An Update to the Rules of Market-Making as Mining

Dear ViteX users,

In order to provide users with a better trading experience, selling orders will be treated as market-making as mining at 7 am November 19 UTC +0. The rules of the first batch are as follows:

Trading Pair	Eligible Range for Buy Orders (distance to the best bid)	Max. Ratio between Buy Order VX Rewards and Sell Order VX Rewards	Eligible Range for Sell Orders (distance to the best ask)	Max. Ratio between Sell Order VX Rewards and Buy Order VX Rewards
VX/BTC	10%	100	10%	0.01
VITE/BTC	15%	100	5%	0.01
ETH/BTC	5%	10	5%	10
GRIN/BTC	8%	10	8%	10
PASC/BTC	15%	10	15%	10
VX/ETH	10%	100	10%	0.01
VITE/ETH	15%	100	5%	0.01
GRIN/ETH	8%	10	8%	10
VX/VITE	10%	100	10%	0.01
GRIN/VITE	8%	10	8%	10
BTC/USDT	5%	10	5%	10
VITE/USDT	15%	100	5%	0.01
ETH/USDT	5%	10	5%	10
VX/USDT	10%	100	10%	0.01

Note:

The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.

The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.

Example 1 : Say the BTC market only has ETH/BTC trading pair. The BTC market is allocated mining rewards of 250 VX for the last 24 hours. Consider five scenarios below:

Scenario No.	Trading Pair	Total Eligible Buy Order	Total Eligible Sell Order	Ratio of VX for Buy Order : VX for Sell Order	Mined VX
1	ETH/BTC	1BTC	10BTC	1:10	Buy Order：22.73 Sell Order：227.27
2	ETH/BTC	1BTC	15BTC	1:10	Buy Order：22.73 Sell Order：227.27
3	ETH/BTC	2BTC	5BTC	2:5	Buy Order：71.43 Sell Order：187.57
4	ETH/BTC	10BTC	1BTC	10:1	Buy Order：227.27 Sell Order：22.73
5	ETH/BTC	20BTC	1BTC	10:1	Buy Order：227.27 Sell Order：22.73

Example 2 : Suppose that the USDT market has only VITE/USDT trading pair, and mining rewards of 250 VX gets allocated in the last 24 hours.  Consider five scenarios as follows:

Scenario No.	Trading Pair	Total Eligible Buy Order	Total Eligible Sell Order	Ratio of VX for Buy Order : VX for Sell Order	Mined VX
1	VITE/USDT	10,000 USDT	10,000 USDT	1:1	Buy Order: 125 Sell Order:125
2	VITE/USDT	3,000 USDT	1,000 USDT	3:1	Buy Order:187.5 Sell Order:62.5
3	VITE/USDT	100 USDT	20,000 USDT	100:1	Buy Order:247.5 Sell Order:2.475
4	VITE/USDT	10,000 USDT	10 USDT	100:1	Buy Order:247.5 Sell Order:2.475
5	VITE/USDT	10,000 USDT	10,001 USDT	100:1	Buy Order:247.5 Sell Order:2.475

With trading pairs involving VX and VITE, when the total amount of mining-eligible sell orders exceeds the total amount of mining-eligible buy orders, the ratio of buy order VX rewards and sell order VX rewards is 1:100.

The mining calculation formula is as follows:

The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)

The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn

Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day.

Special Note:

1. Mining eligible order ranges may be subsequently adjusted;

2. We have selected the above trading pairs for initial trials; more trading pairs may be added in the future.