VITE is the native currency of the Vite network. It is used to secure the network in a Hierarchical Delegated Proof of Stake system. VITE is also used to obtain computational power in the form of Quota. This process is called locking. Quota is then consumed to pay for transactions on the network. The VITE locked for Quota can be unlocked and redeemed at no loss to the user, making Vite a truly zero-fee layer1 chain.
For trading purposes, VITE is now convertible to VITE ERC-20 token and VITE BEP-20 token. Users can easily deposit or withdraw between the native Vite chain and Ethereum or BSC. Here are our contract audit reports for VITE ERC-20 and VITE BEP-20.
In the Vite network, users can lock VITE to obtain Quota. Quota is then consumed to pay for transactions. The consumed Quota will replenish over time as long as VITE remains locked in the system. The locked VITE can be redeemed at no loss.Learn How
On the ViteX exchange, users can mine platform token VX by staking VITE. Staked VITE coins can be retrieved in three days and is locked for seven days before coins credited to each user's account. Please note that there are no rewards during the retrieval time mentioned above.Learn About Staking Rules
The super nodes in the Vite network are called Snapshot Block Producers, aka SBPs. Users can use the unlocked VITE to vote for the SBPs. Some, not all, SBPs share their block rewards with the voters.See Tutorial