CoinFLEX Integrates With Hummingbot.io
CoinFLEX integrates with Hummingbot.io, the open-source software that helps build market-making and arbitrage bots that run on any crypto exchange, centralized or decentralized.
CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world.
CoinFLEX was backed by Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital. In 2021, the platform achieved $9 billion in daily trading volume.
Hummingbot’s mission is to democratize high-frequency trading. It empowers liquidity providers everywhere with both open source and commercial technologies.
COiNFLEX and Hummingbot.io Partnership Highlights
- CoinFLEX can offer Hummingbot members a 2 months trial of either VIP4-5-6 (depending on targeted volumes).
- VIP4: all Hummingbot community VIP5: if targeted 30d volume is > $20m VIP6: if targeted 30d volume is > $100m
CoinFLEX AMM+ Advantages over Uniswap
1) AMM+ is More Capital Efficient: $1 on CoinFLEX Has a Larger Impact
In addition, by providing users with access to leverage, users can benefit from greater capital efficiency.
Because the futures markets are far larger than the spot markets, AMM+ users benefit from higher trading volume than DEX volumes. For reference, the total value locked (TVL) in Uniswap v3 is roughly $6.5B but trades approximately $1B in daily volumes. Comparatively, the CoinFLEX AMM+ has roughly $100M TVL and has traded between $200M to $1B in daily volumes.
Therefore, higher liquidity encourages volume growth and offers better pricing by reducing the spread and price slippage.
2) Fees
- AMM+ users earn a 0.03% FLEX rebate from each trade
- Lower taker fees than DEXes (0.04% vs 0.30%) result in more chances to trade against the AMM
3) Multiple collateral types
Users are able to use any asset as collateral when opening a leveraged AMM+ position. This means, that if users have assets earning little to no yield elsewhere, they can put the funds to work in the AMM+ as collateral. For example, if users want to open an ETH/USD position, they can use other assets such as BTC or DOGE as collateral.
ABOUT Hummingbot.io
Hummingbot is the leading open-source software for building market-making and arbitrage bots.
ABOUT CoinFLEX
CoinFLEX is the Home of Crypto Yield and is committed to providing passive investors and active traders an accessible platform to earn and trade crypto.
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