EPS is Ellipsis' BEP-20 native utility token and is used in the following functions:
Liquidity Provider Rewards: Users can earn EPS tokens as rewards when they deposit LP tokens into the rewards contract. Rewarded EPS allows users a claim on the platform’s trading fees and is vested over 3 months. Alternatively, users can claim their EPS before the end of their lock-up but with a 50% early exit penalty.
Staking Rewards: Users can earn rewards by staking EPS tokens. The staking pool receives trading fees as well as the EPS penalty revenue from EPS holders who exit the reward pool early. The staking pool has no mandatory lock-up.
Trading Fees: Once users have a balance of EPS within the fee distribution contract, they will begin receiving a portion of the trading fees generated by the protocol. Trading fees are split evenly (50/50) between liquidity providers and EPS stakers.
Airdrop Rewards: Ellipsis will be airdropping 25% of the total supply of EPS (250 million tokens) to members of the Curve DAO based on their veCRV balances.
The protocol initially supports swaps between BUSD, USDC and USDT. More pairs will be considered in the near future.
More details of the EPS token allocation can be found here.
As at April 2nd 2021, the total supply of EPS is 1,000,000,000 and the current circulating supply is ~2.38%.