Hello Vite Fans!
We truly appreciate your trust in Vite Labs and contribution to our community!
Now over 700 full-node operators have participated in Vite TestNet since we launched the first round of SBP Ecosystem Incentive Plan, simultaneously there are over 500 full-node operators in a stable status, which boosts the strength and tenacity of Vite Ecosystem.
We want more full-node operators to join in Vite Labs and build a much broader consensus together. Therefore Vite Labs decides to increase the rewards for full-node operators on Vite TestNet.
The former incentive plan:
All rewards mined by the 5 official SBPs will distribute to the community with 30% of those rewards sending to full-node operators, base amount around 5,000 VITE per day.
Since it had accumulated 92,000 VITE on Vite TestNet after Vite Labs running its 5 SBP (Snapshot Blocks Producers), Vite Labs is currently distributing to full-node operators at the increase of 40% comparing to the base amount. ( i.e. 5000 VITE x 1.4 = 7000 VITE)
The previously accumulated rewards have been distributing to full-node operators from Dec. 13, 2018, and will last until Jan. 22, 2019. However, It is set to recover to the base amount after finishing these distributions.
Upgraded incentive plan:
Vite Labs is going to distribute rewards by double the percentage (30%) of all rewards mined by the 5 official SBPs, which means 30% x 2 = 60% or 5,000 VITE x 2 = 10,000 VITE.
To make up the additional 30% of rewards, Vite Labs is going to deduct from the previously accumulated rewards and then the planned amount for airdrops and marketing.
Rewards will upgrade on 12:13 (UTC+8) Jan. 18, 2019.
- Currently, the daily base amount is around 5,000 VITE, and the exact amount shall calculate in accordance with the mining of Snapshot Blocks Producers.
- Rewards will adjust accordingly in the stage of Vite TestNet. Please stay tuned on Vite Forum. (forum.vite.net)