Dear ViteX Users,
ViteX will enable Market-making as mining for trading pairs VITC/VITE, listed and operated by Operator Vitamin Coin, at 15:00 (GMT+8) on Nov 03.
There will be a special event to receive 2X market-making as mining rewards for trading pair VITC/VITE, which will expire at 15:00 (GMT+8) Nov 10, 2021.
About VITC:
Vitamin Coin aka VITC is the first meme token on the Vite Blockchain.
Mining Range
VITC/VITE |
15% |
10 |
15% |
10 |
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 VITC/VITE 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:
Scenario 1 |
VITC/VITE |
1000VITE |
10000VITE |
1:10 |
Buy Order: 22.73 Sell Order: 227.27 |
Scenario 2 |
VITC/VITE |
1000VITE |
15000VITE |
1:10 |
Buy Order: 22.73 Sell Order: 227.27 |
Scenario 3 |
VITC/VITE |
2000VITE |
5000VITE |
2:5 |
Buy Order: 71.43 Sell Order: 187.57 |
Scenario 4 |
VITC/VITE |
10000VITE |
1000VITE |
10:1 |
Buy Order: 227.27 Sell Order: 22.73 |
Scenario 5 |
VITC/VITE |
20000VITE |
1000VITE |
10:1 |
Buy Order: 227.27 Sell Order: 22.73 |
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
Nov 02, 2021
Team ViteX
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