What is EPX token? Information about the Ellipsis Finance project and the EPX . token

• Overview of Ellipsis Finance (EPX)
• What is Ellipsis Finance (EPX)?
• How Ellipsis Finance (EPX) Works
• The main function of Ellipsis
• Project development team
• General information about the EPX . token
• What is EPX token?
• What is the EPX token used for?
• Detailed information about EPX . token
• EPX . Token Allocation
• How to earn and own EPX . tokens
• EPX . token exchange and storage wallet
• Similar projects
• Evaluating the potential of the Ellipsis Finance project. Should invest in EPX tokens?
• summary

In recent years, cryptocurrencies have become a trend. The turbulent year of 2021 has seen the birth of a series of prominent crypto projects. In the last March, the EPX token, a potential token, was launched in the market and received many positive reviews from users. So the EPX token has the potential as rumored? Let's find out with TraderH4! 

Overview of Ellipsis Finance (EPX)

What is Ellipsis Finance (EPX)? 

Officially launched in March 2021, Ellipsis Finance acts as a fork of Curve. During the operation, the Ellipsis Finance development team also received support from the Curve Finance team. They are committed to their core goal of building Curve Finance into an influential platform around the world. 

This will be a decentralized platform that eliminates costs such as deposit fees, withdrawal fees, etc. At the same time, you will not need to worry about liquidity keys or the exchange of this cryptocurrency. It works extremely stable, fast and highly efficient.

According to the information coming from the project, veCRV holders will receive 25% of the tokens released to the market weekly for the first one-year period.

Initially, the protocol supported swaps between BUSD, USDC and USDT. In the future, the project hopes to support more of these swap pairs.

How Ellipsis Finance (EPX) Works 

It can be said that Ellipsis Finance and Curve Finance have a lot of similarities. However, there are still differences between them.

Thanks to the AMM operating mechanism, the assets above Ellipsis Finance will not be allowed to trade in the order book form. So these transactions will be converted in a liquidity pool with smart contract formula with super low committed slippage.

Ellipsis Finance will execute its mission across liquidity pools and provide rewards to liquidity providers. When these transactions are executed, a certain amount of fees are deducted and they are divided among all participants providing liquidity. Specifically, this transaction fee will be divided as follows: 

• 50% is for providing liquidity to the very pool where this transaction takes place.
• The remaining 50% is for users who stake EPX tokens.

When you provide liquidity, you will be rewarded with a corresponding EPX. Payment will take place within 3 months. You may also receive the fee before this 3-month period. However, you will receive a penalty of up to more than 50%. This penalty will go to those who stake EPX tokens:

• 80% of this bonus will be distributed equally among the liquidity providers of the stablecoin pools.
• The remaining 20% ​​goes to the liquidity providers of the EPX/BNB pair. 

The main function of Ellipsis

• Browse: Works similar to an exchange, this is where NFTs are exchanged, bought and sold. It can be said that it works similar to today's e-commerce sites. 
• Activity: This function will allow users to look up the latest transaction activity in the history.
• Rankings: This is the NFT rankings. This is known as the place that provides users with the trading volume and price of each NFT sample. A special feature is that this information is constantly updated hourly, ensuring the most favorable price for buyers. 
• Blog: When you have any questions, you can contact here for timely answers. 
• Community: This community is a place where all participants can discuss.
• Create: Integrate for users to create NFTs and set up purchases with the same type of NFT created.
• Domain names: This system will provide secure domain names in the DeFi decentralized ecosystem .
• Virtual worlds: This is a virtual world built on the blockchain platform. Here, you can initiate and trade your crypto assets. 
• Trading cards: These cards will support transactions. At the same time, implement proprietary asset storage on the blockchain platform. It is built almost like a decentralized exchange. Here, users are allowed to buy and collect NFT items. 

Project development team 

Ellipsis Finance has grown so strongly thanks to the best support from Curve Finance's highly specialized team. However, for the security of information about the project, this team has not really announced its identity. However, according to TraderH4, the project is operating under a multi-signature administrator model. 

This model can be understood simply that the contracts of Ellipsis Finance will go through the censorship of 5 project members. Any contract to be valid requires the consent of at least 3/5 of these members. This will ensure transparency as well as avoid individualism, abuse of power, easy to cause negative actions to the project.

General information about the EPX . token

What is EPX token?

At the end of February 2022, according to the previous announcement, the EPS token was officially renamed to the EPX token. The EPX token is widely known as the token of the famous project Ellipsis Finance. This token is currently working on the Ethereum blockchain platform. According to information from the project, the initial supply of this token amounted to more than 1 billion EPX tokens. Similar to other cryptocurrencies, the EPX token also follows the ERC-20 standard.

What is the EPX token used for?

Mention EPX token a lot but do you know what it is used for? The EPX token has the following uses:

• Holders can stake according to the veCRV mechanism to vote on governance.
• Get transaction fees.

Detailed information about EPX . token

• Code: EPX
• Blockchain: BNB Chain
• Contract: Updating
• Token Type: Administration Token
• Total Supply: 132,000,000,000 EPX

EPX . Token Allocation 

These 132 billion EPX tokens are currently distributed as follows:

• 55% is a reward for those who provide liquidity, distributed continuously for 5 years.
• 25% for the veCRV Airdrop distributed weekly to token holders.
• The remaining 20% ​​is distributed over a year to the development team.

How to earn and own EPX . tokens

Token EPX is currently listed on 3 reputable exchanges such as: Binance, MEXC Global and Gate.io. If you already have an account at one of these exchanges, you can easily buy EPX tokens. 

EPX . token exchange and storage wallet

As a token that operates under the ERC-20 standard, the EPX token is fully compatible with wallets that support this standard from the Ethereum platform. You can keep an eye on MyEtherWallet wallets, MetaMask wallets… The way tokens are stored is the same as with all other cryptocurrencies.

Similar projects

Here are a few similar projects working in the field of AMM for stablecoins that you can completely refer to: 

• Cardano: Ardana
• Ethereum: Swerve, mStable…
• Binance Smart Chain: Nerve, Smoothy Finance, Belt Finance
• Solana: Saber, Mercurial
• Fantom: Froyo Finance

Evaluating the potential of the Ellipsis Finance project. Should invest in EPX tokens?

EPX token is an emerging star in the cryptocurrency market in 2021. Although it has just been launched in the market, in a short time (less than 1 year), this token has quickly conquered the top 400 cryptocurrencies with largest market capitalization. 

There was a time when this token reached a price of more than 21 USD. This is shocking news in the crypto market. However, that historic milestone quickly dropped sharply to only 0.5 USD. Therefore, you must carefully consider the dizzying volatility of this token before deciding to invest! 

summary

Above are TraderH4's shares about the EPX token. Hope you will have useful information about the Ellipsis Finance project as well as the EPX token. Good luck with your investment!

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