We are excited to announce a new liquidity mining campaign for Secret Network that will start on January 26th, 2021 12:00 am UTC. The Secret liquidity mining campaign will distribute a total reward pool of USDT 30,000 over 24 weeks. In this post, we are going to introduce Secret Network to the Hummingbot community and give both the Hummingbot and Secret communities an overview of the upcoming campaign.
Secret Network is the first blockchain with privacy-preserving smart contracts. That means applications built on Secret can utilize encrypted data without revealing it to anyone, even the nodes in the network. For the first time, Secret Network allows developers to build powerful, permissionless, privacy-preserving applications - Secret Apps. The privacy functionality of Secret Network is critical for many fields, including decentralized finance, Web3, machine learning, access control, and many more.
Blockchains are public by default. That means that all the data used in smart contracts is exposed to everyone. For blockchain technology to achieve global adoption, users and organizations need control over how their data is used – they can’t just expose it to everyone. Secret Network solves the problem of privacy, helping to secure and scale the decentralized web.
Secret Network is supported by many independent development teams and entities, including Enigma, Secret Foundation, Secretnodes.com, Chain of Secrets, and many more. Learn more about the ecosystem at: https://scrt.network
The Hummingbot team is very excited to work with Secret Network to launch this liquidity mining campaign because:
It is a community-based method to promote SCRT token liquidity; it rewards traders for placing maker orders in SCRT tokens based on real trading activities and reliable liquidity metrics.
It enables Secret Network to tap into Hummingbot’s strong liquidity miner/quant trader community.
It creates a new way for existing SCRT holders to contribute to the project by getting involved in market making for SCRT and earning rewards from doing it.
Start date: January 26, 2021 12:00am UTC
Total reward pool*: Total USDT 1,250 / week for 24 weeks
SCRT/BTC: USDT 625 / week
SCRT/ETH: USDT 625 / week
Eligible token pairs: SCRT/BTC, SCRT/ETH
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:
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.