Ethervista Releases Whitepaper, Claims to Be a 'Value-Compounding Deflationary Currency' Targeting Meme Coin Degens
- PHPzOriginal
- 2024-09-04 09:42:12497browse
Ethervista, which is being described as the “Pump.fun” of Ethereum, released its whitepaper on Aug. 31, claiming to be a “value-compounding deflationary currency” with the token VISTA.
A new Ethereum project, Ethervista, has unveiled its native token, VISTA, and is describing it as a “value-compounding deflationary currency.”
Ethervista is a DEX that was launched in March and is now aiming to close a gap in the Ethereum DeFi market. The platform enables users to create their own tokens, which are mainly used for memes, and then trade them on the DEX.
The platform's gas usage has surged to become the top consumer, using up 150 ETH in gas over the past day, according to Dune Analytics.
Ethervista explained that the platform is constantly auto-buying and burning the token, which increases the floor price each time.
The project is highlighting a fair launch with a liquidity lock of five days, which was decided after observing that most rug pulls usually occur between two and four days of launch.
Moreover, the total supply was distributed to the liquidity pool and locked for five days. It is important to note that swaps do incur a gas fee in ETH, which is then distributed to the liquidity providers.
Ethervista has a deflationary supply, which is capped at one million tokens, and the issuance will reduce over time through coin burns.
The platform is now targeting a gap in the Ethereum DeFi market that has been attracting meme coin degens and boosting network revenues on rival platforms like Base and Solana.
On September 2, Ethervista noted that a lot of pairs were being created and urged creators to burn their liquidity “as transferring lp-tokens to the burn address does not change their share of the lp rewards.”
According to DEXscreener, VISTA surged to an all-time high of almost $30 on September 2 before falling back to $18.23 with a market cap of almost $20 million at the last check.
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