Dear ViteX Users,
There will be another campaign to receive 5X market-making as mining rewards for trading pairs VITE/BTC, VITE/ETH and VITE/USDT. The campaign will start from 15:00 (GMT+8) Sept 03 and last through 15:00 (GMT+8) Dec 03, 2021.
Mining Range
|
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
|
|
VITE/BTC |
15% |
100 |
15% |
0.01 |
|
VITE/ETH |
15% |
100 |
15% |
0.01 |
|
VITE/USDT |
15% |
100 |
15% |
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
Suppose that the USDT market has only /USDT 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:
|
|
Trading Pair
|
Total Eligible Buy Order
|
Total Eligible Sell Order
|
Ratio of VX for Buy Order : VX for Sell Order
|
Mined VX
|
|
Scenario 1 |
VITE/BTC |
1BTC |
1BTC |
1:1 |
Buy Order: 125 Sell Order: 125 |
|
Scenario 2 |
VITE/BTC |
3BTC |
1BTC |
3:1 |
Buy Order: 187.5 Sell Order: 62.5 |
|
Scenario 3 |
VITE/BTC |
1BTC |
200BTC |
100:1 |
Buy Order: 247.5 Sell Order: 2.475 |
|
Scenario 4 |
VITE/BTC |
1000BTC |
1BTC |
100:1 |
Buy Order: 247.5 Sell Order: 2.475 |
|
Scenario 5 |
VITE/BTC |
10BTC |
11BTC |
100:1 |
Buy Order: 247.5 Sell Order: 2.475 |
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
Links:
ViteX website：Index - ViteX - Cross-Chain DEX By the Community, For the Community
Vite APP Download：Vite wallet
Twitter：https://twitter.com/ViteXExchange
Telegram：https://t.me/vitexexchange
ViteX team
Sept 01, 2021
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