What is ELLIPSE(ELLIPSE)?

What Is Ellipse (ELLIPSE)? Ellipse is a platform on Arc. It combines three products: a bridge that brings assets from other chains to Arc, a token launchpad, and a swap interface for the markets created there. ELLIPSE is the platform token. How Does the Ellipse Bridge Work? The bridge supports four assets. GLD and CRCL come from Robinhood Chain, while BTCB and USDT come from BNB Smart Chain. When a user deposits one of them, the original tokens stay locked in a custody vault on the origin chain and a claim token is minted on Arc: bGLD, bCRCL, bBTCB or bUSDT. A redemption burns the claim on Arc and releases the original asset. How Does the Launchpad Work? Anyone can create a token through the launchpad. Every launch has a fixed supply of 1,000,000,000 tokens, and the creator chooses the pair: one of the bridged assets or ELLIPSE. The creator does not provide the quote side of the pool. The full supply goes into a single liquidity position that starts at the opening price, and that liquidity cannot be withdrawn. Trades pay a 1% fee. At launch the creator picks one of two splits, which cannot be changed later: 50% to the creator and 50% to the treasury, or 30% to the creator, 30% to the treasury and 40% to token holders. The current launchpad version runs on Uniswap v4 with a hook that charges a higher fee during the first eight blocks after a launch, starting at 95% and stepping down to 1%, to reduce sniping. What Is ELLIPSE Used For? ELLIPSE was itself launched through the platform's launchpad, paired with bCRCL in a Uniswap v3 pool whose liquidity position is locked. Holder rewards are enabled for the token. On later launchpad versions ELLIPSE also serves as a quote asset, so new tokens can be launched and traded against it.