We are excited to announce a new 6-month liquidity mining campaign for Phoenix Global that will start on December 8, 2020, 12:00 am UTC. The Phoenix Global liquidity mining campaign will initially be distributing USDT rewards and will transition to the PHB token.
In this post, we are going to introduce Phoenix Global to the Hummingbot community and give both the Hummingbot and Phoenix Global communities an overview of the upcoming campaign.
Phoenix Global (PHB) is a cryptocurrency, which has been listed on 7 markets. It operates on the Neo platform. The project comprises a blockchain explorer, an insights platform covering China's financial and capital markets, and a horizon protocol, which is a DeFi platform facilitating the creation of on-chain synthetic assets representing the real economy. More information: https://www.phoenix.global/.
Liquidity Mining allows market making to be done in a transparent and fair manner and frees the project from having to lock up funds with expensive professional market makers. Our previous liquidity mining campaigns have proven that a group of individual liquidity miners have the potential to provide liquidity to token projects as well as a professional market maker can.
Phoenix Global Liquidity Mining Campaign rewards participants for placing maker orders in PHB tokens (In some markets, it is listed as PHX), thereby contributing to order book depth. Powered by the open source Hummingot software client, a group of individual users can utilize their own cryptocurrency holdings and computing resources to provide liquidity for the PHB token. This community-based approach empowers existing PHB token holders, while at the same time allowing the Phoenix Global project to engage the broader crypto trader community.
Start date: December 8, 2020 12:00am UTC
Total reward pool*: USD 30,000 for 24 weeks
Reward token: initially USDT, later transitioning to an approximately equivalent amount in PHB tokens
Eligible token pairs:
PHB/TUSD: ~USDT 830 (⅔ of the reward pool)
PHB/BTC: ~USDT 420 (⅓ of the reward pool)
maker orders placed with spreads of 2% or lower for PHB/TUSD
maker orders placed with spreads of 10% or lower for PHB/BTC
*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.