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Launched in July 2019, ViteX refers to a decentralized exchange created by a company registered in the British Virgin Islands. It is a decentralized exchange that has a native token called VX, which is exclusively mined by the ViteX community. ViteX possesses four major trading markets: VITE, BTC, ETH, and USDT.
Some features of ViteX include on-chain order matching and asset management, incentive distribution via smart contracts, and locally stored private keys. Users can receive rewards by mining VX by trading, staking, market-making, listing, and referring. VX can be held to get daily rewards. ViteX's open-source protocol, token forging, gateway creation, coin listings, and order book information are transparent and open to the public.
The VX token can be mined by the community and will be used to decide community members’ dividend ratios. The token will have no pre-sales. There will be no pre-mining or initial coin offering (ICO). About 90 percent of the maximum supply will be distributed amongst the trading community, and 10 percent is reserved for Vite Labs. Transaction fees that are collected will be distributed back to the traders based on the amount of VX they hold.