Joining a Tournament
- Make sure you are signed in via compatible Tron wallet and verified. If you are then you will automatically be directed to your SmashBoard.
- Navigate to the “Public Tournaments” table on your SmashBoard or the “Join Tournament” dropdown menu in the Tournaments header
- In the Public Tournaments table click on JOIN
These are tournaments hosted by the Smash Team. They are seeded with SMASH that comes from the tournament wallet. This means that their prize pool is equal to:
- seed amount + entry fees & buy backs
Aside from daily allowance, this is the only way that new SMASH is created. To learn more about SMASH, click here
Any user can create their own public tournaments with custom rules. The creator can define several parameters such as the start and end time, the entry fee, how many buy backs (same price as entry fee per buy back) and may choose to seed the prize pool with their own SMASH (not a requirement). Read carefully through the settings of a public tournament before joining, since they may be different from the default settings of Smash Tournaments.
These tournaments have the same customization options as the public tournaments, however require an email invite from the creator to participate. As soon as you are invited by email and accept, you will see the tournament appear in the ‘Join Tournament’ table on your SmashBoard. The creator can invite additional people by navigating to “Tournament Options” dropdown on the main menu.
Each user is given a selected amount of virtual fiat (ie. USD) at the beginning of the tournament. The amount is based on what the tournament creator chooses. For Smash Tournaments the value will always be $10,000 USD.
Your objective is to gain as much fiat value as you can within the tournament’s duration. Gain fiat value by making successful trades.
How to Trade
- Start by deciding which crypto you would like to trade. Use the search bar or scroll through the list of crypto currencies and select (BTC, ETH, etc)
- You will see the Name, Symbol and current price of the selected crypto appear in the order panel.
- You will see two tabs that read ‘Market Order’ and ‘Limit Order’. By selecting ‘Market Order’ you are choosing to open your position at the current price. Choosing ‘Limit Order’ lets you input a price and the position will only open if the crypto reaches the price you chose.
- Once you have chosen Limit or Market order, you have to decide whether you think your chosen crypto will increase in value or decrease in value. If you think it will increase, you want to open a Long position by selecting Buy/Long. If you think it will decrease, you want to open a Short position by selecting Short/Sell.
- The next step is to choose your leverage (if enabled in the tournament settings). By default, the leverage will be set to 1x. This is the safest option, but also yields the least profits. The more confident you are in your position, the higher you want to set your leverage. Notice that when you move the leverage slider, your ‘Bankruptcy Price’ also moves. If the bankruptcy price is reached on a position, that position is bankrupted and you lose your tournament money. The higher the leverage you choose, the closer the bankruptcy price will be to the current price.
- Once leverage is selected, you can decide how much of your virtual fiat you want to place in that position. You can do this a few ways:
- By using the ‘Wallet Percentage’ slider
- Entering the notional value (value of position after leverage is applied)
- Entering the quantity of the crypto
Now you are ready to place your order!
- If you placed a ‘Market Order’ it will show up in the ‘Active Positions’ table. If you used ‘Limit Order’ your order will appear in ‘Unfilled Position’ until the crypto reaches your ‘Limit Price’ or entry price. Once it reaches that price, the position will be moved the ‘Active Positions’ table.
- In your ‘Active Positions’ you can view the status of your all opened positions. At any point you may close the position by using the ‘Market Close’. This close your position at the current market price and will credit your wallet with the amount shown in the ‘Profit/Loss’. If it is a negative number you will lose that amount by closing the position. You may also choose to ‘Limit Close’ a position. This lets you choose a price that your position will automatically close at. (Similar to Limit Order!) If it reaches this price, your position will close and your wallet will be credited with the value of your ‘Profit Loss’