Q: Why 25 hour VITA minting cycles?

The minting cycle for new VITA is set to 25 hours to ensure equal opportunity in the VITA Bidding Pool. With 25 hour cycles, we rotate Bidding Pool end times across different regions.

Q: How do I claim and store VITA?

VITA is a fully decentralized token — it is minted and claimed via smart contract. Each voter will be responsible for claiming their share of new VITA daily via smart contract — the process is simple and will teach elementary blockchain skills to all VITA users.

The VITA-claim smart contract will be easily accessible via IoTeX Web & Desktop Wallets — to access your wallet, you will need the private key from your ETH staking/voting account (note: your ETH account has a corresponding IoTeX account that shares the same private key).

We will provide detailed tutorials on how to claim VITA later this week.

Q: What will happen to unclaimed VITA from the Staking Pool?

Any VITA unclaimed after each 25-hour cycle will be re-distributed as follows:

25% will be added to the following day’s Staking Pool

50% will go to Community Pool to grow the community

25% will be added to the following day’s Bidding Pool

Q: I am an IoTeX voter — does VITA affect anything?

The only way that VITA is linked to the staking/voting process is that more staked IOTX = more VITA to claim! Otherwise, VITA does not change anything about the current staking/voting process. You will not need to adjust your voting buckets in any way. The IOTX rewards you receive from Delegates will not change. If you are not interested in VITA, you do not have to participate and it will be business as usual!

Q: What kind of token is VITA?

VITA is an XRC20 token running on the IoTeX Network. XRC20 tokens are issued and managed by smart contract. In the future, there will be many XRC20 tokens launched on the IoTeX Network from developers and enterprises for their dApps or ecosystems. Note: the only native token of IoTeX Network is IOTX.

Q: Is VITA tradeable?

VITA is a decentralized token — exchanges are able to list VITA as they wish.

Q: Will there be a VITA Airdrop?

Yes, there will be airdrop events in the VITA Discord and by other means. All voters can claim VITA daily. Also, there will be a one-time VITA reward for Genesis Voters (i.e., those that voted before Mainnet launch) during the week of June 17 as planned in the beginning of IoTeX voting program.

Q: What will happen to the current IoTeX points system?

The current points system will be discontinued in the future. The points will be redeemable to IOTX before the discontinuation.