The Official altilly.com Market-Maker Competition
This Competition Is Running
The altilly.com Market-Maker competition
Who can participate?
Any user of altilly.com can participate in this unique competition.. And the best part... Trading is not required!
What is this competition? What are the prizes?
The purpose of this competition is to help fill-up our order books. We have many markets and we are getting hundreds of new users every single day.... But what do these new users see when they come here? They see orderbooks which are thin. In order to get new users trading, they need to be able to see that there are other users they can trade with.
The prizes will come from all the trade fees we collect from 2019-06-01 00:00:00 UTC to 2019-06-30 23:59:59 UTC. 50% of them to be exact. We collect our fees in the following currencies: BTC, BCH, ETH, USDT, LTC, ARK, XQR, & DOGE. For the 30 days this competition is running, we will set aside 50% of all the trade fees. We will also show what has been collected on the competition page and place them aside for the final reward.
How are points calculated and how do you get them?
Easy. There are 2 ways to get points.
1 Create market orders in the order books. These are orders that are placed onto the books that are not expected to immediately trade - but they do help to fill the orderbooks. Every day, we will review the pending orders you have and you will receive points based on the total value of the order at last trade price - The order must be active for a minimum of 24 hours to receive ponts. So, for example, if you placed an order in the BTC/USDT market to buy 1 BTC at $8000 USDT, and the last trade price in that market was $8500 USDT, then that order would have a total "competition value" of $8500. You will get points at a 1:100 ratio, meaning in this example you would recieve 85 points on that day for that order. This works for any order you have that is active and 24 hours old or older, this includes any active orders you have created before the competition start date. Sell orders will always counted at Quantity * Last Trade Price (Or in the last where last trade price exceeds 2 * Best Sell Price, we will use the Best Sell Price). Buy orders priced below 80% of last trade price will be counted as Quantity * Order Price - if the buy order price is above 80% of the last trade price, then it will be counted at Quantity * Last Trade Price. For all point calculations, we will use the USD value of the total
Data update frequency: 1 time per day
Note: To account for very large out of bounds orders (ie, large quantities priced so they will never be taken), we will enforce a maximum number of points you can receive for each order. The normal maximum points per order is 200 points. If your order price is outside of the bounds of 50% - 200% of last trade price, then maximum points for that order is 100 points. If your order is outside the bounds of 20% - 500% of the last order price, then maximum points for that order is 50 points.
2 Market maker trades. These are trades where you receive the market maker bonus (it shows as a negative fee in your trade history). If you have an open market maker order (an order that is showing in the order books) - and somebody buys or sells into your order, then you will get points for that completed trade at a 1:100 ratio of the order total usd value. For example, if you had a 1 BTC buy order at $8000, and somebody later sold you that 1 BTC, then you would get 80 points for that trade -- the user who sold you the 1 BTC would not get any points as they are a market 'taker' in this example. If you make a trade that takes away an order from the order books (a taker trade), then you will not receive points for that trade. Wash trades will not be counted -- these are trades you make to yourself or with another user for the purpose of only gaining points.
Data update frequency: 1 time per hour
When do the prizes get paid?
Prizes will be calculated and paid out the first week of July, 2019.
What is the overall goal of this competition? What do we expect to see?
Here is what we expect to happen: As new users signup, they will no longer see thin order books. This will make them more comfortable trading on altilly.com. As more new users trade, our overall volume will increase. An increase in exchange volume will attract even more new users. As our volume increases during this period, so will the collected fees and prize pool for this competition. It's a Win-Win for everybody.
Can altilly afford this?
Absolutely. altilly.com can afford to operate at a loss for quite some time. If we can acheive our goals during this period, then altilly will be a very active exchange in 2019. We would like to have 100,000 users and over $1M in daily volume by the end of 2019 - which is a very conservative goal.
What are the prize tiers?
|1st Place||15% of prize pool + Share of special XQR prize|
|2nd Place||10% of prize pool + Share of special XQR prize|
|3rd Place||6% of prize pool + Share of special XQR prize|
|4th - 10th Place||3.5% of prize pool each + Share of special XQR prize|
|11th - 20th Place||2.5% of prize pool each + Share of special XQR prize|
|21th - 30th Place||1.5% of prize pool each + Share of special XQR prize|
|31th - 50th Place||0.4% of prize pool each + Share of special XQR prize|
|51th - ∞||Share of special XQR prize|
Competition Period: 2019-06-01 00:00:00 UTC 2019-06-30 23:59:59 UTCThis information updates once every 30 minutes
|78||Mohamed zizo||5.14239169 Points|
Accumulated Prize Pool Totals
|Coin Code||Coin Name||Total|