Vite Ecosystem Incentive Plan. In order to motivate and incentivize…
By: Khun Sir
Tags: Announcements, Cryptocurrency, Blockchain, Vite

In order to motivate and incentivize participation of both existing and new capable teams and developers from our community to build together the Vite ecosystem, Vite Labs will be releasing gradually a series of ecosystem incentive plans. The first of the series is designed to support the operation of supernodes by voting to selected SBPs with Vite eco-funds, all voting proceeds will accrue to SBPs.

Plan Details

Objectives

To reward individuals or parties (must be running a SBP) that have made remarkable contributions to the Vite ecosystem (including ViteX).

Reward Method

Selected SBPs will receive votes from Vite Foundation and receive corresponding voting and block-producing rewards.

How to Apply

Submit the below information to isdachen@vite.org

Applicant name and contact information

Reason for Application: Ex, Dapp development; ViteX operator (Must with cross-chain listing)

Ex, Dapp development; ViteX operator (Must with cross-chain listing) SBP info

Supporting Materials: Ex, Dapp description; operator KYC; information on listed cross-chain assets; links to trading pairs

Incentive Mechanism

Number of Votes

Considering the essential functions of supernodes, incentive votes for each SBP will be limited to certain amounts.

Dapps

Dapps are split into non-profit applications and commercial projects. Due to the reason that non-profit apps cannot generate incomes, the incentives for non-profit apps are therefore higher than for commercial apps.

Explorer: A fixed number of votes for every voting period; the number of votes depends on the level of completeness of exploited features and functions; app must available in English. Vite Wallet: A fixed number of votes for every voting period; the number of votes depends on the practicability of exploited features and functions; app must available in English. Smart contract based Dapps: The number of votes varies per circumstance; app must available in English. Other Dapps: A fixed number of votes for every voting period; the number of votes varies per circumstance; app must available in English (Foundation reserves the right to interpret).

ViteX Operator

Basic rewards: 1 million votes will be given to operators that have completed KYC and are maintaining operation of the gateway. Additional rewards: To qualified operators, Vite Foundation currently will cast 100,000 votes to each additional valid cross-chain asset listed, 5 million votes maximum.A cross-chain asset is considered valid when it is displayed on a major cryptocurrency website (for example, CMC and CoinGecko). A minimum of 2 listed cross-chain assets is required to apply for additional rewards (regardless of current trading volume and depth).

Current Rewarding SBPs

Vite Foundation has selected the following contributors to receive our initial staking support, which will be put into practice on April 3.

1. ViteScan.io (Dapp/Block Explorer Developer)

Funded staking: 2 Million

Block explorer: https://vitescan.io/

2. Vgate (ViteX Operator)

Funded staking: 3 Million

View profile: https://vitex.net/operatorDetail/vite_13086aa0dae5bad9deaec141885f91487d1559052a76b7cb3c

3. Bi23 (ViteX Operator)

Funded staking: 1 Million

View profile: https://vitex.net/operatorDetail/vite_72ae6f9185c7de077106fbe6dd3ee31465882146d70732dc19

4. XS_Fund (ViteX Operator)

Funded staking: 1 Million

View profile:

https://vitex.net/operatorDetail/vite_79d7b54aa59c7210ccab1035f690573b069ebcab25dd5510e8

Disclaimer

Vite Foundation will adjust and limit accordingly methods and amounts of foundation votes to ensure that the Foundation is not manipulative of SBP rankings.

The action is intended to promote the development of the Vite ecosystem, it is not at our intention to harm the rights and interests of any third-party entities, Vite Foundation will hold no responsibility to such possibilities (for example, changes in ranking of SBPs).

Vite Foundation reserves the right of final interpretation of the rules, please contact Vite Foundation official at isdachen@vite.org if you have any questions.