Polkadex Has Partners With Hummingbot

Polkadex has partnered with Hummingbot on a three-month long liquidity mining campaign.

Liquidity mining campaign will reward $PDEX traders on KuCoin.

What is liquidity mining?

Liquidity mining has been popularized by decentralized exchanges as a tool that allows the exchange and its different liquidity pools to remain as liquid and efficient as possible. It incentivizes protocol participants to provide liquidity to exchanges in return for token rewards. As it is easy to see the proof of liquidity on-chain, liquidity mining is relatively easy to implement on DEXes.

What is liquidity mining on Hummingbot?

Hummingbot makes it easier to implement liquidity mining on orderbook-based exchanges as it works with exchanges to take snap-shots of orderbooks as proof of provided liquidity. It then rewards participants based on the spread and size of the orders they place. The larger the order, or the tighter the spread, the larger your proportion of the reward pool becomes.

Campaign Details

Start date: August 10, 2021 12:00am UTC (live now!)

Duration: 12 weeks

Total reward pool: USDT 15,000 (USDT 1,250/week)

Eligible orders: maker orders placed with a spread of 2% or lower

Exchange: KuCoin

About Hummingbot

Hummingbot.io is open-source software that lets you build and run customizable trading strategies. It helps cryptocurrency users build their own market-making bots and automate their trading on centralized exchanges.

The Hummingbot Miner app lets users earn liquidity mining rewards while they run a market-making bot. Hummingbot Miner makes liquidity mining a non-custodial, community-led, and takes a data-driven approach to market-making.

About PolkaDEX

Polkadex is a fully decentralized and non-custodial peer-to-peer orderbook trading platform that merges the benefits of both centralized and decentralized exchanges in one product.

➡️Source:
https://polkadex.medium.com/polkadex-hummingbot-liquidity-mining-campaign-ee86e1da90f0