We are excited to announce a new liquidity mining campaign for NEM Official (Editors) that will start on November 3, 2020 12:00am UTC. Both the NEM and Hummingbot communities will soon be able to share an initial $15,000 reward pool in XEM by participating in market making for the XEM token.
In this post, we are going to introduce NEM to the Hummingbot community and give both the Hummingbot and NEM communities an overview of the upcoming campaign.
NEM Group supports the development of Symbol from NEM, a trusted and secure enterprise blockchain that smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets.
NEM Group comprises three separate entities: NEM Software, NEM Trading, and NEM Ventures. NEM Group shapes the future of blockchain by nurturing a strong and healthy ecosystem that will contribute to the development of blockchain technology for generations to come.
Liquidity Mining Campaign for XEM Tokens
As NEM prepares for the Symbol mainnet launch and the launch of their new XYM token, the NEM liquidity mining campaign will reward traders for providing liquidity over the coming weeks during this launch. The campaign will initially focus on the XEM token, but may, in the future, also include the XYM token once XYM becomes available and is listed on exchanges.
Liquidity mining rewards users for providing liquidity for specific token pairs. Participants earn rewards by placing maker orders in XEM and adding to order book depth. We aim to create a fair, open, and transparent liquidity mining system for both participants and token projects. The way liquidity mining rewards are calculated is aligned with the risks participants take: the longer and more consistently participants place orders with tighter spreads and larger sizes, the more rewards participants earn. Participants and token projects will have access to real-time data on the campaign and market-making activity.
NEM’s upcoming liquidity mining campaign will allow members of both the NEM and Hummingbot communities to participate in market making for XEM tokens¹. By participating, members of the NEM community can also support their favorite project while earning rewards.