Lykke and Melonport offer cash prizes to bring Alpha Engine to Melon protocol
Lykke and Melonport, a fast-rising designer of blockchain software, 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 winner will receive a cash award of $4000 in addition to full funding for the proposed project. Three runners-up will receive $1500 each.
“Teaming up with Melon makes perfect sense for us,” said Richard Olsen, Lykke founder and CEO. “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 word melon comes from the Greek, meaning ‘destined to be,’” added Mona El Isa, CEO and co-founder of Melonport. “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.”
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.
Melon blockchain software enables users to set up, manage, and invest in digital assets according to a predefined, customizable set of characteristics.
The contest is running on Lykke Streams, Lykke’s own crowdsourcing platform.
Interested participants should review the complete description of the project and register.
Melonport seeks to enable digital asset management through multichain-capable software that emphasizes ease of use, both for the fund manager as well as the investor.
For more information, visit https://melonport.com.