Enabler of under-appreciated nerds and evangelist of under-rated ideas
Vite Labs is excited to know more about YOUR opinion on Vite’s recent development. We are looking for write-ups in our forum that contain profound perspectives in two areas:
Here are the guidelines to follow for this campaign!
Timeline: February 20 — March 20
Best of Luck!
How To Add Your Wallet Address:
1. Click on your profile icon at the upper right-hand corner of the Vite Forum page.
2. On the left of your profile page, there should be an option listed as “Bind VITE address”.
3. Make sure to copy the text designating your Vite wallet address, not your QR code.
4. Spread the word about this new campaign and emphasize the collaborative nature of the new Vite forum!
Have Your Friends Join All The Fun Here:
Official Address of Vite Forum: https://forum.vite.net/
Or scan this QR Code:
Download the Vite Wallet here:
[Rewards Policy] The TestNet Incentive Plan has been updated. The SBP reward of 30 million VITE tokens per year will be divided into two parts. 50% of rewards will be based on the number of blocks created, another 50% rewards will be based on the number of votes received. In addition to the top 25 SBPs, the following 75 candidate nodes may also receive rewards under this update. The Vite SBP Node Operation Guide has also been launched.
[How to apply] Please visit vite.org for more information. Five candidates have passed the preliminary review.
[Operation Guide] Please visit vite.org for more information about operating a SBP.
[Overseas Design Competition] The final result of ‘Vite Fans Design Competition’ will be announced on November 11th. The T-shirt designs of the first and fourth place will be available on Vite Store soon.
[iOS APP alpha testing] From November 8th to 15th, a hundred community members will be invited to the Vite iOS APP alpha testing. Meanwhile, a special reward of 5000VCP will be made for those who report any bug later verified by our engineers.
Thanks for your messages. I too share your frustration in various fronts, but allow me to offer some more context for our "performance":
On partnerships - It is unfortunately against our team's DNA to pursue meaningless collaborations, where projects "shake hands" with no real plans to work together. I don't need to name names, but there are many "prominent" projects that have gone down this path, where usage of Azure is considered "collaboration with Microsoft," and no substantive development happens after a sophisticated joint press release. I don't fault folks for being attracted to such tactics and projects that employ them, but as mentioned, our team simply isn't predisposed to such an approach.
As far as hackathons go, one of our friendly competitors spent millions of US Dollars rewarding developers to build dapps on top of their platform. They did get a large number of apps made, but retention was poor. And this effort ultimately did not translate into significant purchase of coins, or a boost in coin value, which for better or worse seems to be the ultimate metric for a project's standing these days.
We made a conscious effort to focus on the tech, and building a public chain is a truly arduous undertaking. This is why, as @nik12 correctly pointed out, that our technical development is by far among the fastest of all DAG networks. If making such trade-off of tech over marketing, and substance over fluff ultimately doesn't land us in a good place, then that is a consequence we are willing to accept.
As a refresher of our thinking on strategy - It has long become obvious to us, that the best product market fit in the crypto space is money-related business. Hence our focus on DEX (trading of value), multi-chain wallet (storage of value) and Vite Pay (exchange of value for goods & services). And soon, we will be tackling DeFi as well, to facilitate decentralized borrowing and lending in the Vite ecosystem.
There was some mention of enterprise adoption. We have successfully co-authored with the American city of Syracuse a whitepaper and began a pilot program ("SyraCoin") with them. In relation to this, we recently visited New York State Assembly Member Ron Kim in his office, where we discussed with him the possibility of implementing his signature legislation proposal of Inclusive Value Ledger on the Vite platform, with the product resembling SyraCoin.
I hope my thoughts above are somewhat helpful to you. Of course, they won't change the coin price. But maybe, as I wishfully speculate, they will make a small difference in your understanding of the coin's value.
I do agree that our teammates and leadership can be more available in interacting with the community. Probably better to have more frequent short-form communication than this multi-paragraph rambling that I just managed to produce. I have communicated this to our marketing team and we will try to do better.
If it helps, I have become more active on Twitter (https://twitter.com/gentso09) these days. You are always welcome to interact with me publicly or DM me there.
And lastly, as I announced on Twitter, I will be making a podcast focused on blockchain debates, to supplement the vast amount of existing audio content that's all too often one-way communication, where speakers don't get enough push-back and audience members could use another perspective. I hope to network with crypto OGs, get Vite on the radar of other industry VIPs, and learn a thing or two during those conversations myself.
We are launching a Bittrex campaign for VITE fans! You will be rewarded VITE native coins for buying VITE tokens on Bittrex and converting them into our TestNet (this is similar to, but different from, another conversion campaign). As you may know, the VITE native coins will become liquid for trading as soon as our DEX (ViteX) launches. More details on ViteX will be released on our forum shortly.
As of Jan 15, 2019, VITE ERC20 Tokens were listed on the premier exchange Bittrex! The exchange is well-known for rigorously screening coins for listing, and setting standards for integrity in trading volumes.
We will be having regularly scheduled AMAs via Telegram or YouTube. Please leave your questions in this thread!
Vite Labs is aware of the instability in block creation by SBPs in the last few days. Initial investigation shows that this is caused by anomalies in the transaction data syncing process between nodes. Our engineering team is conducting further analyses.
In relation to this matter, we would like to mention a few points:
First, restarting the SBP server may solve the problem (indeed this already has done so for some). If this doesn’t work, please state as such in a reply to this post.
Second, please pay attention to the notification section of the block explorer and the forum. Any necessary upgrade to solve the block creation problem will be announced in these channels.
On April 9, we will host a live AMA session on Telegram.
The time will be decided from our Twitter poll: https://twitter.com/vitelabs/status/1247237360900657152
If you cannot participate in that AMA, you may ask your questions in this forum thread. And we will answer them after the live AMA session.
Take care of yourselves!
Vite Labs Leadership AMA (Aug 13, 2020) - Post your questions here!
Time: Aug 13, 2020, 9am PDT (California time)
@hassan The question is how to get ETH developers to come to Vite. The answer is getting Dapp developers is a tough, tough business. 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, see transcript: https://forum.vite.net/topic/4024/vite-labs-leadership-ama-july-10-2020-review
In our latest roadmap update letter, we discussed offering grants to developer proposals: https://medium.com/vitelabs/vite-roadmap-review-and-adjustments-e14592c15ae4
ViteX listing of more coins - answered in the live AMA, see link for transcript: https://forum.vite.net/topic/4024/vite-labs-leadership-ama-july-10-2020-review
(Higher volume/more operators tend to come with more coins)
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 comment instead of memo 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.
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 crowd-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?
@atLL I discussed our ongoing efforts to list VX on major exchanges in the live AMA. Here is the live AMA transcript: https://forum.vite.net/topic/4024/vite-labs-leadership-ama-july-10-2020-review
@ultrapower 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 Co-founder & COO), [Jul 10, 2020 at 8:36:25 AM]:
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
Richard Yan (Vite Co-founder & COO), [Jul 10, 2020 at 8:37:49 AM]:
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
Vite Labs Leadership AMA (July 10, 2020) - Leave your questions here!
We recently published a tweet (https://twitter.com/vitelabs/status/1270561313391951872) on understanding Vite from ViteX:
ViteX is the world’s 1st DAG-based DEX w/ superb performance & CEX-like UX, where every trade earns dividend-paying tokens.
Vite is the lightning-fast, zero-fee blockchain that enables ViteX.
VITE is the coin you stake for higher TPS on Vite.
To better understand the work of Vite team: 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.
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.
VITE is the native coin for Vite protocol. VITE can be staked to get more TPS. Non-stakers can transact at a normal TPS, but stakers get a higher TPS quota.
This is part of our regularly scheduled AMA series. Please bring your questions to the AMA (https://t.me/vite_en), or leave your questions in this thread!
Follow-ups to various requests from the AMA:
We will be changing the "Comment" field to "Memo" in the Vite app. This will hopefully reduce confusion in sending VITE to Binance from the app.
The referral codes for "referral as mining" are meant for influencers, SBPs and other community members with abilities to refer other users. As such, the cost to acquire the referral code will be gradually offset by accruals in mined VX (remember, the remitted VITE will be burned, benefiting all VITE holders). And therefore we will not be reducing the cost to generate referral codes in the near term. We may consider launching a campaign to incentivize user invitation in the future, where we will partially or fully reimburse the cost of referral code generation.
The cost to become SVIP is originally intended for market-makers. After considerations, we believe the current cost is reasonable and will maintain the charge at this level.
The VX dev reward (10% of daily release) that the Vite team receives is being staked.