Hummingbot Newsletter | May 2021

Shipped v0.39.0 release, NEW Uniswap V3 strategy, Open Defi Hackathon, Q2 Roadmap, Hacken liquidity mining campaign, etc.

Welcome to the Hummingbot Newsletter! Hope this issue finds you and your loved ones ❤️ safe and strong 💪.

Published each month when we ship a new Hummingbot release, this newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding global 🌐 community!

➡️ Subscribe to never miss any new issue.


🚀 Shipped Hummingbot v0.39.0!

We are very excited to ship the May 2021 Hummingbot release (v0.39.0) today. This release contains:

  • New FTX Spot Exchange Connector

  • New dy/dx Perpetual Connector

  • New Avellaneda Market Making Parameter: Volatility Sensibility

  • Enhancements and bug fixes to Avellaneda Market Making strategy

Read the release notes


🙋‍♂️ CEO Note: Hummingbot + Uniswap

Dear bot-runners,

As mentioned in the Hummingbot Q2 Roadmap blog post that we published last week, we are working with Uniswap on a Hummingbot strategy that allows Uniswap liquidity providers to dynamically manage their UniswapV3 LP positions with Hummingbot.

Today, we’re excited to announce that this new strategy, along with the UniswapV3 Hummingbot connector, is ready for testing! Since this strategy is an experimental proof-of-concept that will undergo substantial iteration, it’s on a feature branch for now, but we expect to merge it to master over the next few releases.


I wanted to share a bit more background about the UniswapV3 connector and why we’re so excited about it at Hummingbot:

Both Hummingbot and Uniswap were conceived and launched in the depth of crypto winter (late 2018 / early 2019). This timing was no accident: both we and Hayden Adams (Uniswap’s founder) believed that a) liquidity was the core bottleneck that prevented DeFi from gaining traction, b) liquidity was controlled by a small set of crypto market makers, and c) this market for liquidity could actually be democratized.

While we took different approaches (and Uniswap is clearly a lot bigger and has made more impact on the market!), I think both Uniswap and Hummingbot both had the right general idea: democratizing liquidity provision gives everyone the ability to earn fees for doing a job previously available only to Wall Street investment banks and hedge funds.

In fact, I wrote an April 2019 blog post comparing Hummingbot and Uniswap’s approaches toward liquidity provision. Unfortunately, my (bad) take at the time was that Uniswap and Hummingbot were built for different user personas (retail vs professional):

Both Hummingbot and Uniswap are open source projects that share the same mission: improving liquidity in decentralized finance. We target different user personas who have different needs, allowing both projects to better serve the entire market.

That take seems a bit silly in hindsight, now that Uniswap is doing $20bn weekly trading volume, so there are clearly more than just retail traders there!

But it’s about more than just volume. Since Uniswap allows anyone to create a pool, there are now over 10,000 different pools, and since V3 allows for 3 fee tiers per pool, there will be even more pools, especially in the long tail, in need of liquidity. Enabling the Hummingbot community of market makers to participate on Uniswap would be a clear win-win for both projects.


While Hummingbot now has a UniswapV2 connector and amm-arb strategy, it’s undeniable that the bulk of our community are running market making strategies like liquidity_mining or avellaneda_market_making.

That’s why I was pumped after reading the UniswapV3 whitepaper, which described a new “range order” type that gives liquidity providers (LPs) greater control and enables them to be more capital efficient. In my opinion, range orders will give Hummingbot users familiar with the order book market making a set of levers and dials that allow them to execute similar market making strategies and earn similar liquidity mining rewards with Uniswap. It’s a whole new (decentralized) world! 🦄🌈

Our uniswap_v3_lp strategy is initially intended to be a simple, basic bot that keeps your liquidity position active as market prices shift, and we are seeking feedback from the community to evolve it over time. In addition, we will create documentation that shows developers how to create their own UniswapV3 strategies.

We are looking forward to what the community comes up with! For example, I wonder if there’s a UniswapV3 algorithm similar to Avellaneda-Skoikov that adjusts “reservation price” based on your inventory position? 🤔

best,

Michael Feng
@fengtality


🌊 Liquidity Mining Updates

New Hacken liquidity mining campaign

A new 3-month liquidity mining campaign for Hacken with a total reward pool of 15,000 USDT has been launched on KuCoin! The reward schedule is as below:

  • Reward: 1,250 USDT per week

  • Eligible token pairs: HAI/USDT

  • Eligible orders: maker orders placed with spreads of 2% or lower

Join the campaigns

Liquidity mining: April recap

In April 2021, Hummingbot miner platform continued its explosive growth, expanding both its user base and rewards pool. The filled order volume continued to grow, increasing almost 30% last month and achieving a total cumulative value of $1.49bn! This demonstrates not only the increasing interest of the community but also the success of the liquidity mining model as a cost-effective alternative to traditional market making services for both issuers and exchanges.

Check out what we've achieved!

Introducing the brand new Hummingbot quickstart guide

We have launched a new quickstart guide on Hummingbot Academy presenting all the information you’ll need to run your first bot and join liquidity mining.

Get started with liquidity mining


⚒️ New engineering blogs

Hummingbot Architecture Part 2

This new blog post by our CTO Martin Kou covers the architecture behind trading strategies - the very component that decides Hummingbot trades with your money, and the basics on problem diagnosis and debugging in live trading.

Read more

Avellaneda strategy: A technical deep dive

This post provides a mathematical deep dive into the new Avellaneda-Stoikov market making strategy we’ve launched in v0.38, explaining how we modified the original Avellaneda-Stoikov model for the cryptocurrency industry, along with how we simplified the calculation of key parameters.

Get the scoop


🎙️ Latest Hummingbot Live Episodes

Have you watched our latest episodes of Hummingbot Live, a weekly live-streamed show on our YouTube Channel happening every Friday (5:00 PM PT)? Check out the replays! 👇

Don’t forget to subscribe to our YouTube channel and click on the bell 🔔 to allow notifications. You’ll never miss any Hummingbot’s new videos and live streams!

Subscribe to Hummingbot Channel


👋 Last few days to join OpenDefi Hackathon, and earn $4,000 Hummingbot bounty rewards

We are excited to sponsor the first Open Defi Hackathon! As an open-source project, our team is always happy to see community contributions, and we are constantly improving our procedures for integrating with external contributions.

Each of the two bounties we sponsor will reward participants with a 1,500 USDT prize for the winner and 500 USDT in tips distributed to meaningful submissions.

Watch the replay of Hummingbot Workshop to learn to navigate Hummingbot codebase and understand how to create a strategy -

Check out the bounties


🍿 Crypto snacks

A curated list of recently published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers.

🍇 Trying to understand the basics of futures work and what's unique about Bitcoin futures? Check out this tweetstorm. (Disclaimer: No financial, trading, or investment advice intended. Do your own research before trading.)


💬 Get involved!

Download | Website | Blog | Twitter | Discord | Reddit | YouTube | Meetup

Hummingbot Newsletter | April 2021

Shipped v0.38.0 release, Conflux & Symbol campaigns, New market making strategy demo, etc.

Welcome to the Hummingbot Newsletter! Hope this issue finds you and your loved ones ❤️ safe and strong 💪.

Published each month when we ship a new Hummingbot release, this newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding global 🌐 community!

➡️ Subscribe to never miss any new issue.


🚀 Shipped Hummingbot v0.38.0!

We are very excited to ship the April 2021 Hummingbot release (v0.38.0) today. This release contains:

  • New connectors for HitBTC, Digifinex, and CoinZoom;

  • New Avellaneda market making strategy based on the classic Avellaneda-Stoikov paper

    Read the release notes


🙋‍♂️ CEO Note: How we plan to evolve Hummingbot strategies

Dear bot-runners,

The publication of the new avellaneda strategy in v0.38.0 marks a shift in how we at Hummingbot plan to build and release strategies going forward. Based on the seminal market making paper High-frequency trading in a limit order book published by Marco Avellaneda and Sasha Stoikov in 2006, the avellaneda strategy replicates the model outlined in the paper while making certain mathematical assumptions to make it easier for new users to deploy a bot. Advanced users, on the other hand, can choose to set the kappa and gamma parameters directly for more control.

Generally, market making is a fairly new area of academic literature, and many papers have been published on it over the past 20 years. Going forward, we plan to base the market making strategies that Hummingbot releases on these academic papers.

Unlike the current pure_market_making strategy, we aim to keep these academically-oriented strategies fairly simple and limit how much parameters we add, in order to reduce confusion for new users. At the same time, we plan to make it simpler to customize and create strategies, so that advanced users can add the bells and whistles they want.

best,

Michael Feng
@fengtality


🌊 Liquidity Mining Updates

New Symbol & Conflux liquidity mining campaigns

We are thrilled to launch new liquidity mining campaigns for Symbol and Conflux on KuCoin and Binance, respectively.

Conflux campaign terms:

  • Total reward pool*: USDT 1,250/week for 12 weeks

  • Reward token: USDT

  • The rewards will be split equally between the below two eligible pairs:

    • CFX/USDT

    • CFX/BTC

  • Eligible orders: maker orders placed with spreads of 2% or lower

  • Exchange: binance.com

Symbol campaign terms:

  • Total reward pool*: ~ XYM 3,570 / week (subject to change)

  • Reward token: XYM

  • Eligible token pairs: XYM/BTC and XYM/USDT

  • Eligible orders: maker orders placed with spreads of 1.5% or lower

  • Exchange: KuCoin

Join the campaigns

Frontier extends its liquidity mining campaign on Binance and launches a new KuCoin liquidity mining campaign

Since the launch in late December last year, Hummingbot miners have accounted for up to 45% of the FRONT/BUSD trading volume on Binance. Encouraged by the campaign result, Frontier has decided to extend the Front liquidity mining campaign on Binance for another 3 months and launch a new liquidity mining campaign on KuCoin for the FRONT/BTC and FRONT/USDT pairs. The new reward schedule is as below:

  • Binance: 

    • FRONT/BUSD: USDT 1,250/week + FRONT 422/week 

  • KuCoin: 

    • FRONT/USDT: USDT 625/week + FRONT 422/week 

    • FRONT/BTC: USDT 625/week + FRONT 422/week

Firo extends its liquidity mining campaign

As both the Hummingbot and FIRO teams are pleased with the past campaign performance, we have decided to extend the FIRO liquidity mining campaign for another month and the campaign is subject to further extension!

The updated reward schedule is as below:

  • FIRO/BTC: 159 FIRO/week

  • FIRO/USDT: 159 FIRO/week

Liquidity mining: March recap

In March the Hummingbot platform continued its impressive growth, with the highest filled order volumes and rewards for miners to date. The total number of distinct miners themselves jumped 19.4%  last month, from 1,622 to 1,937! Some summary stats through the past 13 months of liquidity mining are as below:

  • Filled order volume surpassed $1,152mm

  • Total distinct miners surpassed 1,937! 315 new miners signed up in the month of March alone!

  • $516k equivalent cumulative rewards paid out, compared to $272k in January

  • The top-ranked miner has earned the USD equivalent of 93k in total rewards

    Check out what we've achieved!


⚒️ Launching the Hummingbot Engineering blog

We are excited to launch Hummingbot Engineering blog to introduce the technology behind Hummingbot. We believe aspiring developers and our community members might be interested in what we are working on, how we are tackling complex technical problems and how our community can make better use of our open-source code base.

In the first blog post, our Co-founder and CTO, Martin Kou discusses some of the key architectural features in Hummingbot, and the rationales behind their designs as the underlying framework of Hummingbot is freely extensible for building custom strategies, custom market connectors, and more.

Get the scoop


🎙️ New Hummingbot Live Episodes

Have you watched our latest episodes of Hummingbot Live, a weekly livestreamed show on our YouTube Channel happening every Friday (5:00 PM PT)? Check out the replays! We’ve hosted AMAs with Perpetual protocol and Beaxy, and introduced our new Avallaneda market-making strategy (available in the release v0.38) based on a rigorous academic research paper.

Don’t forget to subscribe to our YouTube channel and click on the bell 🔔 to allow notifications. You’ll never miss any Hummingbot’s new videos and live streams!

Subscribe to Hummingbot Channel


📚 New stuff in Hummingbot Academy

This new article explores the basic concept of the new spot-perpetual arbitrage strategy, the logic behind it, and how to find good trading opportunities.

Learn more

There are many ways to identify trends, either using fundamental analysis or technical analysis. This article will share some tools that hopefully will assist you build your own framework for identifying trends.

Learn more


🍿 Crypto snacks

A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers.

🍇 Uniswap V3 is outcheck out the new features that upgrade the model. And here’s a short explainer video on the Uniswap V3 architecture.

🍡 Binance Smart Chain and CeDeFi explained: How is BSC different from Ethereum? And what is CeDeFi?


💬 Get involved!

Download | Website | Blog | Twitter | Discord | Reddit | YouTube | Meetup

Hummingbot Newsletter | March 2021

Shipped v0.37.0 release, Miner 1-year recap, Firo campaign, job opps at Hummingbot, etc.

Welcome to the Hummingbot Newsletter! Hope this issue finds you and your loved ones ❤️ safe and strong 💪.

Published each month when we ship a new Hummingbot release, this newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding global 🌐 community!

➡️ Subscribe to never miss any new issue.


🚀 Shipped Hummingbot v0.37.0!

Dear bot-runners,

We are very excited to ship the March 2021 Hummingbot release (v0.37.0) today.

Read the release notes


🙋‍♂️ CEO Note: Highlights in this release

Dear bot-runners,

I wanted to call out a few features in this release that I’m really proud of our team for shipping:

Spot-perp arbitrage strategy

This release includes a new strategy that allows you arbitrage between normal spot exchanges and other exchanges that trade perpetual swaps, such as Binance Futures and Perpetual Protocol (new in this release, see below).

We designed this strategy to let users take advantage of the growing number of both centralized and decentralized exchanges that offer perpetual swaps, which uses funding rates to keep prices in line with spot venues. Since prices between spot and perpetual markets may deviate as markets shift, this presents an opportunity for arbitrageurs.

This strategy is the first of many possible strategies that exploit the differences between perpetual markets. We’re designing another strategy to arbitrage funding rate differences that will be in an upcoming release.

4 new exchange connectors

Our goal at Hummingbot is to connect every exchange, because it creates mutual benefits for both the exchanges and our users. An exchange with a Hummingbot connector can source liquidity from our global bot-runner community, while our bot-runners can discover new arbitrage and cross-exchange market making opportunities every time we add a new exchange.

That’s why we’re increasing the rate at which we add new exchange connectors. In this release, we introduced new connectors to Perpetual Protocol, Beaxy, Probit, and Probit Korea, and we expect to add four more connectors in the April v0.38 release!

Liquidity Mining strategy integrates Hummingbot Miner

We made further improvements to the Liquidity Mining strategy introduced in the February v0.36 release, which lets you run a single market making bot that provides liquidity (and potentially earns mining rewards) on multiple trading pairs simultaneously.

In this release, we integrated the Hummingbot Miner API in order to display rewards information from each live market in when user run the status command. In subsequent releases, we plan to enhance this integration by incorporating rewards data into the history command, along with enabling the bot to more intelligently allocate capital to higher yielding markets.

More and more community contributions

In this release, contributions from external developers include the Beaxy connector along with 3 important bug fixes. In addition, we are seeing an increasing number of external pull requests to our Github repository.

We’re excited to see this happen, since we’ve always seen Hummingbot as a truly decentralized community-owned and operated open source project. To better support the community, we plan to start allocate more resources to reviewing community contributions and improving the developer documentation, starting with the April v0.38 release cycle.

best,

Michael Feng
@fengtality


🎉 Liquidity Mining Year 1 Recap

Happy birthday to Hummingbot liquidity mining 🎂!

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.

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!

Get the scoop


🌊 Liquidity Mining Updates

New Firo liquidity mining campaign

Among the first to adopt liquidity mining, Zcoin was one of our liquidity mining launch partners. Zcoin has rebranded to Firo with its new ticker FIRO. We are very excited that Firo is back to liquidity mining!

Now we are bringing you a new liquidity mining campaign for Firo with a total reward pool of US$10,000 in Firo tokens! The campaign will start on February 23, 2021 12:00 AM UTC

3-month extension of Hifi (formerly Mainframe) liquidity mining campaign

Since we launched liquidity mining for Mainframe (now rebranded to Hifi) last June, we have seen great participation and consistent growth in trading volume. As a big supporter of this community-driven approach and Hummingbot, Mainframe (now Hifi) has decided to extend its liquidity mining campaign for another 3 months with a total reward pool of USDT 9,000 (USDT 750 per week)!

KuCoin liquidity mining launch

In the past February, we launched liquidity mining on our second exchange, KuCoin. This was a major milestone for our company as we have worked to make the liquidity mining system stable and scalable to allow us to expand to other exchanges. We are planning to add support for at least 4 more exchanges this year, and this was just the start!

The KuCoin campaigns have been off to a great start in our initial “beta” period. In total, 153 unique miners participated and generated $17.3m of filled trading volume in total.

Join the campaigns

New Hummingbot Miner features

We are continually working to improve the Humminbot Miner app and on providing users with a great experience that enables them to optimize their trading and participation in liquidity mining. In February, we rolled up useful new features including 24-h volume, leaderboard trend, Improved markets page layout, and many more.

Check out the new features


🎙️ Introducing Hummingbot Live

We are excited to bring you Hummingbot Live, a weekly livestreamed show on our YouTube Channel happening every Friday (5:00 PM PST).

The first episode of Hummingbot Live covers a demonstration and AMA about the perpetual market-making strategy. The second one covers our newly released liquidity mining strategy while the third one walkthroughs the newest perpetual-spot arbitrage strategy. Check out the below replays if you are interested.

Don’t forget to subscribe to our YouTube channel and click on the bell 🔔 to allow notifications. You’ll never miss any Hummingbot’s new videos and live streams!

Subscribe to Hummingbot Channel


📚 New stuff in Hummingbot Academy

Extracting the best value from your Hummingbot - Order Management configuration

We have posted a new Hummingbot Academy article to help you get the best out of Hummingbot. The article covers the following topics:

  • As a market maker, what kind of order management is needed;

  • How to manage your orders on the Hummingbot Client;

  • Why and how traders keep jumping offers on the order book;

  • What is and how to use order optimization; and

  • How to expand the order management using scripts

    Learn more


🎳 Join the Hummingbot team

As we scale our product rapidly, we are continuously hiring for multiple positions at hummingbot! We are a fully remote team (you can live anywhere on the earth) with a hard-working spirit and fun culture. If you see a good fit, don't hesitate to reach out to us!

Check out Hummingbot jobs


🍿 Crypto snacks

A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers.

🦐 Breaking Down the Payment for Order Flow DebateA closer look into the structure of markets and market making

🥐 How to Bring Off-Chain Assets to DeFiSome of the key considerations for building decentralized real-world asset markets at an institutional scale


💬 Get involved!

Download | Website | Blog | Twitter | Discord | Reddit | YouTube | Meetup

Hummingbot Newsletter | February 2021

Released Hummingbot v0.36.0, KuCoin liquidity mining campaigns, New governance vote, etc.

Welcome to the Hummingbot Newsletter! Hope this issue finds you and your loved ones ❤️ safe and strong 💪.

Published each month when we ship a new Hummingbot release, this newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding global 🌐 community!

➡️ Subscribe to never miss any new issue.


🚀 What’s in Hummingbot v0.36.0

Dear bot-runners,

We are very excited to ship the February 2021 Hummingbot release (v0.36.0) today. Some highlights:

🏦 Two new exchange connectors

This release introduces new connectors for BitMax, an exchange which has experienced high growth in new listings and volume recently, along with Blocktane, a new exchange focused on the Latin American market. Both connectors were built by developers participating in our newly established partner program, which matches community developers with projects/exchanges seeking custom Hummingbot development work. For more information about this program, please email partnerships@hummingbot.io.

⛏️ New Liquidity Mining strategy

We introduce a new strategy called liquidity_mining that makes it easier for bot-runners to earn liquidity rewards on Hummingbot Miner. This strategy allows you to use a single token and run market making for multiple pairs at once, saving you from having to maintain multiple Hummingbot instances. Also, it incorporates the volatility adjustment feature that was previously only available via a script, so now users can make their bots automatically widen spreads when market volatility increases. We plan to make further improvements to this strategy over the next few releases.

📜 Local trade history reconciliation

Executed bot trades stored by Hummingbot and displayed in the history command may be subject to network latency and WebSocket API disconnects, resulting in missed and/or duplicate trades. Since this trade history drives performance calculations, getting this correct is very important. In this release, we introduced a feature to reconcile Hummingbot’s trade history with the trades from the exchange’s historical trades API endpoint.

⭐ Improvements to perpetuals strategy and connector

We significantly improved the perpetual_market_making strategy and the Binance Futures connector in this release and have removed the BETA label from them. We have added a parameter that allows users to set a stop loss threshold. Also, executed trades are now correctly displayed with the history command. In the next few release, we plan to release more strategies that utilize both perpetual and spot exchanges.

🎓 More videos, guides, and interviews

Since Hummingbot now supports more complex trading strategies and products, we will put more emphasis on educating the community via content on Hummingbot Academy as well as our Youtube channel. In addition, we’ll be doing more interviews like the one below with Blocktane, as well as a regular AMA+livestream on the eve of every new Hummingbot release. Follow us on Twitter or join our Discord to get updates!

best,

Michael Feng
(@fengtality)

Read the release notes


📈 Liquidity mining recap: January 2021

2021 has kicked off with a bang! Strong momentum at the end of 2020 carried over to January and we saw lots of growth and new major milestones achieved:

  • January’s monthly traded volume totaled $148M, the largest ever monthly total

  • Weekly volume of $43M in the last week of January was also the largest ever weekly total

  • 152 new users signed up and earned rewards on Hummingbot Miner in January, marking the largest monthly new user acquisition since the launch of the platform in March 2020

  • Open order volumes (“total value locked”) also ended the month near all-time highs, at $302K

In total, Hummingbot Miner has paid out $272K of liquidity mining rewards to 1,358 different market makers. The order book depth created by Hummingbot miners has resulted in $452M of traded volume and improved liquidity for 17 token issuers.

During the past month, we also rolled out three new liquidity mining campaigns for QuarkChain, Secret, and Blox CDT on Binance, and extend the iExec RLC campaign for another 6 months.

Learn more


🆕 Liquidity mining campaigns are coming to KuCoin!

We are thrilled to finally be kicking off liquidity mining to KuCoin. We will be launching new liquidity mining campaigns (Beta) for BTC, ETH, ONE, and ALGO on February 2nd, 2021! 

The launch of liquidity mining on KuCoin, our second supported exchange for Hummingbot Miner, marks a major milestone for us, demonstrating our ability to scale liquidity mining to bring more campaigns and support more exchanges in the near future. This is the first of many, as we are planning to add on several more exchanges this year.

Want to learn the details of the upcoming campaigns? Click the button below 👇

Check out the new campaigns


🎙️ Introducing The Hummingbot Show

We are launching a new video series on our YouTube Channel - The Hummingbot Show. The first episode features John Willock, CEO of Blocktane, the first Brazil-based exchange ever supported by Hummingbot. We plan to roll out more interviews featuring token projects and exchanges' leaders in the future. Stay tuned!


🙌 The result of governance proposal #4

Thanks again to everyone who participated in our 4th governance vote. The winner exchange is Binance Cloud! Two exchanges powered by Binance Cloud, namely Tokocrypto and Mandala have developed their Hummingbot connectors, we will work closely with their dev team to get the connectors merged into the next release v0.37.0.

Want to have a say in Hummingbot governance? Make sure to participate in liquidity mining! <= $1 in rewards will be round up to 1 vote. More Rewards earned, more votes you can cast!


📚 New stuff in Hummingbot Academy

Arbitrage and Terra blockchain: How to set up Hummingbot for new opportunities

With the launch of the Terra connector, Hummingbot has opened up many new arbitrage opportunities for users. Have questions about Terra arbitrage? We’ve got you covered! Watch the above AMA replay featuring Mike Feng, CEO of Hummingbot, and Do, CEO of Terra. ☝️

We also made a step-by-step demo video that can guide you through the setup. 👇

The Hummingbot Academy tutorial article also covers the basic steps to grab arbitrage opportunities between Terra and other exchanges. Check out the guide below. 👇

Learn more


💃🕺 Hummingbot 🆚 Haasbot: Which one is better for liquidity mining?

In the last comparison blog, we compared Cryptohopper and Hummingbot, and this time, we will compare Haasbot and Hummingbot.

The goal of this article is to test out both bots and help you make better decisions on which software to use for liquidity mining (Remember, you do not need to use Hummingbot to earn liquidity mining rewards). We will make a comparison of their basic market making features and run these two bots for liquidity mining to test out the performance.

Check out the comparison


🍿 Crypto snacks

A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers.

🧆 How Cultural Differences Drive User Adoption in DeFiThe cultural differences between the development teams and the users for whom they build products can explain some differences in the design and user adoption of different DeFi products.

🥒 What I Think of Bitcoin by Ray DalioDid Ray Dalio warm up to Bitcoin?


💬 Get involved!

Download | Website | Blog | Twitter | Discord | Reddit | YouTube | Meetup

Hummingbot Newsletter | January 2021

Released Hummingbot v0.35.0, Frontier & QuarkChain liquidity mining campaigns, 2020 Year in Review, etc.

Welcome to the Hummingbot Newsletter! Hope this issue finds you and your ❤️loved ones safe and strong 💪.

From now on, we will be sending out this newsletter on a monthly basis on the same day as our new release. As before, the Hummingbot Newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding community 👪!

➡️ Subscribe to never miss any new issue.


🔥 Shipped latest release of Hummingbot!

We are very excited to ship the January 2021 Hummingbot release (v0.35.0) today. This release includes:


🙋‍♂️ CEO Note: Extending Hummingbot to perpetuals

Dear bot-runners,

Ever since we launched Hummingbot, the most common request we’ve fielded from the community has been to support derivatives trading. Given that we focus on serving developers and more sophisticated traders, we’ve always wanted to fulfill that request.

However, we first had to ensure that Hummingbot was working properly on spot exchanges before we added derivatives. Now that Hummingbot supports 15+ spot exchanges and is used by a worldwide community of traders and developers, we believe it’s time to starting expanding Hummingbot’s capabilities.

Since crypto derivative exchanges are more complex and less standardized than spot exchanges, abstracting different exchanges into a single connector standard is a bit more difficult. That’s why we’re taking an incremental approach to adding derivative connectors and strategies.

In the v0.34 release, we introduced a new Binance Futures connector along with a new perpetual market making strategy focused on perpetual futures, the most common derivative product traded in crypto.

In today’s v0.35 release, we added position management parameters that allow users to open trailing stop and profit taking orders in order to manage derivatives positions after they are opened. In upcoming releases, we plan to further improve perpetuals support by add more exchanges that support perpetuals, as well as a strategy that allows users to arbitrage between spot and perpetual markets.

This incremental approach allows us to keep the code simple while gathering feedback from the community as to what users want us to add next. Please try out the new Binance Futures connector and the perpetual_market_making strategy, and let us know what you think!

best,

Michael Feng
(@fengtality)


🆕 Year in review 2020

By the end of 2020, we have seen 1,179 unique miners participate in liquidity mining. The order book depth created by liquidity miners resulted in $303.6 million of traded volume. Meanwhile, the rewards paid out to miners has totaled USD 215,362 equivalent, resulting in cost-effective market making for token issuers.

Liquidity mining 10-month summary stats (More details can be found in our December Recap):

  • The overall miner traded volume reached $300+ million

  • More than $215k in cumulative rewards paid out

  • 4,626 total sign-ups, with 1179 distinct miners having participated and earning rewards

  • The top-ranked miner has earned equivalent USD $29k in total rewards

As we kick off 2021, we hope to carry the momentum of strong activity in December to the new year! We are already working on announcing new campaigns shortly as well as looking to expand liquidity mining capabilities to additional exchanges.

Read our Year in Review 2020


🆕 New liquidity mining campaigns

Since the platform’s launch, we have run campaigns on Binance.com for 15 different token issuers for 46 different trading pairs.

In December, we launched three new campaigns, for Ava Lab’s Avalanche (AVAX) tokens, Phoenix Global (PHB), and Frontier (FRONT). We have proven that our system and concept of liquidity mining is able to serve token issuers’ needs efficiently and effectively.

This week, we will be launching a new 3-month liquidity mining campaign for QuarkChain with a total reward pool of USDT 9,000!

Campaign Terms

  • Start date: January 12, 2021 12:00am UTC

  • Total reward pool*: USDT 750/week for 12 weeks

  • Reward token: USDT

  • Eligible token pairs: QKC/ETH

  • Eligible orders: maker orders placed with spreads of 2% or lower

  • Exchange: binance.com

Get started with liquidity mining


🧐 New stuff in Hummingbot Academy

We introduced a new section on our website called Hummingbot Academy. Its goal is to teach new and existing users about new strategies and other ways to run Hummingbot better!

New arbitrage opportunity spotted: Wrapped CELO

Are you looking for an easy way to take advantage of CELO and cUSD arbitrage opportunities between Uniswap and centralized exchanges? Hummingbot is the easiest way to do it because it offers an Automated Market Maker arbitrage strategy (amm-arb). We go through how to set up your bot to search for these profitable opportunities in the latest Hummingbot Academy article!

Learn more

Risk management: Using TradingView and webhooks

Mitigating risk is essential for effective market making. Market makers look to do this by utilizing strategies and tools available to them. For example, Hummingbot has many advanced market making settings that allow users to customize their trading experience and create their own strategies. Hummingbot even supports the use of telegram bots to allow you to constantly monitor your bot from your phone.

In this article, we explain the advantages of using TradingView alerts and the steps required to create and connect them to your Hummingbot to help streamline and automate your trading experience.

Learn more


💃🕺 Hummingbot 🆚 Cryptohopper: Which one is better for liquidity mining?

Back in 2019, we investigated 12 bots based on their relative ease of use of installation, configuration, and operation in two blog posts, Bot reviews, part 1 and Bot reviews, part 2.

This time, we decided to do a more in-depth comparison of Cryptohopper against Hummingbot in terms of general features and market making parameters.

Cryptohopper is a commercial web-based application while Hummingbot is a free and open-source command-line application. We selected Cryptohopper because it also has a market making feature that's not available for many crypto trading bots, so you can actually use it to do liquidity mining on Hummingbot Miner, rather than running the open-source Hummingbot software.

In addition to making an apple-to-apple comparison of features, we will also run the bots to earn rewards on Hummingbot Miner with both trading bots, so that you can make better decisions on which software to use for liquidity mining.

Check out the comparison


🔝Top liquidity miner interview featuring MrBig1964

This interview features MrBig1964, who is one of our Eagle Club members and 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.

Get the scoop


🍿 Crypto snacks

A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers.

🦐 The Block’s Year in Review 2020Ten developments that define the crypto trends in 2020

🥕 The Block’s Digital Asset Outlook 2021: The report covers the state of the market, investment trends, decentralized finance, and other thematic trends to watch for in 2021


💬 Get involved!

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