Liquidity Mining: December recap

Blog » Liquidity Mining: December recap
2021-dec-lm-mr-img01

Dennis Buyco

2022-01-11 · 8 min read

The end of the year was full of significant achievements for Hummingbot: we launched the Hummingbot Foundation and released the HBOT Token (didn’t claim your tokens yet?). The Miner was no exception, achieving two important milestones during December: open order volume by base asset reached an all time high on AVAX, reaching $287k OOV in a single day and Binance breached the $1 million mark on cumulative rewards given to miners!

 

As 2022 begins, we are full of excitement for all the new features we will be launching during the next months. But above all, we are grateful for the amazing community of miners that has grown around the platform: over 2,700 users signed up during 2021, reaching a total of almost 4,000 since inception. Thank you all for trusting us!

Monthly stats highlights

Total filled order volume on Hummingbot Miner increased by more than 5% in December, reaching a total cumulative value of about $2.9 billion!

2021-dec-lm-mr-img02
  • Order volume has nearly reached $2.9bn, a 5% increase month over month.

  • The total number of unique miners hit 3,798! Another 152 new miners joined and earned rewards in December.

  • The total rewards from all exchanges reach more than $2.5m!

  • KuCoin reached its highest daily OOV of $255.1k!

New campaigns and extensions

  • We’re thrilled to announce a new 4-week liquidity mining campaign for Clearpool with a US$5,000 reward pool!

  • We’re excited to announce a new 4-week liquidity mining campaign for Vera with a US$5,000 reward pool!

  • DYP is committing a US$30,000 total reward pool to Hummingbot miners over 12-weeks! They will be extending the KuCoin liquidity mining campaign and launching a new campaign on Gate.io.

  • Navcoin is extending the liquidity mining campaign for another 8 weeks on Binance with a US$18,000 total reward pool!

  • We’re excited to announce a new 8-week liquidity mining campaign for Vesper Finance with a US$20,000 reward pool!

  • We’re thrilled to announce a new 6-week liquidity mining campaign for Battle Hero with a total reward pool of over 140,000 BATH tokens!

  • We’re excited to announce a new 12-week liquidity mining campaign for Vivid Labs on KuCoin with a US$15,000 reward pool!

  • Frontier extends the FRONT liquidity mining campaigns on Binance and KuCoin another 12-weeks with a US$53,400 reward pool!

  • XCAD extends the campaign on AscendEX an additional 12-weeks! Due to high participation, the campaign will be extended with an updated reward pool of 181.7 XCAD per week for the XCAD/USDT pair.

  • HOTCROSS extends the campaign on KuCoin 12-weeks with a US$15,000 reward pool!

  • PHB rewards will be increased beginning December 14, 2021! The new weekly reward pool will be 2,778 PHB per week on the PHB/TUSD pair on Binance.

  • AscendEX will be renewing the exchange sponsored campaign for JET an additional 4-weeks with a US$2,500 reward pool.

  • We’re excited to announce a new 4-week liquidity mining campaign for Floki Inu with a US$7,500 total reward pool!

  • We are excited to introduce new campaigns for Decentraland, Magic Internet Money, Loopring, and Bitfinex LEO. We also welcome back Waterfall DeFi. The total reward pool is US$12,500!

  • FEAR is extending the liquidity mining campaign for another 12 weeks on KuCoin with a US$47,000+ total reward pool!

New features and enhancements

Factor Score

2021-dec-lm-mr-img02-01

The score aims to convey the risk faced by liquidity providers for a given token, and is based on publicly verifiable data points such as market capitalization rank and number of days since first publicly listed. Depending on the score calculated, each token is then assigned to a specific category (stable, core, growth, emerging), representing increasing levels of risk.

We hope this helps our miners choose those markets that better match their skill level and risk preferences. You can find more details here.

New Wallets and Payouts feature

We have completely redesigned the whole process to provide more flexibility to our users. This new design replaces the old wallet setting tab with two new ones: a wallet setup tab and a payouts assignment tab. While the former allows for the setup of wallets on any of the supported networks, the latter lets users specify what wallet should be used to payout rewards on a token by token basis:

2021-dec-lm-mr-img02-02
2021-dec-lm-mr-img02-03

You can find more information here.

Upcoming new features

During the next two weeks we will release several exciting features: a new user experience for the Eagle Club, improvements to the Rewards CSV and a new chart showing historic Open Order Volume.

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 December 31, 2021.

Rewards

Taking into account the AscendEX, Binance, Gateio, and KuCoin campaigns, the total rewards across all exchanges presently exceed $2.5m. Since launch, we have paid out more than $1m in rewards on Binance.

2021-dec-lm-mr-img03

We launched KuCoin campaigns in February 2021 and have now given out over $686.4k in rewards to KuCoin miners.

2021-dec-lm-mr-img04

We began campaigns on AscendEX in June 2021 and have now given out over $774.4k in prizes to AscendEX miners.

2021-dec-lm-mr-img05

We started Gateio campaigns in October 2021 and have since paid out over $73k in rewards to Gateio miners.

2021-dec-lm-mr-img06

Number of distinct miners and bots

As of December 31, in total 3,798 distinct miners have participated in Hummingbot liquidity mining. There have been 2,986 unique miners on Binance, 1087 distinct miners on KuCoin, 657 distinct miners on AscendEX, and 132 distinct miners on Gateio.

Overall distinct miners for all exchanges

2021-dec-lm-mr-img07
2021-dec-lm-mr-img08

Distinct miners for Binance

2021-dec-lm-mr-img09
2021-dec-lm-mr-img10

Distinct miners for KuCoin

2021-dec-lm-mr-img11
2021-dec-lm-mr-img12

Distinct miners for AscendEX

2021-dec-lm-mr-img13
2021-dec-lm-mr-img14

Distinct miners for Gateio

2021-dec-lm-mr-img15
2021-dec-lm-mr-img16

Because new campaigns were started throughout the month of December, the total number of bots was able to rebound from its minor downward trend from the previous month:

2021-dec-lm-mr-img17

Liquidity (open order volume)

In the month of December, open order volumes were able to recover and achieve an uptrend momentum.

2021-dec-lm-mr-img18

The average outstanding open order volume per campaign is around $15.5k at the end of this month.

2021-dec-lm-mr-img19

Filled order volumes on Binance

Miner volume on Binance continued to surge, reaching more than $2.2 billion, an increase of more than 2% month over month.

2021-dec-lm-mr-img20
2021-dec-lm-mr-img21

AVAX, RLC, and MFT still continue to lead the board, with cumulative miner-traded volumes of $349.5m, $330.8m, and $405m respectively.

2021-dec-lm-mr-img22
2021-dec-lm-mr-img23
2021-dec-lm-mr-img24

Filled order volumes on KuCoin

The Humminbot miner's community's contribution to KuCoin's liquidity continues to grow, with cumulative FOV hitting $376.4m, a monthly growth of over 16%.

2021-dec-lm-mr-img25
2021-dec-lm-mr-img26

FRONT, FEAR, and XCAD are leading the board, with cumulative miner-traded volumes of $35.1m, $35.3m, and $39.5m respectively.

2021-dec-lm-mr-img27
2021-dec-lm-mr-img28
2021-dec-lm-mr-img29

Filled order volumes on AscendEX

The contribution of Humminbot miner's community to AscendEX's liquidity continues to grow, with cumulative FOV reaching $316.5m, a monthly increase of almost 9%

2021-dec-lm-mr-img30
2021-dec-lm-mr-img31

USDC is leading the board, with cumulative miner-traded volumes of $33.1m.

2021-dec-lm-mr-img32
2021-dec-lm-mr-img33
2021-dec-lm-mr-img34

Filled order volumes on Gateio

The Humminbot miner community's contribution to Gateio liquidity continues to grow, with cumulative FOV hitting $16.2m, a monthly gain of 150 percent over the previous month.

2021-dec-lm-mr-img35
2021-dec-lm-mr-img36

XCAD and AKT are leading the board, with cumulative miner-traded volumes near $4.3m for both pairs.

2021-dec-lm-mr-img37
2021-dec-lm-mr-img38
2021-dec-lm-mr-img39

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 Rewards vs. Filled Order Volumes

2021-dec-lm-mr-img40

Binance - Filled order volume per USD 1,250 weekly reward

2021-dec-lm-mr-img41

KuCoin Rewards vs. Filled Order Volumes

2021-dec-lm-mr-img42

KuCoin - Filled order volume per USD 1,250 weekly reward

2021-dec-lm-mr-img43

AscendEX Rewards vs. Filled Order Volumes

2021-dec-lm-mr-img44

AscendEX - Filled order volume per USD 1,250 weekly reward

2021-dec-lm-mr-img45

Gateio Rewards vs. Filled Order Volumes

2021-dec-lm-mr-img46

Gateio - Filled order volume per USD 1,250 weekly reward

2021-dec-lm-mr-img47

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 the end December, have been awarded a total of $970.7k equivalent in payouts.

2021-dec-lm-mr-img48

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, Gate.io, 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

Liquidity Mining: December recap
Liquidity Mining: December recap
Liquidity Mining: November recap
Liquidity Mining: November recap
Harmony and Hummingbot launch ONE Liquidity DAO
Harmony and Hummingbot launch ONE Liquidity DAO

DISCLAIMER: The websites located at https://hummingbot.io, https://docs.hummingbot.io, https://miners.hummingbot.io (collectively, the "Site") are copyrighted works belonging to CoinAlpha, Inc. ("Company", "us", "our", and "we"). Certain features of the Site may be subject to additional guidelines, terms, or rules, which will be posted on the Site in connection with such features. All such additional terms, guidelines, and rules are incorporated by reference into these Terms. These terms of use (these "Terms") set forth the legally binding terms and conditions that govern your use of the Site. By accessing or using the Site, you are accepting these Terms (on behalf of yourself or the entity that you represent), and you represent and warrant that you have the right, authority, and capacity to enter into these terms (on behalf of yourself or the entity that you represent). You may not access or use the Site or accept the terms if you are not at least 18 years old. If you do not agree with all of the provisions of these terms, do not access and/or use the Site.