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    Posts made by Oleg

    • RE: Vite Developer Committee

      DECLARATION OF CANDIDACY

      Name:
      Oleg
      Discord username:
      Oleg#3520
      Telegram username:
      @OlegEnthusiast
      How long you've been with Vite community:
      2.5 years
      Why you are interested in becoming a member of the Vite Developer Committee:
      I always try to help the Vite as much as I can
      What contribution you will be able to bring to this committee:
      Everything related to the community and its development
      Other information about you (Optional, such as example ideas of new projects to build on Vite, or your past involvement in tech):
      Not to strong in dev, but I understand the technology well and how everything works, I can tell what is most relevant for development at the moment.

      posted in Tech
      Oleg
      Oleg
    • ViteX One-Year Anniversary Dual Campaign Winners

      List of winners:

      vite_4d0109 ********** f99070ac
      vite_873f5a ********** b4f7e2ab
      vite_2edbfa ********** d91a0e9e
      vite_df68ad ********** 45b4715f
      vite_27e434 ********** 8a96528e
      vite_1a6926 ********** b5f2946e

      Dear winners,

      In order to receive the rewards, write me a personal message on Twitter (https://twitter.com/OlegEnthusiast) with your full vite_address. Also you should make a retweet of this https://twitter.com/vitexexchange/status/1314338396085473280?s=21, with your thoughts about ViteX and tag at least three contacts on twitter. The one, whose retweet gets the most likes will receive a T-shirt from us as a souvenir 🎁.

      Thank you all for participating!

      posted in Campaigns
      Oleg
      Oleg
    • Vite Techie Club #1

      alt text

      Dear Community,

      Vite is two years old now. Thanks for your accompany and support so far. Since Vite’s earliest days, we have developed a reputation for our strength and innovation in tech. We have been asked so many times by enthusiastic community members and developers to participate in the tech discussions with Vite core devs, so they can contribute great ideas and even write code. As such, we are pleased to announce the launch of Vite Techie Forum, a series of regularly-held, text-based online discussion events, where we invite all technocrats to incubate Vite’s future plans!

      We present to your attention a recap of the debut Techie Forum event in which you can meet our developers and learn about plans for the development of the gateway structure. Enjoy!

      Allen at 3:00 PM
      Today will be our first hangout for Vite Techies and the community! I am glad to announce the kick-off of the Vite Techie Forum event series.
      It will be a platform for Vite Techies and the community to exchange ideas and conduct technical discussions with the Vite core dev team.
      The topic today is the decentralization of ViteX gateway, a frequently asked question concerned by many Vite and ViteX users.
      We are glad to invite two core dev members, Viteshan and Wills Lee, to join the discussion.

      Allen at 3:03 PM
      Allow me to introduce them now
      Willis is the architect of ViteX. He led the design and implementation of the ViteX smart contract and related components. He wrote the ViteX explained tech article series on Medium.

      weichaolee at 3:03 PM
      Thanks @Allen , Welcome everyone to discuss something about ViteX gateway evolution

      Allen at 3:05 PM
      Viteshan is a talented full-stack engineer, a key contributor to Vite's protocol, and the architect of the Vite public chain. He is driving the scheme design of Vite 2.0. Shoot him questions if you would like to know more about the everything of Vite.
      Allen at 3:07 PM
      Over the weekend I've sent out a deck. I hope you went it through.
      In the deck, I simply introduced the background, current solution of ViteX gateway, and a proposed plan (mainly raised by the team ).
      Today, we are going to talk about the decentralization of gateway first
      then we will go through the proposal. We are also open to other plans, so chime in if you have something cool for us. lol
      Let me shoot some questions to Willis and viteshan.

      So, Willis, what do you think about the decentralization of exchange gateway, do you think it is necessary?

      weichaolee at 3:13 PM
      I absolutely believe it's very necessary for gateway to be decentralized. gateway decentralization will make assets more secure and transparent, just like what we have done in ViteX

      Allen at 3:15 PM
      @viteshan also please share your thoughts

      viteshan at 3:15 PM
      yeah the goal of VITEX is the largest and most convenient DEX.
      However, the current solution cannot allow all tokens to be traded freely in VITEX.
      Whether it is the token on ETH or the token on TRON. We need to improve our agreement so that any token on any chain can join freely in the VITEX exchange.

      Allen at 3:16 PM
      As the fully decentralized exchange, some users have asked about the gateway, is it decentralized too? So I think this will be our answer
      We will set up a decentralized gateway plan in ViteX gateway 2.0. It will be secure, convenient, and fully decentralized.
      Ok the 2nd question
      @viteshan @weichaolee can you briefly introduce the well-known decentralization schemes for gateways, their pros and cons, and why you finally choose this one?

      viteshan at 3:19 PM
      In general, there are three schemes for cross-chain gateways.
      The first is Notary. In this scheme, a (or several) notaries are responsible for verifying transactions on both chains and then operate the gateway account to transfer the counterpart token to the user.
      Notaries are easy to implement, the gateway in ViteX Gateway 1.0 takes notary scheme.
      The second method is the side chain. In this solution, an independent chain is usually used to store and verify transactions on the original chain.
      The verification of cross-chain transactions is written into the side chain and must be confirmed by all the nodes, usually through smart contracts.
      The benefit of this mode is the transactions are more transparent and gateway confirmations are more reliable, but the setback is the side chain is more complicated and takes time to implement.
      Atomic swap (HTLC) is widely used in scenarios where two users need to swap their tokens into another.
      The atomic swap is settled at a fixed, negotiated price before the deal is made.
      It often relies on the users happen to have the demand to swap, otherwise, the deal may not be complete in time.
      So usability/liquidity will be the biggest problem because you are "swapping" with another guy.

      Allen at 3:27 PM
      Thanks
      Very detailed explanation
      @weichaolee what's your opinion here?
      can you share some insight with our community?

      weichaolee at 3:29 PM
      The tradeoff also is very important for any solution for concrete implementation so will combine former solutions as our final solution.

      Allen at 3:30 PM
      Thanks Willis
      Now I will leave 5 mins for Vite Techies and our community to bring their ideas or questions.
      Crypto Bear at 3:31 PM
      Does ViteX gateway 2.0 apply to all ViteX Operators? If so then they no longer need to set up a gateway...etc?

      weichaolee at 3:32 PM
      @Crypto Bear It will be an open gateway framework applicable to all operators, When an operator lists a new coin, he should implement the necessary gateway features (deposit/withdrawal/contract, etc.)

      stone at 3:32 PM
      @weichaolee since they will no longer hold funds or control, in case any issues, then who's responsible?

      weichaolee at 3:34 PM
      @stone The funds will be stored in a smart contract deployed by the operator. The decentralization relies on how many witnesses the smart contract designates.
      The witnesses as well as the operator are responsible for any loss or misappropriation of the funds. If the loss comes from a defect in the smart contract, the owner of the smart contract will be responsible.

      stone at 3:35 PM
      @weichaolee is it related to the number of Supernode of the whole network?

      weichaolee at 3:37 PM
      The witnesses as well as the operator are responsible for any loss or misappropriation of the funds. If the loss comes from a defect in the smart contract, the owner of the smart contract will be responsible. more detailed solutions need be involved in our decentralized gateway roadmap

      stone at 3:40 PM
      @weichaolee
      Which means the anonymous Operator still exists and users still need to choose the trusted Operator to deposit their coins instead of choosing a random Operator?

      weichaolee at 3:42 PM
      @stone witness does not equal to Supernode, a witness is a designated address, that somehow granted the right for approving tx that broadcasted by the operator
      users no need to trust the operator, the deposit/withdraw process will be confirmed decentralized by witnesses

      Bob6768 at 3:32 PM
      I remember you guys had a DDoS recently, so how does the new gateway prevent DDoS attack?

      viteshan at 3:35 PM
      @Bob6768 In general DDoS is not much related to the detailed technical implementation of the gateway.
      it's more about how you deploy the services and API endpoints on the network so they can recognize malicious visits and then block them.
      And to answer your question - yes the new gateway will be fully available under DDoS attacks. In fact, the last DDoS did not affect the vitex gateway.

      super at 3:34 PM
      I have an idea regarding listings on VITEX. For the moment it is needed an operator to do this job but what if we have a system in which every listing is decided by VX holders? Example: VITE team will conduct a poll in which an amount of tokens will be available to be listed. VX holders will vote for the coin which they want to be listed. Everything will be in the wallet and on-chain. This way there will be no need for centralized operators anymore and more coins will be available on vitex.

      viteshan at 3:39 PM
      @super Exactly. New listing from voting by VX holders will be part of the decentralized governance of ViteX 2.0.
      We will set up a voting contract in the new ViteX model, so everyone having VX (above the minimum threshold) will have a chance to vote.

      Allen at 3:40 PM
      Cool. Thanks guys for the questions and the answers. Very hot discussion. Now let's take a closer look at the proposal. Let me paste some content from the deck here.
      This is the deposit process of the new decentralized gateway proposal
      you guys can see the solution is based on Witness + Multisig + Smart Contract / P2SH
      Original/mapped assets are stored in gateway smart contracts
      Witnesses verify deposit/withdrawal on both chains and submit confirmation to the gateway smart contract.
      Deposit/withdrawal will be marked complete when M/N witnesses confirm in the contract
      To become a witness, a certain amount of VITE and(or) VX should be staked. Witnesses can benefit from verification rewards. The misbehaved witness will be slashed.
      Mapped assets are issued/burned in contract on actual deposit/withdrawal requests.
      So this is the general design concept of the proposal
      Let's take a look at the deposit process now.

      viteshan at 3:45 PM
      staking is very important.

      Allen at 3:45 PM

      In this sequence diagram, we have 3 smart contracts deployed: two gateway contract deployed on Vite and Ethereum, and one token issuance contract on Vite.

      Step 1. A user requests for deposit address at the Vite gateway contract;
      2. the gateway contract bind the deposit address to Vite address and return it;
      3. The user deposits ETH to the deposit address on Ethereum;
      4. Witnesses start to verify the deposit on Ethereum;
      5. Witnesses submit confirmations to the Vite gateway contract;
      6. deposit is confirmed when M/N witnesses confirmed. The signatures must be verified in the contract;
      7. The contract mints the equivalent amount of ETH-000 and sends them to the user.
      So this is the deposit process in the new gateway

      Let's take a look at the withdrawal

      1. A user requests for withdrawal and sends ETH-000 to the Vite gateway contract;
      2. Witnesses start to verify withdrawal on Vite;
      3. Witnesses submit confirmations to the Ethereum gateway contract;
      4. Withdrawal is confirmed when M/N witnesses confirmed. The signatures must be verified in the contract;
      5. The contract sends ETH to the user;
      6. Witnesses confirm withdrawal complete (attach tx hash) in the Vite gateway contract;
      7. The user confirms withdrawal complete (or auto-confirm after a timeout period is passed);
      8. The contract burns the equivalent amount of ETH-000.
        That's all for withdrawal
        Guys, I've briefly introduced the concept design, processes of deposit/ withdrawal in the new gateway proposal.
        I am sure you must have questions
        I will leave about 20 mins for open discussion now
        I restate again: we are open to all proposals lol

      stone at 3:56 PM
      what about the existing gateway like VGATE and Bi23? will they automatically migrate to the new version gateway?

      weichaolee at 3:57 PM
      @stone They will migrate, but not automatically. The ViteX gateway 2.0 is a new framework, and it's open-sourced.
      VGATE and Bi23 should expand the framework by plugging in the coins they operate, designate the witnesses, then deploy the service on their gateway servers.

      stone at 3:59 PM
      @weichaolee is it compulsory or not for them to upgrade?
      And next question: if my witness node stops working, will I be slashed? and how does it happen?

      weichaolee at 4:00 PM
      VGATE and Bi23 will play an operator role in our new gateway ecology, and witness will be introduced as a separate role

      stone at 4:02 PM
      @weichaolee do you mean they need to build another thing (witness) besides the task of being an Operator?

      weichaolee at 4:04 PM
      @stone They can remain current centralized version gateway service, but strongly not suggested
      @stone Since the gateway smart contract needs to collect enough confirmations to proceed with a deposit/withdrawal request if your node stops working and causes the contract cannot receive the minimum confirmation. Anyone from the community can fill a dispute. The committee will judge according to the records on-chain. In this case, your staking deposit will be slashed.

      stone at 4:04 PM
      @weichaolee got it! You need to change if everyone is changing to adapt

      Crypto Bear at 3:59 PM
      how to run a witness node?

      viteshan at 4:02 PM
      @Crypto Bear This is a good question. Basically, as a way to guarantee the new gateway framework performs in order, at the beginning we would like to restrict the witness to a fixed number, and a committee led by Vite Foundation will vote to choose the first group of witnesses.
      A new witness is allowed to join only when someone quit. When the start-up period is over, anyone can apply to become a witness.
      Periodically, VX holders will vote for the next batch of witnesses in a smart contract. This is part of the on-chain governance of ViteX.
      However, the details are still to be outlined.

      Bob6768 at 4:01 PM
      Also regarding the Witness Node, will there be rewards to run it?

      Daniel Leedan at 4:01 PM
      Thanks for the detailed explanation, I'm glad to see that the team understand that change is needed to make Vitex truly decentralized. I think your proposal is good, it sounds interesting and doable. I'd like to hear what are the difficulties of your proposal.

      Allen at 4:08 PM
      @Daniel Leedan In the first stage of implementation, Vite Foundation is supposed to lead a committee for the selection of witnesses. The total number of the witness must be fixed and designated by the committee in a form of voting. I would call this as a cold start. When this phrase is over, the selection will be open to every VX holders in a smart contract. Anyone can run a witness node. So I think in the cold start stage we may have to tackle some governance issues.

      slimcan at 4:01 PM
      I'm sure we all have some thoughts about Ethereum gas prices. For withdrawal, when witnesses submit confirmation to Ethereum smart contract, how will the witnesses be paid or compensated for gas?

      viteshan at 4:10 PM
      @slimcan This gas cost needs to be paid by the node. there are rewards to run a witness node. In order to calculate the cost more easily, perhaps a gas station is an alternative solution.

      OKtamak at 4:05 PM
      Will there be a chance for the existing full node operators to become witness operators?

      Allen at 4:10 PM
      Of course. By staking a certain amount of VITE or VX you will get the chance but remember you also need to be selected to be one.
      At the early stage, we will assign a committee but later this process will be fully open to everyone voting in a smart contract
      @OKtamak

      Oleg at 4:09 PM
      I would also clarify: Why not atomic swap?

      viteshan at 4:11 PM
      @Oleg the atomic swap is more suitable for between two valuable tokens, such as ETH and VITE, rather than ETH and ETH-000.
      Both parties to the atomic swap have the right to choose to refuse the swap.
      But in this case, the gateway must provide the service of converting ETH-000 into ETH. The value of ETH-000 can be exchanged for ETH. So we did not choose the atomic swap.

      Allen at 4:14 PM
      Thanks @viteshan
      Hey guys. Thanks for coming to today's discussion. I scheduled for 1 hour but too many hot discussion lol
      I am going to close the discussion for now
      Thanks for attending this Vite Techie forum
      I am sure you may still have some questions. For anyone still has questions you can drop them here, and the Vite dev team will answer them later
      See you all in the next Vite Techie Forum event.

      posted in Vite Techie Forum
      Oleg
      Oleg
    • RE: Vite twitter presence?

      @pangolin MainNet was launched in 2019.

      posted in Community Collaborations
      Oleg
      Oleg
    • RE: Just published a Vite overview article, feedback?

      @pangolin Hi! Thanks for the article, but our MainNet was launched in 2019

      posted in About Vite
      Oleg
      Oleg
    • Vite Labs Leadership AMA (July 10, 2020) Review

      This is a review of the regular Vite Community AMA, which is held by the head team every 3-4 weeks.

      34242.png

      Richard Yan (Vite COO)
      Hi all!

      Richard Yan (Vite COO)
      Welcome to the AMA

      MD : Kawsar Chowdhury
      Question : what's the Vite best achievement success story in 2020 year ?

      Richard Yan (Vite COO)
      Based on community feedback and internal review, our main focus will be on ViteX. So this will include listing VX on exchanges and listing coins on ViteX

      Richard Yan (Vite COO)
      We will have a new coin listing on ViteX within a week or so

      Richard Yan (Vite COO)
      In terms of listing VX on exchanges, we are in talks with many big names (perhaps all the big ones you can think of outside the US) - it comes down to a matter of listing fees negotiation. I know this is the same update as before, but unfortunately these price discussions take a while

      Question from the forum:

      when the chainlink implementation will be done?
      when futures?
      will we see anytime soon an investment in a real marketing campaing done y real marketing professionals to attract more traders?
      the website is still old version, what happened?
      which of the ideas from community are going to be implemented?

      Richard Yan (Vite COO)
      Most of these questions are answered by our CEO's latest letter: https://medium.com/vitelabs/vite-roadmap-review-and-adjustments-e14592c15ae4

      Richard Yan (Vite COO)
      But let me give some quick bullet points here:

      Futures - this is not part of 2020 plan now, but afterwards. This involves serious design and liquidity ramp-up, which we are not prepared to handle at the moment.

      Real marketing - this comes back to coin listing, which frankly was slow on ViteX earlier this year. We are picking up the pace.

      Also - we are releasing the community coin-listing competition campaign within 24 hours

      We have created a small group of coin scouts within our team. They've been contributing excellent ideas for listing new coins

      According to our plan, the new website will be released within 30 days

      In terms of ideas to implement from the community - see the roadmap letter above. Many new additions to the roadmap are DEX-centric

      **Responce on the recent suggestions **

      Hi Richard, recently "Ultrapower - use 1801183244" offered us some ideas, I think they are worthy of your attention. Please review them carefully. Also to some of ideas I added my comments.

      -The current situation needs a correction, VX needs to be used for something else to attract people to buy it, if we simply list it on binance it will just pump and dump if not worse, we need to attract people to do something with it that is not only staking, something that attracts people to trade on ViteX

      The exchange like binance, kucoin, crypto.com and others are continuosly hammering the crypto scene with contests, new services, lending, futures and why? because their trading fees are less and less because of competition maybe or less people trading in general? i don’t know the truth but i know that when some business is marketing so much i smell fish, it means it is not going as foreseen, we have an exceptional product on vitex, you can do whatever you want with no KYC, move funds at the speed of light with no fees, we need applications, we need developers loving the lattice smart contract platform that Vite is and developing useful and good Dapps.

      DEFI is amazing, on ETH platform is expensive to make smart contracts transactions, we would suck a large slice of the market with our feeles, ligh-fast lattice system.The funds on DEFI on ethereum, where a 14 years old can steal everything in 5 minutes, reached almost 2 billions.

      I think the best idea to would be this: double or triple the daily dividends and then market it immediately to create a hype effect, we can even do it for a limited amount of time like: who has 1000 VX gets double dividends for a month or something like this.

      And added to that who has 10000 VX for example staked, get’s a card to use everywhere with a % cashback for every tx on shops, we could even do a partnership with some product brand or supermarket and give away vite or vx with some kind of products on the shelf, like, you buy coca-cola you get 10 vite with a code, you buy a computer you get 1000 vite

      Can we make ref codes free again ?

      Why don’t we create a program with points to get prizes like iphones, macbooks et cetera? when you trade a volume of 10.000.000$ you get a iphone. but what you people should try to understand, is the shininess of it, if you promise a ledger you attract a certain kind of people, if you promise a car you get serious traders, market movers

      You buy bids to do on very expensive items like macbooks iphones et cetera and for every bid the price goes up but with VITE super action auctions, the price goes down, the person buying get’s the iphone and some money and all the rest of people paid for it buying bids, it’s like a lottery

      Everyday extraction lottery for VX holders, more VX staked better the prize

      Hiring a real graphic designer and rebrand VITE in a way it does look not a project like the others.

      Richard Yan (Vite COO)

      Unfortunately the answer to the point about "using VX" is still to bootstrap liquidity. Coin listing and co-marketing activities as part of that are still the strategy.

      Admittedly we've been a bit slow in listing new coins at the earlier part of the year, but we're rectifying that now.

      A new listing is happening within a week or so, and the community coin listing competition will launch within 24 hours.

      Re: getting devs to make dapps, we will have grants available for dev proposals, as outlined in Charles' letter on roadmap adjustments. But I personally think there's more to do on the DEX side than non-speculation Dapps. The most successful and perhaps the only really useful dapps right now belong to the speculation category. So it's better to focus more on continuing to develop the ecosystem around our DEX. Now that is not to say we won't encourage 3rd party development of other dapps.

      We discussed DeFi in the latest ViFi survey response article.

      Regarding increasing VX rewards, I am not convinced this will increase true liquidity. But maybe we will look into increasing incentives for market-making as mining. Also, I think listing of new coins and co-marketing around that is the ultimate crwod-attracting campaign.

      Plastic cards involve significant logistics. This is more of a longer term project.

      About referral codes, we had plans to launch another round of activities to temporarily reimburse the fees for creating codes. Let me check how that campaign is going.

      Tangible prizes like iPhones is a good idea. We will consider this. To make shipping easier, maybe Apple discount card?

      Bitcoinman
      Why there is no effort at promoting Binance trading campaign? No marketing effort from Binance and Vite. No results or Volume increase from that campaign.

      Richard Yan (Vite COO
      Some of these questions are answered in the roadmap update letter Charles sent.

      More ViteX campaigns is a good idea. Co-marketing for coin listings should have similar effect.

      In terms of marketing - note we are having panel discussion with Binance and AMA with Chainlink, both happening within 1-2 weeks.

      In terms of getting a credit card - there are many logistical steps to sort out.

      We are talking to some vendors about fiat on-ramp though.

      So i got the following questions:

      Question from the forum
      Community members offered some good ideas in which replies were "passed to the team". Do the team really consider those suggestions ? Personally, i didn't saw any suggestion to be included in any release.
      We need more coins, more operators, more volume otherwise VITEX will have an unwanted faith - that of being closed because costs of keeping it up will be more than it will be afforded.

      Richard Yan (Vite COO)
      Of course some community suggestions have been incorporated. One example is the stablecoin zero fee conversion feature. This should be out in a few weeks (this requires making sure enough SBPs hard fork - hence a longer process - nature of developing decentralized systems).

      Another example is interface change to the wallet (using memo instead of comment to make sending to Binance easier, for instance).

      Yet another example is display of VX mining statistics to vitex.net dashboard.

      And someone suggested adding a ViteX listing google form, which we will add early next week.

      Not every suggestion can be incorporated, or incorporated in time. @Daniel_Leedan made many great suggestions (including some about making our github more friendly to developers) - I have asked our team to look into them. But there's also an internal priority of things to be done.

      Behind the scenes, we recently did significant refactoring of code to tackle tech debt, and also dealt with upgrading security of our gateway and web services.

      Unfortunately such efforts aren't as visible to the community.

      Question from the forum

      How to get ETH developers to come to Vite.

      Richard Yan (Vite COO)
      There are many public blockchains trying to do the same thing. I think a smarter strategy is to focus attention on DEX now, which has natural usage and indeed drawn significant interest. I made some other points about how to grow our DEX earlier

      Marl
      how many devs are working on the team currently ?

      Richard Yan (Vite COO)
      We have about 10 full-timers. On top of that, we have testers, designers, product managers. And in addition to these, we have interns and part-timers.

      Richard Yan (Vite COO)
      The coronovirus pandemic was a bit of a turning point. During that time, productivity took a hit, and we evaluated the team output accordingly. Then we made a decision to conserve capital by retaining the most effective developers.

      Marl
      and what's the total number of employees ?

      Richard Yan (Vite COO)
      The total number came down a bit because of the changes I mentioned earlier. But that said, we added many part timers and consultants not currently on our page. Some part timers have day jobs elsewhere and do not wish to appear in public. One example is our business development manager Morgan Jones in New York City. He has been instrumental in introducing Vite to the New York state assemblymember Ron Kim. He's interested in making a "Libra" for the City of New York and we've been talking maybe once a month.

      Other examples are service reps for ViteX who also do bizdev and coin scouting for the DEX.

      Daniel
      Hi Richard, I have 2 questions:

      1. At AMA about a month ago, you mentioned that 5 staff members are working on marketing.What kind marketing actions have been taken in the last 3 months? Can you give some examples without the usual tasks (Twitter, blog posts, etc.)?

      2. I did some research on Vite's activity on GitHub: on Vite team page there are 23 tech staff but only 5 of them are still active on GitHub, some of them stop their activity at the end of last year and some a few months ago. How many team members are currently working on the technical side of the project?

      My research:
      https://github.com/Daniel-Leedan/Vite

      Richard Yan (Vite COO)
      Note that the five-person team have marketing responsibilities, but they also deal with operations & community (managing Vite gateway, managing community managers, etc). I didn't say that team was fully dedicated to marketing. Sorry if there was miscommunication.

      That said, off the top of my head, here are some marketing activities:

      • Binance trading contest

      • Partnership with a variety of projects (the most prominent one being Chainlink)

      • Arrangement for upcoming Binance roundtable discussion (it takes time to get on the guest list)

      • Preparation for coin listing campaign (to be released in 24 hours)

      • Various AMAs with coins listed on ViteX and with other friendly projects

      I answered #2 earlier. To supplement, there are private repos that we are working on that outsiders won't see. A few examples:

      In Q4 roadmap, you will see that we're adding integration with trading strategy projects. This will allow others to deploy common trading strategies more easily on ViteX. The person working on this has a private repo.

      Also, I'm surprised you say there are only five active. Could you share a screenshot? I talk to our developer team regularly, and my job would be a lot simpler if there were only five active!

      Bitcoinman
      Why there is no effort at promoting Binance trading campaign? No marketing effort from Binance and Vite. No results or Volume increase from that campaign.

      Richard Yan (Vite COO)
      To be honest, the original understanding with Binance was that they would promote. But later that decision got reversed somehow. We think it's because the amount of rewards we committed was not high. We want to maintain a good relationship with the exchange, and didn't put pressure on this.

      The good news is that we're getting onto a Binance panel discussion, with more notorious personalities like Justin Sun present. So that would be both fun and good for business.

      Nick
      you are catching lots of attention from your podcast but the last time you tweeted about Vite was the Binance voting,more than 8 months. do you have any strategy to build Vite image as a founder with Twitter and your podcast?

      Richard Yan (Vite COO)
      You are right. Charles is the main tweeter when it comes to Vite content, and he has a bigger audience than mine. My twitter account hasn't even tweeted crypto content for some time. It's a place for personal and broad intellectual discourse.

      On the other hand, I try to promote via other means, such as AMAs, panel discussions, presentations at virtual events, etc. The biweekly report chronicles these items.

      Bitcoinman
      The in-house marketing is not effective, are you going to hire a seasoned PR to work at Vite?

      Richard Yan (Vite COO)
      We are making some personnel changes. So you should expect to see more active social media presence from our main accounts. We are supporting some great grassroot social media accounts (blogvite, vite&news) to market content for us.

      I'm trying to get a video AMA going, with projects listed on ViteX, for example. But we want to do something a bit different. For instance, maybe a female host to add a different perspective. In early stage of exploration, I have my mind set on someone, but still early. if you guys have good suggestions for candidate hosts, I'm all ears.

      Also, I still think coin listing is the marketing with the best ROI, which we will pick up pace for.

      Looperstar
      Is there any plan for non fungible tokens and trading them within vitex

      Richard Yan (Vite COO)
      I dont think we support NFT now

      Tôi mơ mộng
      I see now there are many vite-like ecosystems. Know they are late to us. but I see them go very fast. We need a new, effective, and quick initiative to implement it. If there were no new things, I thought it would be bad. Although I travel with vite, I feel that we are inefficiently slow

      Richard Yan (Vite COO)
      Frequency of ViteX coin listings. This will be a main metric with which to measure our future success.

      Bitcoinman

      1. What is your plan to get more dApp developers to Vite blockchain? Vite is feeless and the first Smart contract on DAG, you have advantages.
      2. TomoDex is new but they received many supports, have you checked this competitors? I don’t use their dex but I heard about because they do marketing viral, they have lending borrowing and sharing liquidity in the same protocol.

      Richard Yan (Vite COO)
      Dapp dev - we will have grants. But frankly I think this is not a main area of focus. The most popular dapps are speculation related - gambling, trading etc. We might as well focus on DEX, which has a natural use base.

      Not sure if TomoDEX has more activity than us, thanks for flagging it. A CM suggested doing an AMA with them soon.

      Tôi mơ mộng
      Why don't you make every piece have its place. Not necessarily stuffed into a wallet

      Richard Yan (Vite COO)
      One stop shop is better imo

      Daniel
      Github activity charts display private repositories as private, my research includes screenshot. There is no activity, even not private.

      Richard Yan (Vite COO)
      When I log into github, I see very different activities from the same dev than when I do not log into github

      Bitcoinman
      Why some github private some public? What’s the private project about takes 8 months private? Is it Vite products?

      Richard Yan (Vite COO)
      Trading strategy project integrations, for instance. I suppose we could make them public. But we normally don't go public until the code is past a certain stage of development

      said lee
      Me too bro they surprise me i since year i wait defi but unfortunately they don't care about that i already started lost trust in this project

      Richard Yan (Vite COO)
      Yes, with unlimited resource we would have been able to tackle this. In addition to the explanations in the ViFi article, here are a few more to consider:

      1. Security concerns. Every two weeks or so, a DeFi project gets attacked. bzx, dforce. It's dangerous waters. We can overcome such challenges, but when we see that the usage is not there per community survey, we pulled back.

      2. Lots of competition and difficulty to differentiate. Of course, one could say the same thing about DEX. But we're already in the DEX business, so why not focus on this bread and butter?

      I understand your disappointment. I would be lying to say I'm happy about this. With the Vite 2.0 decentralized gateway, we should be able to do decentralized cross-chain transfer of ETH. At that point, we will have a bridge to Ethereum and it may be better to tackle DeFi then, given the vast amount of assets we will be able to access. But I can't promise anything on that right now.

      Nguyên Bá
      Ankr partnership is great, when do you have the real partnership to do real thing like that again?

      Richard Yan (Vite COO)
      ViteX coin listings are truly useful partnerships between ViteX and those coins. Separately, we have coin-listing partnerships with other projects as well, where they get reimbursed for finding useful coins to list.

      MD : Kawsar Chowdhury
      What Problems Has ViteX Encountered In Providing Service Security To Its Massive Users? And How Did They Solve That?

      Richard Yan (Vite COO)
      The VIte Labs Gateway was audited by a reputable security firm. We have reconciliation daemons that regularly check for potential withdrawal problems in our gateways.

      Daniel
      Sorry for being late, it took me a while to prepare the table with the dates. You mentioned that some of the team are no longer part of the project, why are they still on Vite website? Is it a coincidence that by the end of last year most of the team had switched to "private" mode? (added pic is here https://t.me/vite_en/264022)

      Richard Yan (Vite COO)
      The website is due for a renewal. Our goal is to have the new website out in a month or so. In an earlier answer, I did allude to some attrition. But there are also some non-dev additions that aren't reflected on the website.

      Thanks a lot for your support. I do hear your concerns, and I appreciate your spending the time to express them here

      posted in AMA (Ask Me Anything)
      Oleg
      Oleg
    • RE: Vite Labs Leadership AMA (July 10, 2020) - Leave your questions here!

      Hi Richard, recently "Ultrapower - use 1801183244" offered us some ideas, I think they are worthy of your attention. Please review them carefully. Also to some of ideas I added my comments.

      -The current situation needs a correction, VX needs to be used for something else to attract people to buy it, if we simply list it on binance it will just pump and dump if not worse, we need to attract people to do something with it that is not only staking, something that attracts people to trade on ViteX

      • The exchange like binance, kucoin, crypto.com and others are continuosly hammering the crypto scene with contests, new services, lending, futures and why? because their trading fees are less and less because of competition maybe or less people trading in general? i don’t know the truth but i know that when some business is marketing so much i smell fish, it means it is not going as foreseen, we have an exceptional product on vitex, you can do whatever you want with no KYC, move funds at the speed of light with no fees, we need applications, we need developers loving the lattice smart contract platform that Vite is and developing useful and good Dapps.

      • DEFI is amazing, on ETH platform is expensive to make smart contracts transactions, we would suck a large slice of the market with our feeles, ligh-fast lattice system.The funds on DEFI on ethereum, where a 14 years old can steal everything in 5 minutes, reached almost 2 billions.

      • I think the best idea to would be this: double or triple the daily dividends and then market it immediately to create a hype effect, we can even do it for a limited amount of time like: who has 1000 VX gets double dividends for a month or something like this. - Note from Oleg, I would add such temporary campaigns for new users

      • And added to that who has 10000 VX for example staked, get’s a card to use everywhere with a % cashback for every tx on shops, we could even do a partnership with some product brand or supermarket and give away vite or vx with some kind of products on the shelf, like, you buy coca-cola you get 10 vite with a code, you buy a computer you get 1000 vite

      • Can we make ref codes free again ? - Note from Oleg, including the rule to do not post codes in our communities. It can brings us a new cunstomers

      • Why don’t we create a program with points to get prizes like iphones, macbooks et cetera? when you trade a volume of 10.000.000$ you get a iphone. but what you people should try to understand, is the shininess of it, if you promise a ledger you attract a certain kind of people, if you promise a car you get serious traders, market movers - Note from Oleg, I think in general this is a good idea, such prizes attract people, and the benefits can be much higher

      • You buy bids to do on very expensive items like macbooks iphones et cetera and for every bid the price goes up but with VITE super action auctions, the price goes down, the person buying get’s the iphone and some money and all the rest of people paid for it buying bids, it’s like a lottery

      • Everyday extraction lottery for VX holders, more VX staked better the prize

      • Hiring a real graphic designer and rebrand VITE in a way it does look not a project like the others.

      posted in AMA (Ask Me Anything)
      Oleg
      Oleg
    • Vite Labs Leadership AMA (Jun 10, 2020) Review

      This is a review of the regular Vite Community AMA, which is held by the head team every two 2-3 weeks.

      alt text

      Richard Yan (Vite COO)
      Hey guys - sorry, family emergency. But I’m back now

      Richard Yan (Vite COO)
      Let’s get started!
      Richard Yan (Vite COO), [11.06.20 01:12]
      Hey guys - sorry, family emergency. But I’m back now

      Richard Yan (Vite COO), [11.06.20 01:12]
      Let’s get started!

      Nikhil Mittal
      DeFi - Borrowing and Lending

      Hardware Wallet - Ledger

      ViteX in Mobile - Klines

      One-step DEX Deployment

      Vite HD Wallet - BTC Support

      Vite Web Wallet Upgrade

      Vite Desktop Wallet

      Dex Open Api

      Out of these developments, how many already completed?
      I found these on official website

      And any plans for staking vite on binance

      Richard Yan (Vite COO)
      Hi Nikhil, let me answer in order

      DeFi is the most tricky one. There are a few kinds to be worked out. First is if we have enough interest in lending VITE/VX for USDT, where will we source the borrowing interest? Lots of DeFi projects require some kind of self-funded cold start (I.e., team needs to supply the lending capital to begin with). This is a critical piece we have yet to figure out

      Second, again it’s the matter with security. We are seeing DeFi protocols getting hacked on monthly basis. Maybe it’s ok when the total assets locked is small. But this will inevitably change, and if our security is not in a good place by then, it would be too late.

      We plan to send out another DeFi form to the community soon, to figure out exactly what service we can provide, that has large user base, will allow the team to do effective cold-start, and for which we are confident about security from the get-go.

      Ledger - we already submitted everything from our side. Still awaiting their response. We will have to push them on this.

      K-lines is a feature we are adding and shouldn’t take long to complete.

      A big part of the one-step DEX deployment is gateway setup. We already refactored the code and allowed easy onboarding of ChainHedge as a new operator.

      BTC support is being worked on

      Web wallet upgrade has been happening step by step. Our biweekly progress report has been showing this

      Desktop wallet leverages features off our core wallet code

      Open API for DEX has already been released.

      Regarding Staking on exchnages. We’ve already reached out to both OKEx and Binance. But the process is moving slowly.

      Look out for new trading campaign with Binance though. We’re planning for it.

      said leee
      But I watch interviews with CEO kava he is talking about security defi he is say defi not risky.

      Richard Yan (Vite COO)
      I admire his confidence! Not sure if you saw what happened to tBTC - they closed up (temporarily) two days after initial release. And dforce was drained $30M, and only recovered after messy process of threatening the hacker who accidentally left behind some KYC info.

      Simo zeglaxy
      I want to ask you about partnerships, will there be strong partnerships with currencies and platforms such as Matic.

      Richard Yan (Vite COO)
      Yes working on that. There are many threads with different projects going on. I trust you saw the recent chainlink partnership?

      Richard Yan (Vite COO)
      Yes I see but richard That is cooperation, not real partnership, or I am wrong

      Simo zeglaxy
      If we offed derivative products on ViteX, will definitely need oracle. So Chainlink would come in handy.

      Makesushi

      what is your vision for Vite full adoption? how do we get there, how long does it take? also, what are people using Vite for when its at full adoption?

      what is the maximum transactions per second Vite chain can do? and how much of the bandwidth is Vitex currently using? is there going to be a bottleneck at some point?

      vitex trading volume has been stuck in a range of about 1 million a day for quite a long time, where do you envision the trading volume on vitex to be in 2 years? do you think it's feasible to get to 1 billion daily trade and what plans do you have to get vitex there?

      there was a mention that chainlink would be used to plug in external data feeds into vitex, what products will be traded with these data feeds, and how long until we see them on vitex?

      Richard Yan (Vite COO)
      Right now the strategy is to introduce Vite to the world via ViteX, as many of you have probably noticed.

      And when it comes to the ViteX bootstrapping strategy, it comes back to new coins -> new communities -> more trading.

      The TPS isn’t an issue for trading at this point. And our infra is sufficiently strong for much more activities.

      Makesushi
      I think vite needs some general awareness marketing, much like the ads that Dash did in the last bull run where they had the tag line "dash is cash", could be something like "vite is fast" since vite means fast in french and vite can be sent in less than 1 second.

      Richard Yan (Vite COO)
      Understood. We tried paid ads (Facebook for instance) and paid PR (articles in Forbes, Distributed mag) in the past though. ROI simply hasn’t been strong, as I mentioned in past AMAs.

      VishU
      Why delaying vx listing ? Listing vx will attract more investors to vitex

      Richard Yan (Vite COO)
      We are in serious talk with major exchanges. Trying to negotiate down the listing fee. Lots of exchanges aren’t doing so well now, and their demand for fees is higher than what we can accept.

      Nabeel B
      Hi Richard, when do you expect the trading campaing to launch?

      Richard Yan (Vite COO)
      Binance originally reached out to us about the trading contest. We sent back all necessary docs. Awaiting their next move.

      VishU
      Also team unlock tokens from July decided on which particular date ?

      Richard Yan (Vite COO)
      Only a small amount will get unlocked. We might do this slowly to reduce market impact.

      Simo zeglaxy
      My brother Richard, why is the kava coin so high in price and Vite? No, is there a defect in the strategy or what is the matter of what completes the difference? Is there a large number of Vite or what?

      Richard Yan (Vite COO)
      To my knowledge Kava is trying to be uniswap on Cosmos. So they’re in the Cosmos ecosystem. We’re totally different, as we are making something completely in parallel - full stack, from the chain all the way up to the DEX.

      So it’s hard to make an apples to apples comparison there.

      Also market cap is the thing to look at, not price. The diff in our market cap is much smaller than that in price

      said leee
      Richard why binance not post anything about last hard fork vite

      Richard Yan (Vite COO)
      That was an error on our side. Our team informed their business team too late (even though we told their tech team far in advance), so Binance didn’t have time to do a proper announcement. We thought the tech team would inform the business team. But that didn’t happen. We took note and will be sure to give advance notice next time.

      Questions from the Forum

      Q1:
      When compared with other blockchain technology solutions, what advantage does $VITE ? Who do you think the competitors for

      Richard Yan (Vite COO)
      We recently published a tweet on understanding Vite from ViteX. I think that answers 70% of the question. We are product-first, battle-tested and tech-driven

      Product-first - as in we build things people want. Dex being premier example.

      Battle-tested - our products (exchange, wallet) have been in use for a while with a strong user base

      Tech-driven - our fast and zero fee tech are supported by DAG/snapshot chain.

      Q2:
      What significant developments did VITE had during 2020? Any other important milestones left to achieve in 2019?

      Richard Yan (Vite COO)
      One thing we are looking to change a bit is to collect more community feedback in the days to come. And tune our products and plans according to such feedback. You may have already see this from our stablecoin survey.

      Makesushi

      not sure if this one was answered:
      there was a mention that chainlink would be used to plug in external data feeds into vitex, what products will be traded with these data feeds, and how long until we see them on vitex?

      you said something about derivatives to another guys answer but specifically what derivatives? will we see stocks?

      Richard Yan (Vite COO)
      For example, 2x VITE/BTC return type of products.

      Makesushi
      leveraged product

      Richard Yan (Vite COO)
      Correct. Now - I do want to caveat - this is if we make derivative products. Don’t want to over promise

      Simo zegalaxy
      We hope that a lot of Vite coin will be burned

      Richard Yan (Vite COO)

      They’re getting burned already. We may need to do a better job of informing everyone about it.

      Makesushi

      have you thought about making the app and web page simpler? removing the cross-chain features and instead of calling ETH-000 have it just called ETH to and make it seamless, like just deposit instead of having Cross-chain, the system in the back can always decern if your sending from vite wallet to vite wallet and not confuse users with cross chain or ETH-000, just simply have it called ETH

      ETH is just an example, applies to all of the cryptos on Vite/vitex

      Richard Yan (Vite COO)
      We are having heated internal debates about changing up the wallet. There are many places that can be improved.

      Your idea makes sense though, let me think about it a bit more

      Also Vite.org is getting a facelift. I think this was shared earlier with the community

      There are probably clever ways to represent wrapped ETH without making it sound so alien

      Simo zegalaxy
      We note that 18 million were burnt, but 30 million pumps, which means the pump is more

      Richard Yan (Vite COO)
      Overall we are still inflationary. But so is bitcoin, right?

      Simo zeglaxy
      Yes

      said leee
      Any news about project new work city you still works on it

      Richard Yan (Vite COO)
      Thanks for noticing this! Assembly member Ron Kim of New York State just got back to me saying he will get in touch after the virus situation dies down some more and after the election period is over. Sorry I keep giving the same news on this. Unfortunately we can’t control the process on the political side

      Simo zegalaxy
      Brother Richard, what are your future plans before the end of the year?

      Richard Yan (Vite COO)
      Stay tuned for some community surveys. We will look to get more community input in product releases and plans.

      Also we need to become more decentralized. More stakers, more HODL addresses.

      Daniel

      So few months ago when you post that Defi ready and will be launched in two weeks, what was the plan for the source of interest?

      Don't you think it's the first step for any Defi project? finding source of interest even before starting the development ?

      The reason for the delay been asked many times: you and your team always answered that the delay is because security reasons, you never mentioned anything about not having source of interest or it could have a problem.

      Richard Yan (Vite COO)
      The DeFi we discussed back then was a different idea. Back then, the idea was to let people borrow VITE to mine VX, at a rate pre-agreed upon by borrower/lender. The code for that was indeed ready, but later we realized this idea wasn't going to generate a whole lot of interest. I agree that the product development process was not well planned at the time.

      The DeFi we're discussing now is a bona fide borrow-and-lend system, sort of like Compound. The challenge now is finding interest for lending USDT at a reasonable rate.

      Richard Yan (Vite COO)
      Thanks all! Sorry for my being late

      See you next time

      posted in AMA (Ask Me Anything)
      Oleg
      Oleg
    • RE: Idea for a new dApp game?

      @Chikiryau Hi, there are quite a lot of gambling games in our app

      posted in Discussion
      Oleg
      Oleg
    • RE: Grin not confirmed

      @kyrothespacecat Please raise a ticket here https://vitex.zendesk.com/hc/en-001/requests/new

      posted in Questions
      Oleg
      Oleg
    • PegNet AMA Review

      alt text

      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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      posted in AMA (Ask Me Anything)
      Oleg
      Oleg
    • BANANO AMA Review

      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.

      alt text

      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 [email protected] “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 Story😄✌️
      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 [email protected] “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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      posted in AMA (Ask Me Anything)
      Oleg
      Oleg
    • Vite Plus Donation Platform: A Prototype to Track Donations for Fighting COVID-19

      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.

      f739aec0-fdeb-4681-be06-093cb8bb5dd7-изображение.png

      f36460bd-6267-45c7-8ac9-6a26d33d53af-изображение.png

      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.

      posted in Announcements
      Oleg
      Oleg
    • Пары TERA / BTC и TRB / BTC доступны для MM в качестве майнинга, 5х VX вознаграждения доступны для пар TERA / BTC и BTC / USDT

      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

      posted in Russian
      Oleg
      Oleg
    • 5X VX Rewards on BAN/ETH & EPIC/BTC MM orders

      alt text

      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
      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.

      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

      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

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

      posted in Announcement
      Oleg
      Oleg
    • Vite Bi-weekly Report Jan 16–31, 2020

      alt text

      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.

      alt text

      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.

      alt text

      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.

      alt text
      Richard speaking at SV BTC event

      alt text
      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.

      alt text

      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!

      alt text
      Bonita visiting Beijing office

      alt text
      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

      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

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

      posted in Bi-Weekly updates
      Oleg
      Oleg
    • Vite Bi-weekly Report Dec 16–31, 2019

      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

      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

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

      posted in Bi-Weekly updates
      Oleg
      Oleg
    • Vite Bi-weekly Report Dec 16–31, 2019

      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

      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

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

      posted in Bi-Weekly updates
      Oleg
      Oleg
    • Partnership: Vite Labs and Troy Trade

      alt text

      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

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

      posted in Announcements
      Oleg
      Oleg
    • Announcement: Upgrade of Full Node Reward

      alt text

      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.

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

      posted in Announcements
      Oleg
      Oleg