Hummingbot Launches Liquidity Mining Program for AVAX
Hummingbot will engage its robust trader and the wider-Avalanche community to maximize accessibility to AVAX.
We’re excited to share that Avalanche (AVAX) is the newest asset in Hummingbot’s liquidity mining program. A six-month liquidity mining campaign for AVAX on Hummingbot will begin on December 8, 2020, at 12:00AM UTC. The Avalanche liquidity mining campaign will initially distribute USDT rewards and will transition to AVAX rewards.
Hummingbot is a community-driven, open-source project that aims to democratize algorithmic trading by making sophisticated high-frequency trading strategies freely available to everyone in the world. They have worked with projects like Ethereum, Maker, Celo, and more. We’re looking forward to collaborating with Hummingbot to maximize accessibility to AVAX.
On December 9 from 2:30PM-3:30PM ET, Hummingbot will run a live webinar called “Avalanche Liquidity Mining Webinar.” RSVP here.
How does Hummingbot’s AVAX liquidity mining campaign work?
Liquidity mining is a decentralized approach to liquidity provision, allowing anyone to participate in the market making activities previously only possible for institutional traders and hedge funds.
Equipped with Hummingbot, the open-source crypto trading software, participants will be able to surpass the technical barrier to making markets, and get rewards. The rewards are calculated based on a data-driven, objective methodology that aligns the risk participants take with the reward they will get.
The Avalanche liquidity mining campaign rewards participants for placing maker orders in four eligible AVAX token pairs to increase their order book depth, a key determinant of liquidity. With a reward pool of USD $36,000, this campaign appeals to both existing AVAX token holders in the Avalanche community and active crypto traders in the Hummingbot community.
- Start date: December 8, 2020 12:00am UTC
- Total reward pool*: USD $36,000 for 24 weeks (USD $1,500/week)
- Reward token: USDT for the first four weeks, transitioning to an approximately equivalent amount in AVAX tokens from the 5th week
- Eligible orders: maker orders placed with spreads of 2% or lower
- Exchange: Binance.com
- Eligible token pairs and the reward allocation:
- Week 1:
- AVAX/USDT $600
- AVAX/BTC $600
- AVAX/BNB $300
- Subsequent weeks:
- AVAX/USDT: USD $500/week
- AVAX/BTC: USD $500/week
- AVAX/TRY: USD $250/week
- AVAX/BNB: USD $250/week
*For full terms of the campaign, please see Hummingbot liquidity mining terms.
Additional Resources on Hummingbot and Liquidity Mining
- Hummingbot Miner app
- Hummingbot Academy
- Video: Liquidity mining basic training
- Video: Liquidity mining advanced training
- Liquidity mining FAQs
- Hummingbot quickstart guide
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.
- Eligibility requirements: participation in liquidity mining is subject to eligibility requirements as specified in the liquidity mining policy.
- 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.