Hummingbot Newsletter - May 2022
🗣️ Garry Tan explains Hummingbot | 🚀 Hummingbot 1.4.0 release | 🎥 New explainer vids | 💡 HBOT ideas
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!
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🗣️ Garry Tan explains how Hummingbot Foundation works
Check out the video 🔽, in which prominent Silicon Valley VC Garry Tan interviews Hummingbot co-founder Michael Feng about Hummingbot.
Garry explains how Hummingbot Foundation’s DAO structure lets our army of decentralized quant traders and market makers level the playing field with Citadel, Jump, and other large high-frequency trading firms.
Please watch and share with your network!
🚀 Shipped Hummingbot v1.4.0!
We are very excited to ship the May 2022 Hummingbot release (v1.4.0) today! This release adds the much-awaited Gateway V2, which is a major overhaul to the Gateway system, in which Hummingbot uses to communicate with decentralized exchanges such as Uniswap and Pangolin. Now, users can arbitrage between DEX and CEX with no development experience needed.
Read the new Gateway docs and watch the video below!
Another much-anticipated feature included in this release is the simplified version of the trading strategies called Scripts. Scripts are intended to be used without requiring a configuration, thus allowing users to create and customize Hummingbot strategies more easily.
Read the new Scripts docs and watch the video below!
In addition, there were numerous fixes for critical bugs that users have reported, including to the Bybit connector, as well to the TWAP, Cross-Exchange Market Making, and Pure Market Making strategies.
📒 April 2022 monthly report
We continue to publish a monthly report that lists sources and uses of funds for the Hummingbot Foundation along with other key metrics. Highlights from April:
The Foundation collected $40,658 in fees from exchange partners and paid out $46,126 to community maintainers and staff, resulting in a net loss of $5,498.
During the month, aggregated, anonymized trade volume reported from Hummingbot clients totalled $2.7 billion (reflecting some impact of a data hole that was resolved on April 5). Binance was the top exchange with $1.9 billion
20 exchanges reported $2 million+ in volume, including FTX, ProBit, Bybit, and dYdX.
In the future, we plan to expose the reported data from heartbeat as a public endpoint that the Hummingbot community can consume and visualize.
🎥 New community-generated videos
We are excited to showcase some 👪 community-generated videos that explain how to use core Hummingbot strategies:
Also, here’s a video from CoinAlpha solutions engineer Owen that introduces a bleeding-edge, experimental feature that he and long-time community member TheHolyRoger built to dictate Hummingbot’s behavior from TradingView and exposes all the power and customizability of PineScript to control Hummingbot instances.
If you’re interested in contributing videos, guides, and other content to the Hummingbot community, please reach out to one of our community managers on Discord or our Commonwealth forum.
💡 Seeking feedback on HBOT ideas
After publishing the Hummingbot Foundation Roadmap 2022 last month, we have shared the ideas below in the Commonwealth community forum that might help realize the roadmap while also improving utility for HBOT holders.
Please give us feedback on these ideas in the forum or on Discord!
💡 Exchange Certification with HBOT Staking: Hummingbot Foundation proposed an idea to implement a certification process for the exchanges. The certified exchanges would have distinct advantages such as continual support and testing by the Foundation team, prominence in exchange listing in various places, and inclusion in monthly trading competitions (see below). To gain the benefits of certification, exchanges would need to stake HBOT for duration of the certification period.
💡 Monthly Trading Competitions with HBOT Rewards/Staking: As a companion to the idea above, we also proposed to run monthly trading competitions that rewards Hummingbot users with HBOT tokens for supplying trading volume to one of the Certified Exchanges, decided by a monthly community vote. To participate in competitions, users would simply need to add their Ethereum wallet address as their Hummingbot client instance_id and ensure that the heartbeat anonymized data collection feature is enabled.
💡 Earning HBOT with User-Generated Strategies: Similar to the trading competitions for featured exchanges idea above, we could also collect anonymized trading volume from Hummingbot clients by strategy (provided the community believes it is worthwhile to collect strategy_name as an additional field), which would enable the Foundation to track and rewards community usage of user-generated strategies.
We invite the community to provide feedback & comments on the above threads. If the community thinks those are good ideas, the next step would be to submit a governance proposal and, if it's approved, start implementing the process with the June or July release.
☎️ Upcoming community call
In order to showcase new exchanges / strategies added to the Hummingbot codebase and to engage with our community more broadly, we have started to hold regular Community Calls on our Discord server.
When: Tuesday June 7th, 3pm GMT / 8am PST
Where: Hummingbot Discord - event link
Agenda:
Hummingbot Governance Updates
Gateway V2 Overview
Scripts Demo
Technical Review DAO Report
📓 New documentation pages
We continue to improve the Hummingbot documentation. Recent highlights include:
New ℹ️ More Resources section in each strategy doc page (example)
Developer docs for building exchange connectors and the connector QA testing process
Gateway explains how to configure the new Gateway-V2 DEX connector module
Developers / Gateway explains how developers can setup Gateway-V2 and add their own DEX connectors
Scripts has been modified to add documentation for the new, generalized form of Scripts that offer users an easier alternative to creating a full-blown strategy.
PMMScripts: The older version of Scripts that only worked with the PMM strategy has been renamed to PMMScripts and is still supported
Active Governance Proposals lists HGPs that have been approved and are currently active
HBOT Allocation Report under Reporting that gives the community an overview of how HBOT tokens have been allocated through HGPs
Staging Bug Hunt describes the process for testing monthly release candidates and how the community can earn HBOT tokens for finding and fixing bugs!
❌ Don’t fall for HBOT scams!
Finally, we have seen reports of scammers DM-ing users on Discord, Twitter and other channels advertising fake HBOT token sales.
Hummingbot Foundation has never conducted any pre-sale or sale of HBOT tokens, and anyone purporting to offer HBOT tokens is a scammer.
The only way to get HBOT tokens from the Foundation is to earn them via approved Hummingbot Governance Proposals and Hummingbot Improvement Proposals.
Further, there was a series of bot spammers that joined the community and impersonated the names & profile of Hummingbot Foundation team members.
Please report any such scams to our community managers on Discord, and we will ban them immediately and notify our community.