🌊⛏Launching BTC & ETH Liquidity Mining Campaigns (Beta) on KuCoin

Blog»🌊⛏Launching BTC & ETH Liquidity Mining Campaigns (Beta) on KuCoin

Yingdan Liang

2021-01-20 · 5 min read

We are thrilled to finally be kicking off liquidity mining to KuCoin.

We will be launching new liquidity mining campaigns (Beta) for BTC and ETH on KuCoin with a total reward pool of USDT 15,000 sponsored by Hummingbot on February 2nd, 2021! The launch of liquidity mining on KuCoin, our second supported exchange for Hummingbot Miner, marks a major milestone for us, demonstrating our ability to scale liquidity mining to bring more campaigns and support more exchanges in the near future. This is the first of many, as we are planning to add on several more exchanges this year.

Beta period: note that this initial launch on KuCoin is a beta testing period which will allow us to test out the infrastructure. What does this mean for miners? Miners are still earning rewards as per usual campaigns. But during this time, we will be collecting feedback from users and regularly updating miners and the community on system performance or any issues that may be encountered.

Why liquidity mining on KuCoin?

Liquidity mining on KuCoin unlocks exciting opportunities for both token issuers and liquidity miners.

For issuers whose tokens are listed on KuCoin, it offers a cost-efficient, data-driven, and decentralized approach to improving liquidity for their tokens. Benefits of a campaign for token issuers include:

  • promoting liquidity in terms of the order book depth, and token trading efficiency

  • enabling price discovery: the more traders that are actively market making, the more efficiently this process of price discovery can occur

  • engaging hundreds of quant/algo traders from the Hummingbot community

  • rewarding existing token holders who participate, and giving back to the community

For liquidity miners, the additional exchange integration provides more venues for miners to participate in liquidity mining and earn more rewards as the total rewards pools available increase.

Campaign Terms²

  • Start date: February 2nd, 2021, 12:00 AM UTC

  • Total reward pool*: USDT 15,000 for 12 weeks (USDT 625 for each eligible token pair per week)

  • Eligible token pairs: BTC/USDT and ETH/USDT

  • Eligible orders: maker orders placed with spreads of 2% or lower

  • Exchange: kucoin.com

0 maker fee for Hummingbot users new to KuCoin

As part of our partnership with KuCoin, Hummingbot users who set up a new account to trade on KuCoin will benefit from 0% maker fees and 0.07% taker fees for 3 months!

Trading fees, particularly for high frequency, algorithmic trading can incur significant costs and impact profitability. We believe that this VIP promotion will be very beneficial for our users!

In order to qualify, please send an email to vip@kucoin.com and let them know that you are a Hummingbot user. Note that this only applies to new accounts.

What’s next?

Harmony, the old friend of liquidity mining, plans to roll out a campaign on KuCoin with a reward pool of US$5,000 in the near future.

With the launch of these new Beta campaigns on KuCoin, we will be able to collect feedback and optimize our core Hummingbot Miner infrastructure for new supported exchanges. In addition, we are already in discussion with a few more token projects about the potential collaboration for KuCoin liquidity mining campaigns. In the next few months, you can expect that more liquidity mining campaigns will come to KuCoin. Stay tuned!

About KuCoin

KuCoin is a leading centralized exchange that opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2020. The KuCoin Exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018, “The People’s Exchange” officially partnered with IDG Capital and Matrix Partners.

*For full terms of the campaign, please see liquidity mining campaign terms.

To learn more about liquidity mining, see below:

Important notes and disclaimers

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.

  1. Eligibility requirements: participation in liquidity mining is subject to eligibility requirements as specified in the liquidity mining policy.

  2. 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.

🏛 Token issuers: contact the team at partnerships@hummingbot.io to learn more about running liquidity mining campaigns on Kucoin, Binance.com, or to suggest the next exchange for us to integrate with!

🏦 Exchanges: contact partnerships@hummingbot.io if you’d like to bring Hummingbot and liquidity mining to your exchange!

DISCLAIMER: The websites located at https://hummingbot.io, https://docs.hummingbot.io, https://miners.hummingbot.io (collectively, the "Site") are copyrighted works belonging to CoinAlpha, Inc. ("Company", "us", "our", and "we"). Certain features of the Site may be subject to additional guidelines, terms, or rules, which will be posted on the Site in connection with such features. All such additional terms, guidelines, and rules are incorporated by reference into these Terms. These terms of use (these "Terms") set forth the legally binding terms and conditions that govern your use of the Site. By accessing or using the Site, you are accepting these Terms (on behalf of yourself or the entity that you represent), and you represent and warrant that you have the right, authority, and capacity to enter into these terms (on behalf of yourself or the entity that you represent). You may not access or use the Site or accept the terms if you are not at least 18 years old. If you do not agree with all of the provisions of these terms, do not access and/or use the Site.