SBP Ecosystem Incentive Plan is Formally Launched



  • Introduction

    Within a week of launching the Vite TestNet, we added around 30 SBPs. Thank you all for your participation!

    In order to further motivate SBPs to develop their own ecosystem, and reduce the challenges in operating a SBP, we are releasing an SBP ecosystem incentive plan, which consists of three parts: Cost Reduction, Resource Sharing, and Additional Rewards.

    Cost Reduction

    Lower requirement for server configuration. After recent tests of SBP operations, we are adjusting our recommendation for server configuration. We deem that the previous configuration of 8-core 16G RAM is no longer necessary. We have found that, a server with 4-core 8G RAM is able to run stably.

    The requirement of 100M bandwidth has also been updated. It is currently recommended that the SBP can be based on dynamic bandwidth. In terms of future stress test, there may be an increase in traffic. You will be notified to prepare for any bandwidth.

    Resource Sharing

    To help SBPs grow, Vite Labs will provide assistance in the following manner:

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    Additional Rewards

    Additional rewards will be provided on a weekly and monthly basis. And ranking of contributions will also be released for SBPs that are helpful to the community.

    Weekly rewards. We will provide rewards for marketing of Vite, growth of its community and development of the ecosystem. We will be accepting submissions for proposals of contribution ideas to the Vite Foundation. If approved, you will receive double one full week’s worth of block-producing rewards (see our Medium post for an explanation). We will showcase both your proposal and your reward to the entire Vite community.

    Monthly rewards. In addition, every month, we will select the top TWO entries from all approved projects. These projects will each receive an additional reward equivalent to their block producing reward in that month.

    Ranking of contribution. We will also reward points to approved projects. Rankings of points received by projects will be posted to all communities, and approved projects will be announced on the official website. Initially, the awarding of points will be judged by Vite Labs. In the future, such responsibility will be handed off to the community.

    Below see more details of what proposals will be accepted, a schedule for rewards releases, and details for launching the additional rewards program.

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    Submissions of Proposals

    The above SBP community building incentive plan is only open for the SBPs that have submitted an application form through vite.org, and whose SBPs are currently in operation. If no SBP application has been submitted, or the SBP is not currently running, please complete those requirements prior to submitting a proposal. After the requirements have been fulfilled, contact the Vite Foundation through the email noted on the application form.

    There will be a sponsorship function open on the SBP website. Each SBP will need to submit an address in order to receive tokens. Everyone in the community is encouraged to endorse to all SBPs.

    Rewards Schedule

    SBPs will have the opportunity to submit their community building proposal to the Vite Forum by 11:59pm of every Wednesday. The result will be announced every Friday. On the first day of the second week, the calculation of the doubled rewards will last for seven days. Such rewards will be released on Monday of the third week of the month.

    Projects approved will be posted on the SBP webpage. The corresponding SBP credits will be added according to the type of contribution.

    Rewards will go directly to the beneficiary address of the SBPs. (Proposals can be submitted in advance, or it can be submitted afterwards. However, credit will be reduced if the submitted proposal is not executed)

    Every month, we will select the top TWO entries from all approved projects. These projects will each receive an additional reward equivalent to their block producing rewards in that month.

    Launch of Additional Rewards

    The 1st proposal will start on the week of December 17. SBPs have to submit proposals to Vite Forum before December 19.

    Please make sure that the subject of your post follows this format:
    Title: [SBP Proposal] [SBP Name] — [Proposal Date] — [Headline of Proposal]
    (Example: [SBP Proposal] Vite_SBP02 — Dec 13, 2018 — How to grow Vite community in Southeast Asia)

    Content: Photos + words. Please briefly describe the project. The project may be a future project, an ongoing effort, or something that you already completed. In addition, please also describe why your project offers unique and significant value to the Vite ecosystem. If it is a long-term project, please highlight the roadmap and past milestones.

    Disclaimer

    The reward program only lives in the Vite TestNet. There may be revisions to the rules in the future. Vite Labs reserves the right of final interpretation of the rules.


  • Reward

    Got it,there will be a excellent plan shared in the Chinese forum which made by the Bite superblock producer ,and there will be more ideas coming for the future!


  • Reward

    Thank you for the valuable information.


  • Reward

    good plan for SBP


  • Reward

    good plan



  • How to buy enough 500k Vite on exchanges now?


  • Reward

    How to join this program?


  • Reward

    Do you guys plan to list Vite on Idex?


  • Reward

    @felicity I believe OKex.com will work



  • @Choeriswangqiji I don't think so, 500K is a big no, unable to buy on OK


  • Reward

    @felicity You can buy VITE every day. ☺



  • @falconite they already listed their long time ago without Vite's knowledge I suppose



  • @Choeriswangqiji haha it will eliminate my time of running sbp


  • Reward

    The more coins locked higher the price.Yes liike it very much.



  • @sandunfernando Vite big holder here? Vite logo as well too lol


  • Reward

    @felicity You mean me.Ha ha I'm not a big holder but I won the vite ico quize.



  • @sandunfernando yeah lucky for you cus I belive Vite is a big hodl and should be


  • Reward

    @felicity yes I will never sell by voting you can accumulate more vite.



  • @sandunfernando I vote but maybe the quantity is not big so not much reward lol


  • Reward

    @felicity
    Buy more vite


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