Vitely #1: Bye CEO, Vite’s First DAO Tool, VinuPay Launch

  • Posted by Soi
  • Last updated: April 29, 2023
  • 3 minute read

New exchange listings and Vinu products created buzz in the Vite community, but Vite’s transparency and communication concerns sparked controversy.

This last week seemed to be a wild week for news on and around Vite. We had multiple listings, new product launches, Vite’s first DAO tool, and a lot of controversy over a lack of communication and clarity from Vite.

CEO MIA?

In breaking news… that apparently happened months ago, the CEO and CMO @lukekim153 is no longer with Vite (or Twitter). A post went out months ago saying that Vite was becoming a DAO, however it wasn’t expressly conveyed that this meant the CEO had left.

Vite is transitioning to a DAO, with the Core Team of “misfits and mavericks” now becoming Core Contributors.

Some seem to agree that as a DAO Vite doesn’t need a CEO, others seem to think Vitelabs Vite DAO should first build the DAO tools/goverance… almost all think it could have been communicated to the community better.

Some community members were frustrated at the lack of communication and suggested Vite start acting like a DAO immediately, even if that comes down to voting with emoji on Discord.

You can read more about the Transition to Vite DAO here: https://medium.com/vitelabs/vite-dao-26337eef60b4

Vite’s First DAO Tool

A day later, in one of the fastest deliveries ever seen from Vite, they announced their first DAO tool. This app is working and ready to test, going live in around 2 weeks at which point all the proposals created during this testing phase will be wiped.

Many of the community members, including prominent community developers have been voicing concerns over the lack of clarity around Vite, and concerns that Vite is not acting like a DAO. Developer Not Thomiz has also dug deeper and revealed the SBP called LetsGoVite is actually run by Vite Labs.

The Vite Core Team Core Contributors haven’t yet answered many of the questions that the community are demanding answers too. While some questions have been answered, Members of the Core Contributors and Community Managers are requesting patience and even saying they have plans to publish a new roadmap.

At the time of posting this, the conversation is on-going in the Vite Discord. Community Manager JuanVite has committed to writing an article this upcoming week answering the questions that the community has brought forward.

While there is still more clarity requested on how the DAO management will work, the role of Vitelabs, its Gateways, and their end goals, the DAO tool does appear to be taken by many as a positive step in the right direction.

Vitasensus Developer

ufe-pr

VinuPay Launch ?

VinuPay

Some exciting news came to Vinu this week. VinuPay has officially launched! VinuPay is a name service and invoice creation service that became available on April 22. With this service, users are now able to register wallets as a username such as “vitespot.vinu”.

We’re planning a guide on Vite Spot going over all of these features and how to use them. Coming soon.

VinuPay Developer

imalfect

Ledger Support

Vite DAO has announced that they are one step closer on getting full Ledger support. Once finished, users will be able to install the Vite app via Ledger Live and other Ledger channels.

Ledger support has been a long awaited functionality, and it’s positive to see Vite working on this.

For those that don’t know what Ledger is, it’s one of the most secure means of storing crypto as it’s a hardware wallet.

New Listings

Earlier we saw a tease about TON cryptocurrency and VITE. Many seemed to have speculated and become excited that this was going to be a big partnership.

Later, Vite posted that it was an announcement for a TON / VITE trading pair on ViteX. Excitement levels dropped.

This listing on ViteX has the benefit of market-making as mining and trading as mining. Unfortunately there have yet to be any trades on this pair.

New on Vite Spot

Vitely Recap

We hope you enjoyed and found value in our first ever Weekly Vitely Recap. If you want more frequent updates on what’s happening in the Vite world, please join our Discord where we try to condense the news from all of Vite and the Vite Ecosystem in one place as soon as it happens. Don’t just take our word for it, see what this one enlightened user had to say about it.

epic channel!

5am

With a review like this, how could you not want to join?

Discord