Hummingbot Newsletter | April 2021
Shipped v0.38.0 release, Conflux & Symbol campaigns, New market making strategy demo, etc.
Welcome to the Hummingbot Newsletter! Hope this issue finds you and your loved ones ❤️ safe and strong 💪.
Published each month when we ship a new Hummingbot release, this newsletter serves a regular dose of updates about our latest features 🤖, upcoming events 🎉, and announcements from our rapidly expanding global 🌐 community!
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🚀 Shipped Hummingbot v0.38.0!
We are very excited to ship the April 2021 Hummingbot release (v0.38.0) today. This release contains:
- New connectors for HitBTC, Digifinex, and CoinZoom;
New Avellaneda market making strategy based on the classic Avellaneda-Stoikov paper
🙋♂️ CEO Note: How we plan to evolve Hummingbot strategies
The publication of the new avellaneda strategy in v0.38.0 marks a shift in how we at Hummingbot plan to build and release strategies going forward. Based on the seminal market making paper High-frequency trading in a limit order book published by Marco Avellaneda and Sasha Stoikov in 2006, the avellaneda strategy replicates the model outlined in the paper while making certain mathematical assumptions to make it easier for new users to deploy a bot. Advanced users, on the other hand, can choose to set the kappa and gamma parameters directly for more control.
Generally, market making is a fairly new area of academic literature, and many papers have been published on it over the past 20 years. Going forward, we plan to base the market making strategies that Hummingbot releases on these academic papers.
Unlike the current pure_market_making strategy, we aim to keep these academically-oriented strategies fairly simple and limit how much parameters we add, in order to reduce confusion for new users. At the same time, we plan to make it simpler to customize and create strategies, so that advanced users can add the bells and whistles they want.
🌊 Liquidity Mining Updates
New Symbol & Conflux liquidity mining campaigns
We are thrilled to launch new liquidity mining campaigns for Symbol and Conflux on KuCoin and Binance, respectively.
Conflux campaign terms:
Total reward pool*: USDT 1,250/week for 12 weeks
Reward token: USDT
The rewards will be split equally between the below two eligible pairs:
Eligible orders: maker orders placed with spreads of 2% or lower
Symbol campaign terms:
- Total reward pool*: ~ XYM 3,570 / week (subject to change)
- Reward token: XYM
- Eligible token pairs: XYM/BTC and XYM/USDT
- Eligible orders: maker orders placed with spreads of 1.5% or lower
- Exchange: KuCoin
Frontier extends its liquidity mining campaign on Binance and launches a new KuCoin liquidity mining campaign
Since the launch in late December last year, Hummingbot miners have accounted for up to 45% of the FRONT/BUSD trading volume on Binance. Encouraged by the campaign result, Frontier has decided to extend the Front liquidity mining campaign on Binance for another 3 months and launch a new liquidity mining campaign on KuCoin for the FRONT/BTC and FRONT/USDT pairs. The new reward schedule is as below:
FRONT/BUSD: USDT 1,250/week + FRONT 422/week
FRONT/USDT: USDT 625/week + FRONT 422/week
FRONT/BTC: USDT 625/week + FRONT 422/week
Firo extends its liquidity mining campaign
As both the Hummingbot and FIRO teams are pleased with the past campaign performance, we have decided to extend the FIRO liquidity mining campaign for another month and the campaign is subject to further extension!
The updated reward schedule is as below:
- FIRO/BTC: 159 FIRO/week
- FIRO/USDT: 159 FIRO/week
Liquidity mining: March recap
In March the Hummingbot platform continued its impressive growth, with the highest filled order volumes and rewards for miners to date. The total number of distinct miners themselves jumped 19.4% last month, from 1,622 to 1,937! Some summary stats through the past 13 months of liquidity mining are as below:
- Filled order volume surpassed $1,152mm
- Total distinct miners surpassed 1,937! 315 new miners signed up in the month of March alone!
- $516k equivalent cumulative rewards paid out, compared to $272k in January
The top-ranked miner has earned the USD equivalent of 93k in total rewards
⚒️ Launching the Hummingbot Engineering blog
We are excited to launch Hummingbot Engineering blog to introduce the technology behind Hummingbot. We believe aspiring developers and our community members might be interested in what we are working on, how we are tackling complex technical problems and how our community can make better use of our open-source code base.
In the first blog post, our Co-founder and CTO, Martin Kou discusses some of the key architectural features in Hummingbot, and the rationales behind their designs as the underlying framework of Hummingbot is freely extensible for building custom strategies, custom market connectors, and more.
🎙️ New Hummingbot Live Episodes
Have you watched our latest episodes of Hummingbot Live, a weekly livestreamed show on our YouTube Channel happening every Friday (5:00 PM PT)? Check out the replays! We’ve hosted AMAs with Perpetual protocol and Beaxy, and introduced our new Avallaneda market-making strategy (available in the release v0.38) based on a rigorous academic research paper.
Don’t forget to subscribe to our YouTube channel and click on the bell 🔔 to allow notifications. You’ll never miss any Hummingbot’s new videos and live streams!
📚 New stuff in Hummingbot Academy
This new article explores the basic concept of the new spot-perpetual arbitrage strategy, the logic behind it, and how to find good trading opportunities.
There are many ways to identify trends, either using fundamental analysis or technical analysis. This article will share some tools that hopefully will assist you build your own framework for identifying trends.
🍿 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.
🍇 Uniswap V3 is out: check out the new features that upgrade the model. And here’s a short explainer video on the Uniswap V3 architecture.
🍡 Binance Smart Chain and CeDeFi explained: How is BSC different from Ethereum? And what is CeDeFi?
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