Hummingbot Newsletter | February 2021
Released Hummingbot v0.36.0, KuCoin liquidity mining campaigns, New governance vote, 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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🚀 What’s in Hummingbot v0.36.0
We are very excited to ship the February 2021 Hummingbot release (v0.36.0) today. Some highlights:
🏦 Two new exchange connectors
This release introduces new connectors for BitMax, an exchange which has experienced high growth in new listings and volume recently, along with Blocktane, a new exchange focused on the Latin American market. Both connectors were built by developers participating in our newly established partner program, which matches community developers with projects/exchanges seeking custom Hummingbot development work. For more information about this program, please email firstname.lastname@example.org.
⛏️ New Liquidity Mining strategy
We introduce a new strategy called liquidity_mining that makes it easier for bot-runners to earn liquidity rewards on Hummingbot Miner. This strategy allows you to use a single token and run market making for multiple pairs at once, saving you from having to maintain multiple Hummingbot instances. Also, it incorporates the volatility adjustment feature that was previously only available via a script, so now users can make their bots automatically widen spreads when market volatility increases. We plan to make further improvements to this strategy over the next few releases.
📜 Local trade history reconciliation
Executed bot trades stored by Hummingbot and displayed in the
history command may be subject to network latency and WebSocket API disconnects, resulting in missed and/or duplicate trades. Since this trade history drives performance calculations, getting this correct is very important. In this release, we introduced a feature to reconcile Hummingbot’s trade history with the trades from the exchange’s historical trades API endpoint.
⭐ Improvements to perpetuals strategy and connector
We significantly improved the perpetual_market_making strategy and the Binance Futures connector in this release and have removed the BETA label from them. We have added a parameter that allows users to set a stop loss threshold. Also, executed trades are now correctly displayed with the
history command. In the next few release, we plan to release more strategies that utilize both perpetual and spot exchanges.
🎓 More videos, guides, and interviews
Since Hummingbot now supports more complex trading strategies and products, we will put more emphasis on educating the community via content on Hummingbot Academy as well as our Youtube channel. In addition, we’ll be doing more interviews like the one below with Blocktane, as well as a regular AMA+livestream on the eve of every new Hummingbot release. Follow us on Twitter or join our Discord to get updates!
📈 Liquidity mining recap: January 2021
2021 has kicked off with a bang! Strong momentum at the end of 2020 carried over to January and we saw lots of growth and new major milestones achieved:
- January’s monthly traded volume totaled $148M, the largest ever monthly total
- Weekly volume of $43M in the last week of January was also the largest ever weekly total
- 152 new users signed up and earned rewards on Hummingbot Miner in January, marking the largest monthly new user acquisition since the launch of the platform in March 2020
- Open order volumes (“total value locked”) also ended the month near all-time highs, at $302K
In total, Hummingbot Miner has paid out $272K of liquidity mining rewards to 1,358 different market makers. The order book depth created by Hummingbot miners has resulted in $452M of traded volume and improved liquidity for 17 token issuers.
During the past month, we also rolled out three new liquidity mining campaigns for QuarkChain, Secret, and Blox CDT on Binance, and extend the iExec RLC campaign for another 6 months.
🆕 Liquidity mining campaigns are coming to KuCoin!
We are thrilled to finally be kicking off liquidity mining to KuCoin. We will be launching new liquidity mining campaigns (Beta) for BTC, ETH, ONE, and ALGO on February 2nd, 2021!
The launch of liquidity mining on KuCoin, our second supported exchange for Hummingbot Miner, marks a major milestone for us, demonstrating our ability to scale liquidity mining to bring more campaigns and support more exchanges in the near future. This is the first of many, as we are planning to add on several more exchanges this year.
Want to learn the details of the upcoming campaigns? Click the button below 👇
🎙️ Introducing The Hummingbot Show
We are launching a new video series on our YouTube Channel - The Hummingbot Show. The first episode features John Willock, CEO of Blocktane, the first Brazil-based exchange ever supported by Hummingbot. We plan to roll out more interviews featuring token projects and exchanges' leaders in the future. Stay tuned!
🙌 The result of governance proposal #4
Thanks again to everyone who participated in our 4th governance vote. The winner exchange is Binance Cloud! Two exchanges powered by Binance Cloud, namely Tokocrypto and Mandala have developed their Hummingbot connectors, we will work closely with their dev team to get the connectors merged into the next release v0.37.0.
Want to have a say in Hummingbot governance? Make sure to participate in liquidity mining! <= $1 in rewards will be round up to 1 vote. More Rewards earned, more votes you can cast!
📚 New stuff in Hummingbot Academy
Arbitrage and Terra blockchain: How to set up Hummingbot for new opportunities
With the launch of the Terra connector, Hummingbot has opened up many new arbitrage opportunities for users. Have questions about Terra arbitrage? We’ve got you covered! Watch the above AMA replay featuring Mike Feng, CEO of Hummingbot, and Do, CEO of Terra. ☝️
We also made a step-by-step demo video that can guide you through the setup. 👇
The Hummingbot Academy tutorial article also covers the basic steps to grab arbitrage opportunities between Terra and other exchanges. Check out the guide below. 👇
💃🕺 Hummingbot 🆚 Haasbot: Which one is better for liquidity mining?
In the last comparison blog, we compared Cryptohopper and Hummingbot, and this time, we will compare Haasbot and Hummingbot.
The goal of this article is to test out both bots and help you make better decisions on which software to use for liquidity mining (Remember, you do not need to use Hummingbot to earn liquidity mining rewards). We will make a comparison of their basic market making features and run these two bots for liquidity mining to test out the performance.
🍿 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.
🧆 How Cultural Differences Drive User Adoption in DeFi: The cultural differences between the development teams and the users for whom they build products can explain some differences in the design and user adoption of different DeFi products.
🥒 What I Think of Bitcoin by Ray Dalio: Did Ray Dalio warm up to Bitcoin?
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