VX Release Curve Poll Results

[Oleg]

A couple weeks ago, we began collecting suggestions for revisions to the VX release curve from you — the community. Altogether, we received about 20 suggestions for modifications to the release curve. Thank you to everyone that chose to participate in ViteX community governance by providing us your valuable suggestions and references.

Below, we combined & summarized your suggestions into four main groups of VX release curves. As you browse through the different options, we would love hear your feedback, so feel free to discuss between yourselves in Vite’s Telegram groups, message your community managers, or message the Vite team directly over the course of the next week. Afterwards, on Oct 16, we will begin voting for these options.

The Four Options

• Option 1 (low total supply & fast release): <50 million total VX supply with 2 year release schedule.
• Option 2 (low total supply & slow release): <50 million total VX supply with 5+ year release schedule.
• Option 3 (high total supply & fast release): 100 million total VX supply with a 2 year release schedule.
• Option 4 (high total supply & slow release): 100 million total VX supply with 5+ year release schedule.

At a quick glance, the daily release VX curve for each of these options are summarized below. Please note that these curves are only examples with assumed parameters for total supply and release period.

Daily VX release curves for Options 1 through 4

The corresponding cumulative release curves are provided below. Again, please note that these curves also only examples with assumed parameters that are subject to change.

Cumulative VX release curves for Options 1 through 4

Option 1: low total supply with fast release

In this option, the total amount of VX released will be <50 million and all VX will be released in about 2 years.

Example. Assume total VX supply of 20 million with a 2 year release schedule. The first two months see a rapid increase at a rate of ~3% per day, with 10,000 VX released on the first day to 57,200 released on the 60th day. After the 60th day, the daily release rate decreases to a rate of ~0.26% per day, with 57,054 being released on the 61st day to 10,366 on the last day. By the end of the first year, the cumulative amount of VX released will be 13,749,511.

Option 1 Release Curve Example

Advantages

1. This release curve is conducive to the community’s confidence in VX price performance, which is helpful for the VX price stability.
2. During the early release stage, more users will be incentivized to participate in VX mining activity, since large amounts of VX will be given out daily.
3. This model benefits early ViteX adopters.

Option 2: low total supply with slow release

In this option, the total amount of VX released will be <50 million and VX will be slowly released during the course of 5+ years.

Example. Assume total VX supply is 20 million with a 10-year release schedule. On the first day, 10,000 VX is released, and each day after the amount of VX released decreases at a rate of ~0.039%. On the last day, 2,475 VX is released. By the end of the first year, the cumulative amount of VX released would be 3,414,307 VX.

Option 2 Release Curve Example

Advantages

1. The gradual reduction in the amount of VX released is conducive to the stability of VX price.
2. Slowing down VX release is beneficial to the long-term development of ViteX, as later adopters can still participate in ViteX and VX mining.

Option 3: high total supply with fast release

This option would be similar to the original plan, with 100 million VX set as the total supply released over a period of 2 years.

Example. Assume 100 million total VX supply to be released over 2 years. The first two months see a rapid increase at a rate of ~6.8% per day, with 10,000 VX released on the first day to 477,032 released on the 60th day. After the 60th day, the daily release rate decreases to a rate of ~0.5% per day, with 474,676 VX being released on the 61st day and 17,036 VX released on the last day. By the end of the first year, the 82,552,528 VX would be released.

Option 3 Release Curve Example

Advantages

1. This release curve follows the original plan and will have largely the same benefits as described in previous articles.

Option 4: high total supply with slow release

The total VX supply would be set to 100 million with a 5+ year release schedule.

Example. Assume the total VX supply to be 100 million to be released over the course of 5 years. The first two months see a rapid increase at a rate of ~3.7% per day, with 10,000 VX released on the first day to 87,760 VX released on the 60th day. After the 60th day, the daily release rate decreases at a rate of ~0.058% per day, with 87,710 VX released on the 61st day and 31,839 VX released on the last day. By the end of the first year, the cumulative amount of VX released would be 26,733,873 VX.

Option 4 Release Curve Example

Advantages

1. The total amount of VX remains as originally promised, while prolonging the release of VX is beneficial for ViteX users that join the platform later on.

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[super]

My point of view on this:
any of the fast release options are a no go because DEXes are not ready yet to be used on a daily basis. At this point, the real trading on VITE DEX is very low. A fast release will benefit only the early holders and the people who market-buyed mined VX but for the people who will come, they'll be in a high disadvantage.
A fast release has only disadvantages because the price of VX will be extremely volatile due to the high amount of tokens released daily and low buyers. A slow release has more benefits for the long run (stability in price, time for VX to be discovered by new people and many more)
I'd opt for the 5 year release with the 50milion VX.

[yxyhack]

@super said in VX Release Curve Poll Results:

My point of view on this:
any of the fast release options are a no go because DEXes are not ready yet to be used on a daily basis. At this point, the real trading on VITE DEX is very low. A fast release will benefit only the early holders and the people who market-buyed mined VX but for the people who will come, they'll be in a high disadvantage.
A fast release has only disadvantages because the price of VX will be extremely volatile due to the high amount of tokens released daily and low buyers. A slow release has more benefits for the long run (stability in price, time for VX to be discovered by new people and many more)
I'd opt for the 5 year release with the 50milion VX.

I cannot agree with you more!

[Ecoinomical]

Option 2 (50M supply over 5 years) seems best for all participants now and in future.