Vite Bi-weekly Report

Aug 16–31, 2020

Christy Li

Published in

Vite Labs

5 min readSep 4, 2020

Project Updates

Vite App

Released v3.7.5 for Android device and v3.7.7 for iOS.

New features and enhancements

Added “Transaction Status” to the ETH transfer page. Currently, three transaction statuses are supported: Unconfirmed, Pending, and Confirmed.
Support unconfirmed transactions on the ETH transaction details page.
Ethereum gas price estimation enhancement.

Vite App full-scale optimization started.

In the next couple of months, we will fully optimize the Vite App, including code refactoring, user experience upgrades, and comprehensive security testing. During this period, we will reduce unnecessary minor version updates to ensure the optimization is correctly conducted.

The Vite’s fifth hard fork

The fifth hard fork, named “Jupiter”, will be performed at 16:00 HKT on September 2nd. This hard fork contains a significant functional upgrade. After the hard fork, ViteX will support zero-fee conversion of stablecoins.

At present, the hard fork is complete successfully. We thank the Vite community for their awesome supports, especially the Vite SBPs and exchanges such as Binance and OKEx.

Scheduled height: 39694000

Estimated fork time: 14:00, September 2, 2020 (HKT)

Go-vite version: V2.10.0

GitHub link: https://github.com/vitelabs/go-vite/releases/tag/v2.10.0

Desktop wallet

New Vite desktop wallet version 1.4.1 was released.

New features and enhancements

Support zero-fee stablecoin conversion.
Improved UI style for multi-times liquidity mining.

Download link: https://github.com/vitelabs/vite-wallet/releases

Recent Milestones

ViteX Releasing Zero-fee, Mine-able, Decentralized Stablecoin Conversion

ViteX will soon debut its zero-fee stablecoin transfer service between four initial stablecoins USDT, USDC, DAI, and BUSD. This service is based on ViteX, the completely decentralized exchange protocol. The service not only secures users’ digital assets, but also requires no account registration or complex KYC process. In addition, to stimulate liquidity and reduce slippage, stablecoin transactions will come with liquidity mining (aka “market-making as mining,”) where limit order providers will earn VX.

Read here: https://medium.com/vitelabs/vitex-releasing-zero-fee-mine-able-decentralized-stablecoin-conversion-87a7190c1982

Vite Labs Forms Official Partnership with BANANO

On Aug 15, Vite Labs announced an official partnership with another DAG based project BANANO, where both projects will cooperate on exploring possibilities of DAG technologies and developing an open financial ecosystem. The two communities will engage in higher level of interactions through events such as hosting joint campaigns and distributing airdrops.

Read here:https://medium.com/vitelabs/vite-labs-x-banano-partnership-announcement-a17ef704695d

ViteX Exchange

Operator VGATE Listed SparkPoint（SRK）

On Aug 24, ViteX Operator VGATE listed SRK SparkPoint, and opened trading pair SRK/ETH.

SparkPoint aims to fast track mainstream adoption of blockchain and cryptocurrency. From mobile payments, remittances, exchanges, gaming, etc., SparkPoint believes innovations can reinvent digital payments and build a better future.

On Aug 27, ViteX enabled market-making as mining for trading pair HNS/USDT and participants can receive 3 times VX rewards for providing liquidity to HNS/USDT trading pair for one week.

VX Mining One Year Anniversary

VX mining will soon have its first anniversary on September 9, 2020. As of now, an accumulative of more than 10 million VX have been mined on ViteX, over 100 BTC have been distributed to VX holders as dividends, and the left-over amount to be distributed in the dividend pool exceeds 30 BTC. To thank our users for your continuous support and in celebration of the anniversary, ViteX will be holding mining-related annual events in the upcoming days, all welcome to participate.

Data on VITE and VX

As of August 31, 22,293,579.31 VITE have been burned through ViteX, accounting for 2.22% of total issuance.
116,437,303.78 VITE are staked on ViteX, accounting for 11.64% of total issuance.
10,691,550.89 VX have been mined, of which 9,610,710.87 VX (about 89.89%) are being staked for dividends.
To-date, 101.04 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 32.66 BTC.

Activities

On August 20, Vite CPO Blackey Hou held a live video AMA with the Chinese community, where he discussed Vite’s next major plans.

You may watch the replay here: https://m.yizhibo.com/l/VHxZ3Cn9hh_aHvEM.html?fro=weibo&from=singlemessage

COO Richard has planned a new episode of ”The Blockchain Debate Podcast“ where he invited managing partner of Dragonfly Capital, Haseeb Qureshi, as well as Chief Strategy Officer of the invest firm Coinshares, Meltem Demirors. The topic is, “Motion: Yield Farming is innovation.”

Yield farming is one of the hottest topics since second quarter of this year. This debate will touch upon the mechanism and sustainability of this new paradigm.
This show is a window to export Vite Labs’ thoughts on the industry. It is also a way for the Vite team to build relationships with other movers and shakers in the space.
All episodes are available here: https://blockdebate.buzzsprout.com
You are welcome to follow Richard and the podcast here: Twitter.com/gentso09 / Twitter.com/blockdebate

Vite Labs has restarted the coin listing recommendation campaign and we welcome your participation. The community member that recommends a coin that gets listed will receive 1000 VITE. Please enter the contest here: https://twitter.com/ViteXExchange/status/1299295768142966784

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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