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  • in Miner
  • 9 min read

Hummingbot Miner: Year 1 Recap!

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Hummingbot Miner turns 1 year old!

The Hummingbot Miner platform has been live for one year! When we launched Hummingbot Miner on March 3, 2020, we kicked off a new and sustainable way for issuers to source liquidity for their tokens. It was a data-driven approach for rewarding a decentralized group of market makers for providing liquidity and harnessing the collective trading power of communities.

We are thrilled that over the past year, the platform has provided liquidity for 18 different token issuers, with 1,622 unique miners participating and earning rewards. Our decentralized market making community created order book depth and liquidity that resulted in $837mm of traded volume across the various liquidity mining campaigns!

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  • 4 min read

NEM Liquidity Mining Case Study

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Summary

Over the past few weeks, we have seen great participation from NEM liquidity miners and exceptional XEM token performance. With liquidity mining, NEM is able to introduce the project to a broader trader community and motivate individual traders to promote its token liquidity. During a little over 1 month of the liquidity mining campaign period, 142 distinct individuals have participated and earned rewards as of December 15th, 2020. They accounted for as much as 11% of total XEM trading volume on Binance, and as much as 50% for the XEMETH trading pairs.

This result has demonstrated Hummingbot liquidity mining’s ability to not only help long-tail token projects graduate from its league but also well serve and add great value to Top 20 projects like NEM. Both the Hummingbot and NEM communities feel excited about the result, and will continue working hard on the ongoing success of the campaign.

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  • 3 min read

Introducing the Eagle Club

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We are excited to announce that we are launching the Eagle Club, a VIP program for top liquidity miners today. The goal of the Club is to enhance the user experience of top performing miners and to provide dedicated support to help them trade more confidently and perform better.

Along with the launch of the Eagle Club, we have also rolled out a real-time leaderboard where miners can see how they rank versus other miners.

Qualification

The Eagle Club is invite-only. It’s not only a VIP program that Team Hummingbot will devote energy and time to, but also a close-knit community for experienced crypto traders to share their thoughts and obtain personalized support.

At the first month of launch, we will invite top 10 miners of each past week to the Club. Members who are qualified for the Club will be receiving an invitation email. Anyone who gets in will stay in the Club permanently. In the long term, we plan to invite approximately 10% of our total user base to the Club.

  • in Miner
  • 6 min read

🌊⛏ Liquidity Mining Launch!

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Today marks an important milestone for Hummingbot as we launch the first live campaigns for liquidity mining! The inaugural campaigns will last for a period of 12 weeks with a total reward pool of USDC 51,000.

The first four campaigns go live at 12.00am UTC March 3, 2020 for a subset of our launch partners:

  • Harmony
  • iExec
  • Zcoin
  • Zilliqa

These initial campaigns will reward participants for trading in eligible tokens on Binance.com. For up-to-date campaign terms and participation details, please go to the Hummingbot Miner's app or Documentation Site: Active Campaigns.

Rewards will be paid out weekly based on weekly periods beginning on Tuesdays 12.00am GMT through the following Tuesday.

Introducing Liquidity Mining: A Marketplace For Market Makers

  • Market making is a huge but inefficient industry in crypto. Exchanges and token issuers pay quantitative hedge funds millions of dollars per year to provide liquidity.
  • We introduce liquidity mining, a digital marketplace for liquidity, powered by the Hummingbot open source software that lets anyone run a market making bot (read the whitepaper).
  • Simulations show that users can earn 10-50% annually while providing the same level of liquidity as a hedge fund. This results in 5-10x cost savings for exchanges and token issuers.
  • We are excited to announce our 8 launch partners that represent a broad cross-section of the crypto market (centralized exchanges, DEX protocols, and token issuers) who will create liquidity mining campaigns that reward their communities for market making.
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  • 6 min read

Does Community-Based Market Making Work?

Analyzing 2 months of data from $ONE Makers

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Two months ago, in conjunction with our friends from Harmony Protocol, we started an experimental program called $ONE Makers to see if ordinary individuals using Hummingbot to run market making bots could effectively provide the same level of liquidity as professional market makers.

Both we and Harmony viewed $ONE Makers as an experiment. In particular, we wanted to answer the following questions:

  • Could people actually make money or would they get destroyed by more sophisticated players?
  • How many people are needed to effectively replace a professional market maker?

Read on and find out!

Introducing Harmony Liquidity Bounties

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A new approach to solving one of the biggest problems that face issuers of digital tokens: liquidity.

For the first Liquidity Bounty, we have partnered with our friends at Harmony Protocol, a Layer 1 blockchain project with key innovations in sharding and network transport, founded by a highly technical team from Google, Apple, and Amazon.