Dexalot Discovery — Testnet Battle — DEXA vs. mAVAX
Another Dexalot Discovery Testnet Battle is brewing! Round 2 starts the second week of Feb 2022 and will be held on the Dexalot Testnet in an effort to stress-test Dexalot Discovery. This simulation and gaming event provides the broader Dexalot community with the means to understand and use the new token listing mechanism Dexalot will be integrating with Avalaunch. The Testnet Battle will also test, debug and adjust the parameters of Dexalot Discovery.
Similar price discovery implementations in classroom settings have shown several things. Users who interacted with such a simulation prior to real-time operation tend to create a more robust and repeatable price discovery process.
Hence…THE DEXALOT DISCOVERY TESTNET BATTLE.
Dexalot Discovery is a multi-modal software system that produces a highly transparent price listing mechanics for token price discovery. It utilizes a no-match auction period in which sellers and buyers of tokens can place and remove limit orders in full view of all. Please read the article Dexalot Discovery prior to playing the game to learn how the process works. The game will simulate this discovery mechanism through the buying and selling of the token pair DEXA/mAVAX during the auction period. Rewards will be given out to players who most accomplish the game objectives set for their assigned role. That role will be based on the token each participant is using.
This Dexalot Discovery Testnet Battle is structured with buyers purchasing DEXA and sellers offering DEXA for sale. This trade pair functions to effect a project’s token offering(DEXA), coupled with a counter asset(mAVAX), that is being used to purchase that token the project is offering. This means simply that a buyer’s objective is to buy DEXA and the seller’s objective is to sell DEXA.
The purpose of the game is both to simulate the actual situations in which price discovery will function, but also to help everyone who wishes to participate in a project’s actual implementation of Dexalot Price Discovery. This way you can learn how the process works as well as user interface functions, increasing user experience. Each player will be randomly assigned a role as either a buyer or a seller. After everyone has provided contact information during sign-up, each player will also be provided mock tokens to use and play with within the game. These tokens will appear in one’s Dexalot Testnet Portfolio and will be available at the start of the game.
Each week the gameplay, the number of players participating and the reward distribution will be adjusted based on the prior weeks’ outcomes, so stay tuned to Discord to keep up-to-date on the weekly changes.
This week the reward pool is 10,000 $ALOT.
The reward pool is equally divided between sellers and buyers.
A seller’s reward is weighted out of the total reward pool amount (50%) by the amount of mAVAX they collect over their initial 100 mAVAX.
A buyer’s reward is weighted out of the total reward pool amount (50%) by the amount of DEXA token they buy. Sellers will receive 10,000 DEXA and 100 mAVAX tokens and buyers will receive 100 mAVAX.
The game simulates the actual Dexalot Discovery mechanics of the no-match auction period. During this time, both the buyers and sellers may place or cancel as many limit orders as they wish. This time is followed by a closing period in which final orders can be placed. The game ends at this time, but in the actual implementations of Dexalot Discovery, there will be a listing period in which free trading of the tokens at the matched price commences and, after that, a time when the withdrawal of tokens is permitted. These additional steps will be simulated after the game. Game rewards only apply to activities during the auction no-match period.
Here are the steps:
2) Wait to receive a random player role assignment and mock tokens for gameplay,
3) Play the game — deposit your mock tokens & discover a price by buying or selling your tokens,
4) Qualify for a Dropalot reward within three months of the ALOT TGE (Token Generation Event) by having executed trades in the history with a matched price during the Testnet Battle according to the following: A seller’s reward is weighted out of 50% of the total reward pool(5,000 $ALOT) by the amount of mAVAX they each collect over their initial 100 mAVAX and a buyer’s reward is weighted out of 50% of the total reward pool(5,000 $ALOT) by the amount of DEXA token they each buy.
5) Continue to play after the auction period has ended by buying, selling and/or withdrawing your tokens. This step is not necessary to complete to receive awards but has been added to show how the actual process works.
If you have any questions anywhere along the way, bring them to Discord, and someone there will work with you to answer your questions.
Here’s what you need to do in order to play:
- Join Discord and then sign up.
- Next, you will need to have access to a portfolio on the Dexalot Testnet. Follow the Quickstart Guide or the steps described in The Dexalot Testnet and set one up. Join in the conversation in the Dexalot Discord #testnet-battle channel. Now, connect your Testnet portfolio’s C-chain wallet address you used when you set up and connect your Dexalot Testnet portfolio to Discord. You will do this by interacting with our Dexalot bot @ConnectsDisToDex. The details needed to accomplish this are listed below. You can also obtain help in the Dexalot Discord #testnet-battle channel.
ConnectsDisToDex is a simple Discord bot that links your Dexalot testnet C-chain wallet account address to Discord. Here is a list of commands you can use in private messages with the bot.
-Use !help to see this list
-Use !findme to start a private conversation with the bot
-Use !dexlink followed by your testnet account address to link your Discord and Dexalot portfolio. ( e.g. !dexlink 0xC094E8574aa55663384757e )
-Use !linkcheck to check if your accounts are linked
-Use !removeme to remove yourself from the competition
- Wait to receive a randomized player role assignment and mock tokens for gameplay. You will receive your mock tokens at your C-Chain wallet address. DEXA tokens will not be visible in your wallet.
During the game, your DEXA and mAVAX balances will be visible in the “Portfolio” tab’s three sections. If you receive DEXA, you are a seller and you sell DEXA. If you receive mAVAX, you are a buyer and you use that to buy DEXA.
- Deposit your tokens in your Testnet Portfolio and prepare for the battle. If you have questions about how to deposit, you can follow the instructions here.
Deposit your assets in your Portfolio on the Dexalot Testnet and be prepared to make a sell or a buy limit order.
Play the game — make your orders, watch the action, cancel and change your orders as many times as you like during the open no-match auction period. There is no option to withdraw your assets; your orders will not close as they normally do and there will be no orders in the Trade History section.
A Countdown clock will start at a time that will be announced in the Discord #testnet-battle channel. It will also appear on your Dexalot Testnet dashboard page. The game will end at a random time, any time after the countdown clock begins. You can still place limit orders after the countdown clock has started, provided the game has not ended. There is no determined time when this may happen after the countdown clock begins.
At the conclusion of the game, the listed limit orders will be matched and appear in the Trade History section. Matching concludes the game and all of the activities that are involved for rewarding players.
After this gameplay, live Testnet trading of DEXA and mAVAX will commence. Those whose orders did not match with others after the immediate end of the no-match period will have an opportunity to buy or sell tokens but at a different price than was arrived at during initial price discovery. And at some time after this, the withdrawal will be implemented. Have fun playing around with this as well.
- Join the conversation after each game on Discord to discuss the results.
- The whole system is designed to remove time pressure from people.
Let the games continue!!!!
Writer: Brad McFall
Graphics: Can Toygar
Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.