The end of the year was full of significant achievements for Hummingbot: we launched the Hummingbot Foundation and released the HBOT Token (didn’t claim your tokens yet?). The Miner was no exception, achieving two important milestones during December: open order volume by base asset reached an all time high on AVAX, reaching $287k OOV in a single day and Binance breached the $1 million mark on cumulative rewards given to miners!
As 2022 begins, we are full of excitement for all the new features we will be launching during the next months. But above all, we are grateful for the amazing community of miners that has grown around the platform: over 2,700 users signed up during 2021, reaching a total of almost 4,000 since inception. Thank you all for trusting us!
Monthly stats highlights
Total filled order volume on Hummingbot Miner increased by more than 5% in December, reaching a total cumulative value of about $2.9 billion!
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Order volume has nearly reached $2.9bn, a 5% increase month over month.
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The total number of unique miners hit 3,798! Another 152 new miners joined and earned rewards in December.
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The total rewards from all exchanges reach more than $2.5m!
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KuCoin reached its highest daily OOV of $255.1k!
New campaigns and extensions
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We’re thrilled to announce a new 4-week liquidity mining campaign for Clearpool with a US$5,000 reward pool!
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We’re excited to announce a new 4-week liquidity mining campaign for Vera with a US$5,000 reward pool!
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DYP is committing a US$30,000 total reward pool to Hummingbot miners over 12-weeks! They will be extending the KuCoin liquidity mining campaign and launching a new campaign on Gate.io.
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Navcoin is extending the liquidity mining campaign for another 8 weeks on Binance with a US$18,000 total reward pool!
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We’re excited to announce a new 8-week liquidity mining campaign for Vesper Finance with a US$20,000 reward pool!
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We’re thrilled to announce a new 6-week liquidity mining campaign for Battle Hero with a total reward pool of over 140,000 BATH tokens!
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We’re excited to announce a new 12-week liquidity mining campaign for Vivid Labs on KuCoin with a US$15,000 reward pool!
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Frontier extends the FRONT liquidity mining campaigns on Binance and KuCoin another 12-weeks with a US$53,400 reward pool!
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XCAD extends the campaign on AscendEX an additional 12-weeks! Due to high participation, the campaign will be extended with an updated reward pool of 181.7 XCAD per week for the XCAD/USDT pair.
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HOTCROSS extends the campaign on KuCoin 12-weeks with a US$15,000 reward pool!
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PHB rewards will be increased beginning December 14, 2021! The new weekly reward pool will be 2,778 PHB per week on the PHB/TUSD pair on Binance.
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AscendEX will be renewing the exchange sponsored campaign for JET an additional 4-weeks with a US$2,500 reward pool.
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We’re excited to announce a new 4-week liquidity mining campaign for Floki Inu with a US$7,500 total reward pool!
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We are excited to introduce new campaigns for Decentraland, Magic Internet Money, Loopring, and Bitfinex LEO. We also welcome back Waterfall DeFi. The total reward pool is US$12,500!
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FEAR is extending the liquidity mining campaign for another 12 weeks on KuCoin with a US$47,000+ total reward pool!
New features and enhancements
Factor Score
The score aims to convey the risk faced by liquidity providers for a given token, and is based on publicly verifiable data points such as market capitalization rank and number of days since first publicly listed. Depending on the score calculated, each token is then assigned to a specific category (stable, core, growth, emerging), representing increasing levels of risk.
We hope this helps our miners choose those markets that better match their skill level and risk preferences. You can find more details here.
New Wallets and Payouts feature
We have completely redesigned the whole process to provide more flexibility to our users. This new design replaces the old wallet setting tab with two new ones: a wallet setup tab and a payouts assignment tab. While the former allows for the setup of wallets on any of the supported networks, the latter lets users specify what wallet should be used to payout rewards on a token by token basis:
You can find more information here.
Upcoming new features
During the next two weeks we will release several exciting features: a new user experience for the Eagle Club, improvements to the Rewards CSV and a new chart showing historic Open Order Volume.
We welcome any feedback and suggestions at miner@hummingbot.io or you can join the team in lively discussions on our discord server.
Platform statistics
Through December 31, 2021
Rewards
Taking into account the AscendEX, Binance, Gateio, and KuCoin campaigns, the total rewards across all exchanges presently exceed $2.5m. Since launch, we have paid out more than $1m in rewards on Binance.
We launched KuCoin campaigns in February 2021 and have now given out over $686.4k in rewards to KuCoin miners.
We began campaigns on AscendEX in June 2021 and have now given out over $774.4k in prizes to AscendEX miners.
We started Gateio campaigns in October 2021 and have since paid out over $73k in rewards to Gateio miners.
Number of distinct miners and bots
As of December 31, in total 3,798 distinct miners have participated in Hummingbot liquidity mining. There have been 2,986 unique miners on Binance, 1087 distinct miners on KuCoin, 657 distinct miners on AscendEX, and 132 distinct miners on Gateio.
Overall distinct miners for all exchanges
Distinct miners for Binance
Distinct miners for KuCoin
Distinct miners for AscendEX
Distinct miners for Gateio
Because new campaigns were started throughout the month of December, the total number of bots was able to rebound from its minor downward trend from the previous month:
Liquidity (open order volume)
In the month of December, open order volumes were able to recover and achieve an uptrend momentum.
The average outstanding open order volume per campaign is around $15.5k at the end of this month.
Filled order volumes on Binance
Miner volume on Binance continued to surge, reaching more than $2.2 billion, an increase of more than 2% month over month.
AVAX, RLC, and MFT still continue to lead the board, with cumulative miner-traded volumes of $349.5m, $330.8m, and $405m respectively.
Filled order volumes on KuCoin
The Humminbot miner's community's contribution to KuCoin's liquidity continues to grow, with cumulative FOV hitting $376.4m, a monthly growth of over 16%.
FRONT, FEAR, and XCAD are leading the board, with cumulative miner-traded volumes of $35.1m, $35.3m, and $39.5m respectively.
Filled order volumes on AscendEX
The contribution of Humminbot miner's community to AscendEX's liquidity continues to grow, with cumulative FOV reaching $316.5m, a monthly increase of almost 9%
Filled order volumes on Gateio
The Humminbot miner community's contribution to Gateio liquidity continues to grow, with cumulative FOV hitting $16.2m, a monthly gain of 150 percent over the previous month.
XCAD and AKT are leading the board, with cumulative miner-traded volumes near $4.3m for both pairs.
Filled order volume vs. reward pool
While liquidity mining does not compensate miners for filled order volume, the increased liquidity and order book depth created by miners does translate into increased trading efficiency and, consequently, additional trading volume. Trading volume is important for issuers since exchanges typically use traded volume as a benchmark to decide whether or not to maintain or remove token listings.
Binance Rewards vs. Filled Order Volumes
Binance - Filled order volume per USD 1,250 weekly reward
KuCoin Rewards vs. Filled Order Volumes
KuCoin - Filled order volume per USD 1,250 weekly reward
AscendEX Rewards vs. Filled Order Volumes
AscendEX - Filled order volume per USD 1,250 weekly reward
Gateio Rewards vs. Filled Order Volumes
Gateio - Filled order volume per USD 1,250 weekly reward
Note: Liquidity mining does not reward for filled order volume nor does it guarantee a certain amount of filled order volume. The above figures are based on historical data from currently running and historical liquidity mining campaigns.
Top ten miners
The top ten miners, as of the end December, have been awarded a total of $970.7k equivalent in payouts.
Thank you!
The growth of the total number of bots across a diverse spectrum of base assets shows the health of the Hummingbot ecosystem, thanks to its increasing and energetic base of dedicated users and developers.
🏛 Token issuers: contact the team at partnerships@hummingbot.io to learn more about running liquidity mining campaigns on AscendEX, Binance.com, KuCoin, Gate.io, or to suggest the next exchange for us to integrate with!
🏦 Exchanges: contact partnerships@hummingbot.io if you’d like to bring Hummingbot and liquidity mining to your exchange!
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