Original author: Joyce, Jack, Rhythm BlockBeats

 

On September 2, a new token named "VISTA" that was only one day old rose more than 10 times. On Dexscreener, the details of VISTA were also prompted as "Unknown DEX". VISTA comes from EtherVista, a DEX that has just been running for 1 day. It calls itself "the DEX that challenges Uniswap" and is called "Pump.fun on Ethereum" by some token holders. Several tokens have been deployed and issued on EtherVista. .

What is EtherVista?

EthervVsta said that its mechanism features challenge Uniswap’s AMM model.

According to EtherVista's 6-page white paper, the EtherVista standard introduces a new model in which fees are paid only in ETH and distributed to all liquidity providers and token creators participating in this pool. Each transaction is processed through a new Mechanism to distribute rewards while keeping gas costs low. Unlike Uniswap, a core feature of the EtherVista model is that market makers and creators benefit from trading volume rather than relying solely on token prices, thus encouraging long-term investment rather than short-term price speculation. Investors can also benefit from a delayed liquidity withdrawal mechanism that prevents quick cash outs.

To put it simply, developers who create tokens based on the Uniswap AMM mechanism can set buying and selling fees, such as 5% of the token for each transaction, and benefit from this. When the token price rises, the developer's income will also increase accordingly, and it is possible to sell the token and "run away" after obtaining sufficient income. But in EtherVista, developers can only charge transaction fees based on the smart contracts set by EtherVista, and settle them in ETH. For example, the smart contract sets the handling fee to be 10U when buying the platform token VISTA and 15U when selling it. Regardless of the price of VISTA, in the handling fee channel, developers can only benefit from the number of transactions, which reduces The risk of "making enough money and running away".

The EtherVista smart contract maintains a sequence of numbers called "Euler", which are updated every time ETH is transferred to the contract. Each Euler number is calculated based on the previous Euler number plus the ratio of transaction fees and the total supply of liquidity provider tokens. Through this mechanism, each liquidity provider can be ensured that each transaction You can accurately obtain the benefits you deserve.

For each transaction, EtherVista charges an ETH fee, which is split between liquidity providers and the protocol. Each pool will have four variables that set fees, and these variables will be dynamically calculated based on the transactions on the chain. For example, a pool could set a buy fee of $10 and a sell fee of $15. If a user sells tokens, he needs to pay $15 in ETH to the liquidity provider and protocol. The protocol’s smart contracts will use this fee to establish a stable price floor and provide sustainable income to project creators. Each liquidity provider can claim the rewards they deserve at any time.

Users who provide liquidity are called "creators", and they have the authority to set various parameters of the pool, such as fees, protocol addresses, and metadata. This new model shifts the focus from short-term profits and price fluctuations to longer-term activity and project utility. Creators can also define on-chain metadata for their tokens, such as website links, project descriptions, social media accounts, etc. This information will be displayed on the EtherVista platform to ensure that users are accessing reliable project information. The platform also integrates a global instant chat function (SuperChat) to help users exchange information faster.

Ethervista also stated in the white paper that it plans to expand to a larger market, such as establishing an ETH-BTC-USDC liquidity pool, and providing lending, futures, and fee-free flash loan functions, with the aim of becoming a multi-functional one. A one-stop decentralized application (DApp).

Agreement mechanism

On July 11, EtherVista published its first post. On August 19, EtherVista stated that it was “airdropping the white paper.” As long as you retweet the tweet, the official Twitter will send the project white paper in the form of DM.

On August 31, EtherVista announced on its official Twitter account that it would launch VISTA’s Fair Launch on the morning of September 1. The initial liquidity will be approximately US$30,000, and LP tokens will be destroyed. The issuance price of the token is approximately $0.014, which is an increase of 12857 times based on the current price of $18. Before going online, EtherVista’s official tweet stated that there will be no pre-sale and team pre-allocation, and that team funds will be used to purchase their own tokens in a fair manner at the same time as other users when going online.

EtherVista’s platform token is $VISTA, with a fixed supply of 1 million. It is a "value compound deflation token", that is to say, each transaction will burn a part of the token. On this basis, the value of VISTA will increase with the transaction. EtherVista uses this to make VISTA have The ability to fight against inflation promotes the continued growth of token prices.

The EtherVista white paper proposes a new decentralized exchange model that aims to solve existing problems by introducing more reasonable fee allocation and token mechanisms. Compared with the traditional AMM model, EtherVista encourages participants to make long-term investments rather than short-term speculation by adopting an ETH-only fee mechanism and innovative income distribution methods (such as Euler's sequence). The platform also provides some unique features, such as SuperChat chat and customized token metadata display, aiming to create a more transparent and richer decentralized financial platform. Overall, the design of EtherVista contributes to the continued growth and stable development of the blockchain ecosystem.

To ensure the long-term success of $VISTA and other EtherVista projects, the platform has implemented a 5-day lockup period. This lock-up period is designed to prevent developers and liquidity providers from withdrawing liquidity prematurely, causing the project to "run away". The 5-day clock for the lockup period starts when the token creator first adds liquidity, ensuring that the token creator cannot withdraw liquidity earlier than other liquidity providers during this period.

Even though liquidity cannot be withdrawn within the first 5 days, liquidity providers can claim their rewards at any time. The EtherVista logo only comes after LP rewards for the $VISTA token have exceeded $25,000 in another 5 hours, and these fees are paid in ETH, which means that the collection of fees will not bring any benefits to $VISTA or other tokens launched on the EtherVista platform. This creates additional selling pressure and reduces potential risks to the project.

Experience teaching

trade

EtherVista only directly displays the token names of ETH, USDT and VISIA. To purchase other tokens, you need to paste the token contract address in the input box and click ENTER. Then enter the purchase amount, and the interface will display the number of tokens that can be traded and the current liquidity pool information of the token.

Token inquiry and chat

The EXPLORER window allows you to view the details of token information created on the platform. This information is defined by the token creator, including website links, project descriptions, social media accounts, etc. Different from other general token information display formats, the rewards generated by tokens can be viewed on EtherVista, and these rewards will be distributed to LPs.

In addition, the Ethervista platform integrates a real-time chat function. Enter the SuperChat window and set a user name to chat in the interface. This function is similar to Pum.fun’s token comment area, but simpler and rougher.

Popular targets & position status

VISTA

EtherVista’s platform token $VISTA was launched at 0:00 a.m. on September 1. At noon the next day, VISTA suddenly began to soar, increasing 10 times in 5 hours, with a trading volume of over 8.5 million US dollars, and a current market value of 13 million US dollars. EtherVista shows that VISTA generated a total of $67,334 in rewards for its LP. GMGN data shows that the top 70 VISTA buyers purchased a total of 56% of the tokens, and the current shareholding ratio is 6.38%.

VISTA DOG

VISTADOG was created at around 2 p.m. on September 2. It increased more than 40 times within 4 hours after going online, with a trading volume of US$1.5 million. Market cap at time of writing is $1.2 million. According to EtherVista, VISTADOG has currently generated a total of $2,431 in rewards for its LP. GMGN data shows that the top 70 buyers of VISTADOG purchased a total of 36% of the tokens and currently hold 12% of the shares.

Developer making $30,000 a day?

After BlockBeats conducted a transaction on EtherVista, it was discovered that an amount of ETH of about $1 was transferred to an address starting with 0xCA9. DeBank data shows that as of the time of writing, this address has several ETH worth $1 per second. Account, suspected to be the address of the VISTA developer.

On Nansen, this wallet address is marked as "High Gas Consumer" and currently has a total of $63,819, including $57,856 worth of ETH, $4,875 of CLIPPY, and $281 of VISTA. It had $33,833 in ETH yesterday, which means that EtherVista developers earned $24,023 in ETH through VISTA.

(The above content is excerpted and reprinted with the authorization of partner MarsBit, original text link | Source: BlockBeats)

Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.

〈With a 10-fold increase in one day and developers earning $30,000 a day, what is EtherVista, which is billed as the “new standard for DEX”? 〉This article was first published in "Block Guest".