Hummingbot announces two major strategic initiatives with Binance

博客»Hummingbot announces two major strategic initiatives with Binance
cover

Yingdan Liang

2020-03-24 · 3 min read

Hummingbot is excited to announce that it is working with Binance on two strategic initiatives: (1) to bring new algorithmic traders to Binance using Hummingbot and (2) expand liquidity mining with an issuer referral program.


Hummingbot is an open-source crypto trading software client that allows users to trade cryptocurrency with high-frequency trading strategies such as market making and arbitrage. Hummingbot currently supports nine exchanges, both centralized and decentralized. Binance was among the first exchanges that Hummingbot supported at launch.

Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Since early 2018, Binance has been considered as the biggest cryptocurrency exchange in the world in terms of trading volume.

In early March, Hummingbot launched the inaugural liquidity mining campaigns, a series of community-driven liquidity programs for four token projects listed on Binance. Within the first two weeks, 155 individual traders participated in the campaigns, earning as much as 200 in weekly rewards and collectively generating over [7 million of filled order volume](https://www.reddit.com/r/Hummingbot/comments/fkxlsl/daily_update_march_18_2020_two_week_recap/).

To turbocharge the growth, we are working closely with Binance to expand the usage of Hummingbot on the exchange as well as participation in liquidity mining. Hummingbot provides all users easy-to-use infrastructure for automated trading of their favorite tokens on Binance. We believe that working with Binance will allow us to combine the strengths of both Binance’s state-of-the-art platform and our innovative high frequency trading infrastructure.

Binance will be contributing a portion of the trading fees generated from new Binance users trading with Hummingbot to help further develop the Hummingbot platform and community. We encourage members of the Hummingbot community to sign up and create new Binance accounts to help support us!

In addition, Binance will be working with the Hummingbot team to support liquidity mining by referring token issuers who want to support liquidity for their tokens to run liquidity mining campaigns as an alternative to hiring traditional crypto market makers / quant hedge funds. Compared to traditional market makers, liquidity mining provides a lower cost, data-driven way to generate liquidity. It gives issuers a way to diversify sources of liquidity, reward their own communities for contributing to market making, and encourage Hummingbot’s community of quant/algo traders to trade in the issuer’s tokens.


Additional Information

🏛 Token issuers: if your token is listed on Binance or on any of the exchanges that Hummingbot is integrated with, please contact the team at partnerships@hummingbot.io to learn more about our liquidity mining campaigns.

🌊⛏️ Liquidity miners: If you are interested in joining liquidity mining, please refer to below resources:

相关帖子

Harmony and Hummingbot launch ONE Liquidity DAO
Harmony and Hummingbot launch ONE Liquidity DAO
Liquidity Mining: October recap
Liquidity Mining: October recap
Liquidity Mining: September recap
Liquidity Mining: September recap

免责声明:位于https://hummingbot.io、https://docs.hummingbot.io、https://miners.hummingbot.io的网站(统称为“网站”)是属于CoinAlpha, Inc.(“公司”、“我们”和“我们的”)的受版权保护的作品。本网站的某些功能可能受附加指南、条款或规则的约束,这些指南、条款或规则将发布在与此类功能相关的网站上。所有此类附加条款、指南和规则均通过引用纳入本条款。这些使用条款(以下简称“条款”)规定了具有法律约束力的条款和条件,以规范您对本网站的使用。访问或使用本网站,即表示贵方接受这些条款(代表贵方自己或贵方所代表的实体),并且贵方声明并保证贵方有权利、权限和能力签订这些条款(代表贵方自己或贵方所代表的实体)。如果贵方未满18岁,则不得访问、使用本网站或接受这些条款。如果贵方不同意这些条款的所有规定,请勿访问和/或使用本网站。