FIRO to extend its liquidity mining campaign

Blog»FIRO to extend its liquidity mining campaign
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Yingdan Liang

2021-03-16 · 3 min read

Since we relaunched liquidity mining for FIRO (Formerly known as Zcoin) 3 weeks ago, we have seen 145 distinct individual miners participate in the campaign to promote FIRO token’s liquidity and earn rewards. Hummingbot miners constantly accounted for as much as 50% of the FIRO/ETH trading volume on Binance and around 10-20% for the other two pairs’ trading volume. The total filled order volume reached US10mm, over US3.3mm per week with a weekly reward of FIRO 480 showcasing a budget-friendly liquidity provision option.

As both the Hummingbot and FIRO teams are quite pleased with the campaign’s performance, we have decided to extend the FIRO liquidity mining campaign for another month and the campaign is subject to further extension! We hope you will keep participating and we encourage new users to join 145 miners to earn rewards!

The updated reward schedule is as below:

  • FIRO/BTC: 159 FIRO/week

  • FIRO/USDT: 159 FIRO/week

Summary stats of the FIRO liquidity mining campaign as of March 15th, 2021

Below are some of the key metrics of the past campaign period:

  • 145 distinct users participated and earned rewards

  • Liquidity miners have accounted for as much as 16% of total daily FIRO trading volume on Binance

  • Liquidity miners accounted for ~US$10mm of filled order volume

  • Open order book volume created by miners peaked at US17.7K for the FIRO/USDT pair, US14.9K for the FIRO/ETH pair and US$15.2K for the FIRO/BTC pair

Detailed statistics (as of March 15th, 2021) are presented below:

We have witnessed consistent growth in the number of miners participating in the FIRO campaign, with a total of 145 unique users participating to date.

miner

Hummingbot miners are currently accounting for around $44k of consistent, average order book volume at spreads of less than 2% or tighter.

oov

The weighted average miners spreads have consistently and generally been tighter than 1%. The lower lines are bid spreads, higher lines are ask spreads.

spread
price

*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.

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