Outsmart the other players for fun and profit - SBI+ contest at end of post. @ONECENT is the steem-engine based token trading game where the stakes are real. We can use fancy words like game theory and I bet I’m not the only player with a spreadsheet but ultimately it’s a game of buying and selling while keeping track of the underlying fundamental value.
The rules are explained in this post. Basically, ONECENT tokens are released onto the market as many orders in a curve from 0.01 going to 1.00 STEEMP. Actually, STEEMP is just steem-engine’s STEEM PEG, so I’ll just call it STEEM for the rest of the article. When tokens are sold by the game account then that STEEM is held in an asset account. Anybody can buy and sell at any time on the steem-engine DEX market. The game ends the earliest of; no trades for 10 days or 200 days have passed since the game began. Asset backing ensures that the token always contains some value. The asset backed value (ABV) is currently about 0.087 STEEM. When the game ends, the game will buy back (via sell order on the DEX) at the ABV.
@ONECENT is the brainchild of maths genius and all-round great guy @rycharde. You might know him from the high-returning MAPR system and the stake for upvotes token MAPX (DEX). Solid guy.
Signalling
The main way of “communicating” with the game by orders in the order book on the distributed exchange. That’s very limited signals, but trading games are like that. You, smart reader, have already figured out that everything is on-chain and reckon you can do some whale-watching if only there was a list. Well, check the useful links below.
Strategy
The more tokens you hold, the more profitable strategies are open to you. Why is that? Well, you need tokens to signal and you might want to risk putting some strange signals on the markets. If you are a very small holder then it’s likely that your signals will not do much. Having said that, if you look at the size of the buy/sell orders, most of those are still very small, so holdings of a few STEEM can still have an effect.
Oh, read this post about strategy, and @josephsavage ‘s comment. Have a plan. Or don’t and help others profit.
Understanding some numbers
A tiny bit of math will help you form your strategy and figure out where you stand. Here are some numbers to track:
Your average token price: total tokens ever held divided by the STEEM spent to get them.
Cost per token: (tokens held minus tokens sold) divided by (STEEM spent to buy minus STEEM received from sales).
You’re in profit when your cost per token price is under the asset-backed value, not when the average token price is under zero. Remember that the assets are distributed when the game ends. Some of you might want to track this:
Profit per token: asset-backed value minus cost per token.
Gross profit: profit per token multiplied by the current token balance
There are many ways to calculate gross profit. Just ensure that somewhere in your calculation chain the asset-backed value, sales cost, sales income and token balances are considered.
Useful link
The current list of token holders - some of you might want to do some whale watching using steemd. Yeah, all the signals are on the market but the order book doesn’t show who the orders are from and it might be profitable to know.
Thanks!
So I like to give out prizes. Contest open until this post pays out in seven days. Let’s go:
2 SBI @steembasicincome units and 1 staked MAPX token for the most insightful comment.
1 staked MAPX token (up to five total) for other insightful comments
Leave the MAPX tokens staked for free daily upvotes (and some ABV growth in MAPX).
Until next time.