Bitrue, a tier 1 digital asset exchange,is set to list HBOT on February 20, the native token of the Hummingbot open-source crypto algo trading operating system. The upcoming listing is HBOT’s debut on a centralized exchange (CEX), a move anticipated to significantly bolster the growth and dynamics of the Hummingbot community.
Launched in April 2019, Hummingbot is an open-source framework for building high-frequency market-making and algorithmic trading bots on the cryptocurrency market. The project is on a mission to level the playing field for traders worldwide; they aim to make sophisticated trading strategies and technology accessible to everyone. Anyone, even those with limited technical knowledge, can create, customize, and monetize automated trading bots in Hummingbot's ecosystem through user-friendly software. Besides leveraging a command-line interface (CLI) for user interaction and configuration, traders benefit from optimized performance through a technology stack that incorporates Cython. Additionally, they can utilize market-making strategies, providing liquidity through bots to enhance their trading strategies.
According to a recent governance proposal, the Hummingbot community decided to list HBOT on a centralized exchange to improve the token's liquidity. The author of the proposal urged members to select Bitrue for HBOT's first CEX listing due to its history of stable operation, 8/10 trust score on CoinGecko, and prominent rank among the top 25 spot digital asset trading platforms. In fact, CoinMarketCap lists Bitrue as the sixth crypto exchange by 24-hour spot trading volume as of January 24, 2024.
After the unanimous approval of the governance proposal, HBOT is set for imminent listing on Bitrue's platform. Following the token listing, the exchange is launching a campaign to foster active participation and interest among its community for Hummingbot's native coin. As part of the initiative, $2,000 worth of HBOT is allocated to a BTR vote campaign to generate anticipation and excitement leading up to the listing. Also, a staking campaign with rewards worth $8,000 of HBOT is rolled out to boost enthusiasm among community members. The Hummingbot Foundation is financing the $10,000 bounty.
"Hummingbot is democratizing access to high-frequency crypto market-making and algo-trading through an open-source framework and user-friendly software. Bitrue is glad to help the team get closer to fulfilling this mission by listing HBOT on the exchange. This will increase accessibility to a much broader audience and encourage more traders and LPs to join Hummingbot's ecosystem. I expect HBOT's Bitrue listing to greatly benefit the Hummingbot community through a more diversified user base, a significant growth in trading activity, and enhanced liquidity," said Anchit Goel, Bitrue’s Head of Listings and Partnerships.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
