Hummingbot Bi-weekly #31

New release v0.25.0, new forum, recommended settings for new liquidity miners, etc.

Hummingbot Bi-weekly #31

Welcome to the Hummingbot Bi-weekly, your regular dose of updates about new features πŸ€–, upcoming events πŸŽ‰, and announcements from our rapidly expanding community πŸ‘ͺ! Subscribe to never miss any new issue.

By the way, stay safe and healthy! 🧼

πŸš€ We just shipped new Hummingbot v0.25.0!

In the past two weeks, we've worked extremely hard to make Hummingbot more resilient πŸ’ͺ against market volatility. We also fixed a few critical issues that caused memory leaks. This is a huge release so please update your bots!

πŸ†• New Hummingbot forum/subreddit

We have deprecated our old Discourse forum and will start using our new subreddit where many more users have already had accounts. We welcome anyone to post discussions and hummingbot and liquidity mining-related topics there.

We have made this change since we plan to utilize the forum more heavily from now on. We're seeing an increase in the number of users since we launched Liquidity Mining, so we want to ensure that there's a place where users can upvote the most helpful discussion topics.

Since liquidity mining is new and the crypto market is a LOT more volatile than before, our top priority is helping miners run market making bots safely and earn rewards without suffering losses due to market gyrations.

Here are some tips to run Hummingbot:

  1. Start conservatively: use wider spreads (any spreads lower than 5% on each side will earn some reward) and ratchet them inwards gradually.
  2. Use single order mode unless you are an experienced market maker. Multiple order levels are more complex and riskier.

πŸ“Š Liquidity mining two-week recap

In the two weeks since we've launched, despite the extreme volatility we saw last week and of course with all that's going on with the virus, we have had really positive and encouraging results so far.

Summary 2-week Statistics:

  • 550 sign-ups to the Miners App
  • 293 distinct users have connected the miners app to their binance accounts
  • 155 distinct users have configured bots and have earned rewards
  • 19 miners so far have earned rewards > 100 USDC
  • Since Friday March 13, 2020 (when Bitcoin dropped ~50%), 84 unique users have continued to participate and earn rewards

Our miners have generated over $7mm of filled order volume

πŸŽ’ Free Liquidity Mining group training sessions

To train users on how to earn rewards with Liquidity Mining, we will host free group training sessions. The 30-minute training session will cover:

  • The basic concepts behind market making
  • How to install Hummingbot
  • Configuring a market making bot
  • Earning token rewards with Liquidity Mining
  • How to assess your bot’s performance and mining returns
  • Recommended settings and tips
  • Q&As

Spots are limited for each training session, so RSVP today to reserve your preferred day and time!

🍿 Crypto snacks

A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers

🌢 Many traders suffered losses in the recent crypto market crash on March 12th.   March 12: The Day Crypto Market Structure Broke (Part 1) attempts to provide an explanation on what happened and why it happened.

🍈 Decrypt made a collection of latest news and updates on how the global epidemic is affecting the blockchain and cryptocurrency industry. Check it out.

πŸ’¬ Get involved!

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