Hummingbot Miner has just announced that they extended their liquidity mining program, which officially happened on Binance.
Investors may now participate in the campaign via Gate.io and KuCoin.
All three campaigns will offer double rewards of USDC and AVAX, which aim to back the launch of native USDC on Avalanche.
The campaign, which will last 12 weeks starting on the 8th of February, has a total reward pool of $36,000 ( $1,000 split per week) that will be distributed into AVAX and USDC tokens!
You can check all campaign terms here!
For the participants to be eligible for the rewards, they’ll have to make orders with spreads of 1% or lower spreads.
They also have to register through Hummingbot miner’s app, enable data sharing by providing a read-only API key, and comply with all of the Terms and Conditions outlined.
You can find Hummingbot’s liquidity mining policy here!
For those who are not familiar with Hummingbot Miner:
Miners gain incentives by operating a market-making bot that maintains orders on exchange order books while engaging in Liquidity Mining campaigns.
Every snapshot (1-minute interval), Hummingbot Miner checks for eligible orders in the exchange using the read-only API keys connected to the platform.
To earn rewards, participants need to meet the following requirements:
- Have open limit orders on the participating trading pairs
- The spread of the orders is within the maximum spread.
- The read-only API keys from the exchange are connected in Hummingbot Miner
Simply put, the tighter the spreads are, the bigger the size of the orders, and the more consistent that orders are placed in the market over time, the more significant rewards are!
It has to be mentioned that participants compete with each other, and the rewards are distributed accordingly.
