Ellipsis (EPX) is an authorized fork of Curve.Fi. Its 1.0 version has been providing BNB Chain users with Curve's stablecoin swap protocol, while the 2.0 version aims to expand Curve's functionalities within the Ellipsis ecosystem.
EPX token holders can lock their tokens to gain voting weight, which they can use to:
- Vote on reward distributions across liquidity pools
- Directly allocate rewards to specific pools
- Boost their liquidity provider APR based on locked amounts
👉 Discover how EPX rewards work
Understanding Ellipsis Finance
Ellipsis Finance is an AMM-based decentralized exchange (DEX) within the Binance Smart Chain (BSC) ecosystem, specializing in stablecoin trading (BUSD, USDC, USDT, DAI). Launched in March 2021 with official backing from Curve Finance, it maintains Curve's core values while operating as a non-custodial platform where developers cannot access user assets.
Key features include:
- Licensed fork status from Curve Finance
- Native support for BUSD/USDC/USDT trading pairs
- Governance through EPX token locking
How Ellipsis Works
Ellipsis employs an automated market maker (AMM) model with these operational mechanics:
- Low-Slippage Swaps: Assets are traded through liquidity pools using mathematical formulas that minimize price impact
Fee Structure:
- 50% of fees go to liquidity providers
- Remaining 50% allocated to EPX stakers
- Liquidity Mining: Providers earn rewards from transaction fees and protocol incentives
EPX Tokenomics
The platform transitioned from EPS to EPX tokens on March 31, with migration terms:
- 1 EPS → 88 EPX
- Initial lockup period post-migration
Governance functions include:
- Weekly voting on reward distribution
- Quarterly EPX reward allocations based on governance votes
- Initial support for BUSD/USDC/USDT (EPS 3pool)
Key Advantages
- Curve-approved protocol security
- Binance Smart Chain efficiency
- Stablecoin-focused liquidity pools
FAQ
Q: How does EPX differ from Curve's CRV token?
A: While both govern similar protocols, EPX operates on BSC with faster transactions and lower fees compared to Ethereum-based CRV.
Q: What's the minimum lock period for EPX?
A: The protocol currently doesn't enforce lock periods, but longer commitments yield higher APR boosts.
Q: Can I provide liquidity with non-stablecoin assets?
A: Ellipsis specializes in stablecoin pairs, though future versions may expand to other asset classes.
Q: Where can I track EPX price movements?
A: Major cryptocurrency data platforms like CoinMarketCap and CoinGecko list real-time EPX metrics.
Q: How often are governance votes held?
A: Voting occurs weekly for reward distributions, with major protocol upgrades requiring separate proposals.