A good quality logo is easily worth thousands of dollars.
If you want proper community engagement you should consider offering decent rewards.
A few thousands Vite should be the bare minimum imo.

As for feedback on the proposed logos, try to not have too many details, because they don't scale down (look bad as icons). And if possible I'd try to have something that can be associated quickly with the Vite logo. I really don't understand the relation with bees...

Can you make a quick tutorial for the DEX? like if I trade something against BTC or , it's not actual BTC or ETH but a Vite Token. This should be made clear.

If I click on the BTC TOKEN link I get an error

Hello,

Trading fees at 0.5% is not reasonable. Are you sure it's not a typo for 0.05%? No trader will use an exchange with such high fees.

If you need advice/recommendation from a crypto trader for anything related to your exchange (UI/UX, fees model, etc.) don't hesitate to contact me, I'll be happy to help.

Cheers

@Choeriswangqiji said in More Details about ViteX Economic Model:

@Krillin It is reasonable. LET Me tell you why. First as mentioned above, all transaction fees will be distributed to the VX holders, in other words, ViteX will not take any of your crypto assets. Even though, ViteX will take 10% of every transaction fees as already published in this article, which means 10% * 0.5% = 0.0005 (0.05%) as a transaction fee (that will be 100x higher in other exchanges)

I don't understand your sentence, sorry, can you rephrase?

@nik12 ah yes I just want neither. All I'm saying is that ViteX needs competitive fees (below 0.1% like most exchanges), otherwise I don't see why anyone would use it.
Your post below is great summary, good job.

@Choeriswangqiji I think people who want to buy VITE with BTC in my example just want as much VITE as possible. They don't want VX.
If the purpose of VX is only to be able to get more VX it's just pointless.
If you want to build an efficient exchange you will need to be advised by experienced traders. Don't build a whole exchange based on assumptions, ask the traders what they think is best.

CoinEx exchange implemented a very similar "trade mining" system with their CET token and it was a complete disaster.
Hotmine exchange also implemented something very similar with their HMT token and they exit scammed.

@Choeriswangqiji sorry but you're totally missing the point.
If I want to buy VITE with BTC on the DEX, you will take 0.5% of the amount of VITE I am purchasing. And this is not acceptable.

A good quality logo is easily worth thousands of dollars.
If you want proper community engagement you should consider offering decent rewards.
A few thousands Vite should be the bare minimum imo.

As for feedback on the proposed logos, try to not have too many details, because they don't scale down (look bad as icons). And if possible I'd try to have something that can be associated quickly with the Vite logo. I really don't understand the relation with bees...

Can you make a quick tutorial for the DEX? like if I trade something against BTC or , it's not actual BTC or ETH but a Vite Token. This should be made clear.

If I click on the BTC TOKEN link I get an error

Looks like you created something cool!

@nik12 ah yes I just want neither. All I'm saying is that ViteX needs competitive fees (below 0.1% like most exchanges), otherwise I don't see why anyone would use it.
Your post below is great summary, good job.

@Choeriswangqiji said in More Details about ViteX Economic Model:

@Krillin traders collecting VX is to get BTC, ETH, VITE in return. Not VX.

What do you mean by that? Two hours ago you were saying I would receive VX in return... now you say the opposite.

@Choeriswangqiji said in More Details about ViteX Economic Model:

@Krillin Yes, and how about you will receive some VX in return and you will receive dividends every day since then? So what do you think?

@Choeriswangqiji I think people who want to buy VITE with BTC in my example just want as much VITE as possible. They don't want VX.
If the purpose of VX is only to be able to get more VX it's just pointless.
If you want to build an efficient exchange you will need to be advised by experienced traders. Don't build a whole exchange based on assumptions, ask the traders what they think is best.

CoinEx exchange implemented a very similar "trade mining" system with their CET token and it was a complete disaster.
Hotmine exchange also implemented something very similar with their HMT token and they exit scammed.

@Choeriswangqiji sorry but you're totally missing the point.
If I want to buy VITE with BTC on the DEX, you will take 0.5% of the amount of VITE I am purchasing. And this is not acceptable.

@Choeriswangqiji said in More Details about ViteX Economic Model:

@Krillin It is reasonable. LET Me tell you why. First as mentioned above, all transaction fees will be distributed to the VX holders, in other words, ViteX will not take any of your crypto assets. Even though, ViteX will take 10% of every transaction fees as already published in this article, which means 10% * 0.5% = 0.0005 (0.05%) as a transaction fee (that will be 100x higher in other exchanges)

I don't understand your sentence, sorry, can you rephrase?

Hello,

Trading fees at 0.5% is not reasonable. Are you sure it's not a typo for 0.05%? No trader will use an exchange with such high fees.

If you need advice/recommendation from a crypto trader for anything related to your exchange (UI/UX, fees model, etc.) don't hesitate to contact me, I'll be happy to help.

Cheers