Dear ViteX Users,
Please note that the Cross-chain deposit address for the following coins: BTC, ETH, USDT, BUSD, and ANKR, has been changed after a previous ViteX system upgrade.
Make sure to use the most recent updated address to avoid delays in deposits; assets and trading are not effected by this change.
We apologize for any inconvenience this may cause you.
Sincerely,
Team ViteX
Dear ViteX Users:
In order to keep up with the upcoming GRIN Hard Fork, cross-chain deposit and withdrawal of GRIN will be temporarily disabled at 13:00 (UTC+8), January 14.
To secure your assets, please make sure all cross-chain transactions are completed ahead of the upgrade. GRIN functions will be restored as soon as the upgrade is completed.
We apologize for any inconvenience this may cause you.
January 13, 2020
Team ViteX
Dear ViteX users:
Trading Pair TRTL/ETH will be enabled with market-making as mining starting 15:00 HKT (UTC+8), January 9.
A special mining event of receiving 5X MM VX rewards on TRTL/ETH trading pair will go live at 15:00 HKT on January 9th, and ends at 15:00 HKT on January 16.
Mining range for TRTL/ETH trading pair
Note:
The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.
The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.
Example›
Suppose that the ETH market has only TRTL/ETH trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:
The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)
The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn
Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day
January 8, 2020
Team ViteX
To encourage mining, ViteX will be adjusting mining range for selected trading pairs based on trading demand.
Currently mining rewards account for 10% of the total VX release on each giving day, with BTC trading market taking 5%, ETH and VITE trading market each taking 1.5%, and USDT trading market taking 2%.
Starting 15:00 (UTC+8) on January 8th, mining range will be increased by 5% for the following trading pair, details are as follows:
Adjusted mining range for selected trading pairs of BTC
Adjusted mining range for selected trading pairs of ETH
Adjusted mining range for selected trading pairs of VITE
Adjusted mining range for selected trading pairs of USDT
Note:
The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.
The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.
Example
Suppose that the BTC market has only PEG/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:
The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)
The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn
Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day
Jan 7, 2020
Team ViteX
Trading pair BIS/BTC will become eligible for Market-Making as Mining starting 15:00 HKT (UTC+8) Jan 3, 2020.
Eligible Mining Range
Note:
The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.
The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.
Example
Suppose that the BTC market has only BIS/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:
The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)
The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn
Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day
Jan 2, 2020
Team ViteX
Starting 15:00 HKT（UTC+8) Jan 3, traders will receive 5X VX rewards for both Market-Making buy orders and sell orders placed within the mining range for trading pair XBG/BTC.
The event will last for one week and ends on Jan 10, 2020.
XBG/BTC Trading Pair MM Mining Range
Note:
The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.
The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.
Example
Suppose that the BTC market has only XBG/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:
The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)
The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn
Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day
Jan 2, 2020
Team ViteX
Dear ViteX users,
In order to keep up with the upcoming Ethereum Muir Glacier hard fork, cross-chain deposit and withdrawal of ETH and all ERC-20 tokens, also ETH to VITE instant purchase function will be temporarily disabled on 2nd Jan 2020 before the block height reaches 9,200,000.
To secure your assets, please make sure all cross-chain transactions are completed ahead of the upgrade. All functions will be restored as soon as the upgrade is completed.
We apologize for any inconvenience this may cause you.
ViteX team
December 31, 2019
Dear Users,
We will be making the following adjustments to VX allocation of Market-Making as Mining to further optimize the incentive mechanism.
Market-Making as Mining reward is still allocated with 10% of daily released VX.
However, instead of each market (BTC, ETH, VITE and USDT) being weighted equally at 2.5%, the adjusted market allocations are as follows:
BTC market: 5%
ETH market: 1.5%
VITE market: 1.5%
USDT market: 2%
The new allocation will be put into action starting 15:00 HKT (UTC+8) on Dec 30, 2019.
Dec 27, 2019
ViteX Team
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
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Twitter: https://twitter.com/vitelabs
Telegram: https://t.me/vite_en
To further optimize and incentivize our users, rules of Referring as Mining on ViteX have been modified.
Updates are as follows:
Referees will receive the following benefits:
Spend 1,000 VITE to generate an invitation code and become a qualified referee (1,000 VITE payment will be burned)
Receive a weighted 5% of invited users' Trading as Mining rewards
Receive a weighted 2.5% of invited users' Market-Making as Mining rewards
Invited users will receive the following benefits:
An extra 2.5% of occurred trading fees being counted towards Trading as Mining rewards calculation
An extra 1.25% being counted towards Market-Making as Mining rewards calculation
10% off total trading fees, including operator fee and base fee
Dec 19, 2019
Team ViteX
Dear ViteX Users:
To support the Ethereum Istanbul Hard Fork, all ETH and ERC-20 token related services were temporarily disabled on Dec 7.
All functions, including cross-chain deposit/withdrawal of ETH and ERC-20 tokens and ETH to VITE instant purchase, are now restored.
We apologize for any inconvenience this may have caused you.
Regards,
ViteX Teams
Dec 8 ,2019
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Instagram: https://www.instagram.com/vite.labs/?hl=en
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram: https://t.me/vite_en