Positive Fundamentals: Analysts point to positive fundamentals and market technicals supporting the Ellipsis price uptrend. This includes the potential for further growth and a well-supported price trend.

  3. Decentralized Trading: As an Automated Market Maker (AMM) model, Ellipsis enables decentralized trading through algorithms and smart contracts. This allows for secure and efficient trading within liquidity pools, benefiting users and liquidity providers alike.

These strengths position Ellipsis as a promising project in the decentralized exchange (DEX) space, with a focus on efficiency, liquidity, and user benefits.

Ellipsis X's risks

Ellipsis X (EPX) carries several financial risks that investors should be aware of before making an investment decision. Here are some key points to consider:

  1. Risk Analysis: According to InvestorsObserver, EPX has been classified as a moderate risk investment, indicating that it can be manipulated by market forces and is susceptible to price volatility.

  2. Price Fluctuations: The value of EPX can fluctuate significantly over short periods, as seen in the past. This volatility can lead to losses if investors are not prepared to hold their assets through market downturns.

  3. Market Cap and Trading Volume: The market capitalization and trading volume of EPX can impact its liquidity and stability. If the market cap is low and trading volume is limited, it can be challenging to buy or sell the token quickly, which can further exacerbate price fluctuations.

  1. Risk/Reward Score: InvestorsObserver has given EPX a low Risk/Reward Score, indicating that the potential returns may not justify the level of risk involved in investing in this token.

  2. Manipulation: The risk gauge rank for EPX suggests that it can be manipulated by market forces, which can lead to sudden and significant price changes.

  3. Liquidity Risks: If liquidity providers do not participate in the Ellipsis protocol, the token's value could be negatively impacted, leading to losses for investors.

  1. Governance Risks: The voting mechanism for EPX holders can influence the direction of the project. If the governance process is not transparent or if a small group of holders dominate the voting, it can lead to decisions that may not be in the best interests of all investors.

  2. Regulatory Risks: Cryptocurrencies are subject to changing regulatory environments, which can impact the legality and viability of EPX. If regulatory changes are unfavorable, it could negatively affect the token's value.

It is essential for investors to carefully evaluate these risks and consider their own risk tolerance before deciding to invest in EPX.

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Did Ellipsis X raise funds?

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Ellipsis X’s team

  • Team Behind Ellipsis (EPX): The team behind Ellipsis (EPX) is managed by a group of seasoned experts, ensuring the platform is built on a solid foundation. However, the founders of Ellipsis remain anonymous, which is common in the decentralized exchange (DEX) industry.

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