Hummingbot Newsletter | December 2020
Released Hummingbot v0.34.0 featuring the new Uniswap, dy/dx & Terra connectors. Phoenix Global, Avalanche & Stratis liquidity mining campaigns, etc.
Welcome to the NEW 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 👪!
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🔥 Shipped Hummingbot v0.34.0!
We are very excited to ship Hummingbot v0.34.0! This release contains a bunch of highly requested new features and improvements:
New connectors for Uniswap, dy/dx, and Terra
Big improvements to the amm-arb and perpetual_market_making strategies
New commands: open_orders, pnl, trades
Bug fixes for crypto.com connector and more!
🙋♂️ CEO Note: The growing Hummingbot partner ecosystem
Dear bot-runners,
2020 has seen a big jump in the global Hummingbot community.
Thousands of people are installing Hummingbot every month, and there are now 8000+ Discord members, 1.5k+ YouTube subscribers, and 70 Github contributors to the codebase. Meanwhile, more than 1000 liquidity miners have participated on our Hummingbot Miner platform, where they can earn $13k+ of rewards across 18 campaigns every week.
While we have an awesome team of hard-working individuals all over the world who have contributed to this success, this wouldn’t be possible without all the partners in the Hummingbot ecosystem:
Centralized and decentralized exchanges: For each venue for whom we build connectors, such as Binance, KuCoin, Celo, and Balancer, we work with them to educate their communities about how to run Hummingbot.
Token issuers: Since liquidity mining relies on the power of the crowd, we work with participating issuers such as NEM and Algorand on joint marketing efforts like demo videos and AMAs on how to earn rewards on Hummingbot Miner.
Dev shops and trading firms: Finally, our partners also include trading firms like Linq and System9 who build and maintain Hummingbot connectors, as well as use Hummingbot to provide liquidity and run trading strategies.
While the Hummingbot partner ecosystem is nascent today, we have big plans for it in 2020. For instance, we plan to launch a partner portal that helps our partners succeed by connecting them to more resources and opportunities within the Hummingbot ecosystem.
By educating their communities about Hummingbot, building connectors, and providing liquidity, our partners play an essential role in enabling our small team to keep Hummingbot open source and sustainable.
Thank you to all of our partners for believing in our mission.
best,
Michael Feng
(@fengtality)
💰USDT 2.5k+ bonus rewards to 186 HARD liquidity miners
We are excited to let you know that we have paid out USDT 2.5k+ bonus rewards to 186 distinct miners who participated in the launch of the HARD campaign as promised in the email sent to you around Thanksgiving.
This was an extra and additional payment on top of the campaign's reward pool that Hummingbot paid out to users, to show our appreciation of the community's participation and support.
The amount paid out to each miner was pro-rata based on the rewards miners earned from November 10 to November 24. Over this period, we experienced some system issues due to increased user load as a result of newly launched and recently launched campaigns.
We also rounded up bonus payments for smaller miners so that each miner received at least USDT 5. Any users who earned any amount of rewards (even $0.00001) received a USDT 5 bonus reward. We hope to encourage new users, even if only trying out the platform or initially trading smaller amounts, to continue participating in liquidity mining!
🛎️ Aggregate trade data collection starting with v0.34.0
To sustain the development of the open-source Hummingbot client, we partner with exchanges and protocols to build connectors and/or strategies. These partners need actionable data to convince their stakeholders and community members that a Hummingbot integration is worth the investment. Since the Hummingbot client doesn’t currently collect any data, we currently can't answer these questions well and rely on guesstimates based on volume measured on the Hummingbot Miner platform. For these reasons, beginning with Hummingbot version 0.34, a “heartbeat” data collection mechanism will be implemented. The "heartbeat" will send aggregate trade volume data to Hummingbot servers every 15 minutes.
We hope you understand that this mechanism will vastly improve the Hummingbot ecosystem in the long run. Thank you again for your support.
Note: We only collect aggregated, anonymized data and not any personally identifiable data.
🏫 New Hummingbot Academy layout
In the past October, we launched Hummingbot Academy, a knowledge hub where we are constantly adding new educational content to help you learn the ropes about crypto market making, arbitrage, and how to make better use of Hummingbot.
Now we are bringing the learning experience to the next level! With the newly updated Hummingbot Academy layout, you will be able to filter the content and easily discover the content you are looking for by selecting your knowledge level and/or picking the specific topic using tags or the search bar.
In the future, content-wise, we plan to provide more guidance on how to create custom strategies on Hummingbot and share examples of custom scripts. We also plan to open the space for Hummingbot community members who want to contribute educational content to Hummingbot Academy and share their learnings. If you are interested in contributing, shoot an email to yingdan@hummingbot.io.
🧑🏫 How to arbitrage AMMs like Uniswap and Balancer?
With the release of v0.33, we have added a new decentralized exchange connector and a new amm-arb strategy that allows you to execute arbitrage trades on the automated market making protocols. With new Uniswap and Terra connectors included in our latest release v0.34, you can now arbitrage on the four different protocols.
While arbitraging between two centralized exchanges with centralized order book (COB) is pretty simple to execute, decentralized exchange trading arbitrage works a bit differently. Executing a profitable arbitrage strategy requires a better understanding of these mechanisms.
Our latest Hummingbot Academy post will help you navigate these fundamental differences and build your first AMM arbitrage strategy.
🆙 November recap & new liquidity mining campaigns
The past November was filled with major milestones for Hummingbot Miner
The total number of unique users surpassed 1,000, reaching 1,019 at the end of the month
Largest ever monthly traded volume recorded: $62 million in November, bringing total traded volume over $200 million to $204 million.
All-time highs for daily average open order volume ($192k, order book depth) and number of bots (314)
We saw a 20% growth in user base, with 66% growth in weekly active miners in the month
In early December, we have been very excited to add two new 6-month campaigns to our miner platform - liquidity mining campaigns for Phoenix Global and Ava Labs’s Avalanche platform with a reward pool of USD 30,000 and USD 36,000 respectively. You can find more details here.
In addition, due to great participation and terrific results, starting this week, NEM will add the XEM/USDT pair into liquidity mining and will divide the total reward pool of 13,800 XEM equally among the 3 eligible pairs.
🌊⛏️ Liquidity mining webinars and tutorials
We have been working closely with our issuer partners to create branded educational content that makes liquidity mining accessible by anyone. Since Hummingbot liquidity mining is a community-driven approach to liquidity provision, creating targeted educational content is critical to growing the user base and drive adoption for both the liquidity mining community and the issuer’s token community.
In the past month, we’ve worked with Stratis and Avalanche to host two successful live webinars demonstrating how a new liquidity miner can participate in these two campaigns and earn rewards. Check out these webinar replays below:
To encourage more participation and help interested miners navigate Hummingbot’s advanced market making features, we have recorded this advanced market making tutorial video with Nick Pelecanos, Head of Trading at NEM. Click the above video to learn more!
If you are interested in collaborating with Hummingbot for liquidity mining campaigns or branded educational content on crypto trading, please reach out to us!
🤚 Unveiling the result of the governance proposal #3
Thanks again to everyone who participated in our 3rd governance proposal. The winner exchange is Bitstamp! As we did with Loopring and dy/dx, we will work with the Bitstamp connector developer to get it merged into the next release.
Going forward, the last week of each release will feature more governance proposals that let you influence the Hummingbot roadmap. Your number of votes is based on the total amount of mining rewards you earned in the prior week of Hummingbot Miner.
Want to have a say in Hummingbot governance? Make sure to participate on the Hummingbot Miner! Even if you only earn $0.00001 in rewards, we round up so that you have at least one vote.
🍿 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's Financial Alchemy: Will liquidity providers be better off than HODLers due to so-called volatility harvesting?
🧃 Facebook’s Libra rebrands to “Diem”: “GlobalCoin” ➡️ Libra ➡️ Diem
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