PRESS RELEASE. October 22nd, 2023 — Bitcoin.com, a global leader in introducing newcomers to cryptocurrency, is thrilled to announce the launch of an innovative campaign aimed at enhancing liquidity and trading volumes for the VERSE/USDT trading pair on KuCoin. This strategic campaign will be executed in partnership with Hummingbot, the foremost open-source market making bot.
Structured around Hummingbot’s Liquidity Miner platform, the campaign focuses on incentivizing market makers and the Hummingbot community for their market-making services on centralized exchanges, facilitating a more decentralized market-making process. Hummingbot is used by trading firms, individual traders who run bots to earn liquidity mining rewards, and cryptocurrency projects who want to own their liquidity.
Starting on October 24, 2023, 00:00 UTC and scheduled to run for a period of 12 weeks, the campaign offers rewards aimed at encouraging participation, with a total of $15,000 in Bitcoin.com’s ecosystem token VERSE to be distributed over the course of the program, equating to $1,250 in VERSE per week.
Anyone with sufficient technical skills can harness Hummingbot’s open-source code to set up a bot, or bots, to support market making and earn rewards for doing so. Bitcoin.com was attracted to Hummingbot by the Hummingbot Foundation’s mission to, “democratize high-frequency trading,” a mission aligned with Bitcoin.com’s to create more economic freedom in the world.
Corbin Fraser, Head of Financial Services at Bitcoin.com, stated that, “market-making and high frequency trading have traditionally only been accessible to wealthy individuals or businesses. We’re excited to showcase Hummingbot’s ability to level the playing field, while also enhancing liquidity and trading volume of the VERSE token. VERSE, being the world’s gateway to DeFi, plays a pivotal role in facilitating greater economic freedom, allowing individuals to navigate the financial sphere with autonomy and confidence.”
Bitcoin.com is building products that give everyday people access to a vast world of opportunities to generate personal prosperity without limits. Since 2015, Bitcoin.com has been a global leader in introducing newcomers to cryptocurrency, featuring accessible educational materials, timely and objective news, and easy-to-use fully self-custodial products for buying, spending, trading, investing, and earning with crypto.
About Verse VERSE is the rewards and utility token for users who contribute to and participate in the Bitcoin.com ecosystem. Launched in December 2022, the VERSE token is designed to expand access to decentralized finance and help unlock the economic freedom it provides. Since launch, VERSE has experienced rapid integration into web3 platforms, as evidenced by August and September’s partnership/integration overviews.
Hummingbot, since being open-sourced in 2019, has firmly established itself as the premier open-source market-making bot, championing accessibility and inclusivity in liquidity provisions. Serving a diverse user base, from token projects and small trading firms to individual traders, Hummingbot offers a suite of tools that allow for the creation, backtesting, deployment, and management of automated trading strategies.