Vite Labs
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Vite Labs

March 2021 — A Letter from Vite CEO, Charles Liu

Some To-do’s for Vite 2.0

Dear Vite Community:

I hope you are having a fruitful Winter as we transition to a new Spring. As a follow-up to my previous letter about the cross-chain vision of Vite 2.0 (here’s the ViteBridge White Paper), I am writing to share with you some initial steps we will take to attain that vision.

The goals for Vite 2.0 can be reduced to this: We plan to eliminate the boundaries between Vite and other ecosystems. Vite will actively embrace other blockchains with open arms. That is, we will actively join other ecosystems, and also welcome other ecosystems into Vite.

So how do we get there? Here are four to-do’s. Some are a bit more long-term than others. The fourth one is the lowest-hanging fruit, and I go into a bit more details for that one.

First, per details outlined in the whitepaper, and as the core service of ViteBridge, we will begin building connections between Bitcoin, Ethereum, and other blockchains such as Polkadot, BSC, HECO, OKChain, and, of course, Vite.

Second, we will diligently improve Vite’s compatibility with other blockchain tech stack, particularly Ethereum, to make Vite more developer-friendly. In the future, Vite will maximize compatibility with tools already familiar to blockchain developers such as Solidity, Web3, Truffle, and Remix.

Third, we will support more blockchains through Vite’s product suite and list high-quality projects in the public chain on our ViteX Decentralized Exchange.

Fourth — again this is a low-hanging fruit and worthy of elaboration. VITE and VX will no longer be assets exclusive to Vite chain. We will look to issue wrapped tokens on Ethereum, BSC, HECO, OKChain, Polkadot, Solana, and so on.

With wrapped tokens in place, users will be able to swap VITE and VX assets between any two supported chains on Vite App. Initially, we will allow this swap through the Vite Gateway; once ViteBridge is fully launched, the swap can be done in a completely decentralized manner.

Please note that, as wrapped assets get issued on other chains, no new supply is being minted. That means there will be zero change to the total circulation or economic models of VITE or VX.

Cross-chain issuance will drastically improve the liquidity and exposure of VITE and VX. Users can interact with Vite assets on their chosen blockchain and DeFi products. Here are examples of such interactions:

  • Liquidity-mining through VITE/USDT on Uniswap.
  • Staking VITE BEP-20 in Venus to earn interest.
  • Choosing any wallet such as MetaMask, Ledger, or ImToken to hold VITE coins.
  • Trading ERC-20 or BEP-20 VITE through any centralized exchange.
  • Of course, swapping back to Vite-native assets on Vite App

There you go — the four to-do’s toward our vision. I look forward to hearing your feedback on these plans. I hope you are as excited as I am.

Best regards,

Charles Liu

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