Ellipsis is a decentralized exchange focused on providing low slippage trades for stablecoins on the BNB chain.
Ellipsis is a decentralized exchange that is an authorized fork of Curve on BNB Chain. Ellipsis leverages the stableswap AMM algorithm which is a combination of the constant product (popularized by Uniswap) and constant sum formula. Trading occurs on a constant sum curve when the pool is relatively balanced and switches to a constant product curve when imbalanced. This allows for lower slippage and impermanent loss but is only applicable to similarly priced assets like stablecoins. The protocol charges a fee on every trade within a pool.
Ellipsis makes money through protocol fees that are currently set at 0.04% for swaps within stable or like-kind pools and range from 0.04% to 0.4% for volatile pools like BUSD-BNB. Half of the trading fees goes to liquidity providers and 50% to EPX token lockers (vlEPX).
You earn swap fees for providing liquidity on Ellipsis. Each pool also provides incentives in the form of native protocol tokens and the EPX token, which provides limited governance around pool incentives. You can lock EPX (vlEPX) on the platform to receive platform trading fees.