Vitely #8: DAO Proposal Winner, Gateway Changes, Minion Evolves

Vite’s first DAO proposal, community takeover of all gateways, Minion’s token evolution, and imminent upcoming Viterium features.

A lot happened on Vite this past week. We had our first ever successful Vite DAO proposal. We also learnt that Vite is going to be transferring the gateways to the community, the first being the BTC gateway. Minion evolves into a new token, and we get a tease for soon to be released Viterium features. The Vitamin Coin team is having a party this week. And lots more news.

Vite DAO Proposal

Earlier this week, Vite launched, then announced, the first official proposal on the tool with a runtime of 3 days for voting.

This marked an important milestone in Vite’s transition to a DAO. Essentially, this vote was to elect someone to run the Vite DAO.

Back in our Vitely #4, we went over Vite’s decision to elect one person to run the DAO, we also went over a counterproposal by a group of Vite developers who wanted to run the DAO together, concerned about consolidating the entire DAO management to one person.

Vite decided to continue with their original decision to elect one person to run the Vite DAO. As the votes started tallying, two names remained at the top, Not Thomiz and Elemont. Both being well known, intelligent members of the community.

Elemont, being the CEO of Vinu, brought in the experience of already building and maintaining a successful multimillion dollar project.

Not Thomiz, a “super coder” came with the experience of already building many of the tools we use everyday on Vite, such as Vitabot, VITCSwap and others. However, it also came with one other unique benefit. If Not Thomiz won, he would push forward the counterproposal electing the previously mentioned group of Vite developers to run the DAO together.

There were also issues with the DAO proposal. Only Vite held in your wallet prior to the launch would count. Since the proposal was launched, and then announced it excluded anyone who had their Vite locked for Quota or staked in pool platforms such as Viva. Concerns about the ViteDAO tool itself were also brought up, noting limited contract interaction, centralization and anonymous voting, possibly allowing for manipulation. This is due to the ViteDAO tool needing a centralized service to check user balances and make vote calls.

How much power this move of giving control over this DAO SBP will have, is still to be determined. Some think it will finally allow the community to have a directive voice to bring change to Vite. Others believe it will simply allow the winner to use the funds generated by the SBP to fund development projects.

Regardless, Vite has now completed its first DAO vote, marking a milestone in its plan to transition to a DAO. The community was able to make their voices known, and make one small decision towards the direction Vite takes.



Vite Gateway Changes

Vite is moving to transfer the BTC gateway to VGate. This has caused some controversy for multiple reasons.

  1. For a chain that’s trying to transition into a DAO, there was no vote on giving away arguably the most important gateway. Some argue that they’d have preferred this sit with a more active and reachable team such as eDAO, XGATE or ViNo.
  2. VGate appears to have a bad track record of support and can only be contacted by email.
  3. The VGate team is unknown, however it’s also likely that they are colleagues of the Vite founders. Not Thomiz found references to Vite developers on the VGate GitHub commits, as well as the shared hot wallet addresses for both Vite and VGate.

Community Manager, JuanVite also noted that the BTC gateway is only the first gateway to transfer ownership.

There are more than btc gateway, all gateways will be transferred to community gradually. Firstly comes the current operators.


Minion Token

Minion token has gone through a large change! They are no longer the MINION token, but have transitioned to a new token called WOLKEN (WOLK-000).

Over the upcoming days/weeks they’re going to be replacing references to Minion with Wolken on their Discord Server.

Any minion tokens you have staked will automatically convert to WOLK. However any tokens not staked, you will have to manually swap yourself at a rate of 1:1. The team is also working on revamping their website, and have released an updated white paper.

Minion Wolken Annoucements

(Announcement 1 of 4: Minion Token says goodbye)

Hey, guys!

Our cute and friendly token is now bidding us farewell. You heard that right! Minion Token ($MINION) is going away and it’s for good.

We’ve heard your feedback and we agree that one of the things that needs to be improved is our brand itself. So, it’s now time for our token to step out of that minion-shaped shadow and be given the chance to prove its own self.

Everyone, say hello to WOLKEN ($WOLKEN / WOLK-000)! In the next coming days or weeks, we are going to remove reference to Minion Token in the server and replace it with our new token: WOLK.

We will be posting updates and more detailed information regarding this.

Thank you all for your unlimited support and patience.

To review all remaining announcements including instructions about converting your tokens to WOLK, please check the Wolken Discord Server.

Updated WhitePaper

Viterium Upcoming Updates

Azbuky, the developer of everyone’s favourite wallet Viterium, has teased some soon to be released features 🀩. This includes a dashboard, a possible “Claim All” button for pools and something else huge!

The long awaited, transferable NFT givens out during the presale, and benefits that those bring also look to be coming soon.

VITC Party

The Vitamin Coin team is having a party on their Discord Server this upcoming week, celebrating the birthdays of two of their members, Vitaminion and Turtel πŸŽ‰. For those interested in joining, there also look to be some rains planned, and prizes to be given out.

VITC Announcement:

Mark your calendars, we’re throwing a party on Discord! πŸ₯³πŸŽ‚

We’re pleased to announce a grand discord party on the at June 16, 2023 3:00 PM UTC. We’ve got a double reason to celebrate because not only is it party time, but it’s also the birthday of two of our remarkable members, Vitaminion and Turtel! πŸ₯³

These two have been instrumental in making our community vibrant and exciting, and it’s only fitting that we come together to wish them well on their special day.

So, are you ready for some fun? We’re talking games, activities, and interactions galore! And here’s the cherry on top πŸ’

We’ve set aside over ??????? VITC for prizes and rains! That’s right, lots of tokens are up for grabs. Your enthusiasm and participation could lead to a token downpour!

Prepare to have an absolute blast, as it’s going to be a party you won’t want to miss! It’s the perfect opportunity to celebrate, connect, and potentially walk away with some fantastic token rewards.

Looking forward to seeing all of you there!

πŸ“° Even more News

A lot has happened in the Vite Ecosystem this week. To avoid making this Vitely edition considerably too long, here’s a quick run down.

  • ViNo listed the Oscar token trading pair on ViteX. This was listed in the USDT market as OSC-000/USDT-000
  • Vinu had a large burn and airdrop event in their Discord this week. Burning over 2 trillion tokens 🀯.

The Vitamin Coin team have published a new healthy video.

The MakingCents team published a new educational video.

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