Introduction to token delegation

This article is to explain in very simple words about staking in VITE network.


Currently, it is possible to buy VITE tokens from exchanges like OKEx, Bilaxy, Hotbit, Bittrex, Upbit and IDEX. You can find the list here.

These tokens live on the Ethereum blockchain. Below, we will refer to them as VITE ERC20 tokens.
Although VITE has not yet released its main net, the test net is up and running, and supporting token delegation. 

To delegate tokens enables you to have a source of passive income, as you will be rewarded for it!

In order to delegate VITE tokens, you need to acquire VITE ERC20 tokens from exchanges, and to swap them for VITE Testnet tokens.
When the Main Net will be released in a few months, both ERC20 and testnet tokens can be swapped for main net tokens.

What are we staking for?

VITE’s consensus and block production rely on Block Producers (aka SBPs). 

Block Producers require votes from the community (also known as “delegation”).
Only the top 25 nodes by votes received are insured to produce blocks frequently.

Super Nodes receive rewards both for the blocks they produce and the votes they have received from the community.
You can see all of that in the VITE block explorer.

SwissVite is one of the top 25 Block Producers. We always align on the best payer in the Vite network to fix the level of rewards that we distribute to people delegating tokens to us.
So by voting for SwissVite, you are sure to get the best rewards level of the network! We pay the rewards automatically every day.

Read the following articles to go further

 

We also regularly publish updates about the rewards we distribute on our Twitter account, make sure to follow us!

Please come to say hello in our Discord and Telegram channels, we will be happy to answer all of your questions!

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