Understanding the popular Ethervista in one article

Introduction to Ethervista

Ethervista is an innovative Decentralization exchange (DEX) that cleverly integrates the functions of AMM (Automated Market Maker) mechanism and token issuance platform.

On the team side, the team of Ehervista is in anonymous status. However, according to on-chain data tracking, the team's associated Address is an early ETH Whale and an assistant professor at ETH Zurich.

In terms of functionality, it has similarities with mainstream decentralized trading platforms such as Uniswap. However, it demonstrates its unique advantages in terms of fee structure and Token economic model. Unlike the practice of using ERC-20 Tokens as money laundering in other DEXs, Ethervista chooses Ethereum (ETH) as its transaction currency. The transaction fees are distributed to liquidity providers and token creators. Each transaction is rewarded through a new mechanism, which also brings lower gas fees.

This innovative fee model not only promotes the increase of volume, but also reasonably allocates the fees between Liquidity Providers and Token issuers through Smart Contracts, bringing more stable and predictable returns to participants. This article will elaborate on the mechanism and functions of Ethervista.

Mechanism and Function of Ethervista

Operating Mechanism

Ethervista uses a series of mechanisms - fee allocation, LP functions, and burning mechanism to provide an innovative AMM, thereby distributing Money Laundering between Liquidity Provider LP and Token creators, promoting the rise of volume, providing more stable income for Liquidity Providers, and preventing the occurrence of 'Rug'. The following is a detailed explanation of its mechanisms:

Cost Allocation

Ethervista adopts an innovative mathematical model - based on the 'Eulerian quantity' allocation mechanism, to ensure that users can fairly obtain ETH income in an environment of constantly changing Liquidity. This mechanism goes beyond the short-term price Fluctuationfollow of traditional Decentralizationexchange (DEX), and focuses on promoting long-term value rise instead.

In Ethervista's Smart Contract, there is a numerical sequence called 'Euler's sequence', which is updated every time ETH is transferred to the contract. The calculation of each Euler number involves adding the ratio of the previous Euler number to the total supply of Tokens for Money Laundering and Liquidity Providers. This mechanism ensures that each Liquidity Provider receives their rightful share of profits in each transaction.

From a cost perspective: In the process of creating tokens based on the Uniswap AMM mechanism, the creators of tokens usually set certain buying and selling fees. For example, they may charge 5% of the total tokens for each transaction as revenue. When the market price of the token rises, the income obtained by the developer through these fees also increases. However, when the token price pumps to a certain extent, the creator may choose to sell the tokens they hold and make a profit - Rug Pull.

On the EtherVista platform, developers collect Money Laundering according to preset Smart Contract rules, and these fees are settled in ETH, and each liquidity pool is equipped with four dynamically adjusted fee variables, which are calculated in real time based on on-chain transaction activities. For example, if the Smart Contract stipulates a $10 fee for purchasing the platform Token VISTA and a $15 fee for selling VISTA, then regardless of the fluctuation of VISTA's market price, the developer's income is only tied to the frequency of transactions, and can only receive corresponding fee allocations.

This mechanism effectively associates developers' earnings with volume rather than directly with Token price, thus reducing the motivation for developers to withdraw due to Token price Fluctuation, and enhancing the stability of the platform and investors' confidence.

Ethervista's adding Liquidity feature (source:Ethervista）

LP Function

Under the framework of EtherVista, Liquidity Providers are endowed with the role of Token creators - they can create Liquidity pools through pool configuration settings, thus becoming the creators of these pools and having write access permissions to set key parameters, including pool fees, protocolAddress, and Metadata, etc.

In addition, to enhance the security of investors, Token creators have the authority to decide whether to limit Token trading within the EtherVista platform, which is achieved by restricting the use of the transferFrom function of the ERC20 standard, effectively reducing the risk of fraud for investors. To further protect investors from malicious behavior, EtherVista has implemented an innovative measure for all newly listed projects: a 5-day Liquidity lock-up period. This lock-up period serves as a preventive measure to reduce "rug pulls" - that is, the project party rapidly withdrawing capital and dumpingToken through unfair means in the early stages of the project, causing losses to investors. Through this strategy, EtherVista has not only enhanced the security of the platform, but also contributed to the healthy development of the Decentralized Finance sector.

Destruction Mechanism

The continuous destruction mechanism is a core feature of the EtherVista project, which involves the operation of its platform token VISTA. According to EtherVista's official explanation, VISTA is designed as a value compounding deflationary currency, with the core feature being a continuous automatic buyback and burn mechanism.

Specifically, users in EtherVista generate ETH fees for each transaction (e.g., Swap), part of which is used to purchase and burn VISTA Tokens, thereby reducing the total supply of Tokens and increasing the price floor of VISTA, thus creating a compound value effect. This means that the EtherVista system will continuously and automatically purchase and burn VISTA Tokens, and each operation will increase the price floor of VISTA Tokens, aiming to enhance the price floor of VISTA by reducing the total supply of Tokens, creating a compound value effect.

According to official data, currently 2.63% of the total supply of VISTA Tokens has been permanently repurchased and destroyed. This mechanism helps to increase the scarcity of the Token, which may increase its attractiveness to investors and promote the continuous rise in the price of VISTA Tokens.

Ethervista destruction ratio (source: Ethervista official tweet)

Unique Features

Ethervista provides four core functions and innovative features, achieving the basic functions of DEX and bringing innovation in mechanism and user experience.

Core Features

• Token Exchange: Users can easily exchange ETH and VISTA Tokens on the EtherVista platform. The trading interface is designed to be simple, and users can directly enter the transaction amount and easily complete the transaction through the connected Wallet.
• Token Launcher: EtherVista provides a Token Launcher feature that allows creators to configure new Token pools, set Money Laundering, and launch their own Token pool. In addition, creators can define the allocation Address for ETH fees, which helps support Decentralized Finance applications such as community treasury building.
• Liquidity management: Users can use the Liquidity management tool on the platform to deploy or withdraw their Liquidity, thereby participating in the platform's profit distribution. This provides a way for Liquidity Providers to earn Money Laundering by providing Token Liquidity.

Innovative Features

• Reward Redemption: Users can view and redeem the profits from their liquidity pools in real time. The platform provides a rewards interface where users can track their current and historical rewards and redeem their profits.
• Superchat: This is a global real-time chat system directly embedded in the DEX platform, allowing users to exchange information quickly. Access to SuperChat depends on the number of VISTA Tokens held by the user, implementing a user grading system based on holdings.

VISTA Tokenomics

VISTA is the native Token of the EtherVista platform, designed with the feature of Deflation, with a total supply limit of 1 million. The platform continuously repurchases and burns VISTA Tokens using a portion of the ETH transaction fees generated from each transaction, thereby reducing the circulating supply in the market and creating a Deflation effect. This mechanism aims to increase the value of the Token by reducing the supply, thus creating long-term value for VISTA holders.

As of now, EtherVista has burnt more than 26,000 VISTA, reducing the current total supply to below 974,000. The number of token holders has reached 8,600 and the number of token transfers has reached 43,302.

VISTA performed well after going online, with a 40-fold increase in just 4 hours, reaching a peak market capitalization of about 50 million US dollars. Despite the price fluctuation, from the peak of $27.60 to around $10, the Deflation mechanism of VISTA still provides potential support for its long-term value. The current market capitalization is about 10 million US dollars.

Conclusion

EtherVista's future plans include expanding the liquidity pool, offering lending, futures, and fee-less Flash Loans services, and integrating with centralized exchanges to further expand its market influence. These plans aim to make EtherVista a multi-functional Decentralized Finance (DeFi) platform, providing more comprehensive services and a wider range of use cases.

In general, VISTA's Token economic model combines the Deflation mechanism with the reinvestment of Money Laundering on the platform to promote the continuous rise of its value and the increase in scarcity. This design not only provides potential long-term returns for Token holders, but also provides motivation for the stability and rise of the entire EtherVista ecosystem. However, it should be noted that although EtherVista offers innovative mechanisms and broad prospects, it is still a emerging platform, and its Smart Contracts have not been audited, so users should exercise caution when using it.