Announcing AscendEX liquidity mining (Beta) with the biggest reward pool

Announcing AscendEX liquidity mining (Beta) with the biggest reward pool

Blog»Announcing AscendEX liquidity mining (Beta) with the biggest reward pool

Ascendex beta launch color revision1

Yingdan Liang

2021-06-18 · 5 min read

We are super excited to announce the official launch of liquidity mining on AscendEX (previously known as BitMax) with the BIGGEST ever reward pool of USDT 200,000! 

We will be launching new liquidity mining campaigns (Beta) on AscendEX with a total reward pool of USDT 200,000 for 10 eligible pairs! The first two campaigns will be launched on June 22, 2021 for BTC/USDT and ETH/USDT pairs. Eight more pairs will be coming to Hummingbot Miner soon. Make sure to join every campaign to earn big rewards!

The launch of liquidity mining on AscendEX, our third supported exchange for Hummingbot Miner, marks one more step further to achieving our mission to scale liquidity mining to most major exchanges as we are planning to add on several more this year.

Beta period: note that this initial launch on AscendEX is a beta testing period, which will allow us to test out the infrastructure. Miners are still earning rewards as per usual campaigns. 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. 

Join liquidity mining on AscendEX

Hummingbot boasts successful experience launching and managing liquidity mining campaigns on leading cryptocurrency exchanges such as Binance and KuCoin. The 19 campaigns we’ve launched to date on Binance have brought token issuers $1.7-billion total filled order volume with ever-growing open order volume peaked at $1.1 million. The eight campaigns on KuCoin have created a $107-million filled order volume with a consistent open order volume of $100K on average. Highly motivated by these encouraging results, we are confident to bring liquidity mining to the next level by the AscendEX launch.

The liquidity mining launch bears strategic significance for both AscendEX and Hummingbot by unlocking endless exciting opportunities for both token issuers and crypto traders (i.e. liquidity miners). For issuers who list their tokens on AscendEX, Hummingbot Miner offers a cost-efficient, data-driven, and community-oriented alternative for liquidity provision. Benefits of a liquidity mining campaign include but are not limited to promoting token liquidity and price discovery, and increasing the project exposure and awareness. For traders, the additional exchange integration provides miners a new playground to learn new projects, compete with fellow miners, have fun, and earn more rewards as the total campaigns available increase. 

Campaign Terms²

  • Start date: 

    • June 22, 2021, 12:00 AM UTC for the BTC/USDT and ETH/USDT pairs

    • Eight more pairs will be announced soon

  • Eligible token pairs: 

    • BTC/USDT: USDT 30,000 for 8 weeks

    • ETH/USDT: USDT 20,000 for 8 weeks

  • Eligible orders: maker orders placed with spreads of 1% or lower (subject to change)

  • Exchange: https://ascendex.com/(use this Hummingbot referral link to set up your new AscendEX account to support our project!)

What’s next?

As mentioned above, we will be announcing eight more eligible pairs for liquidity mining on AscendEX, so definitely stay tuned!

With the launch of these new Beta campaigns, we will be also in discussion with a few token projects about the potential collaboration for AscendEX liquidity mining campaigns. In the next few months, more liquidity mining campaigns will be coming to AscendEX!

About AscendEX

AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.

To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.Ascendex.com


*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 AscendEX, Binance.com, KuCoin, 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!

Related Posts

Why should liquidity mining be part of your token marketing strategy?

Why should liquidity mining be part of your token marketing strategy?

New milestone: $2bn filled order volume

New milestone: $2bn filled order volume

6-month extension for the iExec liquidity mining campaign

6-month extension for the iExec liquidity mining campaign

About Hummingbot

Who we are and why we are building Hummingbot.

Learn more

  • Hummingbot

    Home
  • Liquidity Mining

  • Company

  • Community

  • Legal

  • © 2021 CoinAlpha, Inc.

    Get Newsletter