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HBOT

The Hummingbot Governance Token (HBOT) is a standard ERC-20 Ethereum token that lets holders to decide how the Hummingbot codebase changes and to govern the Hummingbot Foundation through voting.

  • Issuer: Hummingbot Foundation
  • Contract Address: 0xE5097D9baeAFB89f9bcB78C9290d545dB5f9e9CB (Etherscan)
  • Name: Hummingbot Governance Token
  • Symbol: HBOT
  • Total Supply: 1,000,000,000

Purpose

From 14+ agreements with exchanges that rebate fees based on user trading activity along their respective connectors, the Foundation is cashflow positive from inception and expects that this margin will increase as more individuals and professionals use Hummingbot. Any excess proceeds are held in the Foundation treasury.

The sole use case of the HBOT token is community governance. HBOT tokens empower holders to govern many aspects of the Hummingbot Foundation, including approving all changes to the Hummingbot codebase, electing Board of Directors, and allocating HBOT community distributions and other assets in the Foundation treasury.

The Foundation will never sell or issue more HBOT tokens. 100% of the HBOT token supply will be distributed to past stakeholders, future contributors, developers, and users.

Reputable Information Sources

To prevent HBOT token holders from being scammed by fraudulent versions of the token, unverified pools/DEXs, or incorrect coin listings, below is a compilation of HBOT-related pages on reputable sources. This does not constitute investment advice or a recommendation for any platform or market listed below.

Community Distributions

At Foundation inception, 4 million (4% of total HBOT supply) was distributed to 62 historical Github contributors to the Hummingbot codebase and 2,522 historical users of the Hummingbot Miner platform. See the Claim Your Tokens section below if you haven't yet claimed yours.

The remaining 36 million HBOT tokens outstanding (36% of total HBOT supply) will be distributed during the first 4 years after Foundation inception.

Year % of Total Supply Tokens
2022 9.0% 90,000,000
2023 9.0% 90,000,000
2024 9.0% 90,000,000
2025 9.0% 90,000,000

The Foundation aims to distribute these tokens to:

  • Users who utilize Hummingbot software to provide liquidity to Hummingbot-connected exchanges and decentralized market making platforms;
  • Developers who improve and extend the Hummingbot codebase;
  • Community members who create content, update documentation, and perform other work that benefit the Hummingbot ecosystem.

See Epochs for more information on how HBOT will be distributed.

Claim Your Tokens

A portion of HBOT tokens will be disseminated to eligible Hummingbot users who have contributed code to the Github repository and have earned rewards on the Hummingbot Miner platform. See Introducing HBOT for more information.

To ensure that recipients securely receive their HBOT tokens, the Foundation will transfer HBOT tokens directly to the Ethereum wallet of each recipient, incurring all gas fees in the process. We believe that this will enable thousands of community members to participate in governance when the first proposals are available after the Hummingbot 1.0 release in January.

The historical HBOT token distribution process will run during the following period:

  • Start date: December 17, 2021
  • End date: February 28, 2021 11.59pm UTC

The official Claim Site where recipients can claim HBOT tokens is located at https://claim.hummingbot.org. Please make sure that your browser is loading this URL before using the site.

For administrative purposes, the HBOT token claim period will be divided into weekly periods. Users who have claimed tokens and inputted their Ethereum wallet addresses will receive the tokens during the subsequent week.

The first distributions of tokens will occur during the initial distribution window for users who claimed tokens in the initial weekly claim period. This process will repeat weekly throughout the entire claim period through the end of February 2021.

The Hummingbot Foundation plans to maintain some flexibility on the precise timing for distributing tokens to account for, among other things, prevailing Ethereum gas prices. Users will be notified by email when their respective HBOT tokens have been distributed to them.

Github code contributors

Github code contributors eligible to claim HBOT tokens have been added to a private Hummingbot Foundation Github repository: https://github.com/hummingbot/claim-hbot-tokens. If you can access the repository with your Github login, then you are eligible to claim tokens.

The repository provides eligible code contributors with instructions on how to confirm their email address or provide an alternative email address that they would like to use for the claim process. Afterwards, a user login will be created for Github code contributors on the Claim Site.

Hummingbot Miner users

Users who have earned at least USD 1 equivalent in liquidity rewards on Hummingbot Miner are eligible to claim tokens can visit the Claim Site and log in with their Hummingbot Miner credentials.

Voting Your Tokens

See Governance for information about how to vote using your HBOT token balance (no gas required!) and participate in deciding the future of Hummingbot.

Delegation

Token holders may delegate their votes to other members of the Hummingbot community by enabling delegation at Snapshot Delegation.

In order to limit delegation to the HBOT tokens and Hummingbot Foundation matters (and exclude delegation for other owned tokens that also vote on snapshot), enter hbot.eth in the space field. Otherwise, leave blank to delegate all tokens.

If a user has delegated their tokens, they can still override any delegation by directly voting their tokens. Voting outright always overrides any delegation. Note that, as the Hummingbot Foundation becomes firmly established and community participation increases, token holders in the future may choose to propose to disable voting by delegation, thereby allocating greater voting power toward community members who vote outright only.


Last update: 2022-01-26
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