It has been a long time since the last ADDAX trading game was running. During that time we have seen ONECENT come to an end and the TULIP Mania Game run another successful round. As the ADDAX market is fairly clear from holders of tokens from previous rounds, it is a good time to restart it. ADDAX Round 2 closed with an average [profit of 55.3%](https://steemit.com/money/@addax/addax-trading-game-round-2-report-cashing-out-nearly-over-55-in-28-days-day-whatever-of-28), and the recent TULIP Round 3 game finished with a [healthy 43.5% profit](https://steemit.com/hive-177956/@busbecq/the-tulip-mania-game-round-3-news-payouts-completed-round-4-coming-soon) - both of them after just 28 days. The way TULIP Round 3 started seemed to have been successful, so we shall repeat the same process. Please read the rules below carefully so that you can get the best average price near the start. https://i.imgur.com/8Hdodxf.jpg **The ADDAX Round 3 Game starts on Tuesday 17 March at 14:00 UTC and lasts for 28 days.** ### What is the ADDAX Game? The ADDAX token is a game token; it allows players to participate in the ADDAX Game. The game was designed as a strategic trading game but has been largely used as a short-term buy-and-hold investment in the token price. The ADDAX game is completely asset-backed by the initial token sales and the profits are paid out to the token-holders at the end of each round by buying back the tokens at a higher price. The ADDAX game works on a *cash basis*, meaning that profits are calculated based on the cash value of all holdings and income, and those profits are paid out through the price of the ADDAX token. This Round 3 will last 28 days. At the end of that period, a final token price will be published and all token-holders may sell back their tokens to the game master account. Players may obviously buy and sell their tokens at market prices throughout the game period. The cash basis accounting means that it is possible for a player to have made a cash profit but still be holding tokens. This is part of the game and it is up to each player to have their own strategy about when to buy and sell tokens. All tokens remain the property of the token-holder and may be used in the next round. https://i.imgur.com/8Hdodxf.jpg ### Rules for the ADDAX Game Round 3 The ADDAX Game Round 3 officially starts at 14:00 UTC on Tuesday, 17 March, 2020, and will last 28 days. The ADDAX Game thus ends at the same time on Tuesday, 14 April, 2020. A final closing ADDAX price will be posted the following day and all remaining funds will be paid out through ADDAX token buy-backs during the week after the game ends. The ADDAX tokens can already be purchased on the [ADDAX market](https://steem-engine.com/?p=market&t=ADDAX) and the lowest pre-start price is 0.05 STEEM per token. You can see that the token distribution has already been set up and ready to go! At the official start time, there will be a quick Dutch Auction with new tokens priced from 0.09 STEEM down to 0.01 STEEM. They will follow the same distribution as currently shown on the market and will go down to just 100 tokens at 0.01 STEEM. This will help some players pick up some very cheap tokens but the numbers available will not hugely distort the mathematical structure of the distribution. Such tokens are already available down to 5 STEEM cents but at the launch will go down to just 1 cent. The ADDAX Game fund starts earning from the official start time. Posts will be published daily to update players on the value of the fund and an estimate of the asset backed value (ABV). A reminder that because this game now runs on a cash-basis instead of the old token-basis, such ABV is indicative only and can fluctuate due to trading activity. The game master account, @addax, has administrative tasks such as posting and managing the fund, but is not allowed to actively intervene in the trading of TULIP tokens. The management fee for the game will be 1,000 ADDAX tokens paid for at the starting price of 1 cent. They are paid for so as not to distort the game. The @addax account will start the game with some holdings, such as SP. These will be posted before the game starts and are not part of this Round 3 game. However, they do help in increasing profits for the fund. This ADDAX Game runs for 4 weeks; the first 3 weeks will be dedicated to making profits for the fund, and the final week will see the start of some buybacks placed onto the market. This eases the stress at the very end and allows some players to take early profits. All these numbers will be reflected in the daily updates. There will be 7 days dedicated to the cashing-out period after the game ends. After that time, the game is no longer obligated to buy back more tokens as all profits will be paid out by then. Those still holding ADDAX tokens can then keep them for the next game. https://i.imgur.com/8Hdodxf.jpg ### Some Extra Thoughts If this is the first time you have played ADDAX, then it is worth reading some past posts. It may also be useful to read how the most recent TULIP Game progressed by reading the posts by @Busbecq. I am obviously aware that the Steem blockchain and ecosystem are undergoing a time of uncertainties and fears. If this game is unable to complete its 28 days of trading, then the game will be terminated and any profits made up to that point will be distributed to all token-holders. We take a snapshot of all the holdings of every player once per day and store that data offline. If there are any temporary interruptions to the Steem blockchain or to Steem-Engine, then we may extend the game for any days missed. I hope none of these measures will be necessary. One final thought on the token price distribution. I have used this once before but the price on that occasion did not rise very high so that the full benefits of this mathematical sequence were not experienced. One interesting feature of this distribution is that as the price rises the average price converges to about 70-75% of the maximum price. A flat distribution, where each token price has the same number of tokens, has a mean of 50% of the maximum price sold. This means that the fund using this new distribution only needs to make about 33% profit in order to close at the maximum price. For example, if we reach the 0.80 STEEM tokens, the average will be about 0.56, hence the fund only needs to make an extra 24 STEEM cents per token. In contrast, a flat distribution would have a mean of 0.40 STEEM and the fund would have to double its money just to reach that 0.80 STEEM as the final closing price. The beauty of this is that the higher the price goes the easier it is to close at that price! Honestly, it's all in the mathematics! Any questions, please ask below. --- --- **Building Steem's Fintech** https://i.imgur.com/nmPqcIV.png [[BUY MAXUV](https://steem-engine.com/?p=market&t=MAXUV)] - [[READ MAXUV](https://steemit.com/@maxuv)] https://i.imgur.com/7HWN31y.jpg [[BUY MAPR](https://steem-engine.com/?p=market&t=MAPR)] - [[READ MAP REWARDER](https://steemit.com/@accelerator)] https://i.imgur.com/RTjV3DP.jpg [[BUY MAPXV](https://steem-engine.com/?p=market&t=MAPXV)] - [[READ MAPXV](https://steemit.com/@mapxv)] https://i.imgur.com/5DC5Tvs.jpg [[BUY MAPX](https://steem-engine.com/?p=market&t=MAPX)] - [[READ MAPX](https://steemit.com/@map10k)] **Plus Some Serious Funtech** ![](https://i.imgur.com/Oncj2FH.jpg) [ONECENT](https://steemit.com/@onecent): The First Strategic Token Investment Game (STIG) ![](https://i.imgur.com/8Hdodxf.jpg) [ADDAX](https://steemit.com/@addax) ![](https://i.imgur.com/9vqyH6T.jpg) [TULIP MANIA](https://steemit.com/@busbecq)