- Summary of previous 20 weeks of Global Traders Competition;
- New format for Global Traders Competition;
- Improvements of the Beta platform;
- Private Telegram chat for traders.
1. Summary of previous 22 weeks of Global Traders Competition
22 weeks ago, Membrana Blockchain Platform has launched the Global Traders Competition, where every crypto enthusiast have a chance to try his best with trading digital assets.Let me recall the rules: each week participants, who passed KYC procedure, receive $100 for trading via Membrana Trading Terminal and compete for a prize pool of $100,000. Also, all participants receive special tournament points, amount of which is based on their trading success. Subsequently, these points will be exchanged for Membrana tokens. For this community engagement Membrana reserved up to $800,000. Nice? Yeah.You can get all info here: membrana.io/competiton10 weeks ago we published article how Competitions lasts. So, let’s look for changes.
Since October traders amount have increased more than twice: from 97 traders to 225 now.
https://beta.membrana.io/leaderboard
Most profitable trader — TAONOW — generated 108% annually profit.We have counted: traders, who generate profit of 10% per month and compete more than 10 weeks could generate 56% profit per annual. It’s really amazing and confirms we are moving on the right path. On the other hand, we have like 80% of total traders amount, how brings losses in average.But more changes we get from the market. Bitcoin price falls from $6,500 to $3,200. And all this time our traders still compete by Membrana’s budget, all losses were covered by it.Time is come and we have to change the rules.
2. New format for Global Traders Competition
The main goal of Competition is to give successful traders an opportunity to gain profit with Membrana. To do this, we are able to focus on supporting traders, who already showed their skills: they will get increased contract amount for trading and respectively gain more profit. “Success” for trader is counted as average profit amount for the last 3 weeks in percents. You can see this new parameter in the Leaderboard: https://beta.membrana.io/leaderboardWe decided to save traders reward for contract management on the amazing hight level and now it is 50% against usual market condition, where trader get 20% reward from profit from trust management.
All changes are here:
- Total amount of places in the round depends of the total budget for Trust Management in the round and it is a $6500 for this step. It will be increased in the future, when traders will show better results.
- Each trader have his own rating of “success”, you can see this in the Leaderboard.
Count example for user “JIM321”: (10.7 + (-9.09) + 53.72) / 3 = 18.44 - For the first 10 places contract amount is increased: for 10th place $300, for first $1000 (all info see in schedule below):
Schedule for contract’s amount for round with trader’s rating above “0”
- New traders can get contract with $20 and “0” as a success rating. It means, what trader can’t get more than $20 for trust management until his rating above 0.
- Traders reward is 50% from profit. It will be transferred to trader’s ETH address until the next round ends.
- Trader, who wants to get contract in the next round, have to confirm this by pushing button in the Leaderboard. If you don’t confirm the participation, you skip next round.
- Stoploss settled to 10% (previous was 20%).
- All point are accrued the same way:
Points depending from places
3. Improves of the Beta platform
1) Hashlog
2) Conditional limit order
3) Notification system
4) Private Telegram chat for traders
1) Hashlog. What is it?
Part of Membranas’ Beta version: Hashlog
Membrana Blockchain Platform uses blockchain to validate traders’ activity. To do this, the hash sum of traders’ transactions for the day is saved in the Ethereum blockchain. The block, where the hash sum is saved, is dated and cannot be counterfeited; therefore, the validity of all data on traders’ activity of exchange is confirmed by their hash sum in the blockchain — in the block dated with the respective date of transaction. Thus, it is impossible to save only profitable transactions in the database and their hash sum externally as far as at the moment of saving, because it is not known which transactions are profitable.Hashlog available here: https://beta.membrana.io/hashlog
2) Conditional limit order
Before next round starts, we will implement conditional order for trading. It will be available in the Trading Terminal.
3) Notification system
This system will notify traders about system doings, like stop loss or other performs.
4) Private Telegram chat for traders
Before next round starts, we are able to add all traders to private telegram chat. Learning material and ideas will be posted there.We want to highlight the main idea — we are developing Membrana to gain profit together. This Competition is the next step for partnership between Membrana and Traders.
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(article since 28th of December 2018)