It is an LPS coral (Large polyp stony) that looks surprisingly similar to an SPS coral at first glance.  

These corals do best in dimmer lighting, therefore lower in the tank is the best location for them. 

Chalice corals are found in a variety of different colourations, with most of them encrusting over the rocks work

This coral needs appropriate lighting and moderate flow to maintain optimum health.

In addition to this, it will also require the correct levels of Calcium, Alkalinity, and Magnesium along with various other trace elements found in natural seawater.

Additional feeding isn't required to maintain its health however it will feed on micro-plankton and very fine coral foods. 

Be sure not to place it too close to other corals as at night it will release its sweeper tentacles which are approximately 1cm long. 

Care Level - Moderate

Flow - Medium 

Lighting - Medium 

Temperament - Aggressive

 Frags of this coral are approximately 1inch

Due to variations within species, your item may not look identical to the image provided.