Liquidity Mining: September recap

Blog»Liquidity Mining: September recap
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Dennis Buyco

2021-10-05 · 7 min read

In the month of September, we had a slight decrease of liquidity and active bots versus last month due to the fact that the majority of the AscendEX sponsored campaign ended. However, both numbers started recovering by the end of month, as multiple campaigns started on both KuCoin and AscendEX exchanges.

Monthly stats highlights

In the month of September, total filled order volume on Hummingbot Miner grew more than 8%, reaching a total cumulative value of more than $2.45bn!

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  • Order volume has nearly reached $2.45bn, a 8% increase month over month.

  • The total number of unique miners hit 3,302! Another 178 new miners joined and earned rewards in September.

  • The total rewards from all exchanges topped $1.6m!

  • The weekly rewards reach a new all time high of $70.4k!

New campaigns and extensions

  • We’re very excited to announce a new 12-week liquidity mining campaign for Kava Swap with a $30,000 reward pool!

  • Hummingbot is keeping eight of the most popular trading pairs active by sponsoring a 6-week campaign with a $60,000 total reward pool. The pairs we are going to sponsor and the campaign terms are ASD/USDT, DOGE/USDT, OMI/USDT, SOL/USDT, XEM/USDT, EXRD/USDT, MATIC/USDT, and FIL/USDT.

  • We’re very excited to announce a new 4-week AscendEX sponsored liquidity mining campaign for USDC with a $5,000 total reward pool!

  • We’re very excited to announce a new 4-week liquidity mining campaign for EDEN with a$2,500 reward pool!

  • Phoenix Global has decided to extend its PHB liquidity mining campaign for another 12 weeks!

  • BitClout liquidity mining campaign is extended for another 4 weeks with a 500 USDT prize pool!

  • Port Finance liquidity mining campaign is extended for another 4 weeks with a 500 USDT prize pool!

  • We’re thrilled to announce a new 20-week liquidity mining campaign for Akash Network, a distributed peer-to-peer marketplace for cloud computing with a $50,000 reward pool!

  • We’re very excited to announce a new 4-week liquidity mining campaign for Star Atlas’s  POLIS (Star Atlas DAO token) and ATLAS with a $5,000 total reward pool!

  • XCAD has decided to bring a new 12-week liquidity mining campaign for XCAD with a US$15,000 reward pool to AscendEX!

  • We’re very excited to announce a new 4-week liquidity mining campaign for sovryn.app(SOV)!

  • DYP is extending its campaign on KuCoin for another 12-weeks.

  • We’re very excited to announce a new 12-week liquidity mining campaign for NDAU with a $24,000 total reward pool!

  • Frontier now decides to extend its FRONT liquidity mining campaign on both KuCoin and Binance for another 12 weeks!

  • We’re very excited to announce a new 12-week liquidity mining campaign for Hot Cross!

  • We’re very excited to announce a new 4-week liquidity mining campaign for Monsta Infinite!

  • ShareRing has decided to resume its liquidity mining campaign for another 12 weeks with a total reward pool of ~$15,000 in SHR tokens!

  • FEAR has decided to increase existing rewards to ~4,000 USDT per week for the remaining campaign period and extend its liquidity mining campaign for another 12 weeks on KuCoin!

  • We’re thrilled to announce a new 12-week liquidity mining campaign for Refinable, with a$15,000 reward pool!

  • We’re very excited to announce four new liquidity mining campaigns on AscendEX, with a $10,000 total reward pool! The 4-week campaigns include Compound Finance, The Graph, Wrapped Bitcoin, and Aave.

New features and enhancements

New market detail page

Market detail page redesign, featuring a price/spread and volume historical chart (1H, 24H and 7D views). By clicking on each data point the user is able to see the information for that specific snapshot. This provides an easier way of understanding market and miner behavior through time. We will be also adding an order book depth chart to the page in the next few days.

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Since this is still a beta version, please do not hesitate to provide any feedback and/or report bugs. You can do this directly on the Miner app, using either the feedback button or the new live support chat (best for extensive feedback or when file uploads are needed).

Chinese version of the Miner App

In alignment with our expanding base of Chinese miners, we released a Chinese version of the Miner App. You can change the language by clicking the language button on the upper right corner near the profile name.

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Upcoming new features

We are on the final redesign of the wallet setting page. In addition to being able to assign different wallets to each individual payout tokens, we have now included the ability of setting individual wallets at an exchange level. That way, someone participating in campaigns that run on different exchanges, but that share a common payout token (eg. USDT), could receive rewards on different wallets. This allows our users to easily re-invest this capital into their mining strategies.

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We welcome any feedback and suggestions at miner@hummingbot.io or you can join the team in lively discussions on our discord server.

Platform statistics

Through September 30, 2021.

Rewards

Taking into account the AscendEX, Binance, and KuCoin campaigns, the total rewards across all exchanges presently exceed $1.6m.

Since launch, we have paid out approximately $863.8k in rewards on Binance.

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We launched KuCoin campaigns in February and have now given out over $348.1k in rewards to KuCoin miners

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We began campaigns on AscendEX in June and have now given out over $397.4k in prizes to AscendEX miners.

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Number of distinct miners and bots

As of September 30, in total 3,302 distinct miners have participated in Hummingbot liquidity mining.  There have been 2,721 unique miners on Binance, 860 distinct miners on KuCoin, and 454 distinct miners on AscendEX.

Overall distinct miners for all exchanges
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Distinct miners for Binance
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Distinct miners for KuCoin
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Distinct miners for AscendEX
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We saw a slight decline in the number of active bots this month due to majority of the AscendEX sponsored campaigns ended but was able to recover at the end of the month reaching 1,124 active bots:

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Liquidity (open order volume)

Same as the number of active bots, the open order volumes declined as the majority of the AscendEX sponsored campaigns ended.

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The average outstanding open order volume per campaign is around $18.6k at the end of this month.

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Filled order volumes on Binance

Traded volume by miners on Binance continued its trajectory, reaching more than $2bn equivalent in September, a monthly rise of about 5%.

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XEM and MFT still continue to lead the board, with cumulative miner-traded volumes of $404.4m and $396.9m respectively.

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Filled order volumes on KuCoin

The contribution of Humminbot miner's community to KuCoin's liquidity continues to grow, with cumulative FOV reaching $200.2m in the month of September, a monthly increase of more than 18%.

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FRONT and XYM are leading the board, with cumulative miner-traded volumes of $29.4m and $30.6m respectively.

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Filled order volumes on AscendEX

The contribution of Humminbot miner's community to AscendEX's liquidity continues to grow, with cumulative FOV reaching $198.3m in the month of September, a monthly increase of more than 46%!

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SOL, OMI, and DOGE are leading the board, with cumulative miner-traded volumes of $22.2m, $19.2m, and $19.2m respectively.

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Filled order volume vs. reward pool

While liquidity mining does not compensate miners for filled order volume, the increased liquidity and order book depth created by miners does translate into increased trading efficiency and, consequently, additional trading volume. Trading volume is important for issuers since exchanges typically use traded volume as a benchmark to decide whether or not to maintain or remove token listings.

Binance
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KuCoin
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AscendEX
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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.

Top ten miners

The top ten miners, as of September 30, have been awarded a total of $634k equivalent in payouts.

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Thank you!

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 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!

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