A new dark horse $VISTA
Pump fun now has a competitor on Eth.
The Eth maxis are in a dire state with Vitalik tweeting that DeFi doesn’t matter, ETHBTC hitting new lows, ETF inflows slowing down, and Layer 2 fragmentation resembling a shattered mirror.
@ethervista seems positioned to finally launch a novel project by crypto natives, playing on a fair launch model (100% supply for LPs).
This project has the potential to be a serious runner due to the way it’s launched and the timing of the narrative, with nothing exciting happening on Ethereum at the moment.
Breakdown:
They're looking to be the pump fun of Ethereum, allowing you to customize parameters to a certain degree with new token launches while discouraging rugging liquidity through bonding curves and revenue sharing.
This is achieved by adding a 5-day locking period on the initial liquidity provision by new creators. From their research, they found that most rugs occur between 2-4 days.
The 5-day timer begins at the time of the first token liquidity addition by the creator, i.e., when projects launch on Ethervista. This ensures that the token creator cannot withdraw liquidity before other providers.
Benefits to Users and Liquidity Providers: This system instils confidence in users, as it ensures project stability during the critical early phase. Liquidity providers (LPs) also benefit by earning more fees over the long term.
Custom Fees in ETH: Instead of charging a standard fee in tokens like most AMMs, Ethervista charges a fee in native ETH for each swap. This fee is then distributed among liquidity providers and token creators, encouraging them to remain committed to the platform long-term.
Incentivizing Longevity: The model discourages quick liquidity withdrawals (often associated with rug-pulls) by implementing a delayed liquidity removal mechanism. This ensures that developers and investors benefit more from sustained activity and volume rather than just price spikes.
Smart Contracts and Customization: The platform allows creators to set up smart contracts to handle fees, which can be used for various DeFi applications like staking or auto-buys. This gives creators flexibility in managing their projects while ensuring continuous growth.
Advanced Features: Ethervista plans to expand its services to include ETH-BTC-USDC pools, lending, futures, and fee-less flash loans, aiming to become a comprehensive DeFi platform.
Native Token ($VISTA): Ethervista’s native token, $VISTA, is deflationary with a capped supply of 1 million tokens. Its value is designed to increase over time as the protocol continuously burns tokens, reducing the supply and raising the price floor.
Risks:
The initial unlocks of LPs will happen around September 4th at 2:30 PM UTC, which will probably trigger a short-term sell-off.
However, the team hasn’t released any details on the ponzinomics regarding the $VISTA token burn. They’ve specified that it will be a deflationary model with the price increasing as revenue is generated in $ETH (which prevents a death spiral), but nothing more has been disclosed yet.
My guess is they’re waiting until closer to the unlock date of the LPs to reduce sell pressure, which I think is a smart move.
It had a shaky start due to the front end not working, which caused a sell-off, but that’s pretty common for new launches and isn’t a red flag for me.
