Mining

What is VX?

VX is the coin native to the ViteX platform. The total supply of VX is 100 million, to be fully released in two years with no inflation. The daily average VX distribution is 137,000 with 10% to be set aside to fund future ViteX developments. VX holders enjoy payouts from a shared dividend pool comprised of transaction fees and listing fees.

How do I get VX?

There are multiple ways to mine the ViteX native coin, VX. Mining is trading, staking, market-making, referring and listing.

VX mining rules

1. Trading as mining. Each time you execute a trade (i.e. take an order off the order book), you get some VX. The amount of VX you receive will be calculated based on the proportion of the amount of trading fees that you paid to the total amount of trading fees collected by ViteX that day.

2. Referring as Mining. Every trader will get a referral code that they can share with their friends. When your friends sign up, they get 10% off of all trading fees on ViteX (Base Transaction Fee + any applicable Zone Fees). You benefit as 5% of your referred friends' accumulated trading fees get counted towards your daily accumulated trading fees.

3. Listing as Mining. List new trading pairs to mine VX. A user (“token issuer” or an “operator”) that lists a new trading pair will also receive VX. The token issuer’s reward is calculated as if he/she executed a trade involving a transaction fee of 1,000 VITE.

4. Staking as mining. The Vite public chain requires quota to properly allocate is computing resources. Quota is obtained by staking VITE. If you stake VITE to help ViteX obtain the quota it requires to run, then you get VX.

5. Market-making as Mining. Place orders to boost liquidity on ViteX and you’ll be rewarded with VX.

VX distribution rules

The total supply of VX is 100,000,000 with no inflation. The release of VX will gradually slow down to a mining timeline of two years. The number of VX mined decreases 0.5% daily in the first year and it will decrease by 0.2% every day in the second year.

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