Hummingbot is democratizing algorithmic trading through open-source software that lets you build and run customizable trading strategies. Automate your cryptocurrency trading on centralized exchanges and decentralized protocols. The organization gives everyone in the world algorithmic trading superpowers that were previously available only to large financial institutions. Hummingbot believes this will lead to a more open, fair, and inclusive global financial system.
Hummingbot is leveraging Algorand after experiencing growing fees on Ethereum for ERC20 payments for liquidity mining payments that made their business model extremely inefficient and prohibitive. With native support for USDT and USDC, Algorand provides an effective method for stablecoin payments. Hummingbot is initially rolling out Algorand USDt payment method for the Algorand liquidity mining campaign and are exploring ways to extend this for other liquidity mining campaigns. The efficiency of the Algorand blockchain allows Hummingbot to pay out any amount of rewards earned. In contrast, Hummingbot imposes a $50 minimum payment amount for rewards paid out in ERC20 tokens.