In October 2024, the Hummingbot community approved HGP-64, which authorized an experiment for the Foundation to re-purchase HBOT tokens using fee share revenues earned from our partnership with OKX. Today, we're excited to announce the launch of a new HBOT Purchases tab in the HBOT Tracker that will transparently track these purchases.
We're excited to announce the launch of our new Affiliate Program, allowing Hummingbot users to earn rebates on their trading fees while supporting the Foundation's work.
In our ongoing efforts to create value for the Hummingbot community, we've partnered with several leading cryptocurrency exchanges to offer fee rebates to our users. This program not only helps reduce your trading costs but also supports the continued development and maintenance of the Hummingbot open-source project.
We're thrilled to introduce the brand-new dYdX V4 connector in the Hummingbot v2.0.1 release! This update integrates Hummingbot with the dYdX V4 Chain, enabling users to run advanced market-making and algo trading strategies on dYdX!
This release marks a significant milestone in the collaboration between the Hummingbot Foundation and the dYdX ecosystem. Earlier this year, we awarded a grant from the dYdX Grants Program to support the development of the dYdX V4 connector and to evangelize usage.
Today, Hummingbot is excited to announce the release of a new connector to the XRP Ledger (XRPL), available in the latest release 2.0. The XRP Ledger (XRPL) is a decentralized, layer 1 blockchain with reliability and stability proven for over a decade, trusted by businesses and builders globally for the efficient tokenization and exchange of crypto-native and real-world assets.
Hummingbot 2.0 introduces the highly-anticipated Dashboard, a new entry point that makes the platform more accessible and user-friendly. Dashboard allows users to easily create, backtest, and deploy their trading bots through an intuitive visual interface, streamlining the strategy configuration and bot management process and enhancing the overall user experience.
This new XRPL connector cements Hummingbot as the open source exchange API connector standard across both centralized and decentralized crypto exchanges. Hummingbot users can now leverage the robust and decentralized infrastructure of XRPL to enhance their crypto trading and market-making strategies.
"The integration of the XRP Ledger in Hummingbot v2.0 marks a significant milestone for our community," said Michael Feng, Board Member at Hummingbot Foundation. "XRPL's origins in cross-border settlement align perfectly with Hummingbot’s mission to empower market makers across the world with open source standard software."
The XRPL connector is designed to seamlessly integrate with Hummingbot, allowing users to take advantage of XRPL's fast transaction times and low fees. This integration will enable traders to execute strategies with greater precision and speed, optimizing their performance across various markets.
About Hummingbot
Hummingbot is an open-source software framework that helps users create and deploy crypto algo trading and market making bots. By integrating with various exchanges and blockchains, Hummingbot provides both individual and institutional users with powerful tools to automate operations. In the past year, Hummingbot users have used the software to generate $27 billion of trading volume across 200+ centralized and decentralized exchanges. Learn more at hummingbot.org.
About the XRP Ledger
The XRP Ledger (XRPL) is a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging crypto-native and real-world assets. Designed to support businesses and builders, it is powered by XRP, a cryptocurrency purpose-built for payments trusted by over 1,000 visionary builders and businesses worldwide. Learn more at XRPL.org.
Fourteen months have passed since the introduction of the Discord Support Program, an initiative designed to foster active involvement and collaborative problem-solving within the Hummingbot Discord community channels. This program has enabled the Foundation team to engage community developers and users in mutual support, freeing up our resources to focus on areas such as enhancing documentation, creating user guides, and improving the Hummingbot codebase.
But with the introduction of new Hummingbot features like Dashboard and V2 Strategies, newer members of our community have struggling to keep pace with troubleshooting and issue resolution. In response, the Foundation team has intensified its engagement with community members on Discord by answering questions. Moreover, we are committed to keeping our community members abreast of the newest Hummingbot developments on the roadmap, including the imminent launch of the Condor Telegram bot, custom screeners, and advanced AI capabilities.
In order to increase community participation in answering questions and making the program fairer and more transparent, we're excited to announce some changes to the Discord Support Program, such as the new Discord Leaderboard in HBOT Tracker!
In late 2021, Hummingbot Foundation was launched as an experimental decentralized autonomous organization (DAO) to build a self-sustainable, professional-grade, free and open source operating system for algo traders and market makers, owned by the community of HBOT token holders.
In an industry perceived by outsiders to be zero-sum and mercenary, Hummingbot aimed to prove that crypto algorithmic trading could be positive-sum, given the proper incentive structure. Our mission is to give everyone access to free tools and knowledge that help them make money by doing the same basic job, providing liquidity and making markets more efficient, as the world's most secretive, sophisticated quantitative hedge funds.
It's been a long road filled with landmines and near-misses (like FTX!), but Hummingbot Foundation expects to be economically sustainable going forward, thanks to our partnerships with leading exchanges and blockhain protocols. Economic viability allows the Foundation to focus on decentralizing governance and leveraging the community to expand the value of the Hummingbot codebase.
Vitally, the Foundation is also sustainable in large part due to Botcamp, an educational side business that the Foundation team started to train algo traders and market makers using Hummingbot.
Botcamp's signature product is a 5-week intensive bootcamp that teaches students how to help them build their own custom trading strategies. Since October 2022, Over 200 students across five cohorts have taken Botcamp, and many of the sample scripts in the open source Hummingbot repo were contributed by Botcamp students.
Today, we’re excited to formally announce Botcamp as a separate for-profit company that provides education and training programs for market makers and algorithmic traders using the open source Hummingbot software framework.
Botcamp's products include:
As 2023 winds to a close, reported volumes from Hummingbot clients have reached an all-time high of $140M per day. Widespread usage of Hummingbot across 114 exchange venues spanning both official releases and unofficial forks shows that Hummingbot is becoming the industry standard for market maker connectivity.
Since it has been two eventful years have passed since the inception of the Hummingbot Foundation and the issuance of the HBOT token, we wanted to update the original Hummingbot Foundation whitepaper. Specifically, this post has three objectives:
We are excited to formally introduce the V2 Strategy Framework! After months of testing by us and our community, we are confident that using this new framework to design and deploy strategies will improve your algo trading P&L!
V2 strategies bring unparalleled modularity, real-time adaptability, and backtesting capabilities to your trading arsenal, allowing you to design and deploy powerful, custom strategies with only a few tweaks to the template.
V2 Strategies marks a departure from the more rigid structure of V1 strategies. It's crafted to enable users to create powerful, custom strategies, even those who may not have extensive Python programming experience.
Key Features:
Update
Starting in August 2024, Hummingbot Foundation bounties will be paid in HBOT by default, unless contributors indicate a preference for USDC in their onboarding form. If users select USDC, a 10% processing fee will be applied.
Since the inception of the Hummingbot Foundation, we have paid out 282 bounties to 92 unique developer wallets. Bounties have been an unqualified success in leveraging the global developer community to maintain the Hummingbot codebase by fixing bugs and adding key components.
To continue on this path, we are excited to announce a new change to the Bounties process. Now, bounty recipients can choose whether to receive their payments in HBOT, our native governance token, or the USDC equivalent amount.
By allowing recipients to receive bounties in stablecoin if they wish, we aim to lower transaction fees while still enabling long-term supporters to accrue HBOT.
by Hummingbot Foundation
From the moment we open sourced Hummingbot as a CLI-based market making bot back in 2019, people have asked "wen GUI???"
While we knew that a graphical user interface would make Hummingbot more user-friendly, we chose to spend our limited resources on improving Hummingbot's exchange connectors and strategy template library.