Help us (continue to) celebrate the launch of ViteX

Vite Editor
Aug 6 · 3 min read

To celebrate the official launch of ViteX, we will be launching a new competition from 9 AM August 7 to 4 PM August 20 (UTC +0)!

Over 200,000 VITE will be awarded for participants who compete in one or both of the activities below:

Deposit Contest

Total awards allocated: 100,000 VITE to be distributed in winnings.

How it works

  1. Deposit BTC, ETH, and USDT (ERC20) to your ViteX Exchange wallet.
  2. At the end of the contest, your total deposit amounts will be converted into USDT-equivalent values in order to calculate rankings.
  3. Earn rewards based on the USDT equivalent value you deposit during the contest. Specifically, prizes will be distributed proportional to each user’s net deposit amount**. Only accounts with a minimum net deposit amount of 200 USDT (or 200 USDT equivalent) will be considered for rewards.
  4. Rewards less than 0.1 VITE will not be considered.

**Note: Net deposit amount = deposit amount — withdrawal amount.

For example: if you deposit 50 ETH on August 13, then withdraw 20 ETH on Aug 19, your net deposit amount is 30 ETH.

Rules for reward calculation

The 100,000 VITE in rewards will be split into two “tiers” of rewards:

  • 60,000 VITE will be allocated to the top 10 accounts with the highest net deposit amounts (in BTC, ETH, and USDT). Rewards will be calculated based on the proportion of individual top 10 net deposit amounts to the total top 10 net deposit amounts.
  • 40,000 VITE will be allocated to accounts ranked below the top 10. Rewards will be calculated based on the proportion of individual net deposit amounts to the total net deposit amounts for all eligible accounts below the top 10.

Trading Contest

Total rewards allocated: 100,000 VITE to be distributed in winnings.

How it works

  • Trade on ViteX and earn rewards based on your trading volume.
  • Qualified trading pairs include: BTC/USDT, ETH/USDT, VITE/USDT, VITE/BTC, ETH/BTC, GRIN/BTC, GRIN/VITE, VITE/ETH, GRIN/VITE
  • At the end of the contest, your total trading volume will be converted into USDT-equivalent values in order to calculate rankings.
  • Only accounts with a minimum trading volume of 100 USDT (or 100 USDT equivalent) will be considered for rewards.

**Note: Trading volume = buy volume + sell volume. Buy and sell orders filled by the same account do not count.

Rules for reward calculation

  • 60,000 VITE will be allocated to the top 10 accounts with the highest trading volume (in BTC, ETH, and USDT). Rewards will be calculated based on the proportion of individual top 10 net deposit amounts to the total top 10 net deposit amounts
  • 40,000 VITE will be allocated to accounts ranked below the top 10. Rewards will be calculated based on the proportion of individual net deposit amounts to the total net deposit amounts for all eligible accounts below the top 10.

Note:

  1. The rankings list will be published at least 2 times during the contest. The final winner’s list will be announced within 5 working days after the event ends.
  2. Again, rewards of less than 0.1 VITE will not be awarded.
  3. ViteX reserves the right of final judgement. Any cheating or wash trading behaviors will result in disqualification.

Vite Labs

Official blog for Vite, a new-generation public blockchain

Vite Editor

Written by

Vite Labs

Vite Labs

Official blog for Vite, a new-generation public blockchain

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