Vite Bi-weekly Report

Feb 16-28, 2021

ViteBizDevComms

Published in

Vite Labs

4 min readMar 3, 2021

Project Updates

Full Node Rewards Program Upgrade

To incentivize full node operators and build the strength of our network, Vite will upgrade our current Full Node Rewards Program. In this new program, there will no longer be a fixed amount or cap for total daily rewards. The more full nodes in our network, the more rewards issued. All necessary development aspects are complete, and we are currently waiting to switch to the new full-node staking contract.

Binance Smart Chain (BSC) Integration

We are currently integrating BSC into ViteX. Our development status is at 30% with integration upgrades for the Vite App and Web Wallet. Once integration is complete, ViteX will list the top projects from BSC’s ecosystem. In the meantime, BEP-20 USDT will be added onto ViteX which will dramatically reduce USDT withdrawal fees.

Key Activities

Vite Lists NAMI to ViteX

On February 25th, Vite listed NAMI token on our decentralized exchange, ViteX. Nami Corp. is a global fintech company working on blockchain-based investments and technology. To learn more about this listing, check out the release from Nami’s website: https://nami.io/en/tutorial/nami-token-is-officially-listed-on-the-vitex-exchange/.

February Vite Community AMA

On February 26th, Vite held a Community AMA (Ask Me Anything) live stream on YouTube, our first AMA of 2021. The event featured Vite COO Richard Yan, Director of Engineering Allen Liu, and was moderated by Vite’s newest team member helping coordinate our business development and communications activities, Morgan Jones. During the hour-long event, all three participants answered questions from our Vite Forum, Twitter, Reddit and the live chat from our YouTube channel.

As you can see, we had a lot of fun connecting with our community and answering your questions! To catch a replay of the AMA, check out the following link from our Vite Labs YouTube Channel, and make sure you like and subscribe for more updates: https://youtu.be/AmdlMkhuIt8

Community Contributions and Shoutouts

In mid-February, several members of our community developed a Vite fan chat on Telegram called ViteXNation — an unofficial Vite group for our community, by our community. The goal of the group is to boost fan awareness and support for the Vite’s decentralized exchange. The chat is managed and administrated completely by our community and we are excited to hear about all the great discussions surrounding blockchain, crypto, and the future of Vite on this platform. To join the channel, please check out this link: https://t.me/ViteXNation

We also want to give a big shoutout to Anton Anufriev for developing ViteX API. ViteX API enables users to complete trading operations on ViteX’s decentralized exchange without exposing private keys. It’s because of developers like Anton that Vite can remain on the cutting edge of crypto. Thank you, Anton! If you would like to check out our developer documentation so you can create programs from the Vite ecosystem, click here: https://vite.org/development.

Industry Exchanges

The Blockchain Debate Podcast

Vite COO Richard Yan released a new episode of “The Blockchain Debate Podcast” on the topic: “NFTs Are A Fad.” Non-Fungible Tokens (NFTs) have lately become the crypto world’s newest market darlings. Business celebrities such as Mark Cuban and Gary Vee have become advocates for this asset class, but there are skeptics abound. The main criticism is that these digital goods are not inherently unique nor scarce, as is purported by their promoters and is considered the top reason for their lofty valuation.

The guests for this episode are London School of Economics Professor Edmund Schuster and NFT Investment Fund Partner Andrew Steinwold.

The Blockchain Debate Podcast is a channel for Vite Labs to connect and brainstorm with key thought leaders in the industry. Check out all the episodes here: The Blockchain Debate Podcast.

You can also follow Richard on Twitter: @gentso09.

Also, don’t forget to also follow The Blockchain Debate Podcast on Twitter: @blockdebate.