Since we launched liquidity mining for Mainframe (now rebranded to Hifi) last June, we have seen great participation and consistent growth in trading volume. To date, the campaign has attracted 388 distinct individual miners in total to promote liquidity for mainframe’s MFT token. At times, Hummingbot miners accounted for as much as 62% of total MFT trading volume on Binance and the daily filled order volume reached US$7.8mm at the peak. Both the Hummingbot and Mainframe teams are quite pleased with the campaign’s performance and community engagement and the many meaningful milestones achieved by our communities!
As a big supporter of this community-driven approach and Hummingbot, Mainframe (now Hifi) has decided to extend its liquidity mining campaign for another 3 months with a total reward pool of USDT 9,000 (USDT 750 per week) ! We hope you will keep participating in the campaign and we encourage new users to join and earn rewards!
“Hummingbot is a community sourced liquidity platform. They are our preferred liquidity provider that we love working with.” -- Doug Leonard, CEO of hifi.finance/mainframe
Below are some of the key metrics of the past campaign period:
As of February 16th, 2021, 388 distinct users participated and earned rewards
Liquidity miners have accounted for as much as 62% of total daily MFT trading volume on Binance
As of February 16th, 2021, liquidity miners accounted for US$120.3mm of filled order = volume, averaging around US$ 3.6mm of weekly volume
Open order book volume created by miners peaked at US34K for the MFT/ETH pair, US 30K for the MFT/BTC pair and US$28K for the MFT/USDT pair
Detailed statistics (as of February 16th, 2021) are presented below:
We have witnessed consistent growth in the number of miners participating in the Mainframe campaign, with a total of 388 unique users participating to date.
Hummingbot miners are currently accounting for around $65k of consistent, average order book volume at spreads of less than 2% or tighter. This campaign has successfully garnered the interest of a diversified group of liquidity miners, which greatly increases the order book depth and price discovery of this token.
The weighted average miners spreads have consistently and generally been tighter than 1.5%. The lower lines are bid spreads, higher lines are ask spreads.
While the campaign does not reward for filled order volumes, the order book depth created by Hummingbot miners has generated $120 million of total traded volume since the start of the campaign.
Participation in the MFT campaign has also been spread across a large group of users. Only 3 users have earned more than 5% of the total reward pool. This campaign has enabled a community of smaller traders to participate and earn rewards.
Mainframe will be doing a token swap soon as it has rebranded to Hifi. We will work closely with the Mainframe team to support the successful swap and launch of the new token and hope to extend the liquidity campaign to the new Hifi tokens. Stay tuned!
Mainframe (now Hifi)’s Lending Protocol allows anyone to borrow against their crypto by leveraging collateral assets approved by Mainframe Governance. Mainframe uses a bond-like instrument, representing an on-chain obligation that settles on a specific future date. Buying and selling the tokenized debt enables fixed-rate lending and borrowing — something much needed in decentralized finance today. Mainframe Governance is the community organized process of managing the various aspects of the Lending Protocol. Unique to the Mainframe Lending Protocol is the liquidation mechanism, rehypothecation of collateral accounts, and an incentivization layer powered by staking the Mainframe Token (MFT). The system avoids unnecessary sell pressure during liquidations. Together, the strategies for rehypothecation, liquidation, and settlement enable lower collateral requirements and allow for a more efficient increase in leveraged exposure to base assets.
Since late 2017, Mainframe has had one of the largest communities supporting its mission of economic freedom and financial access. Mainframe is backed by the top names in VC and Crypto, including ArringtonXRP, NEO Global Capital, FBG, Shapeshift's Erik Voorhees, ICON's Min Kim, Ethereum's Gavin Wood, Zilliqa's Xinshu Dong, and many many more.
*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.
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.