Announcements

Zcoin partners with Hummingbot to enable Community Market Making

By November 2, 2019 No Comments

We are proud to partner with Hummingbot as a Liquidity Mining launch partner to make market making more open, transparent, and efficient. Powered by the open-source Hummingbot software client, a pool of independent users can utilize their own cryptocurrency holdings and computing resources to provide liquidity for partners and earn token-based rewards in the process.

With this partnership, a Liquidity Mining Program for Zcoin will be launched to the general public in the near future. Individual traders will be able to access high-frequency trading strategies that were previously only available to quantitative hedge funds and earn payments based on the actual, measurable liquidity they create for Zcoin.

Reuben Yap, COO of Zcoin, said, “We at Zcoin are very excited with our partnership with Hummingbot which democratizes market making and liquidity provision by empowering the community with the tools to do so. Liquidity Mining allows market making to be done in a transparent and fair manner and frees the project from having to lock up funds with market makers for liquidity which can be challenging for community projects. We are glad to be a part of this historic moment in opening up a totally new approach to liquidity provision.”

“For a cryptocurrency like Zcoin to be used by everyone in the world, it has to be highly liquid and available in every market. Yet cryptocurrencies are held hostage by hedge funds who charge crazy sums of money for market making while providing little transparency. With Liquidity Mining, tokens finally have another option: empowering token-holders in their community to provide measurable, beneficial liquidity by running Hummingbot,” said Michael Feng, co-founder and CEO of Hummingbot.

Both Hummingbot and Zcoin anticipate a successful collaboration, and deeply believe a strong synergy exists by combining Hummingbot’s ability to decentralize market making with Zcoin’s strong community and proven privacy-enhancing technology.

Zcoin is a Hummingbot liquidity mining launch partner with other prominent names in the space such as Liquid, 0x, Bitcoin.com exchange, Harmony, Solana, Loopring and iExec.