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.

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.