Vite Labs Leadership AMA (Sep 10, 2020) - Post your questions here!



    1. Are there plans for there to be more transparency with how VX mining rewards are finalized, such as proofs or at least being able to see the potential VX mined based of individual transactions?

    2. What is the teams plan for attracting new/more users? There are still a lot of well known/big market cap coins/tokens that aren't listed and I feel like wIth ETH gas fees being so high this is the perfect time for ViteX to capitalize on having such low trading fees and no transaction fees on the Vite chain.

    3. What do you feel like is the most important milestone your team is currently working on and why?



  • @VISHANT-KUMAR It’s hard to project the growth of the dividend pool. But the pool will grow as a result of increased trading. So the usual strategy applies - new coin listing, cross-community marketing, liquidity mining for more pairs.



  • @hassan said in Vite Labs Leadership AMA (Sep 10, 2020) - Post your questions here!:

    The DeFi projects did breed some very rich people. See Master Nomi at Sushi. But the volatility also created many unhappy traders.

    Our Open Finance initiative including zero fees for stablecoin conversion has garnered quite a bit of attention and increased the liquidity of stablecoin trading pairs on our platform

    Unfortunately we can’t promise the trajectory of our prices



  • @super

    The website development is done. We are polishing the English language translation. Also we’re looking to get a new slogan. The ideal slogan will need to capture the fact that we’re at the helm of the Open Finance movement and the various things we’re trying to achieve with Vite 2.0.

    We want to list VX ASAP. We are principally in agreement with an exchange with large China presence. Currently seeking a non-China exchange to list simultaneously. For that - We have spoken to the likes of bitmax, but can’t agree on the price.



  • @slimcan

    Regarding smart contract upgradability - we published a notice at the beginning of this quarter about changes to our roadmap. This item has been de-prioritized because of ViteX-related tasks and Vite 2.0.

    We can do 2000 TPS and that’s more than sufficient for the operations we support now.

    We sustained a DDOS attack, which we countered via various tech mechanisms on our side. I don’t want to go into specifics to avoid tipping off the attacker.

    Our engineering team did an internal postmortem and I think we’re in a good place.

    Also, note that the attack was faking many legitimate requests in hopes of paralyzing our various services. The attack would NOT be able to steal coins in wallets.



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  • @xand714

    This question is asking how traders can be more sure that VX is being distributed correctly. The only way to do this absolutely correctly is by checking ViteX’s code, which is open source. Obviously one can also check the math from the ViteX dashboard, although this won’t help you be sure of the total trading volume.

    The issue with listing major coins is that they’re already traded on much more liquid platforms, and it’ll be hard to bring the volume over. It hurts the exchange more to have un-traded coins despite their prominence.



  • @巴山夜雨
    We always have about 12 months of runway in fiat, and then keep the rest of the treasury in crypto.

    Because of various recent factors (crypto price increase being a major one), our financial situation has only been strengthened.

    We recently also received a questionnaire from one of our exchanges, a financial health checkup, if you will. And we easily passed the “inspection.”

    Biggest challenges: Continuing to source coins/liquidity for ViteX, and designing Vite 2.0 to be both technically advanced and also practical in implementation.



  • @slimcan said in Vite Labs Leadership AMA (Sep 10, 2020) - Post your questions here!:

    Regarding smart contract upgradability - we published a notice at the beginning of this quarter about changes to our roadmap. This item has been de-prioritized because of ViteX-related tasks and Vite 2.0.

    We can do 2000 TPS and that’s more than sufficient for the operations we support now.

    We sustained a DDOS attack, which we countered via various tech mechanisms on our side. I don’t want to go into specifics to avoid tipping off the attacker.

    Our engineering team did an internal postmortem and I think we’re in a good place.

    Also, note that the attack was faking many legitimate requests in hopes of paralyzing our various services. The attack would NOT be able to steal coins in wallets.



  • @Richard_Yan

    1. I actually tried responding in the telegram group about this one. I wasn't asking because I was worried about VX being distributed correctly, I just think it would be beneficial to be able to easily see the VX mined from specific trades and/or market-makers so you can determine if one mining method is working better for you or not.
    2. I understand that. I was actually drawn to ViteX because I was interested in the crypto listings since they weren't on other exchanges.

    I appreciate the responses!


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