Melonport AG (“Melonport”) would like to invite you to take part at the Melon Manager Competition 2018! This competition aims to have users test the Melon protocol in a safe environment with play money on the Kovan testnet. The total prize pool of Melon tokens from this competition will be 550 MLN and will be gifted by Melonport AG.

IMPORTANT NOTICE: Up until the official start time of the competition, Melonport has the right to add, remove or ammend any last minute rules, terms or conditions. The final T&C will be the one that user digitally signs with private key during competition registration process.

GENERAL RULES OF THE COMPETITION

This competition will run for 14 days (from Wednesday January 31st 2018 until Wednesday 14th February 2018)

The competition itself will run on one of the latest versions of the Melon protocol (v0.6.4) which lives on the Ethereum Kovan testnet.

The front-end to this Melon protocol version can be accessed through http://melon.fund

The official start time of the competition will be Jan 31th 2018 at 12:00 CET.

of the competition will be Jan 31th 2018 at 12:00 CET. After this time users will be able to register their fund to participate in the competition using the link https://melon.fund. Provided they sign this document with their ethereum address, they haven’t already registered with this ethereum address and provided the fund trying to be registered hasn’t already been registered.

users will be able to register their fund to participate in the competition using the link https://melon.fund. Provided they sign this document with their ethereum address, they haven’t already registered with this ethereum address and provided the fund trying to be registered hasn’t already been registered. Only funds registered as above will be eligible for competition prize money.

Participants need to use the Ethereum mainnet to register their Melon funds for the competitions. In order to have stronger assurances that participants can provide us with an Ethereum mainnet address to which we can send potential MLN prize money. This mean also that there is a small gas cost involved in registering the Melon fund for competition on the mainnet. No other fees are required.

to register their Melon funds for the competitions. In order to have stronger assurances that participants can provide us with an Ethereum mainnet address to which we can send potential MLN prize money. This mean also that there is a small gas cost involved in registering the Melon fund for competition on the mainnet. Participants can request and receive K-Ether and K-Melon (Kovan testnet Ether and Melon) from the Melon faucet during the Melon fund creation process. This is available at https://faucet.melon.network. These tokens are required to begin trading using a Melon fund.

Trading before the official start time (see above) will lead to disqualification of the registered Melon fund.

(see above) will lead to disqualification of the registered Melon fund. The official end time of the competition will be Feb 14nd 2018 at 12:00 CET.

of the competition will be Feb 14nd 2018 at 12:00 CET. There is a hard limit of 10 000 funds coded into the smart contract for this competition, i.e. the first 10 000 funds that are created are eligible to participate in the competition.

The aim of the competition is to achieve the best share price possible by actively managing a test fund using v0.6.4 of the Melon protocol over the Kovan test net.

The test funds can only consist of managing positions between digital assets which are included in the Melon asset registrar contract.

The share price of a fund is derived by the sum of digital test assets in the fund, divided by the number of shares and quoted against K-MLN (Kovan testnet Melon token).

These assets are digital and in form of testnet/play money but derive their pretend value from a cryptocompare price sources brought to the test net.

As a reference, competing participant’s Melon fund share prices will be visible in the ranking page on http://melon.fund/#/ranking

For this competition, Melon fund share prices will be denominated in Melon token.

When participants create Melon funds and do not execute any trades, the default share price will be 1. If several Melon funds with a share price of 1 qualify for the top 100 funds, those with the earlier inception dates are ranked higher despite the same share price.

Prizes will be sent to the top 100 performing test funds based on the final Melon fund share price as per Melon protocol. The final share price is defined as the Melon share price at the official end time (see above). If your funds final share price is among the top 100 final share prices of registered funds in this competition, then your payout is determined by dividing your final share price by the sum of the top 100 final share prices of registered Melon funds times the total prize pool of Melon tokens as defined above. For this competition, the prizes will be crypto Melon (MLN) tokens. The following formula describes how prizes will be distributed;

where;

x=total prize pool of Melon tokens as defined above

i= a competition participant

W= set of best 100 participants according to final fund share price at the official end time (see above) of competition

spi=share price of participant’ s competition fund

fspi=final share price of participant i at the official end time (see above) end of the competition

TERMS AND CONDITIONS

THIS SOFTWARE IS INTENDED FOR TESTING PURPOSES ONLY.

It is intended to be used on the Kovan testnet and is by no means intended to be used on the main net. Never send assets or tokens of real value to a smart contract on the test net; they could be impossible to recover.

DO NOT SEND REAL ETHER OR VALUE TOKEN TO A SMART CONTRACT ON THE TESTNET.

User acknowledges that even though this competition registration is on the mainnet, that this competition is taking place on the Kovan testnet.

The User understands and accepts that this software is provided “as is” and any expressed or implied warranties of merchantability and fitness for a particular purpose are disclaimed. In no event shall Melonport AG or its Contributors be liable of any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, procurement of substitute goods or services; loss of use, data, or profits; or business interruption).

Neither Melonport AG nor its Contributors are liable for any damages, however caused and through any theory of liability, whether in contract, strict liability, or tort (including negligence or otherwise) arising in any way out of the use of this software, even if advised of the possibility of such damage.

THE USER UNDERSTANDS AND ACCEPTS THAT THE WINNERS AND PRIZES WILL BE DETERMINED AT FULL DISCRETION BY MELONPORT AG AND MELONPORT AG ALONE.

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 IPFS or 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.

Complaints around any potential server downtime will not be accepted.

Complaints around faucet temporarily running out of funds or any other technical inconsistencies for that matter will not be accepted.

Complaints concerning price feed inaccuracy or downtime will not be accepted.

Melonport retains the right to close or cancel the competition at any time because of unexpected or unusual circumstances.

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.

If for any reason the competition is terminated due to unforeseen circumstances before the official end date, Melonport reserves the right to cancel the paying out of prize money.

Melonport retains the right to change the competition rules if unforeseen circumstances should arise or if an obvious error has been found.

Melonport is entitled to exclude or disqualify any participants from the competition. For example under the following circumstances. Participant breaches terms and conditions of Melonport set forth herein. Participant violates the principle of good faith. Payout to participant not possible due to regulatory or other reasons.

PRIZES MAY BE CONDITIONAL ON COMPLETING AND PASSING A KYC/AML CHECK

The extent of the KYC/AML check will depend on the size of the prize and may vary accordingly. In such a case in order to claim your prize, you must email team@melonport.com with the subject “CLAIM PRIZE”. The email must include a copy of your passport and an indication of whether you represent a company or individual. Further information may be requested depending on the size of the prize.

Claiming prizes must occur within 30 days of the official end time of the competition. After this period, prizes will become void and Melonport will hold no responsibility or incur any liabilities for claims made after this time.

After this period, prizes will become void and Melonport will hold no responsibility or incur any liabilities for claims made after this time. Please note that the prizes will be paid out to the Ethereum mainnet address as specified in the competition registration process, once the KYC/AML check has been satisfied. Losing access to this Ethereum mainnet address in some form or another will lead to lost prize money.

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 and/or region.

It is the responsibility of any winner of any crypto Melon token(s) to declare the token received token correctly in his/her private and/or business tax declaration (based on actual situation, jurisdiction, etc).

GOVERNING LAW AND JURISDICTION

This Agreement, shall be governed by, interpreted and construed in accordance with the substantive laws of Switzerland. The competent courts of Zug, Switzerland, shall have exclusive jurisdiction for all disputes arising out of or in connection with this Agreement, subject to appeal, if any.

BY SIGNING THE HASH OF THIS DOCUMENT THE USER UNDERSTANDS AND ACCEPTS ALL THE TERMS AND CONDITIONS AS SET HEREIN.

This blog post is subject to change as the research & development phase is ongoing. Melonport will aim to update blog-posts regularly to represent our latest thinking on a best-efforts basis but there may occasionally be time-lags between latest thinking and updated documentation. With this in mind, the author of this blog assumes no responsibility or liability for any errors or omissions in the content of this blog.