Team is private
Ellipsis is a decentralized application founded in 2021. The project team is private. In the decentralized finance space, this project has passed 1 audit. It has not been involved in any incidents. Ellipsis runs on top of the Binance blockchain for fast and secure transactions with crypto assets. The project has its platform token called Ellipsis [OLD]. The trading volume for 24 hours is $163,380.
Users have the ability to contribute their cryptocurrencies to pools which can then be accessed by other users, where providers earn interest on the assets that they bring in. The DeFi Watch platform can be used as a tracker to find the best project pool with high swap fees and yield farming rewards. More details about Ellipsis are available at www.ellipsis.finance.
Ellipsis is an exchange for stablecoins that's on top of the Binance Smart Chain and allows for stablecoin swap with low slippage as well as minimal fees. Ellipsis follows the automated market maker (AMM) model, which enables decentralized trading by using algorithms and smart contracts to determine the prices of the assets. The EPS token is the native cryptocurrency token on the platform that provides value for the LPs and token holders, and it is a revenue-earning token where stakers can earn fees from the Ellipsis Protocol. Liquidity providers receive their EPS from the reward pool.
All of the Ellipsis contracts are controlled by a 3 of 5 Gnosis Safe Multisig. This includes the two Ellipsis founders, as well as two Members of Curve Finance and one of Yearn. These include Michael, the founder of Curve Finance, Ben the CTO of Curve Finance, banteg, the lead developer at Yearn; Alex, Ellipsis co-founder and James, Ellipsis's other co-founder. This is all done in an effort to improve the overall transparency and make up the larger part of the Ellipsis team.
Ellipsis works by taking advantage of two types of liquidity pools, base pools, and metapools. Base pools include 3Pool, which has BUSD, USDC, or USDT. Metapools allow one token to be swapped to any other of the tokens in 3Pool. A metapool can be DAI - 3Pool. Lucidity providers need to deposit DAI into the pool, and users are able to swap from DAI to any other token in the 3Pool. Liquidity providers receive EPS as a reward, and the rewarded EPS tokens come from the protocol's trading fees and are vested over the span of three months.