To increase user participation and the degree of decentralization on the ViteX exchange, we are rolling out a brand new ViteX Gateway Incentive Plan. The purpose of this plan is to incentivize the creation and sound maintenance of more gateways on ViteX. As such, we have designed a fair and robust mechanism to reward good practice and discourage bad practice.
What Makes a Good Gateway Operator
- Frequency of listing coins and integration with new chains
- Swiftness in fulfilling deposits and withdraws
- Timely response to customer requests
Incentive Mechanism
The gateway operator will have an SBP attached, with zero additional votes to begin with. The Vite ecosystem fund will vote for the SBP for every milestone attained, see details below.
According to this plan, if a new gateway operator integrates with one chain and adds five tokens on that chain, then they will get 3M votes total (1M staking + 2M vote rewards), and this gets them to a top-25 spot on the SBP ranking list. Please refer to this article for the expected annual block rewards as an SBP.
Punishment Mechanism
Generally, there will be consequences including but not limited to revoking the SBP if the gateway does not adhere to its published roadmap.
Disclosure Requirements
The participating operators will be required to publicize the following information:
- Projected frequency of integration with new chains / new coins
- The next two new chains and the next two new coins to integrate
Plans can understandably change. But publicized plans are still important.
How to Apply?
Please go to our Discord server and express your interest in the dao-talk channel.
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