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Home Networks & Protocols

Zcoin (XZC) partners with Hummingbot for community market making

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.

Published by CryptoNinjas.net
11/04/2019
Zcoin (XZC) partners with Hummingbot for community market making

The team of Zcoin, a next-generation privacy protocol cryptocurrency, announced it has formed a new partnership with Hummingbot as a liquidity mining launch partner to make the coin’s 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.

Liquidity Mining Program

With this partnership, a Liquidity Mining Program for Zcoin will be launched…

In the near future, individual traders will be able to access high-frequency trading strategies that were previously only available to quantitative hedge funds. The program will enable individuals to earn payments based on the actual, measurable liquidity they create for Zcoin.

“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.”
– Reuben Yap, COO of Zcoin

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.

“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.”
– Michael Feng, co-founder and CEO of Hummingbot

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