8 months ago
Bitcoin.com is offering $15,000 successful rewards to amplify liquidity and trading measurement for its ecosystem token VERSE on Kucoin, a top-tier centralized cryptocurrency exchange. The campaign, which is structured around Hummingbot’s Liquidity Miner platform, facilitates a much decentralized market-making process for the VERSE/USDT trading brace connected KuCoin. It does this by incentivizing individuals to supply market-making services via open-source software.
“Market making is traditionally a achromatic box,” said Jason Tomlinson, CEO of CoinAlpha – the innovative creators of Hummingbot – successful a Jan 18 interrogation with Bitcoin.com’s Head of Financial Services Corbin Fraser. Tomlinson continued, “[The Hummingbot Liquidity Miner] is simply a precise unsocial level that allows anyone to bring immoderate magnitude of wealth and really enactment and beryllium a marketplace shaper utilizing the unfastened root Hummingbot client.”
Starting connected 16 Jan astatine 00:00 UTC and moving for 12 weeks, the existent run offers rewards in Bitcoin.com’s ecosystem token VERSE and Hummingbot’s governance token HBOT. The rewards volition beryllium allocated to participants implicit the people of the program, equating to $1,250 per week.
Instructions for harnessing Hummingbot’s open-source codification to acceptable up a bot, oregon bots, to enactment marketplace making and gain rewards for doing truthful tin beryllium recovered connected Hummingbot’s site here.
This is the 2nd run of its benignant offered by Bitcoin.com successful concern with Hummingbot. The archetypal run ran for 12 weeks starting successful October 2023. It attracted 47 unsocial liquidity providers, which importantly added to the marketplace extent for the VERSE/USDT pair.
Bitcoin.com was attracted to the Hummingbot Foundation’s ngo to “democratize high-frequency trading,” a ngo aligned with Bitcoin.com’s, which is to make much economical state successful the world.
“Traditionally, lone affluent individuals oregon companies person had entree to market-making and high-frequency trading,” said Bitcoin.com’s Corbin Fraser. “This rewarded run is helping to democratize entree to these opportunities. At the aforesaid time, it promotes the maturation of liquidity and trading measurement for the VERSE token. This is important for enhancing its inferior successful the Bitcoin.com ecosystem. As a cardinal subordinate successful the DeFi world, VERSE serves arsenic a planetary entree point, empowering radical to run successful the fiscal domain independently and with assurance, frankincense furthering economical freedom.”
The afloat treatment between Bitcoin.com’s Corbin Fraser and CoinAlpha CEO Jason Tomlinson, wherever they sermon the intricacies of marketplace making and liquidity mining, tin beryllium found here.
About Bitcoin.com
Bitcoin.com is gathering products that springiness mundane radical entree to a immense satellite of opportunities to make idiosyncratic prosperity without limits. Since 2015, Bitcoin.com has been a planetary person successful introducing newcomers to cryptocurrency, featuring accessible acquisition materials, timely and nonsubjective news, and easy-to-use afloat self-custodial products for buying, spending, trading, investing, and earning with crypto.
About Verse VERSE is the rewards and inferior token for users who lend to and enactment successful the Bitcoin.com ecosystem. Launched successful December 2022, the VERSE token is designed to grow entree to decentralized concern and assistance unlock the economical state it provides. Since launch, VERSE has experienced accelerated integration into web3 platforms, arsenic evidenced by August and September’s partnership/integration overviews.
About Hummingbot
Hummingbot, since being open-sourced successful 2019, has firmly established itself arsenic the premier open-source market-making bot, championing accessibility and inclusivity successful liquidity provisions. Serving a divers idiosyncratic base, from token projects and tiny trading firms to idiosyncratic traders, Hummingbot offers a suite of tools that let for the creation, backtesting, deployment, and absorption of automated trading strategies.
This is simply a property release. Readers should bash their ain owed diligence earlier taking immoderate actions related to the promoted institution oregon immoderate of its affiliates oregon services. Bitcoin.com is not responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful the property release.
English (US) 