Oct 30, 2019, Mountain View, California – Hummingbot is excited to announce that Zcoin, one of the first and most trusted privacy-focused cryptocurrency that aims to enable private financial transactions, has become Hummingbot’s latest Liquidity Mining Launch Partner.

Today, Hummingbot is launching Liquidity Mining, a new digital marketplace for liquidity that aims to make market making more open, transparent, and efficient. Powered by the open-source Hummingot 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.

With this partnership, a Liquidity Mining Program for Zcoin will be launched to the general public in the near future. Individual traders will be able to access high-frequency trading strategies that were previously only available to quantitative hedge funds and earn payments based on the actual, measurable liquidity they create for Zcoin.

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

Reuben Yap, COO of Zcoin, said, “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.”        

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.

About Hummingbot

Hummingbot is an open-source software client that allows users to create and customize automated, algorithmic trading bots for making markets on both centralized and decentralized digital asset exchanges, as well as a global community of crypto traders and developers. Our primary business model is operating a digital marketplace for liquidity that connects individuals and funds who provide measurable liquidity to digital asset exchanges and crypto projects. The Hummingbot source code is publicly available at https://github.com/coinalpha/hummingbot.

To learn more, please visit: https://hummingbot.io

About Zcoin

Zcoin (XZC) is a cryptocurrency focused on transaction anonymity and privacy.

Zcoin is the first coin to develop and implement the Sigma privacy protocol, which uses a burn-and-redeem mechanism to destroy coins and later redeem them as-new to eliminate their connection to previous transactions and has also created the Lelantus privacy protocol which offers ZKP privacy without trusted setup or exotic cryptography that is set to launch in 2020. It also utilizes Dandelion++ to mask the origins of transactions on a network layer.  Zcoin is also the first coin to develop and implement Merkle Tree Proofs (MTP) to enable egalitarian, non-machine specific mining – allowing for better distribution of coins throughout the network. In 2018, Zcoin made history by having the Thai Democrat Party’s primary elections held on its blockchain, with over 127,000 votes cast nationwide.

To learn more, please visit: https://zcoin.io

Media Contact                                                

Yingdan Liang

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+1-669.214.4393

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