Ellipsis (EPX) is a decentralized exchange (DEX) token based on the Binance Smart Chain (BSC). It allows users to deposit tokens into liquidity pools in exchange for rewards and facilitates stablecoin swaps with low slippage and minimal fees. The EPX token is used for governance, liquidity mining, and reducing transaction fees, and its holders can participate in voting, boosting, and receiving trading fees.
Ellipsis (EPX) is the native token for Ellipsis, a decentralized exchange (DEX) on the BNB Smart Chain. The main uses of EPX are:
Reward for Liquidity Providers: EPX is used to incentivize liquidity providers who deposit tokens into Ellipsis pools. These providers earn trading fees and possibly EPX rewards.
Voting on Pool Incentives: EPX holders can participate in governance by voting on pool incentives and eligibility for liquidity providers.
Locking for Platform Fees: EPX can be locked to receive trading fees from the Ellipsis protocol. These fees are collected over a week and paid out the following week, proportionally to the amount of locked EPX (vlEPX) held.
- Boosting Liquidity Provider Rewards: Locking EPX allows users to earn a boost of up to 2.5 times on the liquidity they are providing on Ellipsis.
These uses are crucial for maintaining the liquidity and functionality of the Ellipsis DEX.
To store Ellipsis X (EPX) tokens securely, it is recommended to use a hardware wallet, which is the most secure option. Hardware wallets are offline and store your crypto keys securely. They come with a seed phrase that acts as a key to unlock the wallet and transfer contents between devices. It is advisable to store the seed phrase in a physical form, such as metal seed phrase storage solutions, to protect it from loss or destruction.
Alternatively, you can use software wallets, also known as hot wallets or digital wallets, which are connected to the internet and less secure. Some popular options include:
Coin98 Wallet: You can store EPX tokens on Coin98 Wallet by following these steps:
- Open Coin98 Wallet and click "Receive" on the home screen.
- Search for the EPX token.
- Click on the correct result, copy the wallet address, and send EPX to this address.
CoinSpot: CoinSpot provides a flexible Multicoin Wallet where you can store your Ellipsis X tokens for free. You can also use a cold storage wallet and send your coins there from your CoinSpot account.
Official Coin Wallet: You can also store EPX tokens on the official coin wallet, which supports BNB Coin.
Remember to always prioritize security when storing your cryptocurrencies.
To buy Ellipsis X (EPX) tokens, follow these steps:
Choose a Crypto Exchange: Select a reputable exchange that supports Ellipsis X trading, such as Binance, KuCoin, CoinEx, gate.io, or MEXC. Ensure the exchange operates in your country and consider factors like fees, security, and user reviews.
Create an Account: Register on the exchange's website or mobile app, providing personal information and identity verification documents as required.
Fund Your Account: Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card.
Navigate to the Ellipsis X Market: Search for "Ellipsis X" (EPX) in the exchange's marketplace.
Choose a Transaction Amount: Enter the desired amount of Ellipsis X you wish to purchase.
Confirm Purchase: Preview the transaction details and confirm your purchase by clicking the "Buy EPX" or equivalent button.
- Transfer to a Hardware Wallet: For security reasons, it is recommended to transfer your purchased EPX tokens to a hardware wallet like Ledger or Trezor.
Remember to research and compare fees, security features, and supported currencies before choosing an exchange, as there are considerable differences between each one.
