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Hummingbot Blog

Introducing the Hummingbot Governance Token: HBOT

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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.

Introducing the Hummingbot Foundation

Hummingbot Foundation is a new experimental organization that will coordinate the ongoing maintenance and improvement of Hummingbot via a decentralized set of actors.

Summary

  • 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
  • Launch sponsors include leading blockchain protocols such as Harmony, Avalanche, Terra, Polygon, and Kava
  • Launch contributions from long-time community members include a new triangular arbitrage strategy, TradingView webhooks, and a web GUI for Hummingbot
  • Because Foundation will earn income from existing exchange fee share agreements and administering bounties, it is expected to be self-sustainable at inception
  • The Foundation is intended to represent a new experiment in decentralized governance that will set a template for other open source projects to follow

Hummingbot Roadmap - Q2 2021

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Two years ago, we decided to open source the technology stack that powered our quant hedge fund and launch Hummingbot. Back then, everyone thought we were crazy, stupid, or both.

Today, Hummingbot has become the leading open source trading bot project in crypto, with 12,000+ Discord community members, 1,700+ stars, 700+ forks, and 80 contributors. With integrations to 20+ exchanges and an expanding list of protocols, Hummingbot helps both individual and professional quant traders all over the world skip the low-level drudgery of building and maintaining integrations to centralized and decentralized exchanges alike.

Open DeFi Hackathon - Join the Hunt for Hummingbot Bounties

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Hello Hummingbot Community Developers!

Today we are happy to announce that we will be part of the upcoming Open Defi Hackathon in May!

What is Open Defi?

The Open Defi Network is “a global initiative to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchains.”

As a part of the cryptocurrency space, we strongly believe in the power of decentralization and community-driven projects.

Introducing the Perpetual Protocol Connector and Strategy

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We're thrilled to announce a new partnership with Perpetual Protocol, an Ethereum-based decentralized exchange of perpetual contracts for any asset. With this partnership, Hummingbot users will be able to earn arbitrage profits from reconciling price differences between Perpetual markets and spot markets.

The Perp connector is included with the v0.37.0 release of Hummingbot that will be shipped on March 8, 2021, along with a new perpetual-to-spot arbitrage strategy.

Since we launched the perpetual market making strategy, a new strategy to exploit arbitrage profits between perpetual and spot markets has been highly requested by our community. This new strategy allows users to arbitrage price differences between the perpetual contracts exchanges, such as perp.exchange powered by Perpetual Protocol and Binance Futures, and other Hummingbot supported spot exchanges such as Binance, Coinbase Pro, and Huobi.

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!

Interview with Liquidity Miner MrBig

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During the past nine months since we launched liquidity mining, we witnessed great participation from our ever-increasing miner community. Together, we’ve reached one milestone after another. In this post, we introduce one of our top liquidity miners, MrBig1964, to you. Hope you can learn something from him!

MrBig1964 is one of our Eagle Club members, who has been trading cryptocurrency and Forex for years. In his interview, he emphasizes the compounding effect of daily small profits (0.6-0.7% in his case) and suggests fellow traders do stay calm and do not be greedy.

Disclaimer: Not financial advice. All views expressed in this interview are the interviewee’s and do not represent the opinions of hummingbot.io. Hummingbot does not guarantee nor claim to guarantee profits.

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.

Partnering with Balancer

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We're incredibly excited to announce a new partnership with Balancer, a leading Ethereum decentralized exchange, that allows Hummingbot users to earn arbitage profits from reconciling differences between Balancer and other exchanges.

The Balancer connector is included with the v0.33 release of Hummingbot that ships today, along with a new amm-arb strategy.

This new strategy allows allows users to arbitrage price differences between automatic market maker (AMM) protocols like Balancer and other Hummingbot supported exchanges such as Binance, Coinbase Pro, and Huobi.

Scaling the Hummingbot developer community

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From the beginning, we conceived of Hummingbot as a shared public utility: an open source project that helps you create trading bots on any crypto exchange without having to write low-level integrations to exchange APIs.

We knew that we would have to create the first few exchange integrations, but we hoped that over time, the open source nature of the Hummingbot codebase would allow others to contribute their own exchange connectors and strategies.

Since we launched last year, 58 unique developers have contributed to the open source Hummingbot codebase. But we’re also aware we should be doing more to support the many developers, both professional and individuals, who want to customize Hummingbot for their own needs and contribute to the open source codebase.