Trading competitions

MatchTrade allows for the creation of peer-to-peer trading competitions between two players.

Here's how the flow goes:

A user creates a competition by depositing some ETH into the contract. They also select a time limit for the competition to last, as well as select what metric they want to measure.
Another user accepts this transaction by equally depositing the same amount of ETH deposited by the creator. They are now matched and the competition begins instantly.
They both can now trade against each other to try and win based on the measured metric before the time runs out.
Whoever has the larger amount of the measured metric wins and can withdraw 95% of the deposited funds for that competition.

There are some nuances which include

A user's competition may not be accepted by anyone for a variety of reasons. In this case, the user can either wait for the competition's time limit to be completed, or they can cancel the competition and withdraw their deposited funds.
A user can cancel a competition before the time runs out if they're losing. However, they will be fined 5% of their deposit which goes to the other player that didn't cancel.
If the matchup ends in a draw, both players can withdraw their funds with no fees charged.
Competition entries are only valid if the trades are made on MatchTrade's DEX platform.

Last updated 1 year ago

MatchTrade allows for the creation of peer-to-peer trading competitions between two players.

Here's how the flow goes:

A user creates a competition by depositing some ETH into the contract. They also select a time limit for the competition to last, as well as select what metric they want to measure.
Another user accepts this transaction by equally depositing the same amount of ETH deposited by the creator. They are now matched and the competition begins instantly.
They both can now trade against each other to try and win based on the measured metric before the time runs out.
Whoever has the larger amount of the measured metric wins and can withdraw 95% of the deposited funds for that competition.

There are some nuances which include

A user's competition may not be accepted by anyone for a variety of reasons. In this case, the user can either wait for the competition's time limit to be completed, or they can cancel the competition and withdraw their deposited funds.
A user can cancel a competition before the time runs out if they're losing. However, they will be fined 5% of their deposit which goes to the other player that didn't cancel.
If the matchup ends in a draw, both players can withdraw their funds with no fees charged.
Competition entries are only valid if the trades are made on MatchTrade's DEX platform.

Last updated 1 year ago