Hummingbot’s XDC Liquidity Mining Campaign is a Great Move to Bring Larger Communities Together to Provide Liquidity.

​ 

Hummingbot, a California-based open source DeFi market-making software platform, launched a 12-week liquidity miner campaign for XDC on two prominent crypto exchanges – Gate.io, KuCoin. This XDC-based campaign began Tuesday at 12.00 UTC. This is a significant move by the XDC Network to unify large community to provide liquidity. The Hummingbot-XDC liquidity miners campaign has a total reward pool amounting to 36,000 USD. Hummingbot stated that this campaign offers 30941 XDC as rewards every week for token pairs. Additional rewards include a bounty of 5000 Hummingbot tokens. This XDC-based campaign supports the two token pairs XDC/USDT or XDC/ETH. Participants can take part in the campaign by creating an automatic XDC trading account with KuCoin and Gate.io. On the XDC Developer forum, a detailed set of instructions has been posted. Hummingbot is an open-source software platform that facilitates the creation and operation of high-frequency trading (HFT), crypto bots. The platform is connected to the top DEXs – UniSwap and dYdX, PancakeSwap and CEXs – such as Binance and Coinbase, Kraken and so forth. One of the most important mechanisms for decentralized finance (DeFi) is liquidity mining. This concept was first developed by IDEX in 2017. It is often regarded the most lucrative passive income option available to traders. DeFi users can earn passively by depositing volatile cryptocurrency assets in the smart contracts powered liquidity pools. To leverage their market positions, every trader uses a liquidity mining strategy. The most preferred DeFi liquidity providers (LPs), have higher Annual Percentage Yields (APY). Liquidity mining, on the other hand, is a route to growth marketing for crypto projects and a way to increase decentralization. This 12-week campaign powered Hummingbot helps XDC Network foster decentralization and expand its DeFi sector community. The technical team at XDC recently revealed the status of XDC 2.0, formerly XDPoS2.0, its revolutionary project. This article is not intended to be used for legal, tax, financial, investment, or any other advice.