Easy guide and community update
ViteX is a crypto exchange that enables traders to move assets and creators to launch projects and tokens. Here’s a quick guide.
Using ViteX
1- Connect ViteX using a Vite wallet.
2- Deposit Vite-based tokens into the exchange by sending them to a smart contract address. These tokens are then locked into the smart contract and can be used to trade on the exchange.
3- Place buy or sell orders on the order book. These orders are matched with other users’ orders in a decentralized manner, by smart contract. Once a match is found, tokens are transferred between the users’ wallets, completing the trade.
4- Stake and trade to earn rewards. Users can stake VITE tokens to participate in the platform’s governance, earning a share of exchange transaction fees.
Trading on ViteX
ViteX features ViteX Hummingbot which is an external bot that facilitates the process of trading by automatically placing orders on the order book, according to a set of predefined rules.
The exchange is completely decentralized, which means that it is not controlled by any central entity. All of the data and transactions are recorded on the Vite blockchain network, which ensures that ViteX is transparent, fair, and resistant to tampering and hacking.
ViteX employs a unique feature called “Snapshot Chain” which allows it to process trades faster and more efficiently by taking snapshots of the order book at regular intervals. By doing so, ViteX enables users to trade on the latest snapshot without having to wait for the latest blockchain confirmations.
Projects built on the Vite L1 have a native source of liquidity and ecosystem support through ViteX. The DEX provides a platform for token listing and community governance.
Disclaimer This is an educational article only.
Official: https://www.vite.org/
ViteX Community DEX : https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Russian: https://t.me/vite_russian
Arabic: https://t.me/vite_arabic
Spanish:https://t.me/VITE_Spain
Indian: https://t.me/VITE_India
Vite announcement: https://t.me/vite_ann
Korean Kakao Community: https://open.kakao.com/o/gWp9av5c
Reddit : https://www.reddit.com/r/vitelabs/
