Similar to the popular 3EPS pool, the val3EPS pool contains BUSD, USDC and USDT. Tokens that are deposited into the val3EPS pool are also deposited into Valas Finance. This means that that in addition to swap fees, liquidity providers also earn lending fees and VALAS incentives.
We are excited about this partnership as it allows Ellipsis LPs to earn extra money and ensures greater available liquidity for Valas borrowers. We look forward to exploring more ways to collaborate, and growing our protocols together in the future.
As part of our efforts to improve transparency, the Ellipsis team has secured a first audit with Hacken.
As this report highlighted the admin of the rewards contract could potentially direct the EPS rewards to themselves, we have put the admin into a multisig with the following people: Michael (Curve Finance Founder), Ben (Curve Finance CTO), banteg (Yearn lead dev), Alex (Ellipsis co-founder), James (Ellipsis co-founder).
This step means the issue reported has been mitigated. Ellipsis contracts are not upgradeable as we chose to adhere to Curve’s highest standards of blockchain development and decentralization. This means the Ellipsis team never has access to any of users’ funds.