[ANN] 3X VX Rewards Available for Pairs ETH/BTC, BCH/BTC, BTC/USDT and ETH/USDT
Lee last edited by
Dear ViteX users:
Traders will receive 3X VX rewards for a week on both Market-Making buy orders and sell orders placed within the mining range for trading pair ETH/BTC, BCH/BTC, BTC/USDT and ETH/USDT. The event will start at 15:00 HKT（UTC+8) on Mar 20 and end at 15:00 HKT（UTC+8) on Mar 27.
Trading Pair Mining Range
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.
Suppose that the BTC market has only ETH/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:
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
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Mar 19, 2020