1. Project introduction

Ellipsis is an automated market maker (AMM) or exchange that allows users and other decentralized protocols to trade between different stablecoins with very low slippage compared to other AMM solutions.

Ellipsis.finance is an authorized fork of Curve.fi. Version 1.0 has been providing Curve’s StableSwap protocol to users on the BNB chain. Version 2.0 will bring other dimensions of Curve to Ellipsis:

(1) Reward gauge voting

(2) Reward weight voting

(3) Reward boost Token holders will be able to lock their tokens for vote weight, and use that weight to vote on adding rewards to pools, and on which pool they would like to direct rewards. A user’s locked tokens will also determine the level of APR boost to apply to their Liquidity Providing rewards.

2. Application and distribution

The EPS token will be migrating to a new token, EPX. The EPX token will have some changes from EPS:

(1) Relative total supply will increase 1.5x (from 1B to 1.5B).

(2) Absolute total supply will increase 88x, to 132B tokens (88x the new relative total supply, or 1.5B * 88).

Users will receive 88 EPX tokens for each EPS token they migrate. The EPX token can be locked for up to one year, allowing users to:

(1) Vote on EPX pool incentives for liquidity providers

(2) Receive boosted yields as an LP

(3) Receive platform fees

(4) Vote on eligibility of pools to receive incentives