Q1.
We recently published a tweet (https://twitter.com/vitelabs/status/1270561313391951872) on understanding Vite from ViteX:
ViteX is the world’s 1st DAG-based DEX w/ superb performance & CEX-like UX, where every trade earns dividend-paying tokens.
Vite is the lightning-fast, zero-fee blockchain that enables ViteX.
VITE is the coin you stake for higher TPS on Vite.
To better understand the work of Vite team: We are product-first, battle-tested and tech-driven.
Product-first - as in we build things people want. Dex being premier example.
Battle-tested - our products (exchange, wallet) have been in use for a while with a strong user base.
Tech-driven - our fast and zero fee tech are supported by DAG/snapshot chain.
Q2.
One thing we are looking to change a bit is to collect more community feedback in the days to come. And tune our products and plans according to such feedback. You may have already see this from our stablecoin survey.
Q3.
VITE is the native coin for Vite protocol. VITE can be staked to get more TPS. Non-stakers can transact at a normal TPS, but stakers get a higher TPS quota.
for more information about staking, trading, recovery and teaching you how to trade, contact Mrs Amanda Abella at [email protected]. she has always been helpful to me and other people who i have recommended to her. Try your luck.
for more information about staking, trading, recovery and teaching you how to trade, contact Mrs Amanda Abella at [email protected]. she has always been helpful to me and other people who i have recommended to her. Try your luck.]
Follow-ups to various requests from the AMA:
We will be changing the "Comment" field to "Memo" in the Vite app. This will hopefully reduce confusion in sending VITE to Binance from the app.
The referral codes for "referral as mining" are meant for influencers, SBPs and other community members with abilities to refer other users. As such, the cost to acquire the referral code will be gradually offset by accruals in mined VX (remember, the remitted VITE will be burned, benefiting all VITE holders). And therefore we will not be reducing the cost to generate referral codes in the near term. We may consider launching a campaign to incentivize user invitation in the future, where we will partially or fully reimburse the cost of referral code generation.
The cost to become SVIP is originally intended for market-makers. After considerations, we believe the current cost is reasonable and will maintain the charge at this level.
The VX dev reward (10% of daily release) that the Vite team receives is being staked.
