Hummingbot Newsletter - September 2021

Shipped v0.43.0 release | AscendEX campaign updates | dydx X Hummingbot bounty hunt

Welcome to the Hummingbot Newsletter!

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 v0.43.0!

We are very excited to ship the September 2021 Hummingbot release (v0.43.0) today! This release contains:

  • Simplified Uniswap V3 LP strategy that is easier to use

  • Major bug fixes that upgrade your user experience

    Read the release notes


🌊 Liquidity mining updates

What’s new on AscendEX?

The entire Hummingbot community thanks AscendEX for their sponsorship of the amazing $175K kickoff campaigns! While some AscendEX sponsored campaigns are ending today, Hummingbot is keeping eight of the most popular trading pairs active by sponsoring a 6-week campaign with a $60K total reward pool. The pairs we are going to sponsor and the campaign terms are shown below:  

  • Eligible token pairs: 

    • ASD/USDT

    • DOGE/USDT

    • OMI/USDT

    • SOL/USDT

    • XEM/USDT

    • EXRD/USDT

    • MATIC/USDT

    • FIL/USDT

  • Weekly reward per pair: 1,250 USDT

  • Eligible orders: maker orders placed with spreads of 1% or lower

Besides the above 8 campaigns, we will be bringing back the USDC campaign for another 4 weeks with a US$5,000 total reward pool. This campaign sponsored by AscendEX will start on September 7th, 2021, 12:00 am UTC

Don’t forget to use the Hummingbot referral link to register your AscendEX account!

New NIOX, Kava Swap, and EDEN liquidity mining campaigns + 12-week campaign extensions for DIVI and Avalanche

In recent weeks, we have launched new liquidity mining campaigns for NIOXKava Swap, and EDEN. DIVI and Avalanche extended their campaigns for 12 weeks.

Join early to earn bigger yields!

Join the campaigns!

Liquidity mining: August recap

In August, we've reaches a bunch of all-time highs, including the total number of active bots of 1,239 bots, the daily open order volume of nearly $1.6m, and weekly rewards of $64.5k!

What else did we achieve?


⌛️ Only 1 month to go: Hummingbot X dydx bounty hunt

There’s only 1 month left for the Hummingbot X dYdX bounty. Have you made any progress? We will be distributing $15,000 in rewards to meaningful submissions!

The bounty will provide three prizes:

  • New Strategy Bounty - $10,000

  • Content Bounty - $2,000

  • Tips - $3,000 shared among meaningful and interesting contributions

Don’t miss out on this opportunity to showcase your talent!

Learn more


🎧 Community spotlight: Interview with 3Jane Capital

Check out our latest Community Spotlight video featuring Eugene Tartakovsky, Founder of 3Jane Capital! Eugene talks about his favorite finance and trading books, the origin story of his fund, and how his fund is using Hummingbot and creating custom strategies that fit themselves.


🎙️ 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

We just launched our Twitch channel, where we will be live streaming bot testing occasionally and our weekly Hummingbot Live! Follow us, watch what we run, and have fun!

Follow us on Twitch


🍿 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.

🥒 Vitalik shares his thoughts on coin voting governance and solutions to minimize the risks associated with it in a recent post.


💬 Get involved!

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

Hummingbot Newsletter - August 2021

Shipped v0.42.0 release | AscendEX Blackjack Campaign w/ 21 NEW pairs | dydx X Hummingbot bounty hunt | New FEAR, DAFI, XCAD, Polkadex & Port Finance liquidity mining campaigns

Welcome to the Hummingbot Newsletter!

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 v0.42.0!

We are very excited to ship the August 2021 Hummingbot release (v0.42.0) today! This release contains:

- NEW NDAX connector
- New Global Config feature: Rate Limits Share %
- Fixed major bugs in the AscendEX connector related to rate limit

Check out what's new


🌊 Liquidity mining updates

Join the AscendEX Flash Campaign - 21 NEW pairs!

Within one month after the launch, 232 unique liquidity miners participated in the campaign and earned rewards. We are now excited to introduce the Flash Campaign with 21 new pairs! Short and fun, the Flash Campaign provides the right amount of challenge that spices up your daily trading. Call for all master miners who are confident, calm, adventurous, and skillful! 

The newly added pairs are shown below: 

Use the Hummingbot referral link to register your AscendEX account to enjoy the favorable fee structure.

New FEAR, DAFI, Polkadex, Port Finance, and XCAD liquidity mining campaigns + Campaign extensions for Hifi, Hacken, and BitClout

In recent weeks, we have launched new 12-week liquidity mining campaigns for FEAR, DAFI, Polkadex, Port Finance, and XCAD. Hifi (Formerly known as Mainframe) and Hacken extended their campaigns for 12 weeks, and BitClout extended its campaign for 4 weeks.

Join early to earn bigger yields!

Join the campaigns!

New milestone: $2bn filled order volume

We are immensely proud at achieving a new major milestone: the total filled order volume has surpassed US$2 billion since the launch of Hummingbot Miner! The US$1 billion milestone in total filled order volume takes us one year; while with ever-increasing participation from liquidity miners, token issuers, and exchange partners, we spent only 4 months to reach the new US$2 billion milestone!

Learn more



Introducing the NEW Eagle Club

Do you know that you might be qualified for the Eagle Club, our VIP program for power miners, in the future?

We are now excited to announce new qualification criteria for Eagle Club. Any miner who has earned 0.3% of the total four-week rewards distributed on Hummingbot Miner will be qualified. The calculation will be done every four weeks, not on a rolling basis. The first four weeks will be August 6, 2021 - September 2, 2021. The first new batch of Eagle Club members will be notified on September 2, 2021. The new criteria will be only applied prospectively from today. The existing Club members will not be affected.

Check out the perks

Liquidity mining: July recap - we surpassed a few new milestones!

In July, we achieved several significant milestones: we surpassed the $2 billion mark in traded volume, the total number of active bots reached an all-time high of 1,103 bots, open order volume reached a new all-time high of nearly $1.2 million, and total cumulative rewards surpassed the $1 million mark. With current estimated yearly yields above 200%, liquidity mining allows them to earn higher yields than anywhere else in crypto.

Get the scoop


⌨️ Join Hummingbot X dydx bounty hunt

We are excited to announce a new round of bounties to challenge the Hummingbot developer community!

We are working with dYdX, a leading decentralized perpetual exchange, to distribute $15,000 in prizes to hackers and devs who help grow the community-driven Hummingbot open-source project.

The bounty will provide three prizes:

  • New Strategy Bounty - $10,000

  • Content Bounty - $2,000

  • Tips - $3,000 shared among meaningful and interesting contributions

Sign up NOW

Learn more


🎙️ 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

We just launched our Twitch channel, where we will be live streaming bot testing occasionally and our weekly Hummingbot Live! Follow us, watch what we run, and have fun!

Follow us on Twitch


🍿 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.

🥒 Missed out on ETHCC in Paris? Check out this article summarizing the highlights of this first in-person Ethereum event since the pandemic.

🌯 Here's a good summary of the EIP-1559 change to Ethereum that happened on August 5th and how it affects users. The goal of EIP-1559 is to make gas more observable and transparent while still allowing you to cut the line by paying higher gas prices. It separates gas into 1) base fee and 2) tip.

🍢 Crypto firms are expanding their headcounts this year, so do we! Check out our openings!


💬 Get involved!

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

Hummingbot Newsletter - July 2021

Shipped v0.41.0 release | AscendEX VIP fee structure for Hummingbot users | New DYP, PIVX, BitClout, DAO Maker, and Radix liquidity mining campaigns

Welcome to the Hummingbot Newsletter!

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 v0.41.0!

We are very excited to ship the July 2021 Hummingbot release (v0.41.0) today! This release contains:

  • 🆕 Spot connector: Gate.io

  • 🆕 TWAP Strategy

  • 🆕 Avellaneda Market Making Feature: Hanging Orders

  • 🆕 Rate Oracle Sources for KuCoin and AscendEX

    Read the release notes


🌊 Liquidity mining updates

Eight more AscendEX campaigns, $150K rewards

We have launched another eight eligible trading pairs for liquidity mining (Beta) on AscendEX! The newly added pairs are shown below: 

Exclusive Rebate on AscendEX for Hummingbot users

New and existing Hummingbot users on AscendEX will be able to take advantage of a favorable VIP fee structure. The campaign offers a 0 bps Maker and 5 bps Taker fee for new and existing Hummingbot users on AscendEX.

Use the Hummingbot referral link to register your AscendEX account to enjoy the favorable fee structure.

Learn more

New DYP, PIVX, BitClout, DAO Maker, and Radix liquidity mining campaigns

In the past month, we have launched new 12-week liquidity mining campaigns for DYP (Defi Yield Protocol) and PIVX. Encouraged by the initial results, DYP has increased its weekly reward to DYP 3,300, representing a 59% increase!

This month, we have launched a new 4-weekly campaign for BitClout on AsendEX with a US$25,000 reward pool, the BIGGEST for a single pair, and will be launching new campaigns for DAO Maker and Radix on July 20, 2021. Join early to earn bigger yields!

NEM, Symbol, and Frontier extended their liquidity mining campaigns

In June, NEM, Symbol, and Frontier have decided to extend their campaigns for 12 weeks. Keep mining, and earn rewards!

Join the campaigns

Liquidity mining: June recap

In June, we marked a major milestone by launching liquidity mining campaigns (beta) on AscendEX, our third supported exchange for Hummingbot Miner! In the first two weeks since the launch, more than 80 miners set up bots that traded over US$4 million and earned US$18,750 in rewards. This showcases the power of our community and how Hummingbot Miner offers a superior alternative to traditional market making.

The total filled order volume in June on Hummingbot Miner grew almost 6%, reaching a total cumulative value of approximately $2 billion!

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

We just launched our Twitch channel, where we will be live streaming bot testing occasionally and our weekly Hummingbot Live! Follow us, watch what we run, and have fun!

Follow us on Twitch


🍿 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 DeFi space has grown increasingly popular in recent years, this crypto fund manager shares their thoughts on avoiding pitfalls in DeFi.

Hummingbot Newsletter - June 2021

Hummingbot closes $8 million Series A | Shipped v0.40.0 release | Liquidity mining campaign updates

Welcome to the Hummingbot Newsletter! 

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.


🎉 Hummingbot closes $8 million Series A round 🎊

We are thrilled to announce that Hummingbot has raised $8 million in a Series A round led by Initialized Capital, one of the early backers of Coinbase. Other traditional VCs participated, including Slow Ventures, Arrington XRP Capital, as did strategic partners from across the cryptocurrency industry such as Borderless Capital, Three Arrows Capital, etc.

The Series A financing will allow us to scale and replicate the model we have created to more exchanges. In the near term, we are planning to launch Hummingbot Miner on AscendEX in June. Later this year, we are also planning to launch liquidity mining on OKEx and Huobi.

Learn more


🚀 Shipped Hummingbot v0.40.0!

We are very excited to ship the June 2021 Hummingbot release (v0.40.0) today! This release contains:


🌊 Liquidity mining updates

New DIVI, ShareToken, and DYP liquidity mining campaigns

In the past month, we have launched NEW 12-week liquidity mining campaigns for DIVI and ShareToken. The former one provides a reward pool of USDT 30,000, while the latter one provides ~US$15,000 in SHR tokens.

On June 22nd, we will be launching a new 12-week liquidity mining campaign for DYP (Defi Yield Protocol). The total reward will be ~US$15,000 in DYP tokens.

PHB liquidity mining is back! Join now.

Phoenix Global has decided to resume its liquidity mining campaign for another 3 months with a total reward pool of ~US$15,000 in PHB tokens! Have you participated in the previous PHB campaign? Join it and start earning rewards again!

Avalance, FIRO, NEM, Symbol and Frontier extended their liquidity mining campaigns

Impressed by our highly encouraging campaign performance, a few campaign partners have extended their campaign period, offering Hummingbot miners more opportunities to earn sizable rewards!

Join the campaigns


Liquidity mining: May recap

The past May has been a very volatile month for crypto markets. However, even in the most volatile markets, our community continued to support the liquidity for various campaigns.  

In May, the total filled order volume on Hummingbot Miner grew almost 24%, reaching a total cumulative value of $1.8bn! We also saw the largest daily traded volume with $33.8m traded on May 10, 2021, alone.

Check out our May stats!


🧪 Introducing the new Test Drive feature on our site

For some new users, testing out Hummingbot for the first time is hard. Now, we are excited to bring you Hummingbot Test Drive, which allows you to run Hummingbot in your browser and get a taste of it within a few mins!

Test drive now!


🎙️ 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


🍿 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 Defiant’s latest video summarizes some highlights from last week in the Defi and crypto landscape, including Hummingbot’s series A.

🥑 El Salvador becomes the first country ever to make bitcoin legal tender, allowing people to receive and make payments, and pay taxes in the bitcoin. On top of it, gains from bitcoin transactions will be excluded from capital gains taxes!


💬 Get involved!

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

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

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