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Summary
- Ellipsis (EPS) coin debuted on Binance in March 2021.
- The coin has been witnessing wild gains while top cryptos such as Bitcoin & Ether continues volatile.
- Ellipsis’ total supply is capped at one billion coins.
Ellipsis (EPS) Finance completed its initial coin listing (IOC) on the Binance Smart Chain platform in March 2021. The Ellipsis team also developed a decentralized exchange (DEX) on Binance’s blockchain, which is similar to existing ones such as PancakeSwap and UniSwap and allow easy, cheap and trustless swapping of Free of charge (FOC) tokens.
With the help of Curve Finance team, an Ethereum-based DEX allowing swapping of stablecoins, Ellipsis developers have upgraded their exchange to charge zero deposit or withdrawal fees with no staking and pooling. Currently, it allows exchange of stable coins such as USDT (Tether), BUSD, USDC (digitalized US Dollar).
Let us check the utility of this two-month-old cryptocurrency. Ellipsis earns fees generated from a protocol, which manages liquidity pools for its market and provides incentives to its liquidity providers. It charges a fee of 0.04 per cent for every trade on its platform. Half of the trading fee goes to liquidity providers, and the remaining half is transferred to Ellipsis stakers.
Ellipsis (EPS) Token Projections
Ellipsis’ total supply is capped at one billion coins, which will be circulated over five years. It has a current supply of 295,403,424 tokens, and the total supply in circulation is 120,353,297 tokens. Its fully diluted market capitalization stands at nearly US$ 253 million.
It was trading at US$ 1.09 per token on Monday, May 31 (At 4:11 AM ET). It is up 53 per cent over the past one day. It has a current market cap of more than US$ 130 million, and its trading volume was US$ 91 million over the past 24 hours. EPS ranks at 303 out of 10,160 crypto tokens listed on the CoinMarketCap website.
EPS began trading on March 24, 2021, with its all-time high price of US$ 19.25 per coin and 24-hour trading volume of nearly US$ 14.20 million.
As per some analysts, rallying EPS coin could cross the US$2-mark by June, despite the overall crypto market’s ‘bull trap’. However, investors must exercise caution as another sharp dip in the crypto market could lead to major losses.
Source: Pixabay.com
Reward Pool and Staking Pool on Ellipsis Platform
EPS liquidity providers collect EPS rewards to hold its tokens for three months. Incentives can be earned before the end of the stipulated period, but early exit will cost a 50 per cent penalty.
These early exit penalty fees are transferred to the locked staking pool. The dedicated EPS holders will get a chance to receive the benefit quarterly.
The staking pool claims trading fees and the EPS penalty amount generated from investors who withdraw from the reward pool before three months. However, the staking pool has no compulsory lock-up period.
How to Buy Ellipsis?
Crypto investors can buy Ellipsis through the crypto exchanges like Binance, HitBTC, PancakeSwap, CoinDCX, and OpenOcean. Currently, the token has been witnessing a wild ride of gains. Meanwhile, the top crypto coins, such as Bitcoin and Ether, are trading in the red zone.
Please note: The above constitutes a preliminary view and any interest in cryptocurries or tokens should be evaluated further from an investment point of view.
