Posts made by Oleg

Oleg

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We held a PegNet AMA in Vite telegram group at 1 pm UTC+0 January 13, 2020. The AMA was hosted by Oleg , Vite community lead, and attended by Dave from PegNet. The whole AMA and Q&A can be viewed here.

About PegNet

The PegNet token (PEG) is an open, distributed, autonomous and minable stablecoin network. PegNet enables cryptocurrency users to hold value and make payments in the form of any asset they would like thanks to Pegged Asset Tokens. PegNet tokens are digital copies of the fiat currency, cryptocurrency or precious metal they mirror.

Supported by prominent early Ethereum contributor Jonathan Mohan and early blockchain leaders such as David Johnston, and Paul Snow. PegNet’s technology leapfrogs existing stablecoin implementations by being minable via proof of work, where miners are rewarded with PEG tokens in return for submitting and approving price data from external sources. Miners subscribe to various market API’s and submit the prices of 29 assets, including Gold, Silver, USD, Euros, Ether, Factoids & Bitcoin, with many more to come to PegNet. Users can choose their exposure to any of the Pegged assets by simply converting between assets at current market prices.

Five-thousand PEG tokens mined per block, every 10 minutes
Distributed mining reward go to the top 25 miners each block
29 stablecoins including: Gold, Silver, USD, Euros, Ether, Factoids & Bitcoin

Introduction

Oleg: Hi Dave, welcome to the Vite community! My congratulations on the past holidays to you, I hope you had a good rest and celebrated the New Year with renewed vigor
How are you today?
Dave: Here is Zurich right now. Thanks. Great to be here : ) I’m doing great.
Oleg: Perfect:) We are very happy to have you here, on our joint AMA
The very first question for you. Can you introduce yourself?
A simple three characteristic is preferred
Dave: Sure. Here is some information about me. http://www.davidajohnston.me/ . I’ve been in the crypto ecosystem since 2012. I was an early supporter of Bitcoin. Then Ethereum. I helped found the Factom Protocol and I’m very excited about DeFi.
Many people know me from coining the term Dapps. https://github.com/DavidJohnstonCEO/DecentralizedApplications
Oleg: Very cool, Dave! You seem like a real enthusiast
Dave: Thanks. Its been a great 8 years to be in crypto : )
When I saw how powerful decentralized systems could be and how it could give everyone freedom it got me really excited.
Oleg: Impressive!
Dave: So I run an investment firm Yeoman’s Capital and we only focus on crypto and blockchain.
Oleg: Your own fund ?
Dave: Its a family office, so its my personal investment firm. We only support open source projects that build on blockchain tech.
https://www.yeomans.capital/
Oleg: If there are more such people, the blockchain has a great future
Now please tell us about how the rewards for the AMA will be distributed, I think many are interested in this
Dave: Sure. We want to spread knowledge about great DeFi projects like PegNet.
Oleg: Nice! So, let’s start Stage 2. Here we go the 1st question for you.

Questions from the Host

Oleg: How are the Stablecoins on PegNet different from other stablecoins?
Dave: First PegNet is fully distributed.There is no company or foundation. No central reserve. The users hold their own stablecoins. They can convert into pegged USD or pegged Euros for example. But it works based on the miners publishing prices for each asset every 10 minutes. So its based on decentralized oracles. Not on collateral or a central reserve. There is a good write up here: https://link.medium.com/46lB28Trd3
So it’s very different then Tether or other stablecoins that have a reserve.
Oleg: Full decentralization, that’s how I would call it Move on to the next questions…
How does the mining on PegNet work?
Dave: Every 10 minutes the miners compete to earn 5,000 PEG tokens. They do proof of work with CPU. But they also publish the price of Gold, USD, Euros. All thirty of the different prices on the PegNet. So they are graded both on the proof of work and can accurate the price data is. The miners are the source of the decentralized oracles that power the system.
You can see all the prices they publish here: https://pegnetmarketcap.com/
Oleg: Great opportunity for mining, take note
Dave: Yes. The slog that PegNet uses doesn’t allow for ASIC or GPU only CPU. So it’s been used by many people around the world.
You can see the mining stats here: https://www.factoshi.io/pegnet. Now over 100,000 CPUs mining PegNet. 200X growth of hashrate in only the first 100 days.
Oleg: steady increase in hashrate
Dave: Yes. I guess people like the idea of mine able stablecoins. The miners can convert their PEG into pUSD or which ever stablecoin they want.Even pBTC or pETH. PegNet has top cryptos and top fiats plus Gold and Silver.
Oleg: True, many now need stability. So, let’s continue…question number 3
How are pegged assets on PegNet created?
Dave: There was no pre mine. No token sale for PegNet. Only Proof of Work mining since it’s launch August 19th 2019. So all the assets on the network were mined. Or someone took FCT and burned it for a pAsset or bought PEG from a miner and converted it into pAssets. That way all the assets are 100% audit and provable.
This site shows all the conversions and burning of crypto into pAssets.
https://www.factoshi.io/pegnet
Over 1.2 Million FCT burned into PegNet assets. PegNet is built on Factom which also is built on Ethereum. So it’s a totally transparent way and honest way to make stable coins.No central control. The user can make any stablecoin they want on the PegNet by buying PEG and converting them into the pegged assets.
Oleg: Nice, everything looks extremely decentralized, as Satoshi bequeathed.
Let’s talk about community, question number 4.
How can users get involved with the PegNet community?
Dave: One way is to become a miner of PEG. I funded the first open source mining pool. People can check it out here: https://prosperpool.io/ Another way is to purchase PEG and convert them into some stabelcoins. Vite exchange is great that. They were one of the first to support PegNet and many pAssets are listed on Vite.
There is a basic wallet now for PegNet assets here: https://chrome.google.com/webstore/detail/kambani/oiceedellfbhhplkfkpkkocbdkifpili
It’s a chrome extension and works like Meta Mask. But for Factom not Ethereum
And here is the web wallet that works with the chrome extension https://factomatic.io/wallet/
So you can mine, you can make your own stablecoins, you can build payments and other applications with PegNet. So many wants to get involved.
A lot of the community is on Discord you can use this invite to join the community there https://discordapp.com/invite/Xz2ZN6p
Or on Telegram t.me/PegnetOfficial
Oleg: Very good, you have quite a lot opportunities for community . Supporters are very important! Final question.
How much does it cost to send and convert pegged assets on PegNet?
Dave: It’s very cheap. Only $0.001 that’s 1 tenth of a penny. To send as much of any pAsset or PEG that you want. Or convert as much of any pAsset say pBTC into pUSD as you want. Still only $0.001. That’s the cost of an entry credit to publish the transaction in Factom. The $0.001 isn’t sent to anyone it’s just burned.
Some other digital / synthetic type platforms charge 0.25% which gets expensive the more you convert in. So PegNet is pretty close to free to use, it’s open source and the miners earn PEG so it’s a very clean and simple design.
Oleg: $PEG enthusiasts, I am sure you are here reading all these words from Dave.
Great, thanks for the detailed answers, Dave. And now we go to Section 3: For the free chat Q&A from community, I am looking for some good questions from community now.

Questions from the Community

Aluta: Why did Pegnet choose LXRHash mining algorithm over existing mining algorithm like sha256 and Litecoin’s script hash for it mining?
Dave: Great question. PegNet went with LXR hash so that no big miners would have all the tokens for themsleves. We wanted PegNet to start with no ASICs. LXR is bound by RAM / Memory not compute, so its been a good fit for anyone to run on their laptop computer.
G4M3R: Why did Pegnet choose LXRHash mining algorithm over existing mining algorithm like sha256 and Litecoin’s script hash for it mining?
Dave: Yes I think 2020 is going to be a great year for DeFi. I think PegNet can play a big role because there is no much demand for Stablecoins. But we should use them in a decentralized way, so we don’t suffer the fate of Mt Gox. centralization again. Its also just cheaper and easier to use. That is the key.
blockchain: Why is PEG built on Factom over other comparably quicker and scalable chains? Why don’t PEG build their own solution system or chain?
Dave: We picked Factom because it has years of expereince with decentralized orcales. Factom is made for cheap transactions ($0.001). And Factom is all about data. We needed a way for the miners to publish their data on a blockchain and so it made coding the PegNet Dapp very fast development instead of building its own chain which takes years.
Juan: why do you think PEG conversions are unique ? And If we have more than 1 request, can we handle those requests based on their proportions of the total requested ?
Dave: Juan, The biggest advantage on PegNet for a trader is that the fees are so low that he can trade as much as he wants. https://medium.com/@DJohnstonEC/ready-trader-one-83ca7c30d596 I wrote about it here. The other big advantage is the trader has 0% slippage when doing conversions inside PegNet. He can go from pUSD to pGold and the protocol will give him as much value as he has in the network to convert. This is much better than a centralized exchange where there is slippage.
Imearth: What are the key highlights of PegNet’s technology and what can we expect in 2020 from your team in terms of development and progress and increasing and getting the community more involved?
Dave: Imearth, Well the community has been adding new features for PegNet very quickly. In August the mining launched, in October the conversions started, in December the arbtrage began. People launched the wallets and websites all on their own to show the assets. There are tons of proposals to make PegNet better. You can see the list of open source projects such as a mobile wallet for PegNet that people are working on right now. I’m donating to many of these PegNet projects to help make it better. https://docs.google.com/spreadsheets/d/1R7NtU83E9NoSEfbrWjugobCcqjv4it8wEN7SGw85fR0/edit?usp=sharing
Serg: Today, there are many new crypto exchanges as well as famous old crypto exchanges facing Liquidity problems & it leads to shutdown,
So how you solve this liquidity problem & ensures that users get good liquidity?
Dave: Serg, On liquidity this is where PegNet is very strong. There is no counter party. The user can deal directly with the PegNet protocol. Say you have 10,000 USD of pBTC and want to switch it into pETH. You can swap all $10,000 worth of pBTC to pETH for only $0.001 cost. There is no liquidity challenge, because there is no order book. You aren’t trading with someone else, you are just balancing your own value in your own portfolio.
Keniya: Today, there are many new crypto exchanges as well as famous old crypto exchanges facing Liquidity problems & it leads to shutdown,
So how you solve this liquidity problem & ensures that users get good liquidity?
Dave: Keniya, Great question. PegNet works with both Factom and Ethereum. There is a ERC20 version of the pAssets thats available on IDEX now for people to buy. So that extends PegNet assets to work with any Ethereum wallet or infrastructure if you get the ERC20 version. Here is the road map for that. https://medium.com/pegnet/adding-pegnets-passets-to-ethereum-6b20d63ae635
Quebs: Hello Dave. I see on ViteX some pUSD for sale at 1:0.88$. What is the plan to insure arbitration for pAssets prices?
Dave: Quebs, Arbitrage is important. There is a new proposal to increase the PEG available for arbitrage when the price of a pAsset is more than 1% different from its reference price. I think this type of improvement is important so that people can more quickly get paid to close the gaps in prices between the PegNet and the exchanges. There is a really useful diagram on the arb process in this article. https://medium.com/pegnet/predictable-supply-of-peg-3fd39124f36

Edogawa: What problems do you see with stable coins?
Dave: The biggest problem with stablecoins is either you have to trust a central reserve or you have to pay stability fees if its collatteral based. PegNet solves both problems as people add their own value to the assets on PegNet and there is no central reserve.
Abisola Lawal: What asset basket balancing strategy does Pegnet adopt?
In a situation where there’s lack of balance in the market, how will this be resolved?
Dave: PegNet doesn’t act like a basket. Each pAsset is priced by itself. pUSD is pegged to the USD price. pGold is pegged to the Gold price and so on. So people can choose what type of value they want to hold. The PEG token itself is used for the mining reward, for arb in the system and its the main gateway into the PegNet for people who want to hold pAssets. So PEG is the only variable token in the system, everything else is referencing either a crypto, fiat or metal price.
Oleg: It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks Dave for taking the time. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!

️ Any questions regarding PegNet will be sure to answered at
https://t.me/PegnetOfficial
Dave: Thanks everyone. Great questions. Very smart community!

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Oleg

Key Events We held a Banano AMA in Vite telegram group on 3 pm UTC+0 January 17, 2020. The AMA was hosted by Oleg , Vite community lead, and attended by Bbedward (Banano Core Developer) Bantano19 (Core Team Member and Lead Community Developer), DavideBarbieri (Community Manager).

About Banano

Banano is a 4th generation fungible & edible cryptocurrency with a cool yellow logo and particles.js background. Their team is top-notch and the project advisors are by a moonshot best in the business.
Is this a real life or just a fantasy ?
This is serious fun! Their mainnet is stable and highly active since April 1st, 2018. Their blockchain count is nearing 5 million blocks and their mobile wallet is not only beautiful, but also works great for instant transactions. They have a fantastic supportive community that is most active on our Discord channel with ~22,000 members. They have many official and community projects happening that are pushing forward every day.
This is not vaporware, this is real, and it is awesome! Join the revolution!
What are they forked from ?
Nano currency.

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Introduction

Oleg: Hi, bbedward, bantano19, DavideBarbieri welcome to the Vite community! Congratulations on ViteX listing. I hope this is only the beginning of our successful cooperation
Oleg: ”How are you doing today ?
bbedward: ”Hi we’re excited to be a part of ViteX
Deiv: ”Thanks for having us here Oleg!
bantano: Hi! Thanks for having us over! Looking forward to this!
Oleg: ”We are very happy to have you here, on our joint AMA
Oleg: The very first question for you. Can you introduce yourself?
A simple three characteristic is preferred
bbedward: ”I’m doing well, just sipping on coffee getting ready to answer questions
Oleg:
bantano: I’m bantano, responsible for streamlining BANANO’s social media and community activities together with our community managers. And also sipping on coffee
bbedward: I’ve been part of BANANO since testnet began in March 2018, I’m a Python, Java, Javascript, Vue, Flutter, Android developer that’s worked on the discord bot, Kalium — the mobile wallet, bananominer.com, monkeytalks.cc, and a whole lot of other things.
Deiv: And I’m Deiv! One of the three community managers. I mostly take care of the community here on Telegram, and on Discord too
Oleg: Nice to know more about you.
Oleg: Ok, let’s start the Section 2
Oleg: Here we go the 1st question for you ~

Questions from the VITE team

What is BANANO and how did it start?
bbedward: Banano is the first-ever fork of the cryptocurrency Nano (formerly known as RaiBlocks). In late 2017 RaiBlocks ended their controversial distribution and burned all undistributed funds. RaiBlocks soared in popularity during the bull market until February 2018, when an exchange known as BitGrail was hacked — losing $170M worth of RaiBlocks (XRB). Later, in early 2018 the RaiBlocks team rebranded to Nano. There was heated discussion about the rebrand as there usually is with such a decision, but also there was memes. One of the memes was “BANANO.” Later, a BitGrail victim had the idea to make BANANO real — a meme coin that wouldn’t take itself too seriously with the same fast, feeless technology as Nano. On April 1st, 2018 the BANANO mainnet was launched.
bbedward: With a diverse group of initial core members that has since expanded. BANANO would bring back distribution in new, innovative ways. Through games such as the popular “BANANO Runner”, giveaways and tipping on social media (Discord, Telegram, Twitter), a folding@home “miner” — BANANO continues to evolve its distribution strategy. Numerous other innovations were released including Kalium, an innovative wallet for iOS and Android (later ported to Nano under the name “Natrium”), the “monKey”, uniquely generated avatar per BANANO address, CAMO Banano, and more. We aim to not take ourselves too seriously and to raise awareness and educate people on cryptocurrency, managing cryptocurrency, and more specifically DAG cryptocurrencies. Even though we’re a meme coin, we have released numerous products and innovations and have one of the most active communities in crypto.
Oleg: I would call it: Cool and Long Story️
Oleg: Move on to the next questions…
Oleg: Second question:

The distribution of BANANO seems quite unique, can you tell us more about how it works?
bbedward: Like I said the RaiBlocks distribution was controversial — that’s because a small amount of people got extremely large amounts, whether through cheating the captchas or running farms, etc. BANANO is kind of like a second attempt for free and fair distribution. We have had frequent battles with bots and cheaters but have evolved our distribution strategy to account for that. We started with a discord bot that ran giveaways, tipped active users, etc. and a 3d game called “Banano Runner”, where you controlled a monkey and collected bananas, in exchange for real banano. Since then we added new faucets including folding@home “mining” (bananominer), “Black Monkey”, “Meme Faucet”, “Monkey Match”. Some of these are 24/7 faucets and some of them run periodically so you should follow our social media channels for more details as we announce events, sometimes there’s even giveaways through our social channels (Twitter, Telegram, Discord) — we’ve also done airdrops to Nano holders, DOGE holders, active Kalium users. And there’s consistent rains and airdrops over on our discord server.
bbedward: Since the beginning we distributed roughly 30% of coins, last April 1st in celebration of our first anniversary 100M coins were burnt reducing the total supply.
Oleg: Very cool and unusual. Great attention to the community
Oleg: Do you plan to distribute coins further?
bbedward: Yes — distribution is ongoing and every day more coins are distributed through one of the faucets or social media.
Oleg: Got it. It looks like you will have more and more supporters
Now let’s talk about community… question number 3

Can you tell us more about the BANANO community and its attitude?
Deiv: Sure. The BANANO community is a unique ecosphere of crypto enthusiasts, and we have strong local communities especially from South America and Asia. Basically everyone is very welcome to get involved, help with development and distribution or propose projects. the team usually rewards the most creative people within the community, mainly through our Discord server, so everyone can earn some BANANO by making funny memes about us or by winning one of the multiple competitions we constantly host on our social channels: we think that as “mining” cryptocurrency with your creativity Overall, many people join Banano for the fun and memes and stay for the tech and comunity. If you join our Discord or other channels you will also experience that community members always will help each other and be supportive for people being new to crypto.
Oleg: As I understand it, the main part of your community is in Discord, right ?
Deiv: Yeah! We basically consider the Discord server as our Headquarters
Oleg:
Oleg: interesting, how everything is arranged inside and making decisions…next question about it
Oleg: Question # 4

Please describe the governance of Banano and how decisions about its future will be made?
bbedward: The governance of banano is centralized. There’s two founders as well as several core members that generally split the decision making. We’re more laid back, come up with ideas, and develop them on our own time. We have numerous community managers too which manage their own communities as they see fit in several languages — ie spanish, chinese, russian, turkish, italian, vietnamese. We do have a roadmap and some plans that we all work towards going forward.
Oleg: Do you have your headquarter locations?
bbedward: We also welcome community contributions, and frequently pay out bounties, rewards, etc.
bbedward: We all work remotely from all over the world. We have team members in the USA, across Europe, Turkey, Israel — there’s no central headquarters for BANANO.
Oleg: this can be called decentralization in a way
Oleg: Last question, let’s talk more about the future

What can we expect from Banano in the coming months?
bbedward: There’s a lot of things going on, you can checkout our website banano.cc where we have the roadmap. The biggest undertaking that’s always ongoing is focusing on distribution. Figuring out new faucets, how to streamline it, exclude potential exploits, avoid third-world countries relying on it as a source of income. We have plans for a 1-click discord bot that can be added to any discord server, we’re working on a new faucet game currently as well as “CAMO Banano”, which is a privacy layer that recently launched in alpha. We’re working on Kalium v3 — a rewrite of our already well-reviewed mobile wallet (kalium.banano.cc) Our community has several additional projects in the pipeline that focus on spreading and using BANANO as well.
Oleg: I’ll definitely look. We also had an airdrop and a faucet created by one of our block producers. Therefore, we understand how difficult it is to prevent it from being abused
Great, thanks for the detailed answers, bbedward, DavideBarbieri . And now we go to Section 3: For the free chat Q&A from community, I am looking for some good questions from community now.

Questions from the community

Sergey: How strength the KALIUM WALLET is? Can you share the major weakness of KALIUM wallet and how the team is combating it?
Natrium, which is forked from Kalium, was audited in June by red4sec (red4sec.com). They found no critical vulnerabilities and had some minor suggestions such as adding root detection, which we implemented. The rewrite with V3 is mainly focused on redesigning the interface, UX, etc. As well as improving performance. (Using Dart C-bindings for block signing, key derivation, etc.)
bbedward: Natrium, which is forked from Kalium, was audited in June by red4sec (red4sec.com). They found no critical vulnerabilities and had some minor suggestions such as adding root detection, which we implemented. The rewrite with V3 is mainly focused on redesigning the interface, UX, etc. As well as improving performance. (Using Dart C-bindings for block signing, key derivation, etc.)
Rohit: Why is your technology special? Can you explain more about the relationship between Directed Acyclic Graph (DAG)?
Deiv: Okay, basically the magic behind Nano (and so Banano) lays on its Blocklattice: transactions are asynchronous and that means they can technically happen together at the same time. You may also have noticed tx on Banano are feeless, that’s because it uses PoW in an innovative way: it’s not meant to be used for transactions validating, but as a spam-prevention PoW, so you can basically get a feeless system without risking severe spam attacks.
Natalie Portman: Everyone needs security for their assets because,Security is a community concern.
bbedward: BANANO has a few non-custodial wallets where security is up to you. Banano Vault (vault.banano.cc) for web, Kalium (kalium.banano.cc) for mobile. For these wallets, you control your own keys and all private key operations are handled locally. There’s also the new CAMO desktop wallet, which is currently in an Alpha state.
CF: Hi Banano Team and Oleg, Thanks for this oportunity. My question to the banano team is: When will it complete the CMC listing?
bantano: CMC is quite restrictive about listing, and not very fast with new listings. While Banano is on several newer/smaller exchanges already, CMC requires considerable volume over time on exchanges that are on CMC. With more exchanges like Vitex and more volume on those we’ll probably fully tracked and listed on CMC within the next weeks.
Until then, we recommend using coingecko.
https://www.coingecko.com/en/coins/banano
AngeI: Whats the Main use of Banano project because there are already many projects are available which provides feeless & instant transactions !
Whats the competetive advantages of your Banano project?
bbedward: BANANO has numerous advantages, while we’re still developing use cases, the fair and wide open distribution is a big thing that sets it apart from other coins. As well as the ease of running nodes, developing applications, etc.
Crypto_Kot: What motivated u guys to start this project banano? Do you have a word of encouragement for we the community? Can you tell us about your achievements? What important achievements have been achieved since the project started?
bbedward: So after Nano rebranded and millions of coins were lost due to the BitGrail hack, the Nano community started to die down as there were a lot of hard feelings over lost funds, rebrand controversy, etc. We thought we could make a coin that didn’t take itself so seriously, without controversy, that could help spread awareness and educate. It also gave us a chance to re-do the controversial distribution that Raiblocks had initially.
Dec: Can you give 2–3 killer features of BANANO over this competitors?
Deiv: Well that’s easy. Beside transactions being feeless and ultra-fast, we’ve been seeing lots of crypto newbies beginning their journey with Banano because, compared to other more complex cryptocurrencies, it’s more easy to understand: since transactions are feeless, you don’t need to worry about how much you’re going to pay in fees, so you can just do a few taps and you’re set. We basically aim to disrupt the barriers between the product on one side, and the user on the other: some of those barriers usually are exchanges poor UI, lack of knowledge about cryptocurrencies basics, price volatility. We destroy those barriers by distributing some of the coins to new users so they don’t have to go through poorly designed exchanges, and they won’t need to spend any money on them in order to get started. I like to define us as t”he crypto for younger generations” cause it’s meant to be the simplest digital currency out there.
Adebowale: What kind of ideas/initiatives do you have in mind that can be consolidated in the future and give a positive boost to banano project?
bbedward: BANANO is asynchronous, every account has its own block chain — the transactions between different account chains is why it’s a DAG. Multiple transactions can be occuring at the same time and reach confirmation in usually less than half a second. It uses a PoS consensus mechanism with “representative” nodes that resolve forks, reach consensus — there’s also no mining required, instead each transaction requires a small proof of work equation to be solved for anti-spam purposes.
ᗰIᑕᕼᗩEᒪ: What’s the use cases for Banano?
bantano: Similar to Nano, Banano is an ideal currency for micropayments due to its sub-second confirmation time and feeless character. Banano is the perfect coin to get started with crypto due to its intuitive UI, education and tipping options as well. It’s already used in thousands of transactions per day for tipping content creators on several social media platforms, and official and third party platforms. More integrations are upcoming, and MonkeyTalks and BananoJobs (https://www.reddit.com/r/bananojobs) were recently launched as first platform enabling everyone to use Banano as payment for smaller bounties. There are basically limitless options to use Banano, and we believe integration and use will increase even more while our community further grows.
Rohit (wHaLe): Why is your technology special? Can you explain more about the relationship between Directed Acyclic Graph (DAG)?
Deiv: Well, one of the ways we are trying to pursue is the gamification of cryptocurency. People usually think about crypto as a space where only investors with lots of money can get started, but we’re actually doing something really few projects are doing: democratizing crypto by letting young generations to know more about this space without being investors or speculators. We aim to do that by, for example, creating games that will let you earn BAN by playing them, as we’re doing with Banano Runner, which we’re currently working on.
Oleg: Well, we have ten winners, the rest of the answers will be outside the top 10
Oleg: It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks BANANO team for taking the time. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!
️ Any questions regarding Banano will be sure to answered at
https://t.me/banano_official
http://chat.banano.cc/
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African: https://t.me/vite_africa
Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitela

Oleg

74d4f46a-34c5-42a3-8468-15755c52d4b6-изображение.png

Many individuals and organizations have kindly provided donations of funds and products to those affected by the ongoing endemic in China. However, the public has almost no visibility into the historical quantity of such donations, and in the case of products, a pipeline and whereabouts of these products. In the last few weeks, Vite Labs prototyped a tool to take the first step towards solving this issue.

The problem

There is no aggregated, verified and tamper-proof data for both donated funds and products
There is no real-time visibility of the location of donated products during transportation

The solution

Allow donors to upload the data for their donated funds and products, such as target entity (e.g., Local Red Cross organization), donated amount (or quantity for products), target address (products only), pictures and description of the donated items (products only), et.
Upon user upload of donated products data, programmatically verify with partner logistics companies about details of such items. Collect real-time location data of donation shipments from logistics companies.
Upon user upload of donated funds data, allow bank partners to audit such data.
Store all data on a Vite Plus-enabled blockchain (Consortium chain).

Current status

The prototype of Vite Plus donation platform allows users to upload donation data and stores it in a tamper-proof blockchain. It is now live at https://donation.viteplus.net/ Note that, because this tool is meant for Chinese users, it displays Chinese only, and users must have a Chinese mobile phone to upload data.
The next step would be partnering with logistical companies and banks to provide ability to verify donation data prior to its entry on the blockchain.

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Conclusion
We look forward to discussions with potential government and business partners in taking advantage of the Vite Plus Donation Platform. We hope to leverage blockchain’s unique features in the fight against the epidemic.

Oleg

Начиная с 15:00 HKT (UTC +8) 20 февраля, торговые пары TERA / BTC и TRB / BTC будут доступны для Маркет-Мейкинга как Майнинга. Кроме того, трейдеры будут получать 5x VX вознаграждений в течение недели как по заявкам на покупку на рынке, так и по заявкам на продажу, размещенным в диапазоне майнинга для торговой пары TERA / BTC и BTC / USDT. Мероприятие начнется в 15:00 HKT (UTC +8) 20 февраля и закончится в 15:00 HKT (UTC +8) 27 февраля. В настоящее время награды за майнинг составляют 10% от общего выпуска VX в каждый день, при этом рынок торговли BTC занимает 5%, рынок торговли ETH и VITE - 1,5%, а рынок торговли USDT - 2%.

Диапазон для Маркет-Мейкинга как Майнинга для Торговых Пар

96711147-43af-466c-b1a6-dcda493648c8-изображение.png

Замечания: Соотношение вознаграждений VX от покупок к продажам ограничено. Когда соотношение достигает предела, если вы продолжаете размещать ордера на покупку, их награды VX НЕ будут увеличены. Соотношение вознаграждений VX от продаж к покупкам также ограничено. Когда соотношение достигает предела, если кто-то продолжает размещать ордера на продажу, их награды VX НЕ будут увеличены. пример Предположим, что на рынке BTC есть только торговая пара TERA / BTC, и все ордера размещаются на 24 часа, в общей сложности 250 VX будут выделены в качестве вознаграждений за майнинг. Рассмотрим пять сценариев следующим образом:

0c3b6775-92b2-44db-842e-edf80e4f1efe-изображение.png

Расчет майнинга ведется следующим образом:

Базовое число 1 пользователя на одном рынке в день = сумма всех базовых чисел каждого ордера этого рынка. Здесь базовое число (m) зависит от трех факторов: времени ордера (T), суммы ордера (A) и коэффициента майнинга (y). То есть m = T * A * y (T ≥ 300 секунд)

Сумма Базового числа на одном рынке в день = сумма Базовых чисел всех приемлемых ордеров в этот день. То есть M = m1 + m2 + m3 + ..... mn

Добытые VX от 1 пользователя = m / M * 2,5% * VX ежедневная сумма в этот день.

Ссылки:
Сайт ViteX: https: //vitex.net/
Скачать приложение Vite: https: //app.vite.net/ Twitter ： https: //twitter.com/ViteXExchange Телеграм: https: //t.me/vitexexchange

19 февраля 2020 г. Команда ViteX

Oleg

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Starting 15:00 HKT（UTC+8) Feb 5, trading pair BAN/ETH will be enabled with Market-making as Mining.

Moreover, traders will receive 5X VX rewards for one week on both Market-Making buy orders and sell orders placed within the mining range for trading pairs BAN/ETH and EPIC/BTC.

The event will start at 15:00 HKT（UTC+8) on Feb 5 and end at 15:00 HKT（UTC+8) on Feb 12.

Trading Pair MM Mining Range
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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.

Suppose that the ETH market has only BAN/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:

alt text

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

-------------------------------------------

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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

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System Development

After a year of hard work and product release at breakneck speed, our development team took a much-deserved break during China’s Spring Festival holiday.

Activities

Banano Airdrop

On January 17th, Vite community invited Banano team to an AMA. After that, five million Bananos were airdropped to Vite wallet users.

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Binance Russia x Vite Labs AMA

On January 21st, Vite and Binance Russia jointly held a video AMA, and discussed further collaboration between the two entities.

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Silicon Valley Bitcoin Meetup

On January 23rd, Vite COO Richard Yan, also a co-organizer of Silicon Valley Bitcoin Meetup, helped put together a seminar on tax issues related to cryptocurrency assets. At the event, Richard also introduced Vite Labs and its products to attendees.

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Richard speaking at SV BTC event

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Speakers at SV BTC’s crypto asset tax event

Blockchain Nigeria User Group AMA

On January 23rd, Vite Labs held an AMA hosted by Nigeria’s premier blockchain organization. During the session, Richard Yan (COO) discussed Vite’s vision and tech by answering participant questions.

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Community Manager Convening in Beijing HQ

In January, Vite’s Vietnamese community member Bonita visited the Vite office in Beijing, and caught up with the team on future plans!

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Bonita visiting Beijing office

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Bonita getting some Chinese food with some of the Vite 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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

Recent Milestones

In December 2019, the Vite Android Wallet started to support GRIN. Users can make GRIN transactions in Vite Android Wallet now.
On December 19, ViteX opened XRP/BTC, EOS/BTC trading as mining, and PEG/BTC pair market-making as mining.
On December 19th, ViteX referral as mining was updated. Add-on rules can be viewed at: https://forum.vite.net/topic/3130/an-update-to-the-rules-of-referring-as-mining-on-vitex
On December 24, Vite formed a strategic partnership with TROY, a global broker specialized in crypto trading and asset management. The two parties will jointly discover the safe and efficient solution for DAG-related technology for decentralized trading and clearing process.
On December 25, Vite Labs opened the WAVES/BTC trading pair, and started trading as mining and market-making as mining.

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On December 30, VX allocation of market-making as mining were upgraded. Instead of each market (BTC, ETH, VITE and USDT) being weighted equally at 2.5%, the adjusted market allocations are: BTC market — 5%, ETH market — 1.5%, VITE market — 1.5%, USDT market — 2% of daily VX amount.

System Developments

go-vite

Improved go-vite docker script deployment
*Added go-vite check module

Vite Wallet App

Android V3.2.1 was released: Optimized the experience of GRIN-related functions
*iOS V3.4.0 in development: DeFi requirements have been developed and tested

ViteX Exchange

ViteJS added automatic receiving function version 2.3.3
ViteX V3.3.0, staking for full node function has developed
The dark theme of ViteX was finished and to be tested
The functions of the Exchange server are live, including: adding extra reward of MM as mining for invitation, query of burned VITE amount, increased exchange contract stability
The development of full node staking and voting rewards has been completed, and a testing environment has been deployed.
Added a coefficient parameter of market-making as mining. The development is completed and to be launched.

DeFi

Built-in contracts development were completed and started to test
Added reconciliation and timing functions

Hardware Wallet

Ledger hardware wallet development
*Implemented address derivation
Implemented the signature receive block

-----------------------------------------------------------

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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

alt text

Recent Milestones

In December 2019, the Vite Android Wallet started to support GRIN. Users can make GRIN transactions in Vite Android Wallet now.
On December 19, ViteX opened XRP/BTC, EOS/BTC trading as mining, and PEG/BTC pair market-making as mining.
On December 19th, ViteX referral as mining was updated. Add-on rules can be viewed at: https://forum.vite.net/topic/3130/an-update-to-the-rules-of-referring-as-mining-on-vitex
On December 24, Vite formed a strategic partnership with TROY, a global broker specialized in crypto trading and asset management. The two parties will jointly discover the safe and efficient solution for DAG-related technology for decentralized trading and clearing process.
On December 25, Vite Labs opened the WAVES/BTC trading pair, and started trading as mining and market-making as mining.

alt text

On December 30, VX allocation of market-making as mining were upgraded. Instead of each market (BTC, ETH, VITE and USDT) being weighted equally at 2.5%, the adjusted market allocations are: BTC market — 5%, ETH market — 1.5%, VITE market — 1.5%, USDT market — 2% of daily VX amount.

System Developments

go-vite

Improved go-vite docker script deployment
*Added go-vite check module

Vite Wallet App

Android V3.2.1 was released: Optimized the experience of GRIN-related functions
*iOS V3.4.0 in development: DeFi requirements have been developed and tested

ViteX Exchange

ViteJS added automatic receiving function version 2.3.3
ViteX V3.3.0, staking for full node function has developed
The dark theme of ViteX was finished and to be tested
The functions of the Exchange server are live, including: adding extra reward of MM as mining for invitation, query of burned VITE amount, increased exchange contract stability
The development of full node staking and voting rewards has been completed, and a testing environment has been deployed.
Added a coefficient parameter of market-making as mining. The development is completed and to be launched.

DeFi

Built-in contracts development were completed and started to test
Added reconciliation and timing functions

Hardware Wallet

Ledger hardware wallet development
*Implemented address derivation
Implemented the signature receive block

-----------------------------------------------------------

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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

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We are proud to announce a strategic partnership with Troy Trade, the global prime broker specialized in crypto trading and asset management. Vite now is the eleventh member of the “Global Ecological Community Program” launched by TROY, which is designed to break the trading barriers of crypto assets and build a frictionless, integrated crypto asset trading ecosystem. Troy will also join the Snapshot Block Producer of Vite network as well.

TROY, derived from Troy Network, will work closely with Vite in devoting R&D resources towards the development of Troy Network. Specifically, Troy will adopt Vite’s innovative scalability solution that offers high frequency and low latency transaction processing network, low cost and security features. Also, Troy Network will integrate with ViteX’s high-performant technology in the transaction layer, upon which Troy Network will build a fast and secure decentralized exchange protocol. Simultaneously, TROY could provide Vite with practical application scenarios, like trading marketplace and settlement network. In Troy Network, the whole system architecture consists of four layers, including the public chain protocol layer, the off-chain trading layer, the settlement network layer and the application layer.

“Troy and Vite can join hands in researching areas of decentralized trading. Vite looks forward to working together as the two projects have similar views on how the industry of trading will move forward.” Commented Richard Yan, COO of Vite.

About TROY

Troy Trade is a global prime broker specialized in crypto asset trading and asset management. Troy provides crypto brokerage services for institutional clients and professional traders with revolutionary products, including spot & margin trading, derivatives, data, custody, lending and staking in one account.

About Vite

Vite is a feeless, high-performance public chain and the first of its kind to implement a DAG-based smart contract capabilities. The original asynchronous architecture, hierarchical consensus and snapshot chain technology make Vite an industry-leader in terms of performance and commercial-level application support. To date, Vite has a steady record of deploying practical applications on its platform, with products including a decentralized exchange, a public financing dApp for the City of Syracuse, multiple on-chain games, and micropayment platforms.

----------------------------------------

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

Oleg

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In order to attract VITE holders to run full nodes, and further improve the number of full nodes and the robustness of Vite network, we will upgrade the full node reward system, and modify the model to run full nodes.

Upgrade date
January 7, 2020 (HK time)

Details

Users who run full nodes and stake at least 10,000 VITE will receive two type of rewards: uptime rewards and voting rewards
Users who run a full node without staking at least 10,000 VITE will no longer receive rewards

Notes
The rewards will be calculated as follows:
*mFor example, users who run 10 nodes and stake 50,000 VITE will receive rewards of 5 full nodes and rewards of voting 50,000 VITE.

For example, users who run 10 full nodes and stake 200,000 VITE will receive rewards of 10 full nodes and rewards of voting 200,000 VITE.

Staking steps: Open https://x.vite.net, select the third tab on the left, and click on the full node page above to stake VITE (to go live on January 7).
Staking description: The staked VITE will be deposited into the smart contract and will automatically vote for the official SBP Vite_SBP03. The voting income will be automatically distributed to the source staking address on a daily basis with a 100% distribution rate.

Oleg

Thanks @Michi ! We'll consider this

Oleg

Hello @nik12! The answer depends on the question. I am always happy to receive detailed questions and try to answer them as informatively as possible, however, it is very important for me to rely solely on official information. All wishes and suggestions are transmitted directly to the team and reviewed, we are always open to discussions about the development of the Vite.

Oleg

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We have received a significant amount of positive feedback on the updated rules of market-making as mining. To further encourage the mining experience, we will introduce the second batch of trading pairs to be eligible starting 7 am UTC+0 November 21, and adjustments to the mining range of trading pairs VITE/BTC, VITE/ETH, and VITE/USDT. See details below:

New Eligible Trading Pairs

Starting 7 am UTC+0 November 2, traders will receive VX for both buy orders and sell orders placed within the mining range on the following trading pairs, and the PASC/BTC trading pair is no longer valid for receiving mining rewards with trading.

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Adjusted Mining Range for Selected Trading Pairs

The mining range for trading pairs VITE/BTC, VITE/ETH, VITE/USDT has been increased from 5% to 15%, and mining range for other pairs remains the same.

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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 GRIMM/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:

alt text

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

Note: Mining ranges may be subject to future adjustment.

--------------------------------------------------------

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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

alt text

We have received a significant amount of positive feedback on the updated rules of market-making as mining. To further encourage the mining experience, we will introduce the second batch of trading pairs to be eligible starting 7 am UTC+0 November 21, and adjustments to the mining range of trading pairs VITE/BTC, VITE/ETH, and VITE/USDT. See details below:

New Eligible Trading Pairs

Starting 7 am UTC+0 November 2, traders will receive VX for both buy orders and sell orders placed within the mining range on the following trading pairs, and the PASC/BTC trading pair is no longer valid for receiving mining rewards with trading.

alt text

Adjusted Mining Range for Selected Trading Pairs

The mining range for trading pairs VITE/BTC, VITE/ETH, VITE/USDT has been increased from 5% to 15%, and mining range for other pairs remains the same.

alt text

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 GRIMM/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:

alt text

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

Note: Mining ranges may be subject to future adjustment.

------------------------------------------------------

Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Instagram: https://www.instagram.com/vite.labs/?hl=en
Twitter: https://twitter.com/vitelabs

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

alt text

In order to provide users with a better experience of market-making as mining, ViteX will open more eligible trading pairs for market-making as mining on 7 am November 19 UTC +0. The rules of the first batch are as follows:

alt text

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 1

Say the BTC market only has ETH/BTC trading pair. The BTC market is allocated mining rewards of 250 VX in the last 24 hours. Consider five scenarios below:

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Example 2

Suppose that the USDT market has only VITE/USDT trading pair, and mining rewards of 250 VX gets allocated in the last 24 hours. Consider five scenarios as follows:

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With trading pairs involving VX and VITE, when the total amount of mining-eligible sell orders exceeds the total amount of mining-eligible buy orders, the ratio of buy order VX rewards and sell order VX rewards is 1:100.

The mining calculation formula is 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

Special Note:
1. Mining eligible order ranges may be subsequently adjusted;
2. We have selected the above trading pairs for initial trials; more trading pairs may be added in the future.

-----------------------------------------------------

Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Instagram: https://www.instagram.com/vite.labs/?hl=en
Twitter: https://twitter.com/vitelabs

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

alt text

Recent Milestones

On November 5th, the final voting results for VX curve release schedule was published. The total amount of VX will be about 28 million, and released in 8 years. In the first 90 days, it would gradually increase from 10,000 to 50,000, and then begin to decrease. (https://medium.com/vitelabs/final-decision-of-vx-releasing-curve-9a4f535242d8)
ViteX will open the BUSD deposit at on November 5. The BUSD/USDT trading pair was opened on November 6.

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November 15th, ViteX Exchange announced an update on market-making as mining. (https://medium.com/vitelabs/an-update-to-the-rules-of-market-making-as-mining-80a09184518b)

System Developments

go-vite

Upcoming hard fork in November:

Remove the verification of the total circulation is greater than or equal to the basic unit;
The additional issuance of coins can be allowed to fill in 0 when the coin is minted;
SBP ownership and reward withdrawal permissions are separated;
The group id in the consensus-related contracts were removed;

Vite Wallet App

Completed:

Android wallet V3.1.4 was released:

Optimized network request speed for wallet and exchange;
Fixed an occasional bug in ViteConnect reconnection.

iOS wallet V3.1.3 release and network speed were improved.

Web wallet V1.3.0 Historical Order Optimization.

Web wallet Overall Network Optimization.

Multiple requests of staking for quota will no longer be merged into one request.

In process:

Android wallet V3.2.0 development:

Exchange page optimization 50% complete;
Error log reporting function 50% complete;
Delete mnemonic function was completed;
Transfer push notification function 80% complete;
Android Grin development 70% complete.

iOS wallet development:

Exchange page optimization was completed;
Error log reporting function was completed;
Delete wallet function was completed;
The exchange mining invitation binding function 60% complete.

The ViteJs SDK supports hard forks. ABI and interface was changed. Updated test cases.

ViteX Exchange

DEX service:

The test for selling as mining is completed and is expected to release next week;
The environmental data assessment and performance test of the selling order as mining is completed;
The depth merge development has finished in advance, and the front end is expected to release next week;
Exchange server order query performance optimization, in progress;
OpenApi problem troubleshooting, fixed the error return status;
The development of hard forks is completed (adding invitations to put orders), to be tested.

New requirements for exchange contracts:

Vite dividend pool optimization development finished 100%;
Burn VITE in the dividend pool; the staking mining ratio is adjusted to 10%;
Development release curve logic was completed;
Staking record split development was completed;
VX lockup on the smart contract level.

Vite Labs gateway now supports BUSD.

Activities

Charles Liu, Vite Labs founder and CEO was invited to attend the Wuzhen (China) Blockchain Conference. On November 9th, during the sub-forum “D-future: The Future of Decentralized Finance”, Charles discussed Vite’s efforts in contributing to the development of DeFi. (https://medium.com/vitelabs/vite-embracing-defi-32aa1d8b7e79)

alt text

-----------------------------------------------------------

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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

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Recent Milestones & Community Events

On October 23, the VX release curve was voted on the first time. According to the plan, option 2 — low supply with slow release had the highest votes. We are currently having the 2nd round of vote. Result will be announced soon. https://medium.com/vitelabs/vote-of-vx-release-curve-7fc9ed304590
On October 25th, OKEx mining pool has officially joined as Vite SBP (named okexpool). Users will be able to stake VITE on OKEx mining pool to earn rewards in the future.

System Developments

go-vite

Solved the problem of vm frequently creating and destroying objects during synchronization;
Determined the built-in contract logic optimization for the coming hardfork in November, including:

Removing the verification that the total circulation is equal to or greater than the base supply;
Total supply for newly minted coins is now allowed to be zero;
Separation of SBP owner permissions and token reward withdrawal permissions;
*Removing the consensus group id from consensus-related contract method;
Changing staking quotas, such that multiple staking requests aren’t merging.

Go-vite to be released pre-release version:

Fixing problems with data errors in synchronization
Solving the problem that vm frequently creates and destroys big.int during synchronization

**#anchor(Vite Wallet APP)

Completed:**

iOS V3.1.0 and Android V3.1.1 were released, with these new features: switching transaction pairs, trading pair search functions
Web Exchange: Switching transaction pairs, asset transfers, historical order screening
ViteJS has released 2.3.0-alpha.1. For details see the last bi-weekly report

In Progress:

Web Exchange 3.1.0 Optimization: Without logging in, users can now interact with the buy/sell module
Android Grin research feasibility is completed, wallet development progress at 40%
Overall network acceleration solution design and development for App and Web wallet

ViteX Exchange

Increased the scalability of OpenApi service;
Optimized parameters of server API deployment;
New feature requests for “market making is mining (for sell orders)” have been implemented and are undergoing internal testing;
The optimized and re-structured version of “market making is mining” is undergoing internal testing;
New requirements for the DEX smart contract:

Vite dividend pool optimization development is 80% complete
VITE in the dividend pool has been completely burned; the staking as mining ratio is adjusted to 10%
Release curve logic is undergoing development, at 90% completion
Vite Labs Gateway supports receiving ETH transfers from smart contract.

Activities

Vite Labs CEO Charles Liu was invited to participate in the 2nd World Blockchain Conference, with hundreds of global blockchains, digital assets, AI, 5G experts, scholars, thought leaders in Wuzhen, Zhejiang Province in China. The conference will focus on the application of blockchain, frontier technology, industry trend, and empowering blockchain innovation.

alt text Richard at SFBW

From October 28th to November 1st, 2019, COO Richard Yan and CSO Chris Li participated in the San Francisco Blockchain Week, and discussed with industry stakeholders interested in joining the Vite ecosystem. These individuals come from areas such as stablecoins, crypto derivatives service providers, decentralized finance (DeFi), and centralized exchanges.

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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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

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A week ago, we released a poll for potential VX release curve options. Since then, we have received hundreds of votes and many suggestions from our global community. Thanks to everyone for participating! A re-cap of the previous options can be found here: https://forum.vite.net/topic/2816/vx-release-curve-poll-results/2.

In that poll, option 2 (Low supply with slow release) received the most votes, with option 1 coming in second place (Low supply with fast release). Based on this polling result, our team came up with two release curve designs, with a mixture of long release schedule and a fast release in the first 2–3 year (slow release afterwards).
We ask that you vote for one of these two as your top choice!

VX Release Plan #1

Total supply about 28 million, released in about 8 years. In the first 90 days, increase daily release from 10k to 50k, and then start to decrease. Detailed data below (this release schedule takes place at the conclusion of the current daily 10k distribution):

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VX Release Plan #2

Total supply about 45 million, released in about 8 years. In the first 90 days, increase daily release from 10k to 80k, and then start to decrease. Detailed data below (this release schedule takes place at the conclusion of the current daily 10k distribution):

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Please vote here: https://forms.gle/tymPMLZLmCVqmMxo6
Voting period: October 23–29 UTC +0

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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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

ViteX будет поддерживать монеты и токены Harmony Native $ OneE, выпущенные на блокчейне Harmony через шлюз Vite Labs.

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Мы с гордостью сообщаем, что сотрудничаем с Harmony для совместного создания экосистемы блокчейна! ViteX будет интегрироваться с блокчейном Harmony через шлюз Vite Labs для создания торговой площадки для цепочки Harmony Blockchain. В течение примерно 4 недель как монеты Harmony $ ONE, так и токены, выпущенные на блокчейне Harmony, будут продаваться на ViteX.4

О Harmony

Harmony — это быстрый и безопасный блокчейн с инновациями в стейт шардинге. В его шардинге используется безопасное Proof of Stake и децентрализованная случайность, а его сетевое взаимодействие обеспечивает оптимальную маршрутизацию криш-шард и быстрое распространение блоков. С момента запуска Mainnet в июне, Harmony смогла привлечь много внимания со стороны разработчиков. Dapps начали строиться на блокчейне Harmony, и некоторые из них выпустили свои собственные токены. ViteX станет первым обменом, интегрированным с блокчейном Harmony и его собственной монетой ONE. Активы, выпущенные на блокчейне Harmony, могут быть проданы на ViteX.

О ViteX

ViteX — это действительно децентрализованная биржа, построенная на публичной сети Vite, с бескомпромиссно быстрыми, открытыми и прозрачными, справедливыми для всех и управляемыми сообществом функциями. Операторы могут размещять свои собственные токены и контролировать свои торговые сборы. ViteX также имеет свой собственный токен, VX, который добывается исключительно сообществом ViteX без продажи токенов. Добыча включает в себя торговлю, листинг, стейкинг и маркет-мейкинг на ViteX.

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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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/

Oleg

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Мы запустили ViteX, первый по-настоящему децентрализованную биржу, в июле 2019 года. Vite Labs Gateway является официальным шлюзом для ViteX, и мы с гордостью сообщаем о защите не имеющей слабых мест. Knownsec Information Technology, известная в Пекине фирма по аудиту безопасности, провела расширенное тестирование проникновения для Vite Labs Gateway. В этом тесте участвовало 34 аудита безопасности в 7 категориях, включая уязвимость кода, стратегию защиты, конфигурацию промежуточного программного обеспечения, безопасность базы данных, безопасность связи, раскрытие информации и безопасность сервера. Наконец, нас оценили как ★★★★★ безопасно!

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Knownsec имеет более чем десятилетний опыт работы в сфере кибербезопасности. Они продолжают исследовать и анализировать приложения блокчейна и проблемы безопасности в них. Их комплексное сервисное решение обеспечивает безопасность пользователей в многосекторных бизнес-сценариях и на разных этапах развития. Известные другие клиенты включают Tencent, Microsoft, Baidu, Bitmain, Huobi и т. д.

Результаты нашего аудита безопасности свидетельствуют о высоком уровне надежности активов пользователей ViteX. Vite Labs будет продолжать развивать нашу инфраструктуру и обеспечивать, чтобы участники нашей экосистемы были должным образом защищены и обслуживались лучшими в отрасли блокчейнов.

Подробные результаты аудита безопасности можно посмотреть здесь:

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(Примечание: наша единственная системная дыра — каталог столбцов и другие неверные конфигурации — уже исправлены.)

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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

Discord: https://discordapp.com/invite/CsVY76q
Reddit: https://www.reddit.com/r/vitelabs/
Facebook: https://www.facebook.com/vitelabs/