Ethervista, which is being described as the \u201cPump.fun\u201d of Ethereum, released its whitepaper on Aug. 31, claiming to be a \u201cvalue-compounding deflationary currency\u201d with the token VISTA.<\/p>\n
Pump.fun is a Solana-based marketplace that allows users to easily create and distribute their own tokens, which are primarily meme coins<\/a>.<\/p>\n Its gas usage has surged to become the top consumer guzzling 150 ETH in gas over the past day, according<\/a> to Dune Analytics.<\/p>\n The platform is constantly auto-buying and burning the token, increasing the floor price each time, it explained.\u00a0Ethervisa also promoted a fair launch with a liquidity lock of five days following the conclusion that most rug pulls take place between two and four days of launch.<\/p>\n Additionally, the total supply was distributed to the liquidity pool and locked for five days. Swaps accrue a gas fee in ETH, which is distributed to the liquidity providers.\u00a0It has a deflationary supply capped at a million tokens, with issuance reducing over time through coin burns.<\/p>\n It’s time to explain how $VISTA<\/a> works Wut ? <\/p>\n This means Ethervista is constantly autobuying and burning the token, increasing the floor price each time. This is a type of feature that EthervistaDEX renders possible<\/p>\n To\u2026 pic.twitter.com\/69LBf3ZQqT<\/a><\/p>\n \u2014 Ethervista (@ethervista) September 3, 2024<\/a><\/p>\n\n The project is targeting a gap in the Ethereum DeFi market that has been filled by rival platforms Base and Solana, which have attracted meme coin degens and are boosting network revenues.<\/p>\n On Sept. 2, Ethervista noted<\/a> that a lot of pairs were being created. It strongly urged creators to burn their liquidity \u201cas transferring lp-tokens to the burn address does not change their share of the lp rewards.\u201d<\/p>\n VISTA surged to an all-time high of almost $30 on Sept. 2 before falling back to $18.23 with a market cap of almost $20 million at the time of writing, according to DEXscreener.<\/p>\n The launch comes amid growing concerns about Ethereum supply becoming inflationary<\/a> again as network fees plummet.\u00a0Since the Dencun upgrade in March, which vastly reduced layer-2 fees, Ethereum layer-1 has been suffering.<\/p>\n Ethereum supply is currently inflating by 0.73% per year and has grown by 0.2% since April to reach 120.32 million, according to Ultrasound.Money<\/a>.<\/p>\n Additionally, Ethereum layer-1 revenue is down 99% in the past six months, according<\/a> to Token Terminal. This has lowered the demand for the asset which is used to pay network fees in gas.<\/p>\n Ethereum community member Ryan Berckmans refuted some of the FUD, stating that \u201cEthereum doesn\u2019t \u2018aim\u2019 to collect fees. Fees are not a goal, they\u2019re a byproduct.\u201d<\/p>\n Ethereum doesn’t “aim” to collect fees. Fees are not a goal, they’re a byproduct.<\/p>\n We coincidentally collect fees because we make a platform that’s too useful to remain uncongested, and fees are the best way we know to resolve that congestion.<\/p>\n ETH is money, Ethereum is for users<\/p>\n \u2014 Ryan Berckmans ryanb.eth (@ryanberckmans) September 2, 2024<\/a><\/p>\n\n The post New Ethereum DEX Ethervista Guzzles Gas, Bucking Low Network Fee Trend<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethervista, which is being described as the \u201cPump.fun\u201d of Ethereum, released its whitepaper on Aug. 31, claiming to be a \u201cvalue-compounding deflationary currency\u201d with the token VISTA. Pump.fun is a Solana-based marketplace that allows users to easily create and distribute their own tokens, which are primarily meme coins. Its gas usage has surged to become […]<\/p>\n","protected":false},"author":0,"featured_media":3308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3307"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3307"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3308"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Deflationary DeFi Asset<\/h2>\n
VISTA is a value-compounding deflationary currency. <\/p>\nEthereum Fee Slump<\/h2>\n