Announcement：Expanding the value of mining range for selected trading pairs

In order to everyone to join mining conveniently. ViteX will adjust the mining range of trading pairs, which is basically + 5% more than the original. The adjustment will begin at 15:00 on January 8th. See details below:

The current mining accounted for 10% of the total VX release on the day, the BTC trading market orders divided 5% of the daily VX, the ETH trading market orders divided 1.5% of the daily VX, the VITE trading market orders divided the daily VX 1.5% USDT trading market orders divide 2% of VX daily.

Adjusted mining range for selected trading pairs of BTC

Adjusted mining range for selected trading pairs of ETH

Adjusted mining range for selected trading pairs of VITE

Adjusted mining range for selected trading pairs of USDT

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›

Suppose that the BTC market has only PEG/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:

The mining calculation is conducted 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

Jan 7, 2020

Team ViteX