We are thrilled to announce a new 6-month liquidity mining campaign for Ava Labs’s Avalanche platform that will start on December 8, 2020, 12:00 am UTC. The Avalanche liquidity mining campaign will initially be distributing USDT rewards and will transition to the AVAX token.
In this post, we are going to introduce Avalanche to the Hummingbot community and give both the Hummingbot and Avalanche communities an overview of the upcoming campaign.
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. It is the first smart contracts platform that confirms transactions in under one second, supports the entirety of the Ethereum development toolkit, and enables millions of independent validators to participate as full block producers.
Led by Professor Emin Gün Sirer, creator of the first coin minted through proof-of-work in 2003, and supported by pioneering researchers from Cornell University, Avalanche is built on the third major breakthrough in distributed systems, and first since the Bitcoin whitepaper in 2008.
AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the network through staking, and provide a basic unit of account between the multiple subnetworks created on the Avalanche platform.
Since launching mainnet on September 21, Avalanche has over 630 full, block-producing validators participating in-network consensus, and an additional 2,500 delegators participating in staking. Collectively, they account for over $1B in AVAX staked to secure the network.
Avalanche is backed by leading investors, including Andreessen Horowitz, Initialized Capital, Galaxy Digital, Polychain Capital, Bitmain, Naval Ravikant, and Balaji Srinivasan (former CTO of Coinbase), and raised $42M in just 4.5 hrs in a public sale this July.
Liquidity mining is a decentralized approach to liquidity provision, allowing anyone to participate in the market making activities previously only possible for institutional traders and hedge funds. Equipped with Hummingbot, the open-source crypto trading software, participants will be able to surpass the technical barrier, make markets, and get rewards. The rewards are calculated based on a data-driven, objective methodology that aligns the risk participants take with the reward they will get.
The Avalanche liquidity mining campaign rewards participants for placing maker orders in four eligible AVAX token pairs to increase their order book depth, a key determinant of liquidity. With a reward pool of USD 36,000, this campaign will appeal to both existing AVAX token holders in the Avalanche community and active crypto traders in the Hummingbot community.
Start date: December 8, 2020 12:00am UTC
Total reward pool*: USD 36,000 for 24 weeks (USD 1,500/week)
Reward token: USDT for the first four weeks, transitioning to an approximately equivalent amount in AVAX tokens from the 5th week
Eligible token pairs and the reward allocation:
AVAX/USDT: USD 600/week
AVAX/BTC: USD 600/week
AVAX/BNB: USD 300/week
AVAX/USDT: USD 500/week
AVAX/BTC: USD 500/week
AVAX/BNB: USD 250/week
AVAX/TRY: USD 250/week
Eligible orders: maker orders placed with spreads of 2% or lower
*For full terms of the campaign, please see liquidity mining campaign terms.
To learn more about liquidity mining, see below:
Hummingbot Miner’s app: current liquidity mining campaigns
Getting started with Hummingbot
Please review the Liquidity Mining Policy for the full disclaimer, including policies related to the use of Hummingbot.
The content of this Site does not constitute investment, financial, legal, or tax advice: none of the information contained on this Site constitutes a recommendation, solicitation, or offer to buy or sell any digital assets, securities, options, or other financial instruments or other assets, or to provide any investment advice or service.
No guarantee of profit: CoinAlpha does not claim that liquidity mining and participation in liquidity mining campaigns will be profitable, however measured, for the user. Liquidity mining yields are a measure of rewards compared to assets used for liquidity mining, excluding any gains or losses incurred from the underlying trading strategy.
Eligibility requirements: participation in liquidity mining is subject to eligibility requirements as specified in the liquidity mining policy.
Campaign terms subject to change: terms may be modified over the course of the campaign. We will announce any changes, if any, on our discord and reddit; the most up to date terms will also be posted on the liquidity mining campaign terms and the miners app.