Vite Labs Leadership AMA (Oct 13, 2020) - Post your questions here!

  • Vite Labs Leadership AMA (Oct 13, 2020) - Post your questions here!


    1. when vx listing
    2. why team always lag in following roadmap
    3. why no separate roadmap for vitex
    4. why not operators interested in listing coins , why not increasing operators.

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  • When will ViteX be listed on major exchange 2020 or 2021?

    Will there be more future benefits for VX holders and Stakeholders?

    When VX is listed on a Major exchange will the PR release be widely spread and announced so that VX exchange can get the attention it deserves?

    What is there for us to look forward in defi for ViteX

  • When can we expect Open Finance implementation?

    1. what are legal obligation making trouble in vx listing?
    2. what is the progress of US city coin on vite ecosystem?
    3. progress fiat gateways implementation to vitex?

  • I notice the dividend pool has diminished from 33 BTC to 28.4 BTC in the last 30 days. Is this something the team are worried about? It’s quite an alarming rate as an investor, if it continued in 7 months or so Vitex would be bust...

  • what's the progress of TRX USDT integration now?

  • what's the progress of vitex gateway 2.0? What's the plan of it?

  • What's the effictive plan to bring liquidity. The vitex's users flow away day by day.
    Our products have lost much opotunities.

  • Hey Team - Thanks for setting up the AMA and making some time for questions. I'll likely have more, but for now:

    • Has there been any consideration in lowering the cross-chain withdrawal fees for outflow from the exchange?

    I realize there is some benefit to drive users to convert to vite in order to reduce the cost of outflow. However, with withdraw fees being so high, many people may see that and avoid Vitex altogether. When you have exchanges such as Binance that charge 0.005 to withdraw ETH and Vitex sits at 0.015 it gets a little absurd. I understand gas prices get high, and an increase could be justified. But on a regular basis it's just ridiculously/unnecessarily high.

    Same goes for BTC. And Same for USDT, etc. If I'm an EPIC holder (just a hypothetical) and it only trades in BTC; or if I'm a BAN holder and it only trades in ETH ... and I am considering using Vitex ... I'd definitely FIRST look at the withdraw fees before I move funds into Vitex. And if I didn't look, and then saw that, I'd be shocked at how cost-prohibitive the withdraw would be, and avoid in future.

    My point is, there is little upside (revenue) for high fees and significant downside. Perhaps you see it differently.


    1. On VX listing - we already have a Chinese exchange committing to list, and we are in the process of getting a non-China based exchange. It looks like some of the bigger exchanges are ready to soften their terms.
      I know this process is taking a while, and getting VX listed is a priority. But the team is seeking the biggest bang for our buck

    2. In terms of roadmap, I'm not sure I agree. In the latest CEO's letter, we clearly laid out that we hit most of our goals for Q3. And we delivered items not originally on the roadmap.

    3. Deliverables for ViteX are incorporated in the Vite roadmap. Examples include ViteX features and integration with open source trading strategy projects

    4. We have previously recruited new operators, such as chain hedge. Note that the work to keep an operator running is nontrivial. We are hoping that more operators will join with stronger awareness of ViteX over time

  • @T-Bomb

    VITE and VX holders can expect other benefits such as airdrops from strategic partners, such as Banano

    The act of listing VX on an exchange will be a powerful PR move. This is why it's important to get on a sufficiently big trading platform

    In terms of DeFi for ViteX - our original vision for Vite is to be the backbone of an Open Finance platform. Our recent zero-fee stablecoin swap is one important feature towards that end goal.
    Separately, some members have recently proposed ideas for AMMs on ViteX - and we're exploring this option

  • @interestedinvite

    ViteX is an integral part of Open Finance. Free stablecoin swap is a critical feature of ViteX.

    Separately, some members have recently proposed ideas for AMMs on ViteX - and we're exploring this option

  • @LanceLiu

    This is not currently on our radar. But we have been adding various kinds of stablecoins over time. So this could make it into our queue

  • LanceLiu said:

    what's the progress of vitex gateway 2.0? What's the plan of it?

    Please check our roadmap for this. The whitepaper will be done in Q4.

  • @hassan

    Listings of new coins, and planned listing of VX on other exchanges.

  • @RedTrain

    Great question. One diff b/w ViteX and Binance is that trading on ViteX gets you VX, from which you get distributions. This is a big difference with many exchanges out there.

    But let me talk this over with the team and see if there's anything we can do. I will follow up on this point, perhaps in the summary of the AMA, to be posted in the forum.

  • @karl637 The dividend pool was reduced in BTC terms partially due to the increase in BTC/USD. Remember, the trading fees are not always remitted as BTC.


    To list VX anywhere, the project needs to get the proper legal opinion for the right jurisdiction. That legal opinion can be quite expensive depending on the jurisdiction.

    SyraCoin pilot has been successfully completed. We have had a marathon of a conversation with the New York state on getting their applications on Vite chain. The process has obviously been extremely slow, to the frustration to my team and me.

    Fiat gateway - we found one entity that serves many exchanges and offers very reasonable commercial terms. Our engineering director is discussing implementation details with them

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