The best 10 solutions will receive a prize money of 2000,1000, 500, 250...250$

$2000
1stPrize
$1000
2ndPrize
$500
3rdPrize
$250
4-10 Prize
$250
2ndPrize
VOTING
  • 20.12.2017

The contest is finished You can help us determine the winners. Voting ends on December 20.

  • Submissions

    Nov 4 - Dec 17

  • Voting

    Dec 17 - Dec 20

Interest in cryptocurrencies for investment is rising and so is liquidity on crypto exchanges. Lykke wants to provide even more liquidity by being the first firm running its innovative market making a trading algorithm, called Alpha Engine (AE), across all crypto exchanges. To connect Alpha Engine to more crypto-exchanges across the globe, we want your help.

We are looking for ready connector solutions to the APIs of crypto-exchanges to deploy our successful trading algorithm across exchanges. Upon successful submission, you receive the prize money.

 

Alpha Engine description

Alpha Engine is a market making trading strategy based on the intrinsic time framework. The intrinsic time framework refers to a paradigm change of the way how time is looked upon. In intrinsic time, in contrast to the continuity of physical time, an activity based time scale is used. Now, only interactions, or events, let a system’s clock tick. This event-driven paradigm defines focal points by blurring out irrelevant details of the price evolution with the help of defining fixed event thresholds of different sizes. These focal points are then used by the Alpha Engine to place our market making orders into the market. To sum it up, our Alpha Engine is not only profitable but also provides liquidity to financial markets and does not have a priori restrictions on the number of assets that are managed.

Now you can be part of our mission to deploy liquidity across the globe and make financial markets more stable. Do you have an interest or even experience in connecting trading algorithms to exchanges? Do you enjoy working with APIs? Then this is your unique chance to work with Lykke.

 You can find out more about our innovative trading algorithm Alpha Engine (AE), developed by Anton Golub, James Glattfelder and Richard Olsen at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2951348.

We invite everyone to familiarise themselves with deploying trading algorithms on crypto exchanges and to deliver a working connector to the API of a crypto-exchange, so we can deploy our market making algorithm.

 

Requirements for the work

  • Please submit a working solution to connect our market making algorithm to a crypto-exchange. You can choose between the exchanges: Bitstamp, GDAX, Bitfinex, Kraken, Poloniex


Prize

The best 10 solutions will receive a prize money of 2000,1000, 500, 250...250$.

 

Support

Please refer to the Terms of Use for the organization and remuneration issues. If you have any questions, please feel free to ask them in the comments to the contest. 

 

A few disclaimers:

There is no guarantee of winning a prize. The prizes are only awarded to entries that the Lykke judges find worthwhile. Prizes are awarded in Lykke coins, which may be redeemed for currency and sent to your bank. You must be at least 18 years of age. You must not submit twice — your first submission is the one that counts. You will be responsible for declaring your own income to your local tax authorities. All submissions will be disclosed to the public. The prizes are given at Lykke’s sole discretion. The decisions of the judges will be final — there is no appeals process if your project does not win a prize. No other compensation will be given at this stage. 

Experts

AUTHOR Lykke co-founder and Chief Research Officer
Lykke co-founder and Chief Technical Officer
Lykke co-founder and and Chief Operations Officer
Lykke Chief Business Development Officer
Seamus Donoghue
Lykke Singapore Director
Username Registration date Result
November 19, 2017 08:18
November 18, 2017 11:21
November 30, 2017 10:41
November 21, 2017 08:48
November 20, 2017 03:50
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Arne E Postma · 05:22 PM November 30, 2017

Hi Iuliia, sorry for my late reply. I appreciate you answers and i will check the information you gave me. Thanks, Arne

Arne E Postma · 09:40 PM November 22, 2017

I posted some question about a month ago. It is closely related with the subject, market making in crypto s
As far as i understand Lykke is making markets in the listed products. Are there any other market makers in the listed products? If no, do you plan to offer a kind of market making program to new participants. If yes, what would be the terms and which software could be used to auto quote and hedge the different products on your platform. I also would like to know at which percentage rate trades will be cancelled, so for example 10%, 25% , in case of clearly erroneus trades. Last question, i understand that there was some spike in your price feed BTC/USD which caused the problems. So you use some price feed sources as an imput for delivering the bid and offers in the different products, correct? Why do not you use a price feed from several data feeds to calculate an average price for BTC/USD which you will use as an input in your auto quoting system.
In this specific stream you will make use of the alpha engine/ some counter trading bot. So in general it buys on weaknes and sells into strenght. This is different than most HFT trading companies are trading; they always place a bid and ask and ofset these trades in a diferent market to hedge price risk. So you ONLY earn from the spread! Please give your comments, thanks Arne

Iuliia Anferova moderator · 06:26 AM November 27, 2017

Dear Arne,
thank you for your interest!
As far as I understand Lykke is making markets in the listed products. Are there any other market makers in the listed products?
As for now, Lykke is the sole institutional market maker on the listed products on Lykke exchange. However, every customer can provide liquidity by placing limit orders into the market. Lykke exchange is open to every market maker who wants to provide its service on our platform to one or several our listed products. We have just launched a trading API in public https://www.lykke.com/lykke_api Now anyone can build a market-making also and plug it to Lykke.
In this specific stream, you will make use of the alpha engine/ some counter trading bot. So, in general, it buys on weakness and sells into strength. This is different than most HFT trading companies are trading; they always place a bid and ask and offset these trades in a different market to hedge price risk. So you ONLY earn from the spread!
Alpha Engine uses a market making trading strategy - balancing market exaggerations in both directions using stable repeating patterns of their length. The strategy is backed by theoretical as well as empirical proof.
This market making strategy has the benefit of not spreading stress from one market to the other.
Entry and exit points: The algorithm finds entry and exit points - dissecting the price curve with the help of thresholds.
Providing liquidity: Orders are placed into the market opposite to short-term trends thereby providing liquidity. Profitable through the existence of stable market laws (length of overshoots).
Risk mitigation: Early liquidity warnings, as well as continuous position monitoring, are used to adapt order sizes to current market situations

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