What is Ellipsis Finance? Ellipsis Finance (EPS) is a blockchain project that offers various services such as decentralized finance (DeFi) and stablecoin exchange. In this article, you can find answers to frequently asked questions such as what is Ellipsis Finance, what it offers, what is EPS coin, how to get it, what is it used for. As Kriptokoin.com, we have compiled it for you. Let’s examine the project together.
What is Ellipsis Finance?
Ellipsis Finance is a Blockchain project powered by the Curve Finance blockchain. The project is a platform that includes decentralized financial services and stable coin exchange. The platform offers its users the advantage of performing free transactions thanks to Curve Finance. Users can perform transactions such as withdrawals, deposits and staking completely free of charge through the platform. The native cryptocurrency of the platform is EPS. EPS coin stands out for various use cases within the network.
Users can earn passive income through the platform’s staking, liquidity prize pool and staking pool. The platform splits the token rewards equally for each mentioned domain. Through the project, users can trade stablecoins for free with a very low deviation.
What is EPS coin? What is it used for?
EPS coin is a token that works as the native cryptocurrency of the Ellipsis Finance platform. The token was created with the BEP-20 smart contract. The team behind the coin has capped the token’s maximum supply to 1 billion units. EPS is used for various exchange and DeFi transactions within the network. The most important use case of EPS coin is staking. EPS holders can earn passive income by staking their assets in the platform’s staking pool or liquidity reward pool.
Staking means locking an asset into smart contracts with a certain maturity. Users who lock their assets with this method will earn additional token rewards at maturity. In Ellipsis, token rewards are given as stable coins. In addition, EPS holders can access the platform that serves as a stable coin exchange and trade these coins for free. With a market cap of around $177 million at the time of writing, EPS coin was the 286th largest cryptocurrency. In addition, 723 million EPS were in circulation, corresponding to 72% of the token’s maximum supply.
What are the advantages?
- Ellipsis Finance allows users to make staking through its in-house pools. EPS holders can earn stablecoin rewards by locking their holdings.
- On the stable coin exchange, users can trade many stable coins that have taken place in the market.
- EPS coin holders do not pay transaction fees for transactions they perform on the platform.
- The scalability of the Ellipsis platform is quite high. Even cross-border cryptocurrency transfers happen within minutes.
What are the disadvantages?
- The platform, which offers users the opportunity to earn stable coins through staking, does not include other DeFi services.
- Although stable coin trading gives investors confidence against the volatility of the cryptocurrency market, the mostly stable price can make the earnings pale.
- Storage of EPS in virtual wallets increases the likelihood of cyber attacks. This disadvantage can be solved by keeping the assets in a hardware wallet.
How to get EPS coins?
To purchase EPS coin, it is necessary to be a member of a cryptocurrency exchange where the token is listed. Among the exchanges that list EPS, Binance, KuCoin, Crypto.com, Gate.io and Phemex stand out. Investors interested in the Ellipsis Finance project can acquire the token by signing up for one of these exchanges and depositing money in their wallets.
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