ViteX Launching One-Year Anniversary Dual Campaign!
By: Christy Li
Tags: Announcements

ViteX, our decentralized exchange, went live on July 30, 2019. It is a truly decentralized exchange with on-chain matching engine/trade settlement and dividend sharing via its platform coin, all implemented as smart contracts on the Vite public chain. And it solves the problem of non-transparency of both trading data and operations characteristic of centralized exchanges. Within a month of going live, mining was turned on. Users are able to mine VX via trading, making orders, staking, inviting other users, and listing coins. And VX owners are entitled to 100% of listing fees and trading fees from ViteX.

At Sep 9, 2020, mining on ViteX has reached its one-year anniversary. Total amount of mining exceeds 10 million VX, and users have received proceeds of 96 BTC, or roughly 1 Million USD.

As a thank-you for our users, and in celebration of the anniversary, ViteX is holding two mining-related campaigns.

Campaign 1: Mining reward 10x multiplier

During the campaign period (7 days), users will receive 10x the regular reward for market-making-as-mining (aka liquidity mining) on certain trading pairs. Rewards will be distributed the same way as the current method.

Applicable trading pairs：VX/BTC, VX/VITE, VX/ETH, VX/USDT

Campaign period: 7 days —

Sep 9, 2020 12:00-Sep 16, 2020 12:00 (UTC+8)

How does one participate in market-making-as-mining?

https://forum.vite.net/topic/3569/how-to-mine-on-vitex-advanced

Campaign 2: Free Referral as Mining

Users may obtain ViteX QR codes for free. Users that sign on via these QR codes will receive permanent benefits in mining.

Campaign period: 30 days —

Sep 9, 2020 12:00-Oct 9, 2020 12:00 (UTC+8)

How does it work?

During the campaign, the Vite team will reimburse selected individuals the 1,000 VITE payment used to generate a referral code.

By inviting a friend with a referral code, you will be rewarded, for unlimited time, 5% of your friend’s trading as mining proceeds and 2.5% of your friend’s market-making as mining proceeds.

What are the rules?

1,000 VITE each will be sent to the top 50 users with the most number of valid referrals. Note, to qualify, users must make at least five valid referrals (defined below), and must also retweet the campaign rules tweet and tag at least three contacts on twitter.

A referral is valid when the invited friend has trading volume greater than 0.05 BTC on trading mining-eligible trading pairs (Trading volume at other base markets must be equivalent to 0.05BTC, rates fixed at 4 am UTC Sep 9).

Only new referrals invited during the event will be counted.

Users may create the referral code any time during the campaign. Partakers of previous similar campaigns can also participate.

The user with the most like’s in his or her retweet of the campaign post will also receive a Vite t-shirt as souvenir.

Terms and Conditions:

Only volume of trading Trading as Mining eligible trading pairs will be calculated.

Trading volume counts both buys and sells, excluding any wash trades.

ViteX reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, self-dealing or display attributes of market manipulation.

Rewards will be distributed within 2 weeks after the campaign ends.

What is VX?

ViteX Coin, VX, is the coin native to the ViteX platform. It is mined exclusively by the ViteX community and is used to allocate rewards back to the community.

What can I do with VX?

You can ​trade ​it on ViteX with the following trading pairs: VX/BTC, VX/ETH, VX/USDT, and VX/VITE Even better, you can ​hodl ​it to receive daily dividends in BTC, ETH, USDT. Trading fees collected by the ViteX platform are put into a shared dividend pool that is distributed ​back​ to traders at a daily rate of 1%. All accounts staking at least 10 VX in the exchange are eligible to receive dividends.

How do I mine VX?

https://vitex.net/mine

Learn More

https://vitex.zendesk.com/hc/en-001/categories/360002942294-Guides-Tutorials