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Author Topic: [ANN][100% Mineable][No ICO][No Pre-mine]VX Coin - The native token of ViteX DEX  (Read 762 times)
ViteLabs
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July 27, 2019, 07:38:30 PM
Last edit: August 15, 2019, 11:42:51 PM by ViteLabs
Merited by eli_lyd1 (10)
 #1



VX: 100% Mineable, No ICO or Pre-Mine


Summary

VX is the native token of ViteX (a DAG-based decentralized exchange).
Users who hold VX enjoy dividends of transaction fees and listing fees collected by ViteX.
VX has no public sale nor private sale. Users only get VX through mining.

ViteX was launched on July 30, 2019!
Trade on ViteX: https://x.vite.net/

**VX mining will be available towards the end of August 2019**
Exact date TBA.


How to Mine VX

Trading is Mining

Whenever users execute a trade (i.e. take an order off the order book), they are rewarded with VX.
The amount of VX users receive is calculated based on the amount of trading fees they paid proportional
to the total amount of trading fees collected by ViteX on that day.


Staking is Mining

The Vite public chain requires quota to properly allocate is computing resources. Quota is obtained by staking VITE.
Whenever users stake VITE to help ViteX obtain the quota it requires to run, they receive VX. The amount of VX
is calculated based on the proportion of the amount of VITE staked by the user to the total amount of VITE staked that day.


Market-Making is Mining

Place orders to boost liquidity on ViteX and get rewarded with VX. The amount of VX depends on two factors:
1) the amount of time your order remains on the order book
2) the amount of deviation from the best bid and ask price in the order book spread.
The longer your order remains in the order book, the more VX you receive.
The less your order deviates from the best bid/offer, the more VX you receive.


Listing is Mining

List new trading pairs to mine VX. A user (“token issuer” or “operator”) that lists a new trading pair receives VX.
The token issuer’s reward is calculated as if he/she executed a trade involving a transaction fee of 1,000 VITE.
Note: For listing as mining, there is a cost of 10,000 VITE for each new token issued on the Vite chain.
50% of this fee (5,000 VITE) will be burned and the remainder will be added to the shared VX dividend pool.


Referring is Mining

Users can apply for referral codes to invite their friends to become traders on ViteX.
You can apply for a code by completing this form here. Referrals benefit both the inviter and the invitee.
For example, Alice sends Bob a referral code. When Bob signs up and starts trading on ViteX, he gets 10% off of all trading fees
(Base Transaction Fee + any applicable Zone Fees) on ViteX. Alice, on the other hand, benefits from Bob’s trading activity as
5% of Bob’s accumulated trading fees count for Alice’s accumulated trading fees.

For example, if Bob accrues $100 in trading fees and Alice accrues $200, Alice will effectively have $205
in accumulated trading fees (thus boosting the ratio of her trading fees to the total collected fees).

Benefits for VX Holders

In short: fees collected by the ViteX platform get distributed to VX holders

How dividends work

VX holders will receive dividends from a shared dividend pool, which is funded by the transaction and listing fees
collected by the ViteX platform. Dividends are slowly distributed at a daily rate of 1% so that VX holders will not only benefit
from a steady stream of transaction fees, but also, an ever-increasing shared pool.

Note: A minimum of 10 VX is required to receive dividends. By holding more than 10 VX, one may continuously
obtain dividends of daily trading and listing activities. Although VX is only earned through mining, VX will be tradeable on ViteX.


VX Reward Allocation





Trading, Referring, and Listing

60% of VX released daily will be distributed to traders who mine within this category.
There are currently four markets: BTC, ETH, VITE, and USDT.
Each market will account for 15% of the daily VX distribution.


Staking

20% of VX released daily will be distributed to users who mine within this category.


Market-Making

10% of VX released daily will be distributed to traders who create orders.

VX Distribution Schedule


The total supply of VX will be 100,000,000 with no inflation.
After the launch of ViteX, the total supply of VX will be fully distributed within two years.





During the first year, the number of VX released will decrease by 0.5% every day.
477,032 VX will be released on day 1. According to this formula, 80.13% of the total supply will be released in the first year.


During the second year, the number of VX released will decrease by 0.2% every day.
37,051 VX will be released on the last day of the second year.


Important Links

ViteX official website: https://vitex.net/
Trade on ViteX: https://x.vite.net/
Referral code application form: https://forms.gle/Bps8oR3q1FyEZG2FA


▐ ████|    ViteX   |   https://vitex.net/    |████ ▌
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July 28, 2019, 04:45:23 PM
 #2

ViteX 101: Update. Everything you need to know about ViteX and VX!

https://forum.vite.net/topic/2212/vitex-101-update-everything-you-need-to-know-about-vitex-and-vx

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July 28, 2019, 04:46:47 PM
 #3

When will the VX start mining?

ViteLabs
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July 29, 2019, 05:06:54 AM
 #4

When will the VX start mining?

VX Mining begins at the end of August. The specific date will be announced soon, kindly stay tuned.

▐ ████|    ViteX   |   https://vitex.net/    |████ ▌
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super bako
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July 30, 2019, 01:03:38 PM
 #5

When will the VX start mining?

VX Mining begins at the end of August. The specific date will be announced soon, kindly stay tuned.
good projecta friend, vite is already on the market that is very good like hotbit, cucoin, bitrex the price is also very fantastic, i think this will be successful and many support your projects sir...

mandown
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July 30, 2019, 01:25:22 PM
 #6

i cant see algo

what is algo?
roxroxy
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August 02, 2019, 05:49:35 AM
 #7

When will the VX start mining?

VX Mining begins at the end of August. The specific date will be announced soon, kindly stay tuned.

OK, Thank you. Will ViteX list more coins in the future?

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August 02, 2019, 06:22:59 AM
 #8

I remember there are many exchanges launched their "Trading Mining Coins" projects last year

the first one is Fcoin, but seems it's failed, the price of the coin is almost dumped to 0 cos the exchange has no enough money to share to those coin holders (miners) cos the scheme~
and the followers all failed since the scheme design is illogical.

Don't know if there any difference with Fcoin,

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August 02, 2019, 06:33:28 AM
 #9

I remember there are many exchanges launched their "Trading Mining Coins" projects last year

the first one is Fcoin, but seems it's failed, the price of the coin is almost dumped to 0 cos the exchange has no enough money to share to those coin holders (miners) cos the scheme~
and the followers all failed since the scheme design is illogical.

Don't know if there any difference with Fcoin,

Yes, in the beginning, every company seems to be very energetic but once when it comes to reality the promised dividends will be eliminated which they cannot share to the people who are holding. One thing is fair better because we shouldn't invest anything here.

cooltoadfrommoon
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August 06, 2019, 09:13:12 AM
 #10

So, what I observed that is, Vitex is actually a decentralized Exchange with his own token name VX.
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August 06, 2019, 02:39:46 PM
 #11

What will be the total supply of VX token? How will they distributed?
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August 06, 2019, 02:45:11 PM
 #12

60% of the prize will be allocated for trading, raffering and listing as mining.  This will be very interesting, because this will make the traders race to get this big prize.

BITWINGS - Guaranteed worth $0.20
Minephone - First smartphone that produces up to 2 ETH/month (http://minephone.bitwings.org)
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August 06, 2019, 04:46:42 PM
 #13

What will be the total supply of VX token? How will they distributed?

Total Supply is :  100,000,000 VX Token

They will distributed these token in 2 year's. 
cooltoadfrommoon
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August 07, 2019, 10:32:21 AM
 #14

Vitex has started a new contest named "Vitex Deposit & Trading Contest" 

The Prize money is 200,000 VITE  Grin

Read more about this here: https://medium.com/vitelabs/new-campaign-alert-vitex-deposit-trading-contest-42779fa92f4
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August 07, 2019, 02:07:53 PM
 #15

Is there any app available for using ViteX exchange?

cooltoadfrommoon
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August 07, 2019, 04:29:29 PM
 #16

Is there any app available for using ViteX exchange?

Yes, App for IOS is already available, for Android would be available soon.   
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August 07, 2019, 05:45:29 PM
 #17

Hay dev, I have experience participating in trading contests, coins will not be mentioned, first I have several coins after participating in the prize campaign, and this project is holding a trading contest, I started depositing with ETH to buy coins with the intention to have more coins,  but apparently after the competition ended, the coins dropped dramatically, I tried to hold the coins but who knows how long the coins will go up again, I ended up selling coins cheaply.
  My question: will vite coins drop dramatically after the trading contest ends?

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August 08, 2019, 12:24:21 AM
 #18

Is there any app available for using ViteX exchange?

Do you mean the mobile app for trading on exchange? There is only web exchange and mobile wallet for now. But hope they will make mobile app too soon.

How can I mine VX? Through a mobile wallet to enable stacking or it will have to be done through the exchange?

Mining VX still not abailable. I think it should be done through staking on exchange. Here is some description about VX

https://medium.com/vitelabs/vitex-101-decentralized-exchange-e03bec051956

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ViteX
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|    Bitcointalk   |   DEX   |   Website   |   Vite Wallet   |   Vite Forum   |   Discord    |

 
 
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August 08, 2019, 03:55:08 PM
Last edit: August 12, 2019, 10:35:44 AM by tex173
 #19

Can I earn VX coin free?  
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August 08, 2019, 04:34:19 PM
Last edit: August 12, 2019, 10:29:38 AM by NITER2018
 #20

Can I earn VX token free?  

No, but referring a friend may give you some VX otherwise you can earn free Vite token by joining bounty here  https://bitcointalk.org/index.php?topic=5170304
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