As the release date of ViteX Alpha version approaches, we asked the community to vote on the handling of the transaction fees. After hearing from over 100 voices within the community, ViteX will adjust the rules according to the voting result.
We have also received a proposal from Vite community regarding how to deal with the ViteX shared pool. After extensive internal discussions, our team has decided to publish the content of the proposal and let community vote for which one it prefers.
Explanations of Shared Pool Rules
In the previous economic model, the transaction and listing fees that were collected during one day will be distributed immediately to VX holders the following day. Following this model, there will be a sharp decline in the amount of shares per VX.
As such, we plan to adopt the community’s shared pool proposal. The transaction and listing fees will be collected into a shared pool and slowly distributed at a predetermined rate. For example, if the daily share rate is set to 1%, VX holders will receive 1% of the total fees collected by the previous 100 days (since the rate is set at 1%, 50 days if at 2%).
This model can stabilize fluctuations in the value of VX over time. Additionally, VX holders will not only benefit from a permanent right to share of transaction fees, but also an increasing shared pool. This is an effective supply to the ViteX economic model.
The below graph is calculated based on a daily 1% increase of the shares:
Under this setting, the transaction and listing fees from the 1st day will be fully distributed on the 100th day.
Voting Time: Apr. 10 to Apr. 18
Note: The Beta version of ViteX will only support testing coins which have no real values. ViteX will be officially launched after we test the beta version. More information will be released soon.
ViteX Community
Telegram: https://t.me/vitexexchange
Twitter: https://twitter.com/ViteXExchange
Official: https://www.vite.org/
Vite Forum：https://forum.vite.net
Telegram:
- English: https://t.me/vite_en
- Chinese: https://t.me/vite_zh
- Russian: https://t.me/vite_russian
- Korean: https://t.me/vite_korean
- Vietnamese: https://t.me/vite_vietnamese
- Thai: https://t.me/vite_thai
- Japanese: https://t.me/vite_japanese
- German: https://t.me/vite_german
- Arabic: https://t.me/vite_arabic
Twitter：https://twitter.com/vitelabs
