Epochs
The Hummingbot Foundation is an experiment in creating a self-sustainable open source ecosystem by distributing HBOT tokens to community developers who maintain the codebase.
We iterate to improve upon this distribution process via Epochs. Each Epoch is a quarterly period that are basically long agile sprints, after which the Foundation and the community may propose changes for the next Epoch.
Polls divide a fixed pool of HBOT between the connectors based on their pro-rata voting share. The Foundation assigns maintenance bounties to community developers for each connector using these amounts. See the Connector Pots tab in HBOT Tracker for the current allocations for each exchange.
Epoch 13 (Q3 2025)
CLOB CEX Connectors
Poll: HGP-71
| Rank |
Exchange |
Votes |
Share |
| 1 |
Binance |
11.1m |
10.25% |
| 2 |
Kucoin |
10.3m |
9.52% |
| 3 |
Bybit |
10m |
9.28% |
| 4 |
OKX |
9.8m |
9.05% |
| 5 |
Gate.io |
9.3m |
8.59% |
| 6 |
Bitrue |
8.5m |
7.86% |
| 7 |
MEXC |
8.5m |
7.86% |
| 8 |
Coinbase |
7.8m |
7.19% |
| 9 |
Kraken |
7.8m |
7.19% |
| 10 |
AscendEx |
5.3m |
4.95% |
| 11 |
Cube |
3.8m |
3.5% |
| 12 |
Bitmart |
3.8m |
3.5% |
| 13 |
Bitget |
3.1m |
2.91% |
| 14 |
Bitstamp |
3.1m |
2.91% |
| 15 |
HTX |
3.1m |
2.91% |
| 16 |
BingX |
1.4m |
1.25% |
| 17 |
BTC Markets |
740.2k |
0.69% |
| 18 |
NDAX |
639.3k |
0.59% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Binance, Kucoin, Bybit, OKX, Gate.io, Bitrue, MEXC, Coinbase, Kraken, AscendEx, Cube, Bitmart, Bitget, Bitstamp, HTX, BingX, BTC Markets, NDAX |
| ❌ |
|
CLOB DEX Connectors
Poll: HGP-72
| Rank |
Exchange |
Votes |
Share |
| 1 |
XRPL |
20.6m |
20.06% |
| 2 |
Hyperliquid |
15.5m |
15.1% |
| 3 |
Injective Helix |
15.5m |
15.1% |
| 4 |
Derive |
13.7m |
13.38% |
| 5 |
Dexalot |
13.1m |
12.76% |
| 6 |
dYdX |
13m |
12.66% |
| 7 |
Vertex |
11.2m |
10.94% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
XRPL, Hyperliquid, Injective Helix, Derive, Dexalot, dYdX, Vertex |
| ❌ |
|
Gateway DEX Connectors
Poll: HGP-73
| Rank |
Exchange |
Votes |
Share |
| 1 |
Jupiter |
14.6m |
14.28% |
| 2 |
Meteora |
14.6m |
14.28% |
| 3 |
Raydium |
13.9m |
13.62% |
| 4 |
Uniswap |
13.9m |
13.55% |
| 5 |
Pancakeswap |
13.4m |
13.09% |
| 6 |
Curve |
11.9m |
11.64% |
| 7 |
Trader Joe |
8.1m |
7.94% |
| 8 |
ETCSwap |
5.2m |
5.08% |
| 9 |
Balancer |
3.9m |
3.85% |
| 10 |
Quickswap |
1.5m |
1.44% |
| 11 |
Sushiswap |
1.3m |
1.22% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Jupiter, Meteora, Raydium, Uniswap, Pancakeswap, Curve, Trader Joe, ETCSwap, Balancer, Quickswap, Sushiswap |
| ❌ |
Carbon, Hydration/Polkadot |
Epoch 12 (Q2 2025)
Approved Governance Changes: HGP-70
The Foundation implemented three separate polls, one for each exchange type. To ensure room for new community-suggested exchanges while respecting the 20-choice limit, the following exchange removal conditions apply:
- If there are 20 choices in a Connector Poll, the 2 lowest ranking exchanges by vote will be removed in the following quarter
- If there are 19 choices in a Connector Poll, the lowest ranking exchange by vote will be removed in the following quarter
This system ensures at least 2 open slots in each exchange type for new additions every quarter. These removal conditions apply in addition to the current Minimum HBOT inclusion threshold (400K HBOT).
CEX Connectors
Poll: HGP-68
Quorum: 182%
| Rank |
Exchange |
Votes |
Share |
| 1 |
Binance |
10.3m |
11.24% |
| 2 |
Kucoin |
10.1m |
11.06% |
| 3 |
OKX |
7.4m |
8.09% |
| 4 |
Gate.io |
7.3m |
7.97% |
| 5 |
Bitmart |
6.8m |
7.5% |
| 6 |
HTX |
6.8m |
7.5% |
| 7 |
Bitrue |
6.5m |
7.17% |
| 8 |
Kraken |
6.3m |
6.86% |
| 9 |
Bybit |
5.6m |
6.1% |
| 10 |
MEXC |
5.2m |
5.74% |
| 11 |
Coinbase |
5m |
5.5% |
| 12 |
AscendEx |
4.9m |
5.34% |
| 13 |
Cube |
2.8m |
3.03% |
| 14 |
Bitstamp |
1.8m |
1.99% |
| 15 |
BingX |
1.3m |
1.37% |
| 16 |
Bitget |
1.2m |
1.36% |
| 17 |
NDAX |
1.2m |
1.36% |
| 18 |
BTC Markets |
740.2k |
0.81% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Binance, Kucoin, OKX, Gate.io, Bitmart, HTX, Bitrue, Kraken, Bybit, MEXC, Coinbase, AscendEx, Cube, Bitstamp, BingX, Bitget, NDAX, BTC Markets |
| ❌ |
Hashkey, Tegro |
CLOB DEX Connectors
Poll: HGP-69
| Rank |
Exchange |
Votes |
Share |
| 1 |
XRPL |
19.5m |
21.55% |
| 2 |
dYdX |
14.2m |
15.74% |
| 3 |
Derive |
14.2m |
15.7% |
| 4 |
Hyperliquid |
14.1m |
15.63% |
| 5 |
Dexalot |
9.9m |
10.97% |
| 6 |
Injective Helix |
9.7m |
10.78% |
| 7 |
Vertex |
8.7m |
9.64% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
XRPL, dYdX, Derive, Hyperliquid, Dexalot, Injective Helix, Vertex |
| ❌ |
|
Gateway DEX Connectors
Poll: HGP-70
| Rank |
Exchange |
Votes |
Share |
| 1 |
Raydium |
11.7m |
12.88% |
| 2 |
Uniswap |
11.6m |
12.79% |
| 3 |
Meteora |
11m |
12.12% |
| 4 |
Pancakeswap |
9.8m |
10.81% |
| 5 |
Trader Joe |
8.7m |
9.62% |
| 6 |
Balancer |
8.6m |
9.52% |
| 7 |
Curve |
8.6m |
9.52% |
| 8 |
Hydration/Polkadot |
6m |
6.58% |
| 9 |
Sushiswap |
5.6m |
6.2% |
| 10 |
Jupiter |
4.1m |
4.52% |
| 11 |
Carbon |
3.8m |
4.24% |
| 12 |
Quickswap |
688.6k |
0.76% |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Raydium, Uniswap, Meteora, Pancakeswap, Trader Joe, Balancer, Curve, Hydration/Polkadot, Sushiswap, Jupiter, Carbon, Quickswap |
| ❌ |
ETCSwap (400k votes - below threshold), Mad Meerkat, Osmosis/Osmosis, Spectrum/Ergo, Tinyman/Algorand, VVS |
Epoch 11 (Q1 2025)
Approved Governance Changes: HGP-50
CLOB Spot Connectors
Poll: HGP-65
| Rank |
Exchange |
| 1 |
XRPL |
| 2 |
Binance |
| 3 |
Gate.io |
| 4 |
Kucoin |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
XRPL, Binance, Gate.io, Kucoin, MEXC, Coinbase, Kraken, Ascend_ex, Injective v2, Bitrue, OKX, Bybit, Dexalot, Bitmart, Bitstamp, HTX, Cube, Vertex, NDAX, BTC Markets, Hashkey |
| ❌ |
Polkadex |
CLOB Perp Connectors
Poll: HGP-66
| Rank |
Exchange |
| 1 |
Kucoin Perpetual |
| 2 |
Binance Perpetual |
| 3 |
OKX Perpetual |
| 4 |
Bybit Perpetual |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Kucoin Perpetual, Binance Perpetual, OKX Perpetual, Bybit Perpetual, dYdX Perpetual, Hyperliquid Perpetual, Gate.io Perpetual, Bitget Perpetual, Injective Helix Perpetual, Hashkey Perpetual |
| ❌ |
|
AMM Connector Poll
Poll: HGP-67
| Rank |
Chain |
| 1 |
Uniswap |
| 2 |
Pancakeswap |
| 3 |
Balancer |
| 4 |
Curve |
| Inclusion Threshold Pass/Fail |
Chain Connector |
| ✅ |
Uniswap, Pancakeswap, Balancer, Curve, Sushiswap, Trader Joe, Quickswap, Mad Meerkat, Tinyman, VVS, Carbon |
| ❌ |
OpenOcean, Pangolin, XSSwap |
Epoch 10 (Q4 2024)
Approved Governance Changes: HGP-50
CLOB Spot Connectors
Poll: HGP-61
| Rank |
Exchange |
| 1 |
Coinbase |
| 2 |
Bybit |
| 3 |
XRPL |
| 4 |
Binance |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Coinbase, Bybit, XRPL, Binance, OKX, Gate.io, Polkadex, Bitrue, MEXC, Injective, Ascendex, HTX, Kucoin, BitMart, NDAX, Vertex, BTC Markets, Kraken, Dexalot, Bitstamp, Cube |
| ❌ |
Bitfinex, FoxBit |
CLOB Perp Connectors
Poll: HGP-62
| Rank |
Exchange |
| 1 |
Hyperliquid Perpetual |
| 2 |
Bybit Perpetual |
| 3 |
Binance Perpetual |
| 4 |
dYdX Perpetual |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Hyperliquid Perpetual, Bybit Perpetual, Binance Perpetual, dYdX Perpetual, OKX Perpetual, Injective Perpetual, Gate.io Perpetual, Bitget Perpetual, Kucoin Perpetual, Hashkey Perpetual |
| ❌ |
|
AMM Connector Poll
Poll: HGP-63
| Rank |
Chain |
| 1 |
Uniswap |
| 2 |
Curve |
| 3 |
Pancakeswap |
| 4 |
Tinyman |
| Inclusion Threshold Pass/Fail |
Chain Connector |
| ✅ |
Uniswap, Curve, Pancakeswap, Tinyman, Pangolin, Traderjoe, Mad Meerkat, VVS, Balancer, Sushiswap, Quickswap, OpenOcean, XSwap, Carbon, Plenty |
| ❌ |
Plenty |
Epoch 9 (Q3 2024)
Approved Governance Changes: HGP-50
CEX Connectors
Poll: HGP-58
| Rank |
Exchange |
| 1 |
Binance |
| 2 |
OKX |
| 3 |
Kucoin |
| 4 |
Coinbase |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Binance, OKX, Kucoin, Coinbase, FoxBit, Kraken, Ascendex, Gate.io, Bitrue, MEXC, Bybit, HTX, Cube Exchange, BitMart, BTC Markets, Bitget, NDAX, Bitfinex, Phemex |
| ❌ |
Bit.com, HitBTC |
DEX Connectors
Poll: HGP-59
| Rank |
Exchange |
| 1 |
Hyperliquid |
| 2 |
XRP Ledger |
| 3 |
Vega |
| 4 |
Balancer |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
Hyperliquid, XRP Ledger, Vega, Balancer, Uniswap, dYdX, Dexalot, Trader Joe, Pancakeswap, Polkadex, Curve, Osmosis, Injective Helix, Tinyman, Mad Meerkat, OpenOcean, Pangolin, Plenty, Ref, Vertex, VVS, XSwap, Quickswap, Sushiswap, Carbon, Perpetual Protocol |
| ❌ |
|
Chain Connectors
Poll: HGP-60
| Rank |
Chain |
| 1 |
XRP Ledger |
| 2 |
Ethereum |
| 3 |
Avalanche |
| 4 |
Injective |
| Inclusion Threshold Pass/Fail |
Chain Connector |
| ✅ |
XRP Ledger, Ethereum, Avalanche, Injective, BNB Chain, Algorand, Harmony, Tezos, XDC Chain, Kujira, Osmosis, Polygon, Cosmos, Cronos, NEAR |
| ❌ |
|
Epoch 8 (Q2 2024)
Approved Governance Changes: HGP-50
CEX Connectors
Poll: HGP-55
| Rank |
Exchange |
| 1 |
OKX |
| 2 |
Binance |
| 3 |
Coinbase |
| 4 |
Kraken |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
OKX, Binance, Kraken, Coinbase, Kucoin, AscendEx, Bybit, Bitmart, Gate.io, Bitrue, MEXC, Phemex, Foxbit, Huobi, Bit.com, BTC Markets, NDAX, Bitfinex, Bitget, HitBTC |
| ❌ |
|
DEX Connectors
Poll: HGP-56
| Rank |
Exchange |
| 1 |
XRP Ledger |
| 2 |
Uniswap |
| 3 |
dYdX |
| 4 |
Hyperliquid |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
dYdX, Uniswap, XRP Ledger, Hyperliquid, Dexalot, Pancakeswap, Curve, Tinyman, TraderJoe, Polkadex, Vega, Sushiswap, Carbon, Quickswap, Injective Helix, Osmosis, Mad Meerkat, Plenty, Ref, Vertex, VVS, XSwap, Perpetual Protocol, Pangolin, OpenOcean |
| ❌ |
Quipuswap |
Chain Connectors
Poll: HGP-57
| Rank |
Chain |
| 1 |
Ethereum |
| 2 |
XRP Ledger |
| 3 |
Polygon |
| 4 |
Injective |
| Inclusion Threshold Pass/Fail |
Chain Connector |
| ✅ |
Ethereum, XRP Ledger, Polygon, Injective, BNB Chain, Avalanche, Algorand, Cronos, Harmony, XDC Chain, NEAR, Tezos, Kujira, Cosmos, Osmosis |
| ❌ |
|
Epoch 7 (Q4 2023)
Approved Governance Changes: HGP-50
CEX Connectors
Poll: HGP-51
| Rank |
Exchange |
| 1 |
OKX |
| 2 |
Kraken |
| 3 |
Coinbase |
| 4 |
Kucoin |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
OKX, Kraken, Coinbase, Kucoin, AscendEx, Bybit, Bitmart, MEXC, Phemex, Foxbit, Huobi, Bit.com, BTC Markets, NDAX, Bitfinex, Bitget, HitBTC |
| ❌ |
Bitmex, Woo X |
DEX Connectors
Poll: HGP-52
| Rank |
Exchange |
| 1 |
dYdX |
| 2 |
Uniswap |
| 3 |
XRP Ledger |
| 4 |
Pancakeswap |
| Inclusion Threshold Pass/Fail |
Exchange Connector |
| ✅ |
dYdX, Uniswap, XRP Ledger, Pancakeswap, Uniswap, Dexalot, TraderJoe, Polkadex, Mad Meerkat, Perpetual Protocol, Sushiswap, Tinyman, Injective Helix, Quickswap, Vertex, Pangolin, Ref, XSwap, Hyperliquid, OpenOcean, Curve, Plenty |
| ❌ |
|
Chain Connectors
Poll: HGP-53
| Rank |
Chain |
| 1 |
Ethereum |
| 2 |
XRP Ledger |
| 3 |
BNB Chain |
| 4 |
Avalanche |
| Inclusion Threshold Pass/Fail |
Chain Connector |
| ✅ |
Ethereum, XRP Ledger, BNB Chain, Avalanche, XDC Chain, Cronos, Algorand, NEAR, Polygon, Injective, Tezos, Kujira, Cosmos, Harmony |
| ❌ |
|
Epoch 6 (Q3 2023)
Recap: Epoch 6 Polls Recap
Approved Governance Changes: HGP-45
CEX Connectors
 |
Binance |
 |
Gate.io, Kucoin, Huobi |
 |
Ascendex, OKX, Coinbase, Kraken, BTC-Markets, Phemex, HitBTC, Bitfinex, Bitget, Bitmex, BIT, MEXC, Bybit, Bitmart, NDAX |
DEX Connectors
|
dYdX |
|
Dexalot, Polkadex, Injective Helix |
|
Uniswap, Pancakeswap, Sushiswap, Plenty, TraderJoe, Perpetual Protocol, Quickswap, OpenOcean, Pangolin, Mad Meerkat Finance, Ref Finance, Tinyman, VVS Finance, XSwap, Vertex |
Chain Connectors
|
Ethereum |
|
Avalanche, Binance Smart Chain, Polygon |
|
Injective, Harmony, Tezos, XDC, Algorand, Cosmos, Cronos, Near |
Epoch 5 (Q2 2023)
Recap: Epoch 5 Polls Recap
Approved Governance Changes: HGP-43
CEX Connectors
|
Binance |
|
Kucoin, AscendEx, Gate.io |
|
OKX, Huobi, AltMarkets, Phemex, BIT, Kraken, Bybit, Bitmart, NDAX, Coinbase, Bitfinex, HitBTC, Binance US, MEXC, BTC-Markets, Bitget, Bitmex |
DEX Connectors
|
Uniswap |
|
dYdX, PancakeSwap, Dexalot |
|
TraderJoe, Sushiswap, Pangolin, Tinyman, Injective, Quickswap, Mad Meerkat Finance, Ref Finance, VVS Finance, XSwap, Defira, OpenOcean, Loopring |
Core Strategies
Epoch 4 (Q2 2023)
Recap: Epoch 4 Polls Recap
CEX Connectors
|
Binance |
|
Kucoin, Gate.io, AscendEx |
|
Bitget, MEXC, NDAX, OKX, Bybit, Bitmart, BTC-Markets, WhiteBit, Kraken, AltMarkets, Bittrex, Crypto.com, Bitmex, LBank, Huobi, Coinbase, Binance US, Bitfinex, HitBTC, ProBit Global |
DEX Connectors
|
Uniswap |
|
Quickswap, Traderjoe, dYdX |
|
Pancakeswap, MM Finance, Ref Finance, VVS Finance, Sushiswap, Defi Kingdoms, Defira, Loopring, Perpetual Protocol, Pangolin, OpenOcean |
Core Strategies
Epoch 3 (Q1 2023)
Recap: Epoch 3 Polls Recap
CEX Connectors
|
Binance |
|
Kucoin, Gate.io, AscendEx |
|
Crypto.com, Kraken, LBank, Bitget, Bybit, NDAX, Coinbase, Bitmart, Bitfinex, Binance US, Bittrex, Huobi, AltMarkets, HitBTC, Bitmex, ProBit Global, OKX, WhiteBit, MEXC |
DEX Connectors
|
Uniswap |
|
PancakeSwap, SushiSwap, dYdX |
|
TraderJoe, QuickSwap, OpenOcean, Pangolin, Defira, Perpetual Protocol, MM Finance, Defi Kingdoms, Loopring, Ref Finance, VVS Finance |
Core Strategies
 |
Pure Market Making (PMM), Cross Exchange Market Making (XEMM), AMM Arbitrage |
 |
Avellaneda Market Making, UniswapV3 LP, Hedge, Cross-Exchange Mining, Perpetual Market Making, Aroon Oscillator, Liquidity Mining, TWAP, Spot Perpetual Arbitrage |
Epoch 2 (Q3-Q4 2022)
Approved Governance Changes: HGP-22, HGP-24
After Epoch 2, the Foundation conducted a retrospective and decided to enact the following changes to improve the governance process:
- Change epoch cadence to from bi-annually to quarterly
- Start Polls to make HBOT governance easier
- Cease setting per-epoch HBOT distribution targets
Epoch 1 (Q1-Q2 2022)
Approved Governance Changes: HGP-10, HGP-12, HGP-17
After Epoch 1, the Foundation conducted a retrospective and enacted a number of changes to the governance process. Specifically, the Foundation decided to start the following initiatives:
- Start the Exchange Certification initiative
- Create more structure around the Bounties process
- Start a developer bootcamp