Ethereum's turn to have a memecoin issuance platform called Ethervista

After pump.fun on Solana and SunPump on TRON, the trend of building a memecoin initialization platform has spread to Ethereum with the appearance of the name Ethervista.

In the past 48 hours, one of the keywords mentioned the most by the crypto community on X (Twitter) is Ethervista.

Launched at the end of August, Ethervista has a similar operating model to other memecoin issuance projects, which is to simplify the token initialization process for users, and at the same time has a mechanism to prevent rug pulls.

When initializing a memecoin via Ethervista, the initiator will need to lock liquidity for at least 5 days. The reason is because according to statistics, memecoins will usually rug pull within 2-4 days from the time of launch.

In addition, Ethervista also has a fixed transaction fee mechanism, different from the fee calculated on a percentage of the transaction value as commonly found on other DEXs.

A portion of this fee will be used by Ethervista to buy back and burn VISTA - the project's own token, with $200,000 burned on September 2.

In the near future, the project aims to deploy more supporting products such as multi-token pool support, futures, lending and flash loans.

According to statistics, Ethervista is the smart contract consuming the most gas fees on Ethereum in the past 24 hours, with a figure of up to 150 ETH, 3 times higher than the project ranked next.

This shows the success of the project's early stages, with the VISTA token price rising from $0.042 at launch on August 31 to $30 by the evening of September 2, before falling to $15 at the time of writing.

In addition, some memecoins issued through this have also witnessed remarkable growth in the past 48 hours such as VISTADOG or VISTACAT.

However, Ethervista has not escaped controversy with accusations that a member of the development team pre-purchased VISTA tokens using a private wallet and then sold the tokens within 2 days, earning a profit of nearly $700,000.

The emergence of Ethervista comes as gas fees on the Ethereum network have collapsed to a five-year low, partly due to the decline in DeFi activity there, and partly due to the effectiveness of the layer-2 scaling strategy, pushing users to these new blockchains to reduce the load on layer-1.

Meanwhile, activity on previous memecoin creation platforms such as pump.fun or SunPump has also decreased as investor interest has waned.