Vite Bi-weekly Report Oct 16–31, 2019

Oleg

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Recent Milestones & Community Events

On October 23, the VX release curve was voted on the first time. According to the plan, option 2 — low supply with slow release had the highest votes. We are currently having the 2nd round of vote. Result will be announced soon. https://medium.com/vitelabs/vote-of-vx-release-curve-7fc9ed304590
On October 25th, OKEx mining pool has officially joined as Vite SBP (named okexpool). Users will be able to stake VITE on OKEx mining pool to earn rewards in the future.

System Developments

go-vite

Solved the problem of vm frequently creating and destroying objects during synchronization;
Determined the built-in contract logic optimization for the coming hardfork in November, including:

Removing the verification that the total circulation is equal to or greater than the base supply;
Total supply for newly minted coins is now allowed to be zero;
Separation of SBP owner permissions and token reward withdrawal permissions;
*Removing the consensus group id from consensus-related contract method;
Changing staking quotas, such that multiple staking requests aren’t merging.

Go-vite to be released pre-release version:

Fixing problems with data errors in synchronization
Solving the problem that vm frequently creates and destroys big.int during synchronization

**#anchor(Vite Wallet APP)

Completed:**

iOS V3.1.0 and Android V3.1.1 were released, with these new features: switching transaction pairs, trading pair search functions
Web Exchange: Switching transaction pairs, asset transfers, historical order screening
ViteJS has released 2.3.0-alpha.1. For details see the last bi-weekly report

In Progress:

Web Exchange 3.1.0 Optimization: Without logging in, users can now interact with the buy/sell module
Android Grin research feasibility is completed, wallet development progress at 40%
Overall network acceleration solution design and development for App and Web wallet

ViteX Exchange

Increased the scalability of OpenApi service;
Optimized parameters of server API deployment;
New feature requests for “market making is mining (for sell orders)” have been implemented and are undergoing internal testing;
The optimized and re-structured version of “market making is mining” is undergoing internal testing;
New requirements for the DEX smart contract:

Vite dividend pool optimization development is 80% complete
VITE in the dividend pool has been completely burned; the staking as mining ratio is adjusted to 10%
Release curve logic is undergoing development, at 90% completion
Vite Labs Gateway supports receiving ETH transfers from smart contract.

Activities

Vite Labs CEO Charles Liu was invited to participate in the 2nd World Blockchain Conference, with hundreds of global blockchains, digital assets, AI, 5G experts, scholars, thought leaders in Wuzhen, Zhejiang Province in China. The conference will focus on the application of blockchain, frontier technology, industry trend, and empowering blockchain innovation.

alt text Richard at SFBW

From October 28th to November 1st, 2019, COO Richard Yan and CSO Chris Li participated in the San Francisco Blockchain Week, and discussed with industry stakeholders interested in joining the Vite ecosystem. These individuals come from areas such as stablecoins, crypto derivatives service providers, decentralized finance (DeFi), and centralized exchanges.

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