[ANN] Pairs DERO/BTC and ERG/BTC Enabled with MM as Mining, Extra Rewards Available



  • Starting 15:00 HKT(UTC+8) Feb 12, trading pair DERO/BTC and ERG/BTC will be enabled with Market-making as Mining.

    Moreover, traders will receive 5X VX rewards for one week on both Market-Making buy orders and sell orders placed within the mining range for trading pair DERO/BTC.

    The event will start at 15:00 HKT (UTC+8) on Feb 12 and end at 15:00 HKT(UTC+8) on Feb 19.

    Trading Pair MM Mining Range

    Screen Shot 2020-02-11 at 19.25.55.png

    Project Details:

    DERO: https://forum.vite.net/topic/2383/ann-dero-private-smart-contracts-dag-cryptonote-bulletproofs-ssl-pow?=1581419212825
    ERG: https://forum.vite.net/topic/2441/ann-erg-ergo-platform-a-resilient-platform-for-contractual-money-and-decentralized-finance?
    =1581419212829

    Note:

    The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.

    The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.

    Example

    Suppose that the BTC market has only DERO/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:

    Screen Shot 2020-02-11 at 19.25.43.png

    The mining calculation is conducted as follows:

    The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)

    The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn

    Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day

    Links:
    ViteX website:https://vitex.net/
    Vite APP Download:https://app.vite.net/
    Twitter:https : //twitter.com/ViteXExchange
    Telegram:https : //t.me/vitexexchange

    Feb 11, 2020
    Team ViteX


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