Melonport, a private company building the open-source Melon Protocol, a blockchain protocol for digital asset management has just announced a portfolio manager competition which aims to enable users to test the platform in a safe environment with play money on the Kovan Ethereum testnet. The company said it will be the first of many, with prizes and scope of the competitions to grow as time goes on.
This particular competition will run from noon (12:00) CET Monday, July 17th, 2017 until noon (12:00) CET Friday, July 21st, 2017. The competition itself will run on an early version (v0.2.0-alpha.3) of the Melon protocol which lives on top of the Kovan Ethereum testnet. Participation in the competition is free and open to all comers.
General Terms & Registration
- Participants will need to request Kovan Ether on Melonport’s Gitter if not provided with it automatically.
- Participants will need to provide an e-mail address for the first competition which will allow for communication with winners at the end of the competition.
- The email addresses will be linked to participants’ public address and fund names on the Kovan testnet but any record of these email addresses will be deleted at the end of the competition.
- Competing funds will be visible on the blockchain at all times as well as on the ranking board of the portal.
- For the first competition, prizes will be sent to the top three performing funds based on share price. The prizes will be Melonport t-shirts. There will be more competitions in the future, and as the underlying software continues to be developed, prizes will become more valuable and attractive.
Terms For Trading & Where To Begin
- Install Parity or Metamask and set up a fund. Instructions on how to do so can be found here.After having signed up, participants will receive Kovan test net Ether to compete in the competition. The Kovan test net Ether will be allocated to each participant. This will be considered the fund’s AUM (AUM = Assets Under Management).
- After having signed up, participants will receive Kovan test net Ether to compete in the competition. The Kovan test net Ether will be allocated to each participant. This will be considered the fund’s AUM (AUM = Assets Under Management).
- No trading can commence before the official start time of the competition (12:00 CET Monday 17th July 2017). Anyone who starts trading before, will not be included in the competition. Once the competition starts, the Melon managers can start trading.
- For the purpose of this competition, it is only possible to “take” orders on the order book. It is not possible to place or make an order on the order book. This is for security reasons.
- In order to be eligible for prizes, Melon Managers need to have setup a Melon fund linked to the Version contract deployed on Kovan at the address to be announced on Monday.
- Winning Melon Managers are determined by their “sharePrice” (Melon’s chosen fund performance metric). Share price is determined by calling the function “performCalculations” on the deployed Melon fund of the Melon Manager on the Kovan network.
- The competition will end on Friday at noon (12:00) CET. At that point, Melonport will look up all Melon fund performances as per the CryptoCompare price feed and evaluate the top 3 performers. In the event that there are more than three winners, more t-shirt prizes will be awarded.
More information including terms and agreements are available from the competition notice.
