One year after!
Hey Vite team,
It is now one year since you launched your network, and I see :
Zero private company engaged with Vite devlopement
Zero dapps (but games based on your code)
Less SBPs (46)
Zero Marketing effort
I follow other DAG networks, Vite has the fastest technical development, but for sure the worst bizdev and communication.
The only person we can talk with is your CMs. CMs are not techies, not sales, not team. So we always have poor answers.
Impossible to understand the vision, your roadmap ends this Q.
The asset price is down 92% since the pre-sale, and down 75% since the launch of vitex.
How do you plan to bring more people to Vite?
They have partnership with Harmony, Ankr. They are developing the most huge dapp called ViteX. Regardless the increase in price Nik
and they are always on Discord to talk with you prefer
Vite is Ankr's client. Harmony will list their assets on Vitex, it's just an operator client.
True for Vitex, a BIG dapp built on top of vite network, but it's made from the team... And with their 0.25% basic fees, we see that it does not seduce operators. It's quite impossible to make money as an operator, but if you propose high listing fees. The propose of a dex is to list assets for quite nothing.
@nik12 what partnership are you expecting?
nik12 last edited by
It's the question I ask to the bizdev manager, if any!
KhunSir_Vite last edited by
Hi @nik12 . Thanks for paying attention to Vite project. To answer your questions, yes we are heavy on development and most of our team are engineers. That does make our development fast.
For business development, we did some progress and will do more in the next year for sure. We will post a new plan + roadmap for 2020 soon.
Our CMs are part of our team. They are all originally from Vite community. And based on the feedback, they serve the community much better than many of other projects.
The price of VITE did drop a lot, but so were other altcoins. Apparently we cannot control the market and the price. But we think the project with the real technology and bring real value with last long.
Again, thanks to your support and we welcome all voice from the community. Hopefully I answered your questions.
Krillin last edited by
Same I'm giving up on Vite. It has good tech but it doesn't matter if your competitors are the one being adopted, and getting all the spotlight.
Vite had the first mover advantage by offering a DAG with smart contracts before all others. It was the perfect timing to promote the mainnet launch and attract all Dapps developers who needed a DAG rather than a classic blockchain. But there was absolutely no marketing efforts in that regard. A big Solidity++ hackathon with nice prizes, how hard would have it been?
Oh well, it was a fun ride, maybe it will pump when OKEx will have accumulated enough tokens
Richard_Yan last edited by Richard_Yan
Thanks for your messages. I too share your frustration in various fronts, but allow me to offer some more context for our "performance":
On partnerships - It is unfortunately against our team's DNA to pursue meaningless collaborations, where projects "shake hands" with no real plans to work together. I don't need to name names, but there are many "prominent" projects that have gone down this path, where usage of Azure is considered "collaboration with Microsoft," and no substantive development happens after a sophisticated joint press release. I don't fault folks for being attracted to such tactics and projects that employ them, but as mentioned, our team simply isn't predisposed to such an approach.
As far as hackathons go, one of our friendly competitors spent millions of US Dollars rewarding developers to build dapps on top of their platform. They did get a large number of apps made, but retention was poor. And this effort ultimately did not translate into significant purchase of coins, or a boost in coin value, which for better or worse seems to be the ultimate metric for a project's standing these days.
We made a conscious effort to focus on the tech, and building a public chain is a truly arduous undertaking. This is why, as @nik12 correctly pointed out, that our technical development is by far among the fastest of all DAG networks. If making such trade-off of tech over marketing, and substance over fluff ultimately doesn't land us in a good place, then that is a consequence we are willing to accept.
As a refresher of our thinking on strategy - It has long become obvious to us, that the best product market fit in the crypto space is money-related business. Hence our focus on DEX (trading of value), multi-chain wallet (storage of value) and Vite Pay (exchange of value for goods & services). And soon, we will be tackling DeFi as well, to facilitate decentralized borrowing and lending in the Vite ecosystem.
There was some mention of enterprise adoption. We have successfully co-authored with the American city of Syracuse a whitepaper and began a pilot program ("SyraCoin") with them. In relation to this, we recently visited New York State Assembly Member Ron Kim in his office, where we discussed with him the possibility of implementing his signature legislation proposal of Inclusive Value Ledger on the Vite platform, with the product resembling SyraCoin.
I hope my thoughts above are somewhat helpful to you. Of course, they won't change the coin price. But maybe, as I wishfully speculate, they will make a small difference in your understanding of the coin's value.
I do agree that our teammates and leadership can be more available in interacting with the community. Probably better to have more frequent short-form communication than this multi-paragraph rambling that I just managed to produce. I have communicated this to our marketing team and we will try to do better.
If it helps, I have become more active on Twitter (https://twitter.com/gentso09) these days. You are always welcome to interact with me publicly or DM me there.
And lastly, as I announced on Twitter, I will be making a podcast focused on blockchain debates, to supplement the vast amount of existing audio content that's all too often one-way communication, where speakers don't get enough push-back and audience members could use another perspective. I hope to network with crypto OGs, get Vite on the radar of other industry VIPs, and learn a thing or two during those conversations myself.
Libree last edited by
@Richard_Yan I'm excited about this sir!!
"Hence our focus on DEX (trading of value), multi-chain wallet (storage of value) and Vite Pay (exchange of value for goods & services). And soon, we will be tackling DeFi as well, to facilitate decentralized borrowing and lending in the Vite ecosystem."
Oleg last edited by
Hello @nik12! The answer depends on the question. I am always happy to receive detailed questions and try to answer them as informatively as possible, however, it is very important for me to rely solely on official information. All wishes and suggestions are transmitted directly to the team and reviewed, we are always open to discussions about the development of the Vite.
Thank you @Richard_Yan for your long answer. I can now better understand your vision. Do not hesitate to communicate more on that because this is full of sense. But if we don't know that, we cannot understand your vision. You said you have time, it's a luxury others don't have.
What is important to show is that Vite is here for the long run, and have a sustainable plan. We need to understand how Vitelabs will fund its development and what is the plan you follow.
nik12 last edited by
You are a good CM. CMs are important, my point wasn't to trash your job, you are precious.
Richard_Yan last edited by
@nik12 Glad to be of help. I will be sure to be more active in sharing my thinking down the road. I also talked to our CSO - he will come up with a plan for the leadership team to stay in closer contact with the community. And don’t hesitate to reach out in the meantime. Best way to find me is DM me at @gentso09 on twitter.
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