ADDAX Trading Game Round 2 Starts Monday 23 September 2019

in game •  3 months ago  (edited)

It's been a while since ADDAX Round 1 finished. I have been waiting for the dust to settle on the recent hardfork. Although the Steem blockchain has yet to find a new steady-state, we do not foresee any further code changes that may disrupt the game.

So, ADDAX Round 2 will start on Monday 23 September 2019 at 16:00 UTC. The game will last for 28 days.

For those new to ADDAX and our other trading games such as ONECENT and TULIPS, here is a quick Q&A.

What is ADDAX?

ADDAX is a strategic trading game designed by the MAP FinTech project. The aim is to make a profit by buying and selling ADDAX tokens.

Some unique features make it different to other tokens. Firstly, the distribution is fixed at the start and no new tokens are created during the game. The funds from the sale of tokens are invested and generate income during the lifetime of the game. This means the average token value is higher at the end of the game than at the start. In theory, everybody could end up in profit; in practice, the amount of profits also depends on a player's trading skills - as well as our own.

How does the ADDAX game start?

If you look at the ADDAX market on Steem Engine, you will currently see one large sell-wall; this is just there to stop any disruptors. On the day before the start date, you will see the token distribution constructed above that sell-wall. You will therefore see the shape of the distribution and the price-points.

At the official start time, the rest of the distribution will be created, going all the way down to 1 STEEM cent (0.01 STEEM). This is very similar to the Dutch auction used in the TULIP game. Players can come in and buy at any price while the price-points are being created. Remember that no new tokens will be created once the whole distribution has been set up.

At that point, the huge sell-wall will be removed and players can trade freely.

Can I leave an open buy order?

Yes, if you are unable to be online at the start time you may leave open buy orders. Remember that the price-points will start at 1 cent and move up in steps of 1 cent.

We are not responsible for the order in which the Steem Engine DEX processes open orders, so it is your responsibility to ensure your desired price is achieved.

How do I make a profit?

Every day, the @ADDAX account publishes the value of the game fund and the asset backed value (ABV) of each token in play. This usually creates a spread of buy and sell orders either side of the ABV. One way to make a profit is to buy and sell across that spread.

Another, passive way, to make a profit is to buy as many ADDAX tokens as possible as cheaply as possible and then just wait till the end of the game! Just don't forget that there is an end after 28 days and all tokens need to be cashed out.

How does the ADDAX game fund make a profit?

The funds from the ADDAX token sales are invested in various other tokens or programs that will yield a high income. We now have experience of two such games closing: ADDAX Round 1 made a profit of 25.4% over 28 days; TULIP Mania Game Round 1 made a profit of 24.3% over 28 days.

Many individuals will have made much more than this, but these numbers show an average profit of about 0.8-0.9% per day. Much of this comes from post rewards but also from token trading within Steem Engine. As the ADDAX trading game only lasts 28 days, we shall not be powering up any SP as it will then be impossible to power it down again within the time-frame of the game.

What happens at the end of the ADDAX game?

The game lasts 28 whole days, so therefore will terminate on Day 29. At that point a final closing price will be published and players can sell their remaining tokens at that official price. This cashing out period should last no longer than 7 days as that also gives ADDAX time to convert fund holdings into liquid STEEMP.

Please note that once the official cashing out period has ended, anybody still holding tokens can either sell them at whatever price is still available on the market or can wait till the next round. Our promise to pay for ADDAX tokens at the closing price ends once the cashing out period ends.

Will there be some free ADDAX tokens?

Maybe, but not many. Players seem far more engaged with skin in the game.

Will there be a token buy-in?

No, this was an experiment done in ADDAX Round 1 and will not be repeated. The buy-in was complex and, I feel, caused the game to stall at that price. There will be no token buy-ins.

What one can do, is buy any of the current sell-wall. There is no way to stop that so, if you feel the token price will rise above the current sell-wall, then you are free to buy at that price.

I have a question!

I guess you'd better ask it in the comments. For those of you new to ADDAX, it really is worth looking at some of the posts published by @ONECENT, @Busbecq (as TULIP game master) and @ADDAX itself to see how such games progress.


Free ADDAX Tokens! [ALL GONE!]

As a prize to anybody who has actually read this far, we are giving away 10 ADDAX tokens to the first 10 people to ask for them! How easy is that?!



Building Steem's Fintech

[BUY MAXUV] - [READ MAXUV]

[BUY MAPR] - [READ MAP REWARDER]

[BUY MAPXV] - [READ MAPXV]

[BUY MAPX] - [READ MAPX]

Plus Some Serious Funtech

ONECENT: The First Strategic Token Investment Game (STIG)

ADDAX

TULIP MANIA

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If I counted correctly I'm still in the 1st 10?
I.e. Send some of those tokens please ;-)
Will go check it out later today when I'm near a PC and join too.

LOL. 11th!
I'll send you 10 if you resteem :-)

And then that's it - anybody who does want some free ADDAX tokens to start the new game should head over to our second post and follow the instructions there.

Deal

thanks, tokens sent!

I would like some tokens if they are available!

Posted using Partiko Android

Coming up! Enjoy the game.

Yes please to the free ADDAX tokens. I shall put in a modest buy order :)

ADDAX sent!

Free tokens? Yes please!
Curious how my order is going to be executed.
This launch is already exciting.

Posted using Partiko Android

Done!
Yeah, the price-points won't be as freaky as TULIP game :-)
The distribution in ADDAX Round 1 has an interesting property that we never discovered as the price got stuck at 5 cents. I'll describe it in tomorrow's post.

!BEER

View or trade BEER at steem-engine.



Hey @addax, here is a bit BEER for you. Enjoy it!

Give em tokens 😌

Done, ADDAX sent!

Tokens please! Should be another great round :)

Cheers, tokens sent!

Will the price start at 0.001 steemp? There was an order there so I have copied it. If it's different let me know and I will adjust it Ps will take some freebies in the meantime

Posted using Partiko Android

Will be 1 cent, so 0.01 steemp.

Cool ty

Posted using Partiko Android

I will take some and will be buying some too 👍

Posted using Partiko Android

Cool, the first one to be paying attention!
Good luck with it :-)

Tokens please

Posted using Partiko Android

ADDAX sent, good luck!

Give me free tokens please

Posted using Partiko Android

tokens sent!

Tokens please 😎

Done!

I've resteemed this post, please I need some of these token.

Please 👐