This competition aims to enable users to test the Melon protocol in a safe environment with play money on the Kovan Ethereum testnet. It is the first of many, and prizes and scope of the competitions will grow as time goes on!
General Terms & Registration
This particular competition will run from noon (12:00) CET Monday 24th July 2017 until noon (12:00) CET Friday 28th July 2017. Participation will take place on http://melon.network/ — please do read through the information and watch the video below before you start!
- The competition itself will run on an early version (v0.2.0-alpha.3) of the Melon protocol which lives on top of the Ethereum Kovan test net.
- Participants will need to request Kovan Ether on Melonport’s Gitter if not provided with it automatically — https://gitter.im/melonproject/general
- The participation in the competition is free and open to everyone!
- Participants will need to provide an e-mail address for the first competition which will help us communicate with winners at the end of the competition.
- The email addresses will be linked to participants’ public address and fund names on the Kovan testnet but any record of these email addresses will be deleted at the end of the competition.
- Competing funds will be visible on the blockchain at all times as well as on the ranking board of the portal.
- For the first competition, prizes will be sent to the top three performing funds based on share price. The prizes will be Melonport t-shirts! There will be more competitions in the future, and as the underlying software continues to be developed, prizes will become more valuable and attractive.
- The purpose of the first competition is mainly testing for what is to come…
Terms for trading and where to begin
- Install Parity or Metamask and set up a fund. Instructions on how to do so can be found here.
- After having signed up, participants will receive Kovan test net Ether to compete in the competition. The Kovan test net Ether will be allocated to each participant. This will be considered the fund’s AUM (AUM = Assets Under Management).
- No trading can commence before the official start time of the competition (12:00 CET Monday 24th July 2017). Anyone who starts trading before, will not be included in the competition.
- Once the competition starts, the Melon managers can start trading — http://melon.network/
- For the purpose of this competition it is only possible to “take” orders on the order book. It is not possible to place or make an order on the order book. This is for security reasons.
- In order to be eligible for prizes, Melon Manager need to have setup a Melon fund linked to the Version contract deployed on Kovan at address to be announced on Monday.
- Winning Melon Managers are determined by their “sharePrice” (our chosen fund performance metric). Share price is determined by calling the function “performCalculations” on the deployed Melon fund of the Melon Manager on the Kovan network.
- The competition will end on Friday at noon (12:00) CET. At that point, Melonport will look up all Melon fund performances as per CryptoCompare price feed and evaluate the top 3 performers
- In the event that there are more than three winners, more t-shirt prizes will be awarded.
- We recommend those who haven’t used Melon before watch this brief tutorial video showing how to setup a fund:
Disagreements and Complaints
Any complaints or queries have to be sent via e-mail to firstname.lastname@example.org with the subject line “Melon Competition”. It is only through this avenue that the complaints will be accepted and resolved.
Complaints concerning the failure to conduct a trading operation in a contest account because of low internet connection quality (either on the side of the participant or on the side of Melonport’s hosting provider) are not accepted.
Complaints concerning disappeared or incorrect transactions due to failure of the system or similar are not accepted. This is early, early code!
Miscellaneous Legal Stuff
● It should be clear that all competitions are taking place on the Kovan Test Net with Kovan test Ether. No real money is at stake. Whilst the track records may be real, they are being monitored as “paper” portfolios.
● Do not send real Ether to the test contract!!! Melonport does not take responsibility for anyone sending real Ether to a test contract and claiming loss over it.
● Melonport retains the right to close or cancel the competition at any time because of unexpected or unusual circumstances.
● It is in the responsibility of any participant to make sure that their participation in the competition is in accordance with the respective laws of their country/region.
● It is the responsibility of any participant who has won any prize money to pay taxes on their winnings in accordance with the respective laws of their country/region (though for this competition, we don’t think you will need to pay tax on the t-shirt!).
● If for any reason the competition is terminated due to unforeseen circumstances before the official end date, the ranking of participants at the moment of termination of the competition will not be considered as the basis for establishing winners.
● In exceptional cases, where an appreciable error has occurred, the criteria for determining the winners of each round can be changed by Melonport.
● Melonport retains the right to change the competition rules if unforeseen circumstances should arise or if an obvious error has been found.
● The final results of completed rounds cannot be revised by Melonport.
● Melonport AG is not responsible for any loss or failure caused by taking part in this competition. Those taking part in the competition must realise that the assets, while tracking real asset prices, are not themselves real, or tied to any assets of real value.
● Any kind of partnership or cooperation between two or more participants is prohibited.
● Any kind of undue influence taking by any of the Kovan network authorities is prohibited.
● Participants are responsible to keep their login data secret.
● Melonport is entitled to exclude and/or disqualify participants from the competition particularly under the following circumstances:
→Participant breaches terms and conditions of Melonport set forth herein:
→Participant advertises one of Melonports competitors;
→Participant violates the principle of good faith.
● No cash disbursement and/or any replacement of the prizes is possible.
● By taking part in this competition the participant agrees to the terms and conditions of Melonport set forth herein.
● All disputes arising out of this agreement shall be resolved by Melonport in consideration of the “Terms of Business” and/or “Terms and Conditions” and common market practices.
● The courts of Zug, Switzerland, have exclusive jurisdiction on any disputes arising in relation to the competition. Applicable law is Swiss law.
No Data Collection
- Melonport may process participants’ data only with their consent. By signing up for the Melon Manager Competition, participants give their consent to Melonport to process their data in accordance with this policy.
- Melonport processes only the following data of participants: e-mail address. Participants’ data is processed for the sole purpose of being able to contact those participants who won a price.
- Melonport will not share participants’ data with any third parties and will delete the data after the competition.
If you have questions or want to receive further information, please contact us by e-mail at email@example.com, or write to us at Melonport, Lotenbach 7, 6318 Walchwil.