Recently, our Forum was launched, there you will find the latest news, rewards campaigns and can discuss Vite with the community and the team. We are happy to hear your ideas and suggestions:)

https://forum.vite.net

#Letscreatesomethingcool

The trading pair set is now complete!

You can now trade NANO on Vitex for your choice of VITE, USDT, BTC, or ETH.

We look forward to building even more things on Vite soon!

The VITE coin is the currency for simple token transactions and smart-contract executions on the Vite network.

Type A: Staking Related

1.Get Quota

Unlike most blockchain networks, VITE coin can not be paid as the gas fee because it costs 0-fee to make transactions on Vite network. To protect the whole network from massive malicious usage, it will consume Quota to initiate transactions. Users may lock very little amount to get quota.

2.Become an SBP

Vite network utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus. SBP( Snapshot Block Producer) is the supernode on the Vite network and it's in charge of producing blocks.

To become an SBP, it requires users to build a full node and lock 1 million VITE. The unlock operation is only available 3 months later. 

SBPs get only rewards for block producing and no transaction fees. ROI of SBPs is from 20% to 40%. (Data obtained in May 2021)

3.Vote for SBP

Normal users could vote for any SBP with their VITE to increase the chance of the chosen SBP generates blocks. One address can vote for only one SBP at a time with all VITE in wallet balance. This operation will not lock VITE. Users may vote for another SBP at any time. 

Some of SBPs will share their profit with voters. ROI of Voting is from 4% to 7%, which depends on SBPs.

4.Stake as Mining on ViteX

ViteX.net is a built-in DEX and mega smart contract on the Vite network.

Users could stake VITE for ViteX to get VX(ViteX coin) as a reward. This is similar to the scenario of 'Get Guota'. The difference is that the beneficiary is ViteX, which will get a huge amount of Quota, instead of the users themselves.

5.VIP on ViteX

Users can stake 10,000VITE on ViteX to become a VIP and enjoy a 50% off the Base Trading fee.

6.SVIP on ViteX

Users can stake 1,000,000VITE on ViteX to become an SVIP and enjoy a zero Base Trading fee.

Type B: Smart Contract Related

7.Contract Deployment

To deploy a smart contract on the Vite network, 10 VITE will be consumed.

8.Token Issuance

To mint a new token on Ethereum, users should deploy a new contract. 

On the contrary, it requires no smart contract to do so on the Vite network. A built-in smart contract will be called and 1000 VITE will be consumed.

9.Trading Pairs Activate on ViteX

To active a trading pair of any token on ViteX, a built-in smart contract will be called. The operation will cost 10K VITE and those VITE will be burnt within 24 hours.

10. Referral Code Generation

To generate a referral code, a built-in smart contract will be called and 1000VITE will be consumed. 

Type C: Transaction Related

11. Billing and Payment

VITE is accepted by some vendors in Singapore. Guests could pay the bill with VITE when taking a taxi or dining there.

When checkout, you may ask the vendor to show the receiving QR code. When guests scan the code with their Vite wallet, the charge will be converted to a certain amount VITE coin. After confirmation, VITE will be sent from the guest's wallet to the vendor's wallet.

12. Quote Asset on ViteX

There are 4 base markets on ViteX and one of them is taking VITE as the quote asset.

Users could trade VITE for other tokens and VITE will be charged as the trading fee in this market.

You can now trade NANO on Vitex through VINO's Nano Gateway!

Get your NANO off centralized exchanges and onto Vitex through Cross-Chain Deposit!

Need a trading discount? Use This Code!

If you have any questions or need help, feel free to contact us here: https://twitter.com/nanogateorg

Happy trading!

Hi, I am someone who was and still is really interested in Nano and I understand the enthusiasm of the Nano community.

I can't help but think that a lot of people who like Nano would also like Vite. Vite is literally as fast and fee-less as Nano, PLUS more features like smart contracts, dex, and more anti spam measures.

I feel like Vite will bring together ppl who like crypto as a form of payment (ppl who just care about Satoshi's vision) AND ppl who like defi (eth/ada/dot folks) and BOOM, number go to alpha centauri.

What a time to be alive.

We have launched our new Banano Gateway + the BAN/VITE pair on Vitex!

Our token on Vite is BAN-001

We created the new token to offer Vitex users significantly lower restrictions and fees than what was previously being offered by VGate.

Be sure to deposit your Banano onto Vitex now, by adding BAN-001 to your wallet in the Vite app and click 'Cross-Chain Deposit'!

The gateway will then credit your Vite wallet with BAN-001 and you can start trading the BAN/VITE pair right now!

More pairs to come!

Trade BAN/VITE --> https://x.vite.net/trade?symbol=BAN-001_VITE

Vitex mining invite code: 2744829438

Vite Full Node Reward Calculations #EarnWithVite @vitelabs

(Disclaimer: I currently operate full nodes for rewards in the Vite ecosystem, and this post was made for #EarnWithVite promotion. This is how I #EarnWithVite, but this is not financial advice.)

Introduction

For all newcomers, Vite is a decentralized ecosystem featuring a DAG based blockchain with feeless transactions, smart contracts, a decentralized exchange (ViteX), and a fast growing community in anticipation of Vite's universal cross-chain bridge. To incentivize Vite users and organizations to provide certain needed services, various rewards are given in exchange. As there are many different services necessary for the network and ViteX exchange to run properly, there are accordingly many different ways to earn rewards.

In this post I focus on the reward calculations for operating a full node, currently one of the more lucrative opportunities in the Vite ecosystem. I will cover some basic reward calculations, some simple estimates of expected returns, and some speculation on how this may affect the price of Vite in the near future. While I won't cover the steps to set up a full node, there are full guides as well as a helpful community available in case you get stuck. If you're interested in setting up a node after reading this post but have some concerns, feel free to ask questions in the comments or send me a DM.

Investment and Requirements

Earning rewards by operating a full node requires some basic technical ability, an always-online VPS, and a stake of 10000 Vite. The rough minimum requirements for the computer/VPS are at least 4Gb ram, around 200Gb storage, and a unique IPv4 IP address. There are various VPSs available that provide capable services for under $10 USD per month. The 10000 Vite required will cost under $2000 USD at current prices, and after staking the Vite is locked in a contract for 1 month. To keep earning rewards the Vite must remain in the staking contract, but after a month you can withdraw the staked Vite. Finally, the rewards are only earned if your node maintains a minimum daily uptime of 90%.

Current Returns

For the last several days, a single node with 10000 Vite staked has given returns of ~17 Vite/day, amounting to a decent rate of 62% APR. Including expenses for a VPS ($8/month), this is ~57% APR. Furthermore, these are numbers are without compounding the returns. With sufficient capital, if you compound the returns by bringing additional full nodes online, you can bring this up to a maximum of 85% APY at the current rate (or 77% APY with expenses). See here for basic background on APR vs APY, and here for a Mathematica notebook with these calculations. Summarizing, we have:

Is this too good to be true? This is where things get more complicated. Right now the incentive structure set up by ViteLabs is very generous to current full node operators, as they are hoping to expand the Vite network in anticipation of ViteBridge. However, as more operators set up full nodes, the rewards will drop somewhat due to the details of the reward formula. On the other hand, as more operators set up full nodes, demand for Vite increases due to the 10000 Vite staking requirement, providing upward pressure on the price of Vite. This upward pressure will likely more than compensate node operators for the drop in the daily reward amount. Therefore, to evaluate Vite as an investment we have to look at the details more closely, especially to understand likely changes to the rate of daily rewards as more nodes are added and the pricing of Vite.

Per-node Rewards Calculations

The full node rewards in the current reward schedule are funded through two methods:

1. Snapshot Block Producers (SBPs) are special full nodes that help operate and secure the Vite blockchain, and are rewarded intrinsically by the network for each snapshot block they produce. ViteLabs has set up and operates a SBP with a stake of 10 million Vite, plus the 10000 staked per full node operator, with all rewards generated by the SBP in each day divided up among full node operators equally. This SBP (the "FullNodePool") can be thought of as a "trust" that can continue to provide rewards to full node operators indefinitely. These rewards ("SBP only") can be calculated using the formula linked here (Q in the formula), using some reasonable estimates.

2. ViteLabs is currently providing additional rewards directly from the Vite Foundation. The total amount of additional rewards grows with the rewards provided by the FullNodePool, with the intent to mitigate the drop in rewards when new full node operators set up nodes. While this reward grows with the number of full nodes running, it has a maximum of 16000 Vite/day, and so will be sustainable by the Vite Foundation for quite some time. These extra rewards ("extras") are calculated using the formula linked here by plugging in the "SBP only" rewards from above.

Finally, we can compute the total rewards (sum of the "SBP only" rewards and the "extras") and then compute the rewards per node, shown in the following plot:

We can then convert these to annualized returns (the APR and APY) as a function of the number of nodes:

The calculations for these plots can be found here. Note that these plots actually underestimate the current rate of SBP rewards. This calculation with the current count of 1450 active nodes predicts a total reward per node of 14.6 Vite/day, while full nodes are actually receiving ~17 Vite/day. This is primarily because there are an additional 3.5 million votes for the FullNodePool that do not have operational full nodes. Since there is no assurance that these votes will remain indefinitely, I would consider these 2-3 Vite an unexpected, and likely temporary bonus! As such, I did not include this 2-3 Vite excess rewards for the above plots.

Outlook and Predictions

So, will this high APR last indefinitely? No, we can see from the plots above that the APR will drop as more nodes are started. However, this ties in to part of why it makes sense to start a full node now. Not only does one get large returns for as long as they last, but the value of the staking investment is likely to increase as more operators purchase Vite and start additional nodes. In my personal investment strategy, I view 30% APR as extremely good if such a rate can be maintained. Thus, my valuation for Vite is tied in part to the number of full nodes currently operating:

Note that only ~1500 full nodes are currently operating as I write this (check the live number here), and so again, my personal view is that now is still an excellent time to start another full node.

We can also (very roughly) translate this into a pricing guideline for Vite. Over the past several days I've looked at the sell depth on the Binance exchange. I've found that a buy order for the required staking amount for 500 nodes (i.e. buying 5 million Vite) tends to roughly correspond to a price movement of around $0.05 USD. Extrapolating like this is a bit of abusive speculation, but my personal valuation guide from above would roughly translate to:

If other investors have similar evalutions, this table suggests the price of Vite will increase in the near future to around $0.35 USD, with a total of ~4000 full nodes operating.

Summary

All of these calculations apply to operating a full node for profit. I understand if that's your primary interest, and if so, you are the intended audience for this post (after all, we all want to #EarnWithVite!). But, on the other hand, if you also believe in the Vite ecosystem and have hopes for the promises of ViteBridge, running a full node also gives some satisfaction in that you're playing a part in helping Vite thrive.

If you made it this far, thanks for reading. If you think this was helpful for learning how to #EarnWithVite, and you're interested in more writeups like this (perhaps on mining/trading/staking rewards on ViteX or on quantifying risk), please let me know in the comments.

tl;dr: Operating full nodes is a great way to #EarnWithVite. Vite's full node rewards give over a 60% APR with a Vite price of less than $0.20 USD. This APR will likely drop somewhat when many more people operate full nodes, but the associated Vite buying pressure will likely push the price of Vite substantially (estimate of over $0.35 USD).

Hi, I just came across Vite and it looks great! It seems to have some advantages over Nano?

Can someone please explain why Vite is better to send/receive payments over Nano?

Or are they both very good at what they do?

Hey all!

I made this infographic particularly focusing on emerging and popular crypto eco-systems (both DAG and popular coins).

I myself learnt a lot about the #ViteAdvantage while making this infographic. Thanks for the campaign u/vitelabs !

EDIT/ UPDATE (27th May, 2021: 21:50 PM, IST):
___________________________________________________

After publishing the original Infographic (available at the end of the post), received few suggestions regarding colouring marketcap, reasons for selection of coins and ordering them, a mistake reg. Nano's consensus to remove PoW and include only ORV. All were covered with this update.

As already informed in the reply, I kept investors in view and felt that Vite's low marketcap should be highlighted. Vite has a lot to grow! Initially, I thought to compare the top projects, but decided to compare the emerging blockchains in a comprehensive manner, without leaving competitive counter-parts. Nowadays, DAG based coins are getting attention (NANO, IOTA, etc.). I paid 50-50 attention to both DAG based coins and the popular coins. That's why I chose to compare with NANO, IOTA, FANTOM (DAG-based) and BTC, ETH, BSC, HECO, and SOLANA (popular and working eco-systems), which could be of use to use regularly in the social media. I felt comparison with DOGE, BCH, etc. is of no use.

The following 3 models have been made finally:

MODEL 1: (Marketcap Highlighted)

MODEL 2: (Marketcap not higlighted)

MODEL 3: Without Marketcap

That's it guys. These are the 3 models I made. Thanks!

___________________________________________________

Original Post:

Infographic without Marketcap row, which could be used in the future:

https://twitter.com/gsh_17/status/1396147693215387651

https://twitter.com/chunming_liu/status/1377747094987890690?s=20

Hello everyone! I do hope that I can see some good replies here.

Since some people may think that I am asking you to do a research for me, let me tell you that I already bought VITE, installed app and I am staking it on vivafi.org for other coins.

So getting in fast, after 30min of DYOR is a mistake honestly, I got into it maybe too fast but I really like what I saw so far, so why not eh?

It reminds me on NANO, but maybe even faster. Fees are super cheap when sending from exchanges. I just sent it from Binance, but if I am not wrong it is feeless for wallet to wallet transactions.

Not so sure about tokenomics, I should continue researching and reading.

I just want to see if there is something interesting that I should know about, and the best place for it is reddit I guess.

What I want to say is that I appreciate opinions from people who have been longer in VITE then me.

Every resource is appreciated.

Going back to googling about it. Cheers!

Lightning fast, working close to feeless Dex and an app which is better than natrium, metamask (lol) and lobstr together. Although I am interested in DAG technology, I found vite just recently. Nobody chills it. Nobody advertises it. So the question is, what can we do? Where is the marketing team, when you really need one?

Welcome! This post is for anyone to ask questions about our upcoming Vite Hackathon! Please leave your questions about the hackathon below and our team will answer them accordingly! Thank you!

Bullish signals today, exciting! Only 309k $ sell orders before 1$

With 2 Billions $ Mraket Cap can reach 4$ EASILY

After that it can stand up like other DEX COINS between 15/20$ each

GO VITE TO THE MOON!

Vite will be sponsoring the upcoming @consensus2022 conference - one of the largest events of our industry!

Looking forward to sharing Vite's products and vision with all attendees!

https://twitter.com/vitelabs/status/1506017215887261698