Vite Bi-weekly Report June 1–15, 2020

  • Vite Bi-weekly Report June 1–15, 2020


    Development Progress

    Vite App
    Vite App v3.7.1 has completed development and was submitted to App Store (iOS) and Google Play (Android) separately on June 10 and 15. The new version has the following updates included:

    1. Bug fixes.
      In version 3.7.0, Vite Android App may get stuck on trading page under slow internet connection, the problem is solved in 3.7.1. In addition, the new release also fixes repetitive popup notifications in trading page and unexpected app crashes during candlestick chart rendering.

    2. New enhancements:
      a. In the previous version, after a transaction is sent, a “Success” message is displayed on screen and the user has to manually close it. In order to improve user’s experience, in the new version the message box will show up for one second, then automatically closes.
      b. A new “limit of single withdrawal” hint is added to app’s withdrawal page. Users can hit on the “!” icon to view the maximum and minimum withdrawal limits for the selected cross-chain token.

    ViteX Exchange
    According to user’s feedback about the excessive long loading time of mining page and dividend page, special optimizations have been conducted to significantly improve the loading speed. Currently, cycles of 1 minute, 30 minutes, 1 hour, 6 hours, and 12 hours are supported in ViteX’s candlestick chart. We’ve added 2-hour and 4-hour as well. The new cycles will be available soon. In addition, we have upgraded the ViteX API service. In the upgrade, database schema and index are optimized, effectively reducing the latency of order querying and increasing capacity for large visits.

    The product design and visual design of the new official website have been completed. After development is done, will be present in front of everyone with a new look.

    Recent Milestones

    Vite Labs Partners with OKChain


    On Jun 4, Vite Labs announced an official partnership with OKChain in building together a decentralized trading ecosystem. As an ecosystem partner, Vite and OKChain will cooperate in the following aspects:

    1. Vite Labs will participate in the OKChain Supernode Plan, and OKEx will continue to operate the SBP(Supernode) of Vite.
    2. The two parties will jointly develop an open decentralized trading ecosystem, and share DEX operation and governance experience.
    3. Vite Labs will list OKChain’s native token OKT on ViteX exchange and support OKChain in Vite App.

    The cooperation aims to build a more open and fair-for-all cryptoasset trading ecosystem, which will contribute to the development of the entire blockchain industry.

    VITE listed on OKEx Korea


    On June 6, VITE got listed on OKEx Korea and pair VITE/BTC is actively trading in the market. VITE listing on OKEx Korea will further boost market liquidity and help the project to reach a larger global audience.

    ViteX Operator Bi23 Listed CGLD
    On June 9, ViteX Operator Bi23 listed CGLD (Celo Gold) and opened trading of pair CGLD/USDT. Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. CGLD (Celo Gold) is a utility and governance asset for the Celo community, which has a fixed supply and variable value. With CGLD, you can help shape the direction of the Celo Platform.

    Data on VITE and VX

    • As of June 15, 18,932,417 VITE have been burned through ViteX, accounting for 1.89% of total issuance.
    • 137,740,453 VITE are staked on ViteX, accounting for 13.7% of total issuance.
    • 7,737,734 VX have been released, of which 7,100,355 VX (about 91.76%) are being staked for dividends.
    • To-date, 64.9 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 31.8 BTC.

    Our COO Richard released a new episode of the Blockchain Debate Podcast. The latest debate topic is “Motion: Corporate bailouts and capital market rescues make sense, Part 2.” The guests are Nick White, co-founder of Harmony and Jonathan Padilla, head of Blockchain from Paypal. The discussion is around the legitimacy of QE by global central banks and bailouts of essential businesses by governments around the world. Cryptocurrency was born out of concerns for currency debasement and invisible tax as a result of these policies. As such, this debate is directly related to the existential reason for cryptocurrency.

    As previously mentioned, this podcast is one way for us to expand our brand recognition and network with industry thought leaders.

    Our COO Richard also ran a new regularly-scheduled community AMA. The purpose of the AMA is to increase our transparency and quickly iterate product features upon the community’s suggestions. As such, we will continue to conduct these AMA sessions.

    We provided detailed response to questions from the community. See transcript here: The questions fall in these three categories:

    • Status update of Q2 roadmap
    • Marketing and evangelism of ViteX
    • Details of partnerships with other projects

    Vite had an internal community manager hangout with participation from our core community managers (English, Russian, Vietnamese, Arabic), where we jointly planned on multiple marketing campaigns. These campaigns include AMA with the communities at well-known exchanges and contest for coin-listing recommendation.

    We sent a survey to the community in regards to local economies. 104 members from 30 countries responded. Per this research, we saw a positive correlation between interest in crypto from high net worths and the deterioration of economic situations. A whopping 30% of respondents are highly suspicious of the integrity of local banking systems. Venezuela, Nigeria, Russia, Turkey and Ukraine are experiencing severe inflations. In particular, daily groceries in Venezuela are quoted and settled in USD, and local residents regularly convert from fiat to crypto. Here’s the summary of the research:

    Recently, members of our international community created multiple social media accounts to help Vite with marketing, for which we are deeply thankful!

    Here are a few examples:


    ViteX Official:
    Vite Forum:



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