Liquidity mining: March recap
Liquidity mining: March recap
Blog»Liquidity mining: March recap
In March 2021, the Hummingbot platform continued its impressive growth, with the highest filled order volumes and rewards for miners to date. The number of distinct miners grew 19.4% last month, from 1,622 to 1,937, with 315 new miners participating on the platform and earning rewards.
This increase in miner activity reflects the growing knowledge and ability of the participating community of traders and developers, as well as the quickly growing momentum behind Hummingbot software and strategies. The increase in the reward pool also reflects growing adoption and confidence in token issuers in using Hummingbot Miner to support and promote liquidity for its tokens.
Through March 31, 2021
Filled order volume surpassed $1.15bn
Total distinct miners surpassed 1,937! 315 new miners signed up and earned rewards in the month of March alone!
$516k equivalent cumulative rewards paid out, compared to $272k in January
The top ranked miner has earned the USD equivalent of $93k in total rewards
Liquidity mining rewards were paid out in a combination of USDC, USDT, ALGO, XEM, and others. As the Hummingbot Miner platform expands, we expect that more rewards will be paid out in native tokens.
Liquidity mining campaign updates:
Impressed by the great participation from the Hummingbot community, on March 9, NEM decided to bring its liquidity mining campaign to KuCoin with a total monthly reward pool of approximately $5,000
On March 30, the KuCoin liquidity mining campaign was launched for Symbol, NEM’s new enterprise-facing Proof-of-Stake blockchain platform
The Conflux liquidity mining campaign on Binance was announced March 31, and will start on April 6, 12:00 AM UTC
Frontier decided to extend its liquidity mining campaign on Binance and launch a new campaign on KuCoin with rewards worth of $75k
The SCRT wallet was also enabled for SCRT payouts
Hummingbot rolled out an improvement to the earnings chart, separating earnings for different exchanges
The first payouts for the XYM campaign on Kucoin will be on April 9, less than a month after the token was created, continuing Hummingbot’s history of support for new token listings
As of March 30, 1,914 distinct miners had participated in Hummingbot liquidity mining.
On the last day of March, the daily average for bots running across campaigns was 820.
Liquidity (Open Order Volume)
Outstanding liquidity peaked at over one million USD equivalent on March 21.
The average outstanding liquidity per campaign also climbed to $79.3k on March 21.
Volume (Filled Order Volume)
The cumulative filled order volume across exchanges reached $1.15bn in March, increasing nearly 4x since the start of the year.
Filled Order Volumes on Binance
The filled orders on Binance campaigns encompassed a rapidly increasing range of assets, while the total filled volume for all tokens surpassed a billion USD equivalent in March.
The daily filled order volume on Binance saw some tremendous spikes due to market volatility, with high activity throughout the month.
Filled order volume: March 3, 2020 to March 31, 2021
Hummingbot miners comprised impressive percentages of Binance filled order volume totals.
Filled Order Volumes on Kucoin
Hummingbot and Kucoin announced a new campaign for the XYM token in March, which has just begun contributing to the total volume of filled orders.
ALGO also took the lion’s share of filled volume in the Kucoin liquidity mining campaign.
A single day saw $1.9m of filled order volume by miners across Kucoin campaigns!
Kucoin also saw strong filled order volume through March, as expressed as a percentage of volume by base asset, with Hummingbot miners comprising 40% of XYM traded volume on Kucoin by the end of the month.
Note: Liquidity mining does not reward for filled order volume nor does it guarantee a certain amount of filled order volume. The above figures are based on historical data from currently running and historical liquidity mining campaigns.
The top ten miners, as of March 31, have been awarded a total of $245k equivalent in payouts.
One of the main focuses and goals for the year is to expand Hummingbot Miner to many more exchanges. The next exchange we are working on integrating is BitMax.
We are constantly looking for UI/UX improvements for the miner app. Currently, we are working on a dark mode, and additional re-designs and improvements to the market view. We welcome any feedback and suggestions at email@example.com or join our team in discussions on our discord server.
The growth of the total number of bots across a diverse spectrum of base assets shows the health of the Hummingbot ecosystem, thanks to its increasing and energetic base of dedicated users and developers.
🏛 Token issuers: contact the team at firstname.lastname@example.org 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 email@example.com if you’d like to bring Hummingbot and liquidity mining to your exchange!
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