April 2, 2021: Ellipsis Turns 1 Week 🎂🧧
Curve's BSC fork locks $2B in value after massive airdrop
Ellipsis, the benevolent BSC Curve clone, just turned one week old. In DeFi years, this is a ripe old age… unlicensed bootlegs like Swerve and Saddle are already out to pasture for all intents and purposes.
Excitement has only grown in this past week. The Ellipsis airdrop may be the largest since the block of genesis:
We wanted to take the temperature of how users were handling this. It’s a question on a lot of people’s minds. Witness the discussion over at Yearn, which has opted to stake:
Most degens see it as playing with their winnings.
We’re currently conducting a poll to get a sense, and right now staking is winning by a large margin.
At the moment, two thirds of users are claiming the drop and staking it back in Ellipsis. Though we expect the number of “Ignore it” users may be less inclined to answer a Twitter poll on the subject. Indeed, it looks as if about a third of the first two airdrops remain unclaimed.
The majority who chose the immediate restake option are seeing absurdly high rewards at the moment. We know money is primarily a social construct, but yegads.
Of course, Ellipsis is still in its big bang phase where the total heat temperature of its universe is still large enough to create stars. Total volume locked continues to soar, currently sitting at $2.3 billion (nearly half of its predecessor Curve) and 13th on the DefiLlama lleaderboard:
Within just the BSC universe, it’s claimed the bronze position.
Ellipsis also got selected to be part of Binance’s Innovation Zone, which we assume is great news but we can’t really tell because Binance is prohibited here in the land of the free.
We’re old enough to remember last month when degens wouldn’t be caught dead hanging around BSC. Now we’re just over 4x to go before $BNB flippens $ETH.
For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a Curve maximalist, but one of the people staying poor with no position in Ellipsis.