Author: William M. Peaster, Bankless; Translated by: Tao Zhu, Jinse Finance
During this cycle, two apps stood out in terms of gaining widespread traction: Polymarket on Polygon and Pump.fun on Solana.
Of course, as a prediction market, Polymarket has been riding the coattails of the conspiracy surrounding the 2024 U.S. presidential election cycle.
For its part, Pump.fun has positioned itself as the epicenter of the Solana memecoin space with its token launcher system, becoming the fastest-growing application by revenue in the history of cryptocurrency in the process.
Can Polymarket and Pump.fun maintain their current momentum into 2025 and beyond? That’s an open question. But a new project, Ethervista, is betting that a Pump.fun-like system on ethereum can move forward with some modifications.
Let’s quickly go over all the details on this new Ethereum token hub!
How does Ethervista work?
Ethervista is like a combination of an automated market maker (AMM) like Uniswap and a token launching platform like Pump.fun, but with some unique twists.
Unlike traditional Ethereum decentralized exchanges (DEXs) that charge fees in ERC-20 tokens, Ethervista implements a custom fee paid in ETH. The fee is distributed between liquidity providers and token creators to incentivize trading volume rather than short-term price action.
Ethervista uses a mathematical model based on "Euler Volume" to distribute its accrued ETH earnings to liquidity providers. Even if liquidity changes frequently, the system can achieve efficient reward distribution, thereby distributing to many users with the lowest gas cost.
The initial liquidity providers become creators, able to configure pool settings, fees, and on-chain metadata. Creators can permanently lock these settings to ensure transparency and security.
Creators can allocate the accrued ETH fees of their pool to a specific smart contract, which can be used for various DeFi applications such as token buybacks and burns or community treasury construction.
Unlike Pump.fun, which unlocks new projects based on a liquidity threshold ($63,000 market cap), Ethervista implements a 5-day liquidity lock period for new projects to account for the fact that most “rug pulls” occur within the first few days after a project launch.
The creators could also restrict token transactions to only Ethervista, making it more difficult for similar scams to defraud investors by limiting the ERC20 transferFrom function to the Ethervista router address.
What is VISTA?
VISTA is the native token of the Ethervista platform. Its supply is capped at 1 million tokens, with a built-in mechanism to reduce the circulating supply over time.
That is, every transaction on the Ethervista platform generates fees paid in ETH, part of which is used to purchase and destroy VISTA tokens. This continuous destruction process reduces the total supply while also aiming to gradually increase the price floor of the token, aiming to create a compound value effect.
At the time of writing, VISTA is trading at around $15 per token — currently down 44% from its initial peak of $27.60 — with a market cap of $15.6 million. Its deflation is already in full swing, as the protocol has destroyed over 23,000 VISTAs, bringing the current total supply to just under 977,000.
Explore the Ethervista Platform
1. Exchange
In the Exchange tab, you can trade ETH, VISTA, and more. In the Exchange Token section, select the token you want to exchange (e.g. ETH for VISTA or vice versa) and enter the desired amount. The interface also displays details such as your current balance. Once you set the amount, click the Exchange button to complete the transaction using your wallet.
2. Liquidity
In the Liquidity tab, you can manage your liquidity pools. To deploy liquidity, select the desired token and amount in the Liquidity Deployer section and click the Deploy button to complete the operation.
3. Launcher
In the Launcher tab, creators can configure and launch new pools. You can select the token pair you want to create a pool for and set the buy and sell fees in USD value. You also have the option to define a specified address where the accumulated fees will be sent. Once everything is set up, you can complete the configuration and launch the pool by clicking the Launch button.
4. Rewards interface
The Rewards tab allows you to track and claim earnings from your liquidity pool. You can view current rewards, historical rewards, and the current status of the pool. To claim your rewards, select the token you want to withdraw and click the Claim button.
What to focus on in the future?
There are some unanswered questions surrounding Ethervista, such as whether its smart contracts have been audited. There is also speculation on Crypto Twitter that the project’s creators have been selling VISTA, although this claim is currently unconfirmed—it could just be a fallen investor who found VISTA and cashed out early.
Also, there is the question that the first VISTA liquidity unlock will take place tomorrow, September 4th. Will the token sell off as liquidity enters the market? Will it be able to regain momentum and rebound afterwards?
The answers to these uncertainties remain to be seen. But it’s clear that there’s a huge demand for this kind of platform on Ethereum, as Ethervista has been one of the largest consumers of gas on the network since its launch as users flock to the new project.
In the meantime, let’s take a look at what’s next. Ethervista has announced plans to deploy on Ethereum Layer 2 (L2) and roll out upcoming features like ETH-BTC-USDC pools, lending, and flash loan. How will these advancements affect its adoption among more sophisticated traders?
Additionally, with its deflationary model, can VISTA continue to grow in value over time, or will memecoin’s continued slowdown ultimately limit the platform’s ability to attract new projects and users?
We’ll have to wait and see what happens next, but one thing is for sure – Ethervista has made some waves. Stay tuned, because this could just be the beginning.
