Intergalactic Stock Market (ISM)
SpaceRiders is a Play to Own and its economy is totally managed by you and the rest of the players, that is to say, we are a Player Driven Economy.
If you are playing SpaceRiders or are about to, we imagine you have used a trading platform at some point, such as Binance.
The operation of the Intergallactic Stock Market is the same.
Like any Free Market, the ISM is governed by the Law of Supply and Demand. Therefore, the price of each Resource is defined by its scarcity or abundance of sellers and buyers.
Each Planet has its own individual balance, i.e. if you have a Planet A selected and you want to buy 1000 Metal to use on Planet B, you will first have to select Planet B and then you can access the Intergallactic Stock Market to buy the 1000 Metal and use it on that Planet.
Within the ISM you have two different types of orders to buy and sell your assets.
- Market Order: Market orders are automatically executed at the best possible price. This type of operation does not guarantee a specific price to be executed, so they may be below or above the actual market price.
- Limit Order: Limit orders are executed at the best possible price and the set price of the order is the limit price that the user is willing to pay/receive for a trade.
As any Exchange Market, the use of the Intergallactic Stock Market is subject to commissions on each exchange. The percentage is the same for all users, as long as they do not acquire an advantage that allows them to reduce these fees. These fees are applied in both Resources and $BKM depending on the assets traded.
The magic of the ISM happens off-chain in order to avoid annoying fees associated with the use of the blockchain and improve the user experience. Therefore, to buy Resources with $BKM you must first deposit your $BKM in SpaceRiders, as explained in $BKM Deposits & Withdrawals.