What is EtherVista, which claims to be the "new standard for DEX," with a daily increase of 10 times and developers earning $30,000 a day?

Author: Joyce, Jack, BlockBeats

Today, a new token named "VISTA," which was born just one day ago, surged over 10 times in a single afternoon. On Dexscreener, the details of VISTA are still marked as "unknown DEX." VISTA comes from a DEX called EtherVista, which claims to "challenge Uniswap." Some token holders refer to it as "Pump.fun on Ethereum." Several tokens have already been deployed and issued on EtherVista.

What is EtherVista?

EtherVista claims that its mechanism features challenge the AMM model of Uniswap.

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

In simple terms, developers creating tokens based on the Uniswap AMM mechanism can set buy and sell fees, such as 5% for each transaction, and profit from it. When the token price rises, the developer's earnings will also increase, potentially leading to a sell-off after gaining sufficient profits. However, in EtherVista, developers can only collect transaction fees according to the smart contracts set by EtherVista, settling in ETH. For example, if the smart contract sets a fee of 10U for buying the platform token VISTA and 15U for selling, regardless of VISTA's price, developers can only profit through the number of transactions, reducing the risk of "making enough to run away."

The EtherVista smart contract maintains a digital sequence called the "Euler sequence," which updates with each ETH transfer 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. This mechanism ensures that each liquidity provider can accurately receive their deserved earnings in every transaction.

For each transaction, EtherVista charges an ETH fee, which is distributed between liquidity providers and the protocol. Each pool has four variables for setting fees, which are dynamically calculated based on on-chain transaction conditions. For example, a pool can set a buy fee of $10 and a sell fee of $15. If a user sells a token, they need to pay $15 in ETH to the liquidity providers and the protocol. The protocol's smart contract uses this fee to establish a stable price floor and provide sustainable income for project creators. Each liquidity provider can claim their rewards at any time.

Users providing liquidity are referred to as "creators," and they have the authority to set various parameters for the pool, such as fees, protocol addresses, and metadata. This new model shifts the focus from short-term profits and price fluctuations to more long-term activities and project utility. Creators can also define their token's on-chain metadata, such as website links, project descriptions, social media accounts, etc. This information will be displayed on the EtherVista platform, ensuring that users access reliable project information. The platform also integrates a global real-time chat feature (SuperChat) to help users exchange information more quickly.

EtherVista also stated in its white paper that it plans to expand into larger markets, such as establishing liquidity pools for ETH-BTC-USDC and providing lending, futures, and fee-free flash loan functions, aiming to become a multifunctional one-stop decentralized application (DApp).

Protocol Mechanism

On July 11, EtherVista posted its first tweet. On August 19, EtherVista announced it was "airdropping the white paper," stating that by retweeting, the official account would send the project white paper via DM.

On August 31, EtherVista announced on its official Twitter that it would launch VISTA's Fair Launch on September 1 at 12 AM, with initial liquidity of about $30,000, and LP tokens would be burned. The token's issuance price was approximately $0.014, and based on the current price of $18, the increase is 12,857 times. Before the launch, EtherVista's official Twitter stated there would be no presale or team pre-allocation, and team funds would be used to purchase their tokens fairly alongside other users at launch.

The platform token of EtherVista is $VISTA, with a fixed supply of 1 million tokens. It is a "value-compounding deflationary token," meaning that a portion of the tokens is burned with each transaction. Based on this, the value of VISTA will grow with transactions, allowing EtherVista to give VISTA the ability to resist inflation and promote continuous growth in token prices.

The EtherVista white paper proposes a new type of decentralized exchange model aimed at solving existing problems by introducing more reasonable fee distribution and token mechanisms. Compared to traditional AMM models, EtherVista incentivizes participants to engage in long-term investment rather than short-term speculation by adopting a fee mechanism that only collects ETH and innovative revenue distribution methods (such as the Euler sequence). The platform also offers unique features, such as SuperChat chat and customizable token metadata display, aiming to create a more transparent and information-rich decentralized finance platform. Overall, EtherVista's design contributes to the sustainable 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 lock-up period. This lock-up period is designed to prevent developers and liquidity providers from withdrawing liquidity too early, which could lead to project "rug pulls." The 5-day countdown begins when the token creator first adds liquidity, ensuring that during this period, token creators cannot withdraw liquidity earlier than other liquidity providers.

Even though liquidity cannot be withdrawn in the first 5 days, liquidity providers can claim their rewards at any time. EtherVista's data shows that the LP rewards for the $VISTA token have already exceeded $25,000 within 5 hours, and these fees are paid in ETH, meaning that the collection of fees will not add extra selling pressure on $VISTA or other tokens launched on the EtherVista platform, reducing the potential risk to the project.

Experience Tutorial

Trading

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

Token Query and Chat

The EXPLORER window allows you to view the detailed information of the tokens created on the platform, defined by the token creators, covering website links, project descriptions, social media accounts, etc. Unlike other general token information display formats, EtherVista allows you to see the rewards generated by the tokens, which will be distributed to LP.

Additionally, the EtherVista platform integrates a real-time chat feature. By entering the SuperChat window and setting a username, you can chat within the interface. This feature is similar to the token comment section of Pum.fun but is simpler and more rudimentary.

Popular Targets & Holdings

VISTA

The platform token of EtherVista, $VISTA, launched at 12 AM on September 1. Today at noon, VISTA suddenly began to soar, increasing 10 times in 5 hours, with a trading volume exceeding $8.5 million, and a current market cap of $13 million. EtherVista shows that VISTA has generated a total of $67,334 in rewards for its LP. GMGN data shows that the top 70 buyers of VISTA have purchased 56% of the tokens, with a current holding share of 6.38%.

VISTADOG

VISTADOG was created around 2 PM on September 2. After launching, it surged over 40 times in 4 hours, with a trading volume of $1.5 million. As of the time of writing, its market cap is $1.2 million. EtherVista shows that VISTADOG has generated a total of $2,431 in rewards for its LP. GMGN data shows that the top 70 buyers of VISTADOG have purchased 36% of the tokens, with a current holding share of 12%.

Do Developers Earn $30,000 a Day?

After conducting a transaction on EtherVista, BlockBeats discovered that approximately $1 worth of ETH was transferred to an address starting with 0xCA9. DeBank data shows that as of the time of writing, this address receives several transactions of $1 worth of ETH every second, suspected to be the address of the VISTA developers.

On Nansen, this wallet address is marked as a "High Gas Consumer," currently holding $63,819, consisting of $57,856 in ETH, $4,875 in CLIPPY, and $281 in VISTA. It had $33,833 in ETH yesterday, meaning that the EtherVista developers have earned $24,023 in ETH through VISTA.