Vite Labs Leadership AMA (Jul 22, 2021) - Leave your questions here!

  • Are there any plans to rework UI for VITEX exchange ?

    1. does a full node store just a ledger of all accounts or does it store a ledger of all accounts and the snapshot chain?

    2. during local consensus, is a tx block verified by just 1 full node or a small group of full nodes?

    3. after local consensus, are the local results broadcasted to the SBPs?

    4. how does an sbp go about selecting which blocks to add to the snapshot?

    5. after creating the snapshot, does the sbp broadcast it to all full nodes and each full node then verifies the snapshot?

    6. what does a full node check before accepting a snapshot block? Is this step called global consensus?

  • What is the difference between Thorchain's Bridge and ViteBridge?

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  • Oct 2020 team told about listing vx.
    Any possibility of listing vx soon?

  • vx team manipulating vx price? APY vx varied from 70% to 20% , decrease in exchange volume, decrease in dividends , also APY decreased to increase Vx value.

  • The value(price) of the Vite that the development team thinks after a year? Value?

  • Why doesn't the team build its own viteswap? Why fund the community to do it? Who exactly is working on it and how long have they been working on it? I'd have more faith in viteswap if the team creates it. Also, what measures will be put in place to prevent a rug pull?

  • Are there any plans to burn VX by having monthly buybacks ?

  • How liquidity of vitex can be improved? Only vx pairs have liquifity and that is not real liquidity. Only few wallets buy & selling with each other. What are the reasons vitex was not able to attract traders? And what steps in future team will take to improve liquidity?

  • What would the fee to link Eth from metamask to vite bridge? Normal eth transaction fee or something less?

  • Today the gateway operators have full control of the funds for the coin they operate in the wallet.

    • Will Vitebridge correct this security issue and if yes at what moment will it be implemented as it seem there are multiple step in implementing Vitebrige?

  • vite did partnerships with ferrum, okchain & kda. Still partnerships valid? And in what tasks they working together?

  • I understand that 100% of vitex revenue goes to vx stakers, but it would be better for vx and its holders if 3-5% is used to market buy vx on this dex and burn it each day. So instead of getting 100%, vx stakers get 97-95%. Adds value and liquidity. Buying pressure will create selling pressure. Without some kind of burn, vx will behave like a fiat.

  • Solana claims it can do 50000 tps using proof of history. What does the vite team think about this? If it's truly that powerful, could the vite team combine quota and poh to make a feeless and extremely fast protocol?

  • Vite is a protocol coin like Eth and vx is a exchange coin like bnb. It would be more appropriate to stake 1000 vx, and not 10000 vite, for VIP status to get reduced fee. This would make vx a utility and ownership coin, more special than bnb, which is just a utility coin. Vite is already staked for quota and burned when a listing is created or when trading fees gathered in trading pairs with vite. It may be better to make reducing fees solely for vx to give it utility.

  • We could also have trading fees reduced if paid with vx, the same way bnb does it. 1/5 of these collected vx could be burned and the rest goes into the dividend pool. This would make vx more valuable than staking 1000 vx for VIP status. Also more fair because small buyers may not be able to afford 1000 vx. Bnb method has been shown to work.

  • In vite bridge, what will relays nodes set up by an operator do? Also, since the operator can't touch the funds, why is slashing involved?

  • For a coin created on vite to be traded, it needs the support of an operator with some sort of screening. And being an operator also need some sort of screening from Vitex.
    It seems the network is not so open, while other network with DEX because it is really decentralized, anyone can create a coin and trade/swap with liquidity provided by the creator or anyone else.
    This is what make a network popular and used by the mass, for better and for the worse.

    • Will Vite change this in the future? or allow the possibility to swap any coin created on Vite if liquidity is provided?

  • If/when vite becomes popular and needs to scale more, will it consider using sharding to increase its tps?

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