Overview

Ellipsis is an Automated Market Maker (AMM) designed for highly efficient swaps between pegged assets such as USDT, USDC, BUSD, or BTC derivatives like hBTC and renBTC. By bringing Curve Finance’s StableSwap algorithm to BNB Chain, the platform minimizes price deviations even in large-volume trades.

Team and Founders

The project maintains a decentralized structure, so details on the team are limited. However, it is known to be supported by experienced BNB Chain developers and inspired by Curve Finance.

• Founders: Not publicly disclosed, experienced DeFi and BNB Chain teams
• Advisors/Partners: Strategic partnerships with BNB Chain projects and liquidity providers

Project Idea and Vision

Ellipsis uses the StableSwap algorithm to enable highly efficient swaps between pegged assets. Users can trade, stake assets for yield, or provide liquidity to earn fees. The platform ensures liquidity remains consistently high through EPX incentives.

Investors and Key Partners

Curve Finance is the main supporter, providing technical support and governance guidance. Close ties with Binance ecosystem strengthen Ellipsis as a leading DEX on BNB Chain.

How It Works

• StableSwap Algorithm: Optimized for closely valued assets rather than classical AMM formula ($x · y = k$).

• Liquidity Provision: Users deposit tokens into pools to earn LP tokens and fees.

• Low Slippage: Algorithm ensures near 1:1 price stability for stablecoins.

• V2 Upgrade: EPS tokens replaced with EPX in 2022, introducing bribe and governance mechanics.

Benefits for Other Projects

Ellipsis allows projects to create deep liquidity pools. Example: the USDD pool achieved $50M liquidity in the first week with EPX and USDD rewards. Projects can lock EPX to redirect emissions, encouraging more stablecoin deposits, easier trading, and a flywheel effect for governance and rewards.

Ellipsis also supports derivative token pools like ANKR’s aBNBb<>BNB or dotdot.finance’s dEPX<>EPX. Partnerships such as with Valas.finance enhance capital efficiency and ecosystem synergy.

Governance

Governance uses veEPX (vote-escrowed EPX):

• Decide which pools receive more EPX rewards (Gauge votes)

• Vote on protocol parameters

• Receive a share of protocol revenue

Roadmap

• Expand to crypto-to-crypto pools

• Fully decentralized governance

• Potential expansion beyond BNB Chain

EPX Token Uses

• Liquidity Mining: Incentives for LPs

• Staking & Locking: Obtain veEPX

• Fee Discounts: Access protocol benefits

• Voting Power: Influence protocol decisions

Token Information

• Total Supply: 723.7M EPS

• Max Supply: 1B EPS

• Circulating Supply: 723.7M EPS

Distribution

• Liquidity Providers: Majority, distributed long-term

• veCRV Holders: Initial airdrop to Curve holders

• Team & Development: Small allocation

Weekly EPX Rewards Distribution

• 3EPS Pool: 61.4%

• TUSD Pool: 11.8%

• DAI Pool: 10.9%

• BNBL Pool: 7.1%

• USDL Pool: 4.7%

• ANKR Pool: 4.2%

Gauge Voting: veEPX holders vote weekly on reward allocation. 55% of total supply is scheduled for LP incentives over 5 years.

Ecosystem and Features

• Preferred by professional traders for high-volume stablecoin swaps

• Bribe system allows projects to boost pool rewards

• Built on Curve codebase, audited and secure

• High capital efficiency: small liquidity, large trades

Official Links

• Website
• Twitter
• Telegram

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The post What is Ellipsis (EPS)? appeared first on Coin Engineer.

In a post on X, Binance Chain stated: 

“The Maxwell upgrade is live on the testnet, inviting developers for early testing!” 

Former Binance CEO Changpeng Zhao (CZ) emphasized the update’s potential on X, saying, “Lower fees, faster transactions coming soon.” This upgrade aims to support growth in decentralized finance (DeFi), gaming finance (GameFi), and enterprise blockchain services. The testnet phase’s success suggests a smooth mainnet transition, though no specific date has been announced. Developers and validators are encouraged to test the new features. 

BNB Chain’s Leadership in Transaction Volume 

Additionally, BNB Chain outperforms other blockchains in transaction activity. According to Nansen’s on-chain data, weekly transaction volume surged by 49%, placing BNB Chain ahead of competitors like Aptos, NEAR Protocol, Stellar, and Sonic Labs. In the last 30 days, BNB Chain DEX protocols recorded over $100 billion in transaction volume, surpassing Ethereum’s $67 billion and Solana’s $97 billion in the same period. Furthermore, VanEck’s tokenized US Treasury fund VBILL launched on BNB Chain, strengthening its enterprise adoption. World Liberty Finance’s USD1 stablecoin also expanded integrations with exchanges and wallets, boosting liquidity. These developments accelerate BNB Chain’s adoption in DeFi and other sectors, contributing to ecosystem growth. 

BNB Price Analysis 

Moreover, Binance coin price shows strong bullish potential based on technical analysis. According to crypto analyst Cryptorand, BNB is currently trading at $660, a 13% increase from this month’s low. The price broke above a long-term descending trendline that had acted as resistance since December 2024. Key support lies at $600-$620, with resistance at $690-$730. Analysts predict that if BNB holds above $660, it could test $720. However, a drop below $660 could see the price retreat to $620, or in a more bearish scenario, to $515-$530. These levels are critical for investors to monitor. 

The Maxwell Hard Fork strengthens BNB Chain’s speed and scalability, bolstering the ecosystem. The 49% surge in transaction volume and new asset integrations solidify its leadership position. According to analysts BNB’s price carries potential to reach $720, but the $660 support level will be decisive. 

***NOT INVESTMENT ADVICE*** 

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The post BNB Chain Maxwell Hard Fork Live: Is $720 Near?  appeared first on Coin Engineer.