Liquidity Mining: August recap

Just like the previous month, we achieved several significant milestones in the month of August: the total number of active bots reached an all-time high of 1,239 bots, the daily open order volume reached a new all-time high of nearly $1.6m, and weekly rewards reach a new all time high of $64.5k.

Monthly stats highlights

In the month of August, total filled order volume on Hummingbot Miner grew almost 9%, reaching a total cumulative value of almost $2.3bn!

• Order volume has nearly reached $2.3bn, a 9% increase month over month.

• The total number of unique miners hit 3,124! Another 148 new miners joined and earned rewards in August.

• The total rewards from all exchanges topped $1.3m!

• The weekly rewards reach a new all time high of $64.5k!

• The daily open order volume has reached a new all-time high of around $1.6m.

• The daily overall number of active bots hit an all-time high of 1,239.

New campaigns and extensions

• We’re very excited to announce a new 12-week liquidity mining campaign for DAFI with a US$15,000 reward pool in DAFI tokens!

• We are now excited to introduce the Flash Campaign on AscendEX with 21 new pairs! Short and fun, the Flash Campaign provides the right amount of challenge that spice up your daily trading.

• We’re very excited to announce a new 12-week liquidity mining campaign for XCAD on Kucoin with a US$15,000 reward pool in XCAD tokens!

• Hifi has decided to extend its MFT liquidity mining campaign for another 12 weeks with the same terms of the previous campaign period!

• Hacken has decided to extend its HAI liquidity mining campaign for 12 weeks with a total reward pool of 15,000 USDT (1,250 USDT / week)!

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

• We’re very excited to announce a new 4-week liquidity mining campaign for Port Finance on AscendEX with a US$15,000 reward pool!

• BitClout has decided to extend its CLOUT liquidity mining campaign for 4 weeks with a total reward pool of 5,000 USDT  (1,250 USDT / week)!

• Ava Labs will extend its liquidity mining campaign for another 12 weeks with the same terms of the previous campaign period!

• DIVI will be bringing the campaign to AscendEX and extending its liquidity mining campaign for another 12 weeks!

• We’re very excited to announce a new 8-week liquidity mining campaign for Autonio Foundation with a US$10,000 reward pool in NIOX tokens!

New features and enhancements

New Eagle Club qualification

Since the launch of our Eagle Club, the invite-only VIP program for Hummingbot’s power miners, we have welcomed 130 members to the club! Thanks to every member who has joined and mastered liquidity mining. The Eagle Club has been not only a VIP program that team Hummingbot will devote energy and time to but also a close-knit community for experienced crypto traders to share their thoughts and obtain personalized support. For the qualifications, any miner who has earned 0.3% of the total four-week rewards distributed on Hummingbot Miner. Members who are qualified for the Club will be receiving an invitation email sent every four campaign periods/weeks.

New support chat feature

Users can utilize this feature to get in touch with live support for miners who don’t have a discord account.

New My Markets filter

We have added a new feature on the Markets page, which allows our miners to easily see what pairs they are currently trading:

By switching the “My Markets” toggle, the user can focus on the markets he has bots running on. We have also highlighted those markets while on the general view, so that they are spotted at a glance.

Upcoming new features

As promised in previous articles, we have been working on a new design for the individual market page. We are very excited to announce that we are in the final round of QA and will be releasing this feature next week. Here is a preview of the new page from our development environment:

In addition to this, we are also quite advanced with the 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. Finally, in alignment with our expanding base of Chinese miners, we will be releasing a Chinese version of the Miner App in the next two weeks.

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 August 30, 2021.

Rewards

Taking into account the AscendEX, Binance, and KuCoin campaigns, the total rewards across all exchanges presently exceed $1.3m.

Since launch, we have paid out approximately $816.3k in rewards on Binance.

We launched KuCoin campaigns in February and have now given out over $240.7k in rewards to KuCoin miners.

We began campaigns on AscendEX in June and have now given out over $268k in prizes to AscendEX miners.

Number of distinct miners and bots

As of August 31, in total 3,124 distinct miners have participated in Hummingbot liquidity mining.  There have been 2,637 unique miners on Binance, 777 distinct miners on KuCoin, and 320 distinct miners on AscendEX.

Overall distinct miners for all exchanges

Distinct miners for Binance

Distinct miners for KuCoin

Distinct miners for AscendEX

We saw a surge in the number of active bots this month with the launch of new campaigns on AscendEX and KuCoin, hitting an all-time high of 1,239 active bots on August 5, 2021:

Liquidity (open order volume)

On August 9, outstanding liquidity reached a new all-time high of $1.6m. This was the result of several campaigns launched this month on AscendEX and KuCoin.

The average outstanding open order volume per campaign is around $29.3k at the end of this month, way lower than previous months. This is caused by a significant increase in the total number of active campaigns.

Filled order volumes on Binance

Traded volume by miners on Binance continued its trajectory, reaching almost $2bn equivalent in August, a monthly rise of about 4%.

XEM and MFT still continue to lead the board, with cumulative miner-traded volumes of $398.7m and $392.9m respectively.

Filled order volumes on KuCoin

The contribution of Humminbot miner's community to KuCoin's liquidity continues to grow, with cumulative FOV reaching $168.3m in the month of August, a monthly increase of almost 22%.

FRONT and XYM are leading the board, with cumulative miner-traded volumes of $24.5m and $26.1m respectively.

Our miners provided an impressive level of liquidity for some campaign tokens on KuCoin such as DIVI, reaching more than 90% of FOV on some days.

Filled order volumes on AscendEX

The contribution of Humminbot miner's community to AscendEX's liquidity continues to grow, with cumulative FOV reaching $133m in the month of August, a monthly increase of almost 157%!

AscendEX's daily FOV reached an all-time high of $4.7m on August 6th.

BTC and DOGE are leading the board, with cumulative miner-traded volumes of $16.3m and $16m respectively.

In line with what we saw from two other exchanges, our miners provided an impressive level of liquidity for some campaign tokens on AscendEX such as CLOUT and PORT, reaching more than 80% of FOV on some days.

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

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

KuCoin Rewards vs. Filled Order Volumes

KuCoin - Filled order volume per USD 1250 weekly reward

AscendEX Rewards vs. Filled Order Volumes

AscendEX - Filled order volume per USD 1250 weekly reward

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 August 30, have been awarded a total of $563.1k equivalent in payouts.

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!