EPS token is majorly used for Ellipsis Finance in governing purposes. The primary function of its native token is to generate yield for investors to stake and earn fees from the swapping platform. EPS can also be utilized when an investor locks TOKENS to the liquidity pools, allowing them a share of the profits in the EPS coin. Ellipsis finances this by deducting a trade fee every time a user exchanges one cryptocurrency for another. Furthermore, these fees are split in half between liquidity providers and EPS stakers.

However, the disadvantage is that the newly minted EPS rewarded to investors has a vesting period of 90 days. If stakers want to withdraw the tokens before this period ends, they will be charged 50% as an early exit penalty.

There is ample news from the platform this year, as Ellipsis Finance announced in April 2022 that it was upgrading to version 2.0 of the platform. Along with this update, the native token EPS will be migrated to a new token EPX, which was designed to be an improved version of EPS. Moreover, the platform unveiled new features for EPX, along with the existing functions of the original EPS token. Holders of the new token are able to have more presence in the Ellipsis Finance ecosystem. For example, tokens are rewarded with gauge voting, where holders decide the token rewards per liquidity pool. EPS holders were able to migrate their tokens to the new EPX upgrade on 23 May.