Lykke, a blockchain based marketplace, and Melonport, a creator of blockchain software for crypto-asset management today announced a joint competition to bring Lykke’s Alpha Engine to Melonport’s Melon protocol. Contestants will propose the underlying technology as well as a detailed implementation strategy for making the Alpha Engine Melon-compatible.
The Alpha Engine market-making algorithm considers event-based time, market overshoot patterns, cross-exchange arbitrage, early liquidity signaling, and inventory management to anticipate and address shortfalls in liquidity in crypto-markets.
The winner will receive a cash award of $1500 in addition to full funding for the proposed project. Three runners-up will receive $800 each.
“The word melon comes from the Greek, meaning ‘destined to be.’ That’s especially apt in this case. We’ve both worked to knock down barriers to entry, but in our individual ways, solving different parts of the same puzzle. Putting us together increases our impact. It’s not simple addition. It’s multiplication.”
Melon blockchain software enables users to set up, manage, and invest in digital assets according to a predefined, customizable set of characteristics.
“Teaming up with Melon makes perfect sense for us. One of our guiding principles at Lykke has been to make cryptocurrencies accessible to everyone, from an awareness perspective, a cost perspective, a security perspective, and so on. Take one look at what Melonport has been doing, and it’s clear that they believe the same.”
The contest is running on Lykke Streams, Lykke’s own crowdsourcing platform.
Interested participants should review the complete description of the project and register.