Vite AMA (Aug 31, 2022) Recap

4 min readSep 1, 2022

Here’s a recap on the key points our COO Richard Yan discussed during the most recent Vite AMA.

You can also check out the full video below:

ViteBridge

What do you think of the security of ViteBridge and the decentralized cross-chain future? All of the recent bridge hacks heightens the importance of cross-chain bridge security. We are currently reviewing all attack vectors within our system. This not only relates to our ViteBridge but also to our internal system. We hold the belief that a cross-chain future will happen despite the recent setbacks in this space.

When will ViteBridge go live? Due to multiple recent bridge hacks, we are being extra careful. These hacks have existential implications to the chains involved. Therefore, we are planning to add more bridges on the testnet. Our ViteBridge bug bounty is still available and can be found here. When we launch on Mainnet, we might need to require a limit for the total value that can be held by the bridge initially.

Vite App

Are there any major updates on Vite App? Changes to the Vite App will be incremental. We are making it to be a pure play Vite asset wallet. Right now, the Vite App also supports ETH and BNB. We will slowly eliminate those functions.

When will we have dark mode on the Vite App? I appreciate that a lot of users prefer dark mode as they only use the app at night. We have internal priorities in terms of the app’s development. However, I will have a discussion with our engineering team to assess the possibility of bumping up the priority of dark mode.

When will the Vite App have notification function? The notification function requires a centralized solution and we currently are not considering adding such a feature.

I like the Viterium wallet. Do you think it will compete with the Vite App? I think its adoption is accretive to the Vite ecosystem and it is a good thing.

Marketing

Any updates on the marketing front? We recently participated in Consensus 2022 in Austin, TX. I think the best way for our marketing efforts should be product driven. This means having more apps built on Vite. Apps like VITCSwap, Viva and Viterium are actively contributing to our ecosystem growth and bringing new users to our platform.

VINU

What if VINU’s market cap eclipses that of VITE? I think this compares to the aggregate value issued on Ethereum compared to ETH’s market cap. I bet that the former is larger than the latter. We think this is a good thing. Successful projects on a layer1 is always driving adoption of the base layer technology.

NFTs on Vite

What are Vite’s plan for NFTs? We recently have a new team member with deep knowledge in the NFT space. NFTs have brought onboard so many non-crypto native people to our sector. It is here to stay. We are now exploring multiple approaches to NFTs on Vite. We could do it native or non-native approach; monolithic or separate approach. This is under active discussion.

India

Any plans for India? VITE is traded on WazirX. We have an active India community. If you have concrete suggestions for us to be more present in the Indian market, please do reach out.

ViteX

The ViteX dividend pools are reduced. What is the future for VX? To gain more traction on ViteX, there are two ways we are exploring. Horizontal integration and Vertical integration. Horizontal integration means adding new features such as shorting, derivatives, trading bots, etc. In our most recent Uranus Mainnet upgrade, we are adding market order functionality. This will be at the backend first, we will add to the frontend shortly. We are currently incubating trading bots with more sophisticated functionalities. Vertical integration is more like Serum on Solana, which allows different trading platforms to share the same liquidity. We are exploring a ViteX Prime idea which is to make ViteX easier to fork allowing other apps to run on top. In addition, we are also trying to get more new coins listed.

Vite Network Upgrade

What is the Vite network upgrade? The reasons for any upgrade is because of adding new features. This time we are adding market orders and other functionalities. These features will be available for all users once we update the frontend as well.

Milestones

What are the milestones to hit for the rest of the year? Improving the Vite App, adding market order, getting more community builders to contribute, hosting hackathons, improving our documentation, and all in all making it easier to vuild.

Launchpad

Does Vite have its own launchpad program? Yes. We have a launchpad program. Please see details here.

Charles

What is Charles working on? Charles is focusing on Solidity++ development. This is related to making Vite EVM compatible.

Games

Any ideas on game development on Vite? Game development is extremely complicated and time consuming. We have some small games on the Vite App. Perhaps, it’s a good idea to move them out and have vuilders take the code and improve upon them.

The future

Where do you see Vite and ViteX in 5 years? We think multi-chain is the future. Vite and ViteX will continue to provide a differentiated experience — high performance and low fees.

Official: https://www.vite.org/

ViteX Official: https://vitex.net/

Twitter: https://twitter.com/vitelabs

Vite Forum: https://forum.vite.net

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