@Oleg hey Oleg, is there any update on the consideration?
Posts made by Michi
RE: Who can do wash or fake trading in ViteX?
I understand and you might be right.
But consider that coinmarketcap Volume Ranking has such an important Value as it an exchange is trustworthy. People will look for trustworthy exchanges and leave out the rest.
All Good So far - but this also motivates (all) exchanges to manipulate this (not just vitex) to signal more trustworthiness.
Not using ViteX for wash trading is like blaming Lance Armstrong for his EPO usage - sure you are right - but are the alternatives clean?
To date - I benefited from ViteX and their dividend distribution - furthermore the concept is strong. Only would like to see more active usage of the discussion board.
Anyway, best of luck to you!
RE: Long-term staking VITE! - my point of view
Thanks for taking the time to write it! Interesting article!
To me - VX vs Vite is simple:
As I reinvest any return 100% on all accounts & I have a decent amount of both.
I remodeled the release curves of both VX as well as Vite - doing that you can build an simple dashboard that calculates the expected daily return as well as the NPV (under few assumptions). I basically reinvest based on the daily returns (as it is possible to swap over time).
VX provides now the best return on investment- but the release schedule shows that this will change (compared to staking | even in the minimal scenario that 100% vite would be staked).
So basically to me simple:
1.reinvest in VX as long as that provides best return.
2. Reinvest in Vite when that provides best return
3. Swap vx to vite when the difference in return >= missing dividends
Edit: I might make the dashboard available in the near future as a helpful resource for the community.
It would be great that in that section “helpful resources “ we could also find an solid comparison between SBP’s (willing to build , but have quite some trouble finding the information)
Proposal to improve the Governance Structure
Hello, I kindly ask you to consider my suggestion for the Governance bounty.
- In short:
Lack of initiative to vote for SBP’s creates a risk for the Vite Ecosystem - a simple change in voting mechanism would greatly migrate this risk.
People that hold are able to vote for SBP’s who play an essential role in the Vite ecosystem. The Voters are rewarded with a share of the rewards the SBP’s gain. The weight of the vote is determined by the number of Vite the voter has in his/her wallet. The voting reward is somewhere between 0.001 and 0.009.
The alternative to voting is staking. With staking you gain VX for the number of Vite you have staked.
The return on voting is so much lower compared to the return on staking (10x - 50x) that it would make no sense for a rational investor to vote. In that he/she could simply stake and sell the vx he/she is rewarded for more Vite.
Due to the lack of votes it is relatively cheap to become a top 5 SBP without the need of any support from the community just by voting for yourself with an other account. That means that a well willing SBP gets out of the top 25 list as a result. Now considering a coordinated attack in which about +/- $500k is sufficient to create enough SBP’s to take over 90% of top 25 SBP’s...
The root cause of this problem is that the Vite holder has to choose between voting or staking. The solution I purpose is changing the voting power from (#vite in wallet) to (#vite in wallet + #vite staked). That way Vite holders can choose between voting reward while have liquid funds or having illiquid funds but earn higher rewards.
By doing this the number of votes cast will greatly increase (more then 100m vite are currently staked) which greatly increases the costs of such an attack and thereby reducing its attractiveness.
Please let me know what you think and feel free to ask any questions if any clarification is needed.
RE: VITE/VX Tokenomics
@Michi to me an adjustment which would more sense to improve the attractiveness of vite would allow holders to vote on SBP’s with the vite they have in wallet (currently) as well with the vite they staked (suggestion)
That way holding vite is more appealing and it makes sense to vote (other then by SBP’s themselves)
Current daily rewards
Vx (staking) +/- 0,3%
Vite (staking) +/- 0,1%
Vite (voting) +/-0,008%
RE: VITE/VX Tokenomics
Why should that happen? The VX that are released daily will greatly increase over time, this means that the dividends that you get for holding vx will be reduced over time (because your % share of vx gets deluded)
Staking vite gets relatively stable return (even if all vite would be staked) meaning that over time vite gets more important. It will regulate itself..
RE: Dividend Pool and Distributed Value questions
Dividend pool: total TO BE distributed dividends that will be distributed over 100 day period.
So if today is t=0. On T+1 the distributed dividends are 1/100 of the dividend pool of t=0. The pool becomes value t=0 x 0,99 + transaction costs (btc, eth, usdt) of t+1
The dividends that all distributed already. Bear in mind that a few weeks ago the dividends also contained vite dividends.