After the meme frenzy sparked by Pump.fun on Solana and Sunpump on Tron, the Ethereum network finally witnessed the emergence of a new DEX protocol called EtherVista at the start of September, bringing users a powerful wealth effect.
On September 1, a new token called VISTA gained attention due to its massive price surge. Initially launched at approximately $0.014, the token has experienced an increase of over 10,000x. Before its launch, EtherVista’s official Twitter announced that there would be no pre-sale or team pre-allocation, and that the team would use its own funds to purchase tokens simultaneously with other users in a fair manner.
EtherVista, which launched just 7 day ago on Ethereum, describes itself as a “DEX challenging Uniswap” and has been dubbed “Ethereum’s Pump.fun” by some token holders. Data shows that within a week, the amount of ETH burned via EthVista surpassed that of Uniswap.
What are EtherVista’s standout mechanisms?
According to EtherVista’s six-page whitepaper, the protocol introduces a new model where fees are paid exclusively in ETH and distributed to liquidity providers and token creators participating in the pool. Each transaction triggers a novel reward distribution mechanism while maintaining low gas fees.
Unlike Uniswap, EtherVista’s core feature is that market makers and creators benefit from trading volume rather than relying solely on token price increases, encouraging long-term investment over short-term speculation. Investors can also benefit from a delayed liquidity withdrawal mechanism, designed to prevent rapid cash-outs and rug pulls.
In summary, EtherVista shifts the fee model from Uniswap’s proportional fee structure to a fixed fee per transaction, rewarding both developers and liquidity providers. The focus is moved from total trading volume to total transaction count.
EtherVista also offers a fair launch mechanism and plans to introduce additional DeFi features such as flash loans, futures contracts, and lending in the future.
Data
On-chain data shows that EtherVista has reached approximately $340 million in cumulative trading volume, with 609 trading pairs created and 7,859 users onboarded so far. In its first week, the platform has attracted users due to VISTA’s strong wealth-generating potential, though the growth rate has begun to slow.
In essence, EtherVista’s operational innovations as a DEX are relatively modest. The recent surge in popularity can likely be attributed to the following factors:
1. The use of a fair launch mechanism, excluding VC tokens, left room for token appreciation, drawing significant attention through price increases.
2. With meme seasons previously taking place on Solana and Tron, EtherVista’s fair launch on top of a DEX tapped into existing demand.
3. Its unique profit-sharing model added to the project’s buzz.