ADDAX Trading Game Round 2 Starts in One Hour - Monday 23 September 2019
Just over an hour left before the ADDAX Round 2 trading game starts. A few minor issues I wanted to announce, plus the obvious reminder to those of you who wish to take part live.
So, ADDAX Round 2 will start on Monday 23 September 2019 at 16:00 UTC. The game will last for 28 days.
Nobody has asked any questions, so I assume the rules and instructions are crystal clear.
Free ADDAX Tokens
The free ADDAX tokens announced in the previous post will stop a few minutes before I finally complete the ADDAX trading room token distribution.
In the past it has caused some confusion giving out free tokens during the game, so this won't happen. Once the new ADDAX game has started there will be no new free tokens.
The ADDAX account
The profits from ADDAX Round 1 have been kept and powered up. This money is therefore not part of Round 2 and will not be paid out - it remains as capital to help manage upvoting and RC. This also means that when daily updates are posted with the ADDAX fund's asset value, again, this starting SP will not be included.
I just mention this point in case anybody in the future queries why the asset numbers seem lower than our voting SP. As rewards come in, some will be paid as SP, so there will be a rolling power-down just so that we can extract those rewards and use them in this Round 2.
The @ADDAX account
As in all our MAP FinTech trading games, the game account is not allowed to be an active participant in the game. Once @ADDAX has constructed the market token distribution, it is not allowed to create any further tokens and is not allowed to buy and sell tokens in the game. The only time it can trade is right at the end during the cashing out period for players where @ADDAX needs to buy back the tokens in exchange for STEEM (STEEMP).
The posting account will try to post daily updates with the most recent ABV to guide the market. If a day is missed, we shall attempt to at least leave a comment in the most recent post.
The ADDAX income strategy
Things have changed since the first ADDAX game - things have changed a lot. However, the experience we have of completing two of these games already (ADDAX and TULIP) means we have a fair strategy of how to make money quickly without having to either stake tokens or power-up STEEM; both of these are to be avoided as there is then no time to wait for those funds to be released again through unstaking.
A significant amount of income comes through post rewards, both author and curation, plus some trading of tokens that have useful spreads. Although we are fortunate to have loans of MAPXV and MAXUV tokens, we need to fund our own holdings in MAPX and MAPR. Using the buy-sell spreads can produce profits that are much higher than the underlying asset.
The Start of the ADDAX trading game
The first thing you will see is the very large sell-wall removed; it is just there to avoid disruptive agents. Then the final price-points will be created manually; this shouldn't take more than about 20 minutes. During this time you are all free to trade.
The token distribution can already be seen on the ADDAX market. This means anybody can calculate what the next price-points will be. There are no surprises, hence having a good strategy is key; this is true for the whole game.
We are not responsible for the way in which the Steem Engine DEX processes open orders as the sell prices decrease. We had the same scenario with the start of the TULIP Mania Game, and it is up to you to figure out how the DEX decides which trades are processed first.
I can't think of anything else, so Good Luck!
[BUY MAXUV] - [READ MAXUV]
[BUY MAPR] - [READ MAP REWARDER]
[BUY MAPXV] - [READ MAPXV]
ONECENT: The First Strategic Token Investment Game (STIG)
Here we go! Let the fun begin :)
Hi, hope you got some; been busy with other tokens since the dutch auction. Interesting to see that the highest bidders got most of the lots.
I think I was a little late but definitely got my share.
That's it folks! Game on!
All ADDAX tokens created. Glad to see a few people live during the Dutch auction. I also saw a few changes in buy orders.
Now it's accumulate and trade.
I will publish the first set of numbers tomorrow - in about 20 hours or so to let the game settle.
It would appear I grossly miscalculated my strategy and only ended up with 80 tokens. Whoops.
Yeah, something to bear in mind next game. Didn't happen before coz few ever bid higher than the bottom. The DEX processes the highest available open buy as the price drops.
One can check the SE explorer - I did list 1 cent tokens but they were bought for over 2 cents.
Still plenty of tokens left tho!
I thought more would be listed at each price. I tried to factor that in before deciding where yo drop my bids. Lesson learned and I'll be ready for the next game to start.
I think the next one will be a flat distribution, so every price has the same tokens. Not as interesting, but perhaps easier to trade the auction part.