By voting for VITE Snapshot Block Producers, you are rewarded with VITE tokens, and SwissVite is proud to announce that we decided to always be one of the most generous!
Please refer to this article in order to have a practical view of what voting is if you are not clear about it.
Our principle is simple: At the end of each round, we check who was the most generous, and we align on it!
OK, show me some numbers!
When are rewards distributed?
Rewards are received by SBPs at the end of each cycle.
A cycle lasts one day, at the end of the 1,152nd round; each round lasting 75 seconds.
SwissVite makes sure that rewards are distributed to their voters in a short delay after the end of each cycle!
You can appreciate this by checking our twitter feed, as well as the spreadsheet that summarize the rewards we distribute to our voters.
What are the rounds?
VITE Snapshot Blockchain’s consensus requires 25 nodes to agree on the blocks to produce. (if you are not familiar with what Snapshot Blockchain is, I invite you to read this article first). During each round, 23 of the top 25 SBPs will be randomly chosen to forge the blocks, as well as 2 of the remaining SBPs that are in the TOP 100. The one actually producing blocks is rewarded with VITE tokens by the network.
Being on the top 25 matters, and now you know why! So if you vote for us, make sure that you invite your friends to do so as well!
SBPs are rewarded each time they produce blocks. In consequence, they are incentivized to have a server that performs well! In VITE, there is a new block at each second! So being out of sync for a short amount of time for any reason will cause a block producer to “miss” some blocks, and thus to lose chance to earn rewards for those.
You can see that in the “Missed” column on the SBP page of the official block explorer. It represents the number of blocks missed during a round. We will do a detailed article on this table later.
Coumpound your gains!
Because of how the system is designed, you need to connect to your wallet each time you have received rewards if you want your gains to count in your voting power! This is very quick, just log into your wallet!
Vote for us now!
Log into your web wallet and vote for SwissVite!
Also published on Medium.