Per HGP-24, we have ended the HBOT delegation system
In Hummingbot Governance proposal HGP-24, Hummingbot Foundation proposed to terminate the HBOT delegation system that was initially created to allow locked-up token holders to be able to vote their tokens. Since the lockup period has expired and these token holders are able to release the tokens into their wallets, the delegation system is no longer needed to enable voting participation.
The Discord Support Program program was launched on December 12, 2022 with the aim to foster active participation and problem-solving among members in Discord channels. During its 7-week trial period, it was exhilarating to observe a significant number of users earning HBOT rewards for providing valuable responses to community questions.
The level of engagement and support demonstrated by the members was exceptional, and we are overjoyed to express our deep gratitude to our top three contributors: SoothsayerX, MementoMori, and random-dude, who served as inspiring models of devotion and commitment. We also recognize and extend our appreciation to other noteworthy contributors such as ctraderxt, hbminerfan, wojak, Lawnel, JOE, yancong, and Lazydayz137.
Over the 7-week trial period, the community generated a total of 618 responses, earning a combined total of 945 points and rewarding 350,000 HBOT as incentives. This is an outstanding achievement and we eagerly anticipate seeing more community engagement in the upcoming months as we progress on our technical and governance roadmaps throughout this year.
Hummingbot Foundation started conducting quarterly Polls to give HBOT holders a say in the allocation of the Foundation's engineering bandwidth and HBOT developer bounties across the various components of the Hummingbot codebase especially, which exchanges are included in the codebase, and how much maintenance effort we apply to each exchange.
Epoch 3 polls prioritizes maintenance of exchanges, strategies, and issues in the Hummingbot codebase
Recently, we finished the first set of Polls, a new initiative that lets HBOT holders decide how the Foundation allocates its engineering bandwidth and developer bounties across the components in the Hummingbot codebase. We believe regular Polls will ensure that we can continually improve the aspects of Hummingbot that are the most important to the community.
Below, we summarize the results of the Epoch 3 Polls and outline the changes we'll make over the next quarter.
Specifics on our governance roadmap for 2023, Epoch 2 retrospective, and Epoch 3 changes.
In our last governance post, we summarized Hummingbot Foundation's progress since we launched the HBOT governance token one year ago, as well as the lessons that we've learned about how to structure the governance process. In particular, the Foundations plans to start regular monthly Polls to allow HBOT users to decide how the scarce maintenance bandwidth would be allocated across various exchanges, strategies, and issues in the Hummingbot codebase.
As a follow-up, this post provides more specifics on our governance roadmap for 2023. This post also serves as the retrospective for Epoch 2 and outlines changes for Epoch 3.
This post provides a description of the technical changes that the Hummingbot Foundation plans to implement over the course of the next year. Note that these changes will be subject to HBOT governance and the approval of the Hummingbot community.
Almost exactly one year ago, Hummingbot Foundation launched the HBOT token as an experiment in decentralized governance over a publicly shared, community maintained open source project.
Inspired by Linux, we believe that a bazaar-style, distributed model of software development, powered by a decentralized, community-owned governance token, would allow us to maintain and grow a large, complex, open source codebase like Hummingbot.
Here are some of our proudest achievements over the past 12 months:
Executed 220+ governance proposals on our Snapshot governance portal, an average of 4.7 votes per proposal and a 92% acceptance rate. We believe this spread fairly represents what Hummingbot is today: an organic, global community of quant traders and developers who use different aspects of a shared, modular codebase.
Awarded more than 40 developer bounties to 20+ unique community developers for fixing bugs, adding new CEX/DEX connectors, strategies and other enhancements to the codebase (see HBOT Distributions in HBOT Tracker)
Held 23 weekly developer and community calls, with agendas and recording links posted in the pm repository
Launched the public Hummingbot Reported Volumes dashboard to report real-time aggregated volume metrics from Hummingbot users. Over the past 3 months, Hummingbot users have generated $6 billion in trade volume.
Last month, we partnered with Gate.io to organize a Trading Competition for the Hummingbot community. The goal was to conduct an experiment to see if these types of promotions would be mutually beneficial for the Hummingbot community and the exchange itself.
Here are the results of the competition, which ran for one month from October 10 to November 10:
HBOT Tokens empower holders to decide how the Hummingbot codebase changes over time through voting on proposals.
As announced in this October post, CoinAlpha has established the Hummingbot Foundation (the "Foundation"), a new, independent open source foundation that will enable a decentralized, community-led software development model for Hummingbot, an open source toolbox for building crypto trading bots.
Hummingbot is the leading open source crypto trading bot with connectors to 30+ exchanges and a 16k-strong global community of developers and traders
CoinAlpha, the company behind Hummingbot, plans to establish a new open source foundation to enable it to be maintained by its community, similar to the Linux Foundation
The Hummingbot Foundation is a new experimental organization that will coordinate the ongoing maintenance and improvement of Hummingbot via a decentralized set of actors: sponsors, contributors, maintainers, and users