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.

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 the top consumer guzzling 150 ETH in gas over the past day, according to Dune Analytics.

Deflationary DeFi Asset

The platform is constantly auto-buying and burning the token, increasing the floor price each time, it explained. Ethervisa 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.

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. It has a deflationary supply capped at a million tokens, with issuance reducing over time through coin burns.

It’s time to explain how $VISTA works ⚡️
VISTA is a value-compounding deflationary currency.

Wut ?

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

To… pic.twitter.com/69LBf3ZQqT

— Ethervista (@ethervista) September 3, 2024

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