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    Posts made by Lee

    • How to Stake VX for Dividends

      VX holders receive dividends on staked VX.
      Users are able to stake VX through both Vite Wallet App (app.vite.net) or web exchange (x.vite.net). Staking guidelines and reward rules are as follows:

      • A minimum of 10 VX must be staked to receive dividends;
      • Participant is entitled to receive dividends starting the next distribution immediately after submission of staking request;
      • When retrieving stakes, the requested amount will be released after a 7-day waiting period. No dividend will be received during the waiting period.

      Users can enable automatic staking. Mined VX will be automatically staked once enabled, purchased VX is not subject to this function.

      Staking Guide
      Make sure VX are held in the exchange account before proceeding to next steps.

      Staking from Vite Wallet App
      93e37cf9-74f6-46e2-baa9-cad00e625e0c-image.png

      Staking from Web Exchange

      1. Login to your account

      2. On the trading page, go to Dividends and click stake
        9a76717b-cba6-456c-9550-56c642afde0c-image.png

      3. Put in the amount you wish to stake and confirm staking
        b0b5532f-4255-4c94-b9f8-0f8be88097b8-image.png

      4. View current dividend pool and earnings
        d6523a29-83ae-4887-a8e7-6adc306acaf7-image.png

      5. Retrieving will take 7 days
        801f9340-b647-4191-9a39-cc88bf0fddc4-image.png

      Team ViteX
      May 9, 2020

      posted in User Guides & Tutorials
      Lee
      Lee
    • [ANN] Vite Labs Listing KardiaChain (KAI) and Airdropping 1,250,000 KAI to VX Holders

      Dear Users,

      Vite Labs will soon list KAI and open KAI/ETH trading pair on ViteX, accompanied by a round of 1,250,000 KAI Airdrop to be rewarded to VX holders.

      Deposits and Withdrawals of KAI will start at 15:00 HKT (UTC+8) May 8, and trading of pair KAI/ETH will start at 15:00 HKT (UTC+8) May 9.

      Anyone who holds more than 10 VX in Vite wallet, no matter staked or not, can claim his or her share of the airdrop through the wallet airdrop page on May 8.

      Mining Range
      59503195-e6a0-4bea-84bf-cbb308f1e6e8-image.png
      About KardiaChain

      KardiaChain, a fully interoperable and non-invasive blockchain platform. Kardiachain is a public blockchain platform focused on Interoperability and providing hybrid blockchain solutions for enterprises and governments in Vietnam and other countries in Southeast Asia.

      KardiaChain Links

      Website: https://kardiachain.io

      Twitter: https://twitter.com/KardiaChain

      Telegram: https://t.me/kardiachain

      Official Announcement: https://t.me/KardiaChainOfficial

      Medium: https://medium.com/@KardiaChain

      Github: https://github.com/kardiachain/go-kardia

      Statements

      The asset description is taken from official materials such as white papers issued by the official project team so that investors can better understand and evaluate the project. The content of this article is obtained through legal channels to ensure the reliability, accuracy and completeness of the information as far as possible, but does not guarantee the accuracy and completeness of the information stated in the official materials.

      Vite Labs does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes, and makes no representations, warranties, or guarantees to you of any kind. The Site and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose. The contents of this article shall not be used as the basis or evidence of morality, responsibility and law, whether expressed or implied.

      Risk Warning

      Cryptocurrency investment is subject to high market risk and price volatility. Please carefully evaluate your capability of handling potential risks and make prudent trading decisions.

      We will continuously progress in providing better products and services.

      ViteX Website:https://vitex.net/
      Vite APP Download:https://app.vite.net/
      Twitter:https : //twitter.com/ViteXExchange
      Telegram:https : //t.me/vitexexchange

      May 7, 2020

      posted in Announcement
      Lee
      Lee
    • [ANN] Vite Labs Listing XMR with 3X Mining Rewards for One Week

      Dear ViteX users:

      Deposits and Withdrawals of XMR will start at 15:00 HKT (UTC+8) Apr 22, and trading of pair XMR/BTC will start at 15:00 HKT (UTC+8) Apr 23.

      During the first week of trading, 3X mining income will be rewarded to traders that mine VX through market-making pair XMR/BTC, from 15:00 (UTC+8) Apr 23 to 15:00 (UTC+8) Apr 30.

      XMR/BTC Mining Range
      2a48f3b9-0a0a-4663-bebb-0d749d10fa88-image.png

      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.

      The mining calculation

      About Monero(XMR)

      Monero(XMR) is the leading cryptocurrency with a focus on private and censorship-resistant transactions. Monero transactions are confidential and untraceable and It is electronic cash that allows fast, inexpensive payments to and from anywhere in the world.

      Learn More about XMR :

      Website: https://ww.getmonero.org/

      Telegram: https://telegram.me/bitmonero

      GitHub: https://github.com/monero-project/monero

      browser: http://moneroblocks.info/

      Forum: https://forum.getmonero.org/

      Twitter: https://twitter.com/monero

      Statements

      The asset description is taken from official materials such as white papers issued by the official project team so that investors can better understand and evaluate the project. The content of this article is obtained through legal channels to ensure the reliability, accuracy and completeness of the information as far as possible, but does not guarantee the accuracy and completeness of the information stated in the official materials.

      Vite Labs does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes, and makes no representations, warranties, or guarantees to you of any kind. The Site and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose. The contents of this article shall not be used as the basis or evidence of morality, responsibility and law, whether expressed or implied.

      Risk Warning

      Cryptocurrency investment is subject to high market risk and price volatility. Please carefully evaluate your capability of handling potential risks and make prudent trading decisions.

      We will continuously progress in providing better products and services.

      ViteX Website:https://vitex.net/

      Vite APP Download:https://app.vite.net/

      Twitter:https : //twitter.com/ViteXExchange

      Telegram:https : //t.me/vitexexchange

      Apr 21, 2020

      posted in Announcement
      Lee
      Lee
    • [Ann]:Trading Pair DUN/BTC Enabled with Market-making,Extra Rewards Available

      Starting 15:00 HKT(UTC+8) Apr 17, trading pair DUN/BTC will be enabled with Market-making as Mining.

      Moreover, traders will receive 3X VX rewards for one week on Market-Making buy orders and sell orders placed within the mining range for trading pair DUN/BTC.

      The event will start at 15:00 HKT (UTC+8) on Apr 17 and end at 15:00 HKT(UTC+8) on Apr 24.

      Trading Pair DUN/BTC Mining Range
      fb05f0a6-f30a-4b67-8939-de4542b80c44-image.png
      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 DUN/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:
      de95b6d0-47cb-4aaf-9113-ed9ce6e69c0e-image.png
      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

      Links:

      ViteX website:https://vitex.net/

      Vite APP Download:https://app.vite.net/

      Twitter:https : //twitter.com/ViteXExchange

      Telegram:https : //t.me/vitexexchange

      Apr 16, 2020

      Team ViteX

      posted in Announcement
      Lee
      Lee
    • The Revolution of DEX — ViteX

      ViteX, a true decentralized exchange on the Vite public chain


      ViteX, the new decentralized exchange created by Vite Labs, was launched in April of 2019.
      As a meaningful component of Vite’s full ecosystem of products, ViteX is developed on the Vite public chain and features absolute decentralizations, higher security of digital assets and robust economic models for both sending/receiving transactions and confirming transactions. See the end of this article for more details about the Vite blockchain.

      Initially, ViteX allows trading for these coins: VITE, BTC, ETH and USDT. Anyone can list their tokens on ViteX and our community can certainly do so as they build on the Vite public chain. VITE tokens are available to trade with pairings of VITE/BTC, VITE/ETH and VITE/USDT on our decentralized exchange.

      Introduction of ViteX

      True Decentralization
      Unlike other decentralized exchanges that are semi-decentralized, ViteX is a completely decentralized system.

      1. Transactions matching engine is realized by Smart Contract of Vite Chain. All orders will be completed through the chain and the order book will be stored on it, which make the completely decentralization come true.

      2. Bonus of transaction fees will be distributed through Vite Chain to keep the result completely public and the rules unable to change.

      Asset Security
      The private key is kept by the user himself, and no one can misappropriate the user’s assets.

      Trading Experience
      ViteX is developed on top of Vite Chain, with features including high throughput, fast confirmation, zero gas cost, multi coins model, cross-chain gateway, and others. All these characteristics help deliver a user experience close to that of a central exchange, with none of its problems of course.

      Trading to Earn VX
      Trade in BTC, ETH, VITE and USDT markets and receive VX rewards. (It only works for the mining enabled pairs)

      Dividends for VX Holders
      All transaction fees and other income created by ViteX will be totally distributed to the holders of VX tokens. The rules for distributing these proceeds will be written in smart contracts, so they are unchangeable.

      Openness to the Community
      Anyone can list their own cryptocurrency on the ViteX exchange, as long as they comply with the agreements of Vite and ViteX. The community has 100% autonomy over forging tokens, building cross-chain gateways and listing trading pairs. Also, ViteX’s order book is fully open via API, which allows community users and partners to launch their own exchanges based on ViteX’s liquidity.

      • Listing as Mining (Operators Only)
        Become a ViteX operator and list trading pairs to collect user transactions fees and receive VX rewards.

      Introduction of VX (ViteX Tokens)

      Uniqueness of VX
      ViteX Coin, VX, is the coin native to the ViteX platform. It is mined exclusively by the ViteX community and is used to allocate rewards back to the community.VX holders can receive daily dividends from a shared dividend pool which aggregates all trading & listing fees accumulated by ViteX and redistributes back to VX holders.
      Economic Model

      • Supply of VX: 29328807.8 (no inflation)

      • The total supply of VX will be fully distributed in two phases.
        Phase 1: Buffer phase that has ended on December 6, 2019. A fixed amount of 10,000 VX was released daily.
        Phase 2: Standard Phase. In this phase, all un-mined VX will be released according to below schedule:
        Sub-phase 1: Starting at 10,000 from December 7, 2019, daily release will increase for 90 days at a fixed rate until reaching 50,000 on March 6, 2020
        Sub-phase 2: Starting from March 7, 2020, annual release will decrease by half each year until fully distributed after 8 years.ining Rules**

      • Trading as Mining: Trade in BTC, ETH, VITE and USDT markets and receive VX rewards. (It only works for the mining enabled pairs)

      • Staking as Mining: Stake VITE to help ViteX obtain higher level operational quota and receive VX rewards.

      • Listing as Mining: Become a ViteX operator and list trading pairs to collect user transactions fees and receive VX rewards.

      • Referring as Mining:Generate a referral code to invite friends to join the ViteX platform and receive VX rewards.
        Inviter will be rewarded with 5% of all invitees’ trading as mining proceeds and 2.5% of their market making as mining proceeds.
        Invitees will enjoy 10% off platform trading fees, and receive an extra 2.5% of trading rewards and extra 1.25% of market-making rewards.

      • Market-making as Mining
        Help improve order book depth by placing buy and sell orders and receive VX rewards. (It only works for the mining enabled pairs)

      ViteX Community

      Twitter: https://twitter.com/ViteXExchange

      Telegram: https://t.me/vitexexchange

      About Vite

      Vite’s ecosystem of products includes the following:

      • Web wallet, iOS and Android wallets
      • Decentralized exchange (DEX)
      • Crypto powered e-commerce platform
      • Point of sale (POS) solution for merchants
      • Platform for decentralized applications (dApp)

      And these products are in turn empowered by these capabilities:

      • Payment infrastructure without time lags nor fees
      • One-click token issuance
      • Smart contracts programmed in Solidity++

      As always, our development is open source and we encourage community members to give their own input. Such input can be given through our GitHub, Vite Forum and social media channels listed below:

      Official: https://www.vite.org/

      Vite Forum:https://forum.vite.net

      Telegram:

      • English: https://t.me/vite_en
      • Chinese(中文): https://t.me/vite_zh
      • Russian: https://t.me/vite_russia
      • Korean: https://t.me/vite_korean
      • Vietnamese: https://t.me/vite_vietnamese
      • Thai: https://t.me/vite_thailand

      Twitter:https://twitter.com/vitelabs

      Discord:https://discordapp.com/invite/CsVY76q

      Reddit:https://www.reddit.com/r/vitelabs/

      posted in About ViteX/VX
      Lee
      Lee
    • Beginner's Guide to ViteX Mining

      Dear ViteX Users:

      ViteX, developed by Vite Labs, is the world's first DAG-based decentralized exchange.
      ViteX Coin, VX, is the coin native to the ViteX platform. It is mined exclusively by the ViteX community and is used to allocate rewards back to the community.

      VX holders can receive daily dividends from a shared dividend pool which aggregates all trading & listing fees accumulated by ViteX and redistributes back to VX holders.

      Access our exchange here: https://vitex.net

      Highlights
      Complete decentralization
      1.On-chain order matching
      2.Smart contract-enabled transaction fee collection and dividend distribution
      3.Listing new trading pairs only requires 10,000 VITE
      Exchange run by the community
      Anyone can become a ViteX Operator
      ViteX Operators have the right to set trading fees, suspend trading activity & list new trading pairs
      All Operator functions are deployed on the smart contract
      Native exchange coin VX can be mined in five different ways

      Overview
      5 mining methods

      Trading as Mining
      Trade in BTC, ETH, VITE and USDT markets and receive VX rewards.
      Market-making as Mining
      Help improve order book depth by placing buy and sell orders and receive VX rewards.
      Staking as Mining
      Stake VITE to help ViteX obtain higher level operational quota and receive VX rewards.
      Referring as Mining
      Generate a referral code to invite friends to join the ViteX platform and receive VX rewards.
      Inviter will be rewarded with 5% of all invitees’ trading as mining proceeds and 2.5% of their market making as mining proceeds.
      Invitees will enjoy 10% off platform trading fees, and receive an extra 2.5% of trading rewards and extra 1.25% of market-making rewards.
      Listing as Mining (Operators Only)
      Become a ViteX operator and list trading pairs to collect user transactions fees and receive VX rewards.

      Mining Details

      • Trading as Mining

      Mines approximately 60% of daily released VX. Currently, users are able to trade in four markets: BTC, ETH, VITE and USDT and receive VX rewards accordingly.
      Allocation: As mentioned above, ViteX is currently divided into four different markets: BTC, ETH, VITE and USDT. By trading in these markets, users are able to receive VX mining rewards. Each market will receive 15% of daily distributed VX.
      How to participate: By executing trades on eligible trading pairs and paying the corresponding trading fees, users mine VX (Trading as Mining).
      Mining reward calculation: VX rewards are calculated based on the proportion of a user's daily accumulated trading fee to the total accumulated fees in each market. For example, for a given day, if a trader accumulates 5% of the total BTC market trading fees, then that trader will receive 5% of the 15% of VX rewards allocated to the BTC market.

      • Staking as Mining

      By staking VITE to help ViteX obtain operational quota, users receive VX rewards.
      Allocation: 20% of daily released VX
      How to participate: stake VITE with the beneficiary set to the ViteX smart contract
      Staking amount: the minimum amount of VITE that users can stake is 134 VITE. There is no maximum cap.
      Staking duration: Stakes can be retrieved after 3 days. There is no maximum number of days for staking VITE. There will be a retrieving period of 7 days, and stakes will not be counted towards staking as mining rewards during this period.
      Mining reward calculation : the amount of VX rewards will be calculated based on the proportion of VITE staked by a user's account to the total amount of VITE staked that day.

      • Market-making as Mining

      Mines 10% of daily released VX; BTC market at 5%, ETH and VITE market equally at 1.5%, USDT market at 2%.
      Placing orders on ViteX will also earn users VX rewards. The amount of VX earned depends on three factors: 1) the amount of order, 2) the amount of time your order remains on the order book, and 3) the amount of deviation from the best bid and best offer in the order book spread.
      Allocation: 10% of daily released VX. BTC market at 5%, ETH and VITE market equally at 1.5%, USDT market at 2%.
      How to participate:
      Only eligible trading pairs will be considered for market-making as mining rewards
      Both buy and sell orders are considered for market-making as mining rewards
      Orders must not deviate from the designated mining range in the order book
      Mining reward calculation:
      The VX mining reward for market-making has a linear relationship with the order amount and order duration (i.e. amount of time the pending order stays on the order book). However, the mining reward has an exponential relationship with the order distance (i.e. the deviation from the best bid offer).

      For example, if Alice and Bob both place two separate orders for the same amount of token X. Both orders remain on the order book for the same amount of time. However, Alice prices her order on level 1 (i.e., extremely close to the best bid offer) and Bob prices his order on level 10 (i.e. further away from the best bid offer), the mining reward for Alice will be 100 times that of Bob's. This system is designed to incentive users to place orders as close to the best bid offer as possible.

      • Referring as Mining

      User can request invitation codes to invite friends to join the ViteX platform.
      Inviter will be rewarded with 5% of all invitees’ trading as mining proceeds and 2.5% of their market making as mining proceeds.
      Invitees will enjoy 10% off platform trading fees, and receive an extra 2.5% of trading rewards and extra 1.25% of market-making rewards.
      How to participate: Spend 1,000 VITE to generate a referral code, of which 100% will be burned
      Note: If you are a ViteX VIP (users who have staked 10,000 VITE to obtain a 50% reduction in trading fees) AND joined ViteX via a referral code, your 10% discount will be applied after the reduction.

      • Listing as Mining (Operators Only)

      For each trading pair listed, the issuer’s VX reward is then calculated as if he/she executed a trade involving a transaction fee of 1,000 VITE.
      Operators can list trading pairs, customize transaction fees, and generate profits from users that choose to trade on their Zone.

      VX Distribution Schedule
      The total supply of VX will be 29328807.8 with no inflation. The total supply of VX will be fully distributed in two phases.

      • Phase 1: Buffer phase that has ended on December 6, 2019. A fixed amount of 10,000 VX was released daily.

      • Phase 2: Standard Phase. In this phase, all un-mined VX will be released according to below schedule:
        Sub-phase 1: Starting at 10,000 from December 7, 2019, daily release will increase for 90 days at a fixed rate until reaching 50,000 on March 6, 2020
        Sub-phase 2: Starting from March 7, 2020, annual release will decrease by half each year until fully distributed after 8 years.
        vx-release-schedule.7b659913.png

      VX Mining Allocation
      The daily amount of released VX will be allocated according to the breakdown below:

      Trading, Referring and Listing: 60%
      BTC market: 15%
      ETH market: 15%
      VITE market: 15%
      USDT market: 15%
      Staking: 20%
      Market-making: 10%
      Vite team: 10%

      20c505c0-2ea5-4426-a621-f6b449136208-image.png

      VX Holder Dividends
      All fees collected by the ViteX platform will be collected into a shared dividend pool and distributed at a rate of 1% daily. For any given day, the total fees collected during that day will be fully distributed by the 100th day.

      To receive your dividends:
      • A minimum of 10 VX must be staked in the exchange account. Please note that VX held in a wallet or exchange account will not make you eligible for dividends;
      • Participant is entitled to receive dividends starting with the next distribution immediately after submission of staking request;
      • Staked VX will be released after the 7-day waiting period once retrieved. No dividend will be received during this waiting period.
      Users can enable automatic staking. Mined VX will be automatically staked once enabled, purchased VX is not subject to this function.

      ViteX Operator Guide
      Operator Rights
      Token Ownership Rights
      By default, the token ownership rights belong to the Issuer. However, the Issuer can transfer the rights to their token to a third party. Once they do so, the third party has full access to the token and can list trading pairs.
      Listing Trading Pairs
      Only the token owner can list trading pairs involving the token he or she owns. In the case of ViteX, only BTC/ETH/USDT/VITE trading pairs can be listed. Attempting to open trading pairs to other cryptocurrencies will be rejected.
      Note: A cost of 10,000 VITE is required to open a trading pair.
      Transferring Token Ownership
      Token ownership can be transferred. The transfer of token ownership is irreversible.
      Token Trading Rights
      If an Issuer does not want to fully transfer the rights to his or her token, the Issuer can choose to transfer the Token Trading Rights instead. For example, the Issuer can first list a trading pair (i.e. Token A / BTC) and transfer the rights to this specific trading pair to a third party. In this case, the third party now has the right to the Token A / BTC pair — they cannot open additional trading pairs to other cryptocurrencies but can transfer their Token A / BTC right to another party should they wish to.
      Setting Transaction Fee
      Operators have the right to set an additional transaction fee (on top of the Base Transaction Fee) of 0 - 0.2%. Operators also reserve the right to adjust these fees.
      Trade Suspension
      The Operator reserve the right to suspend a trading pair. After they do so, the user cannot place orders involving the given trading pair but can withdraw the order if they already had one in place.
      Transferring Token Trading Right
      Token trading right can be transferred. The new owner will become the Operator of the trading pair. This operation is irreversible.
      Attention

      The token ownership right and token trading right are two independent sets of rights.

      For example, Alice is the Issuer of Token A, so by default, she has the token ownership right to Token A. At the moment, only Alice can open trading pairs involving Token A. Now, Alice decides to open a trading pair: Token A / BTC. Now, she has two"sets" of rights: 1) Ownership of Token A and 2) Token A / BTC Trading.

      If Alice transfer the right of Token A / BTC to Bob, Alice now no longer has the right to list Token A / BTC pair. The transfer of trading rights to Bob is irreversible. However, since Alice still has the token A ownership rights, she decides to open another trading pair of Token A / ETH. Now, if Alice decides to transfer the Token A Ownership right to Charles, she permanently loses that right and can no longer open any additional trading pairs involving Token A. However, Alice still owns the Token A / ETH trading pair despite no longer having the Token A Ownership rights.
      Click and Apply to Become an Operator

      Transaction Fee Formula

      For all transactions on ViteX, incomplete orders do not incur any trading fees.
      Total Transaction Fee = Base Transaction Fee + Operator Zone Fee
      Tips
      Unlike other DEXes, ViteX does not charge fees for pending orders and withdrawals provided that users have the requisite amount of quota. Related documentation: What is quota.
      Base Transaction Fee: 0.2%
      This transaction fee will be applied to all trading pairs in the ViteX ecosystem. All the fees collected from this will be put into the shared dividend pool to be redistributed back to VX holders.
      Operator Zone Fee: 0 - 0.2%
      This is the fee that will be set by ViteX Operators for their respective Zones. Operators may set fees ranging from 0% to 0.2%. Proceeds from this fee belong to the Operators.
      Reducing Transaction Fees

      • Stake 10,000 VITE to become a VIP and receive 50% off basic trading fees
        (Minimum Staking Duration: 30 days)
      • Use a Referral Code and receive 10% off trading fees
        (Refer to Referring as Mining section for details)

      Note: For any VIP user using a referral code, another 10% will be taken off incurred trading fees after the 50% reduction.

      All rights reserved by Vite Labs
      Important Links
      ViteX official website: https://vitex.net/
      Trade on ViteX: https://x.vite.net/
      Referral code application form: https://forms.gle/Bps8oR3q1FyEZG2FA
      Join our Telegram Community: https://t.me/vitexexchange

      posted in User Guides & Tutorials
      Lee
      Lee
    • [ANN] 2X VX Rewards Available for Pairs BCH/BTC ,VX/VITE and BTC/USDT

      Dear ViteX users:

      Traders will receive 2X VX rewards for two weeks when Market-Making the following trading pairs: BCH/BTC ,VX/VITE and BTC/USDT.

      The event will start at 15:00 HKT (UTC+8) on Apr 15 and end at 15:00 HKT (UTC+8) on Apr 29.

      Trading Pair Mining Range
      35c6af05-d11d-4780-b322-f223caf84c9a-image.png

      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 BCH/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:
      a7d8593b-ddff-43b1-8080-e8e3d8348a69-image.png
      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

      Links:

      ViteX website:https://vitex.net/

      Vite APP Download:https://app.vite.net/

      Twitter:https : //twitter.com/ViteXExchange

      Telegram:https : //t.me/vitexexchange

      Apr 14, 2020

      Team ViteX

      posted in Announcement
      Lee
      Lee
    • [ANN] 3X VX Rewards Available for Pairs ETH/BTC, BCH/BTC, BTC/USDT and ETH/USDT

      Dear ViteX users:

      Traders will receive 3X VX rewards for a week on both Market-Making buy orders and sell orders placed within the mining range for trading pair ETH/BTC, BCH/BTC, BTC/USDT and ETH/USDT. The event will start at 15:00 HKT(UTC+8) on Mar 20 and end at 15:00 HKT(UTC+8) on Mar 27.

      Trading Pair Mining Range

      image2020-3-19_17-24-19.png

      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 ETH/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:
      image2020-3-19_17-22-401.png

      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

      Links:

      ViteX website:https://vitex.net/

      Vite APP Download:https://app.vite.net/

      Twitter:https : //twitter.com/ViteXExchange

      Telegram:https : //t.me/vitexexchange

      Mar 19, 2020
      Team ViteX

      posted in Announcement
      Lee
      Lee
    • RE: How to mine on ViteX(Advanced)

      @felicity 2 kinds of tokens

      posted in User Guides & Tutorials
      Lee
      Lee
    • How to mine on ViteX(Advanced)

      We are grateful for a hardcore user who shared his mining [email protected]

      As a hardcore users of vite, from holding VITE to mining VX, I find that there are still many ways to earn money on ViteX. So I will share my own experience of mining on ViteX(https://vitex.net/)

      Official mining document:https://vite.wiki/dex/#vx-mining

      My personal experience
      1ST: Trading as Mining

      Currently, users are able to trade in four markets: BTC, ETH, VITE and USDT and receive VX rewards accordingly.

      For the crowd: Those who have time at noon every day and hold more than 2 tokens on ViteX

      Operation method:Check whether there is a profit at 11 noon every day. If there is a profit, you can trade by yourself to earn trading fee.

      Detailed steps:

      Cost of mining a VX is shown on official website(https://vitex.net/). If 1VX costs < VX prices on exchange, you can keep on mining.

      Because trading mining releases rewards around 12 o'clock every day, as long as 1VX costs < VX prices on exchange before issuing rewards. So it is recommended that you generally look at the four markets (BTC, VITE, ETH, USDT) at about 11 o'clock which still have profit. The cost of each VX is shown in the below.
      image2020-3-16_12-11-0.png

      2ND:Market-making as Mining

      Market-making mining is placing orders to boost liquidity on ViteX and you’ll be rewarded with VX. it has the risk but the return is very high.

      For the crowd: People who usually have time need to see orders often.

      Detailed steps:

      The amount of VX earned depends on four factors:

      1.the amount of order
      2.the amount of time your order remains on the order book
      3.the amount of deviation from the best bid and best offer in the order book spread
      4.The orders must not deviate more than 10% from the best buy/sell offer in the order book

      Following figure shows the trading pair as an example. If you want to mine more through sell orders, you need to place three orders: mining order, 2 support orders.

      image2020-3-12_17-28-43.png

      0.003855 price order is mining order, a large amount of funds are linked here (107) for mining.

      0.003780 price order is support for mining. The role of this order is to ensure that mining order is close enough to the best buy offer, and there is no limit on the number(such as 0.00002), so that enough VX is mined

      0.003701 price order also is support for mining. The order can be as long as it is in the mining range, but the total number of orders must be more than one-tenth of the sell orders (the number is 14.9), otherwise the sell order will be discounted.

      If I place the order in the way I said, the profit of the order on that day will be very substantial, but you also need to look at the order and if the price fluctuates, you will immediately adjust the order.

      We thank again Alvin for his valuable experience

      posted in User Guides & Tutorials
      Lee
      Lee
    • [Ann]: XRP/BTC Trading pair

      Dear ViteX users:

      The XRP/BTC trading pair is no longer valid for receiving mining rewards with trading starting 15:00 HKT (UTC+8), January 21.

      Cross-chain deposit and withdrawals of XRP/BTC are not affected.

      Market-making as mining is still available.

      January 21, 2020

      ViteX Official: https://vitex.net/
      Instagram: https://www.instagram.com/vite.labs/?hl=en
      Twitter: https://twitter.com/vitelabs
      Telegram:
      • English: https://t.me/vite_en
      • Chinese: https://t.me/vite_zh
      • Russian: https://t.me/vite_russian
      • Korean: https://t.me/vite_korean
      • Japanese: https://t.me/vite_japanese
      • Vietnamese: https://t.me/vite_vietnamese
      • Thai: https://t.me/vite_thai
      • Arabic: https://t.me/vite_arabic
      • German: https://t.me/vite_german
      • French: https://t.me/vite_french
      • Turkish: https://t.me/vite_turkish
      • Indonesian: https://t.me/vite_indonesian
      • Spanish: https://t.me/vite_spanish
      • Portuguese: https://t.me/vite_portuguese
      • Malaysian: https://t.me/vite_malaysian
      • Filipino: https://t.me/vite_filipino
      • Bengali: https://t.me/vite_bengali
      • African: https://t.me/vite_africa

      posted in Announcement
      Lee
      Lee
    • [ANN]:Vite Wallet upgrade

      Dear GRIN wallet users:

      The GRIN hard fork upgrade has been completed, please upgrade to the latest version of Vite APP(3.4.0) to restore cross-chain deposit and withdrawal of GRIN.

      January 17, 2020

      Vite Labs team

      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:
      • English: https://t.me/vite_en
      • Chinese: https://t.me/vite_zh
      • Russian: https://t.me/vite_russian
      • Korean: https://t.me/vite_korean
      • Japanese: https://t.me/vite_japanese
      • Vietnamese: https://t.me/vite_vietnamese
      • Thai: https://t.me/vite_thai
      • Arabic: https://t.me/vite_arabic
      • German: https://t.me/vite_german
      • French: https://t.me/vite_french
      • Turkish: https://t.me/vite_turkish
      • Indonesian: https://t.me/vite_indonesian
      • Spanish: https://t.me/vite_spanish
      • Portuguese: https://t.me/vite_portuguese
      • Malaysian: https://t.me/vite_malaysian
      • Filipino: https://t.me/vite_filipino
      • Bengali: https://t.me/vite_bengali
      • African: https://t.me/vite_africa

      posted in Announcement
      Lee
      Lee
    • Vite Wallet关于 GRIN 硬分叉升级完成公告

      尊敬的GRIN钱包用户:

      Vite Wallet支持 GRIN 进行硬分叉升级已经完成, 请用户尽快升级至最新版本Vite APP(3.4.0)来恢复GRIN相关服务的使用。

      请通过Vite官方账号了解交易所最新动态:

      Vite官网:http://vite.org/

      Vite APP下载:https://app.vite.net/

      Twitter: https://twitter.com/vitelabs

      Telegram English: https://t.me/vite_en

      Telegram Chinese: https://t.me/vite_zh

      Vite Forum: https://forum.vite.net

      Vite Labs team

      2020年1月17日

      posted in Announcement
      Lee
      Lee
    • Vite Labs Invited to Attend the First Annual Conference and Board Meeting of the China Blockchain Application Center

      On January 11, 2020, a joint event of both the board meeting of the China Blockchain Application Center and the establishment ceremony of the Fintech Club was grandly held at the Chinese Museum of Finance.

      Participants included:
      Li Zhaoqian, Deputy Chairman of the All-China Federation of Industry and Commerce; Su Ning, the First Chairman of the Board of China UnionPay, Former Vice President of The People's Bank Of China; Wang Wei, Chairman of the Chinese Museum of Finance, Founding chairman of the China Mergers & Acquisitions Association;Guo Yuhang, Chairman of the China Blockchain Application Center, Founding Secretary-General of the Fintech Club;and other Government Officials, Founding Committees, and important board members.
      Tony (Tong) Wang, Director of Operations at Vite Labs, represented Standing Director of China Blockchain Application Center and Vite CEO Charles (Chunming) Liu, and participated in the meeting. Charles was honored and nominated during the meeting for his joint effort to promote the Finance literacy and development of China’s blockchain and Fintech industries.

      3e060dbf-528b-4277-983a-bdd44c5bca3d-image.png
      Board Member Certificate of Chinese Blockchain Application Center

      2c891e10-693f-48b4-917b-e280fe258eaf-image.png
      (Row 2, Left 3, Vite Director of Operations, Tony Wang)

      The First Annual Conference was later held at the All-China Federation of Industry and Commerce in the following event. Vite was mentioned as a major case study in the keynote speech given by Zhang Shousong, Secretary General of the China Blockchain Application Center. Zhang stated that the Government project “SyraCoin” which Vite developed with the city of Syracuse is an illustration of a practical blockchain use case, as it improves people’s well-being by designing and delivering a closed-loop solution that addresses the issue of public welfare and resolves livelihood difficulties.

      148fec8d-38d0-4d6e-a22a-53c22e1cf595-image.png
      Key Note Speech by Zhang Shousong referring Vite

      posted in Announcements
      Lee
      Lee
    • [Ann]:Trading Pair EPIC/BTC Enabled with Market-making as Mining

      Dear ViteX users:

      Trading Pair EPIC/BTC will be enabled with market-making as mining starting 15:00 HKT (UTC+8), January 16.

      Mining range for EPIC/BTC trading pair
      b9441697-cafe-48bc-af76-a752cd87d4a7-image.png
      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 EPIC/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:
      5d887387-4dfb-4658-9908-995276335c67-image.png

      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 15, 2020

      posted in Announcement
      Lee
      Lee