The first one is called GIG Small and it starts on 10 September. It consists of a 1-day tournament of 5 rounds lasting 1 hour in total. For an entry fee of only $10 you can win a single round and win $100, or you can win the whole tournament and win $1000. The full information is here.
The second one is GIG Big and the concept is similar, the difference being that it lasts half an hour longer while the prizes are bigger – winning a round nets you $250 while winning the tournament wins $2,500. Read the detailed information here.
Their “absolute hit”, however, is the NON-STOP tournament which basically contunues 24/7 until the prize money runs out!
Here’s an excerpt from their own site:
A FAIRY TALE – Wonderful World – is being prepared on the Goldchess website for chess players from all over the world. Currently Goldchess Instant Game – GIG Small is available /once a week, 5 rounds – 5 problems to solve, duration: 1 hour/, with an innovative feature named -Happy End- and a prize pool of $2,000 that can be won in an hour. A similar game is in the pipeline – a GIG BIG tournament with a prize pool of $5,000. We are also working on an absolute hit: a 5-round NON STOP tournament to be available 24/7 until we run out of money for prizes.