Ethervista: Ethereum’s new token launcher DEX

Author: William M. Peaster, Bankless; Translator: Tao Zhu, Golden Finance

Two applications have stood out in terms of gaining widespread attention during this cycle: Polymarket on Polygon and Pump.fun on Solana.

Of course, as a prediction market, Polymarket has been riding the coattails of the intrigue surrounding the 2024 U.S. presidential election cycle.

For its part, Pump.fun has positioned itself as the center of the Solana memecoin space with its token launcher system, and in the process has become the fastest-growing application in terms of revenue in cryptocurrency history.

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 info 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 a few unique twists.

• Unlike traditional Ethereum decentralized exchanges (DEXs) that charge fees in ERC-20 tokens, Ethervista implements a custom fee payable in ETH. This fee is split between liquidity providers and token creators to incentivize trading volume rather than short-term price action.

• Ethervista distributes its accrued ETH earnings to liquidity providers using a mathematical model based on the “Euler Volume”. This system enables efficient reward distribution even when liquidity changes frequently, distributing to many users at minimal gas costs.

• The initial liquidity providers become creators, with the ability to configure pool settings, fees, and on-chain metadata. Creators can permanently lock these settings to ensure transparency and security.

• Creators can allocate their pool’s accrued ETH fees to a specific smart contract, which can be used for various DeFi applications, such as token buybacks and burns or community treasury building.

• 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 launches.

• Creators can also restrict token trading to Ethervista only, making it harder 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, and there is a built-in mechanism to reduce the circulating supply over time.

That is, every transaction on the Ethervista platform will incur fees paid in ETH, a portion 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 VISTA, 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’ve 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 pool. To deploy liquidity, select the desired token and amount in the Liquidity Deployer section and click the Deploy button to complete the action.

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 your pool. To claim rewards, select the token you want to withdraw and click the Claim button.

What to watch for 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 creator has been dumping VISTA, though this claim is currently unconfirmed – it could just be a fallen investor who found VISTA and cashed out early.

There’s also the question of the first VISTA liquidity unlock, which takes place tomorrow, September 4th. Will the token dump as liquidity enters the market? Can it regain momentum and rebound afterwards?

The answers to these uncertainties remain to be seen. But it’s clear that there’s a big demand for this kind of platform on Ethereum, as Ethervista has been one of the biggest consumers of gas on the network since its launch as users flock to this new project.

In the meantime, let’s see what happens 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 loans. How will these advancements affect its adoption among more sophisticated traders?

Also, with its deflationary model, can VISTA continue to grow in value over time, or will the continued slowdown of memecoin 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 is already making waves. Stay tuned, because this could just be the beginning.