Vitex exchange was launched on July 30, 2019 as part of Vite ecosystem, the CEO is Charles Lui and the COO is Richard Yan because is part of vite it is also lagally registered in Silicon Valley. If you are about to register on the exchange you will see some countries listed which legally can not operate on the platform.
Vitex Exchange is an open finance decentralized platform built on the chain of vite with smart contract and without the custody of the assets being traded and possibility to freeze the fund. The exchange allow anyone to arbitrarily list any token in the four base market in as much as the person is ready to consume 10,000 vite coin. One can also apply to be Zone Operator on the exchange, a Zone Operator is free to list a coin in it's jurisdiction and can charge additional trading fees of up to 0.2 percent.
All the makers and the takers paid equal trading fees of 0.2 percent, but if someone can stake 10,000 vite to become VIP this will be cut by half or if or stake 1million vite to become Super Vip such person will be trading without fee.
To withdraw from the exchange come with a fee but deposit is free, it is not possible to deposit any fiat currency for now, so one can only trade with cryptos. It is also good to know that if a user is withdrawing Vite coin, no fee is paid.
The exchange has a token called Vx which does not have ICO nor does it has private sale, instead users can have it by doing one of the following four things on the exchange:
1.Stake vite coin to get vx, if you unstaked it will take 7 days before you will have your coin back and without reward during the waiting period.
2. Referred someone to the exchange through your personal referrer code, when the person trade you get Vx as reward.
3. Trade on the exchange and get Vx.
4. Place order in certain specified market thereby helping in market making and you will get Vx as reward.
When a user use referral code of someone such user trading fee will be cut by 10 percent. You can also have many account of vitex within the vite wallet.
When a user stake at least 10 Vx on the exchange such person will be getting btc, eth, and usdt inform of dividend daily from dividend pool, because everyday 1 percent of the total trading fees is being distributed as dividend.
In conclusion, with much marketing and orientations many will come to know vitex exchange and the associated advantages.