What is Ethervista and is it here to stay?

After a year full of brainless memecoin punting, it feels good to finally be writing about new Ponzus.

Those of you who are still here and active may already know Ethervista, given that it had an almighty rise just two days after launch, going from 0 to $18M in market cap.

So what the hell is this? Why is it all of a sudden all over your CT feed? Is it just short-term fugazi, or is it here to stay? We’ll go over everything below. The blocmates crew always got your back.

What is Ethervista?

Etherevista is essentially a new style of AMM featuring some old-school Curve Finance UI, giving us true ‘Make DeFi Great Again’ vibes.

So, what do they do differently?

Well, they identified some major problems with current AMMs on Ethereum: rugging and the incentivization of short-sighted price action, which hampers projects playing the long-term game. Instead, the Ethervista AMM focuses on incentivizing liquidity.

How does Ethervista incentivize liquidity?

AMMs typically charge a 0.3% fee on every swap, paid out in tokens. Ethervista switches this to have fees paid in native ETH, but it’s the fee structure and distribution of this fee that sets them apart.

When a pool creator initializes a pool, they can configure certain fee settings.

So, each pool has an assigned smart contract to which some fees go.

For example, suppose there is a buy fee and a sell fee. Every time a swap is made from an Ethervista pool, that amount of ETH is sent to the attached smart contract, which can be coded to permanently add the fees as locked liquidity to the pool to create a rising price floor.

There are many similar possibilities.

Essentially, the idea behind this customizability and focus on liquidity makes it so liquidity providers and pool creators benefit more from volume rather than short-sighted price action.

The average ape like you and me is somewhat protected from rugs because liquidity removal has a five-day lock-in period (more on this later).

Besides configuring pool fees, the creator must also determine the protocol address and the metadata. The protocol address is very important because it’s what I mentioned above. This is where the fees will go and get distributed based on the smart contract logic.

Creators can also define the metadata by including a website URL, project description, logo, social media handles, etc. This is more of an optics detail for protocols potentially using Ethervista. All of this will show up in the ‘Explore’ section, which may help with visibility.

So this is the general crux of what Ethervista is.

Beyond this, they also have chatting features like Superchat, and in the future, they plan to create a lending market, fee-less flash loans, and futures.

What are the VISTA Tokenomics?

The Ethervista native token is called VISTA. Protocol fees from token launches are then used to auto-buy and burn the VISTA token.

How do I buy VISTA?

It’s not too difficult to buy VISTA

All you have to do is go to the Ethervista app, and connect your wallet. Once you do that, you will see this.

Select ETH for the top coin and VISTA for the second coin.

Click on ‘swap,’ approve the transaction in your wallet, and voila, you have just bought VISTA.

The good and the bad of Ethervista

We’re optimists, so let’s start with the good.

Ethereum has been starving all year. It’s been about time that something fresh and exciting comes to Ethereum, and we may have finally got it through Ethervista.

It is kind of like an Ethereum version of pump.fun. Since rugging is so much easier on Ethereum, it’s hard to properly replicate a pump.fun style platform, but this is like a launch platform that can be used for a bunch of different things beyond simple memecoins. So slightly more catered to ETH whales as well.  

It is also better that it’s on Ethereum because the level of jeetery on Ethereum compared to Solana is much lower. So, new devs using this probably won’t dump on you for a hot dog and a can of Coke.

This brings me to my next point: the ability to configure pool fee distribution gives prospective protocols so much more flexibility. They can configure auto-buys from fees, reward certain users, or distribute staking rewards in certain ways. The possibilities are endless.

Now for the not-so-good.

If you really zoom out, it’s just another Uni V2 style AMM with slight changes to fee distribution. Yes, its flexibility is good, but any dev can use this fee mechanism maliciously for it to favor them.

Secondly, there is a five-day liquidity lock-in period. This prevents rugs because, according to the team, most rugs happen within 2-4 days of launch. But this just means a coin's life cycle is extended by a few days.

A dev can easily rug on the fifth day, but moreover, all coins will have major sell-offs before the fifth day as everyone will expect some selling from the dev. So yes, the dev cannot directly rug, which is good, but has that much changed tangibly?

Moreover, some people like to move funds in and out of pools multiple times a day for whatever strategies they are executing; this will now become a little more difficult.

The blocmates take on Ethervista

In general, I think Ethervista is good. Even if it doesn’t have staying power, we got something on Ethereum that woke people out of their slumber. So expect more activity on Ethereum because devs now know there is appetite.

If it does have staying power, then expect an Ethervista meta. You are already seeing it with coins like VISTADOG and BONZI, etc., which have already launched on the platform, being picked as the meme of choice. But if it’s just another Ethereum meme season, but on Ethervista, expect a lot of unique styles of rugging.

I hope to see protocols using the pool configuration options for good. While I doubt we see it, I will remain a delusional optimist and hope for the best.

With that, this short write-up on Ethervista has concluded. I hope it helps you. Be sure to follow blocmates to keep up with all the latest.