The Hummingbot Foundation will receive funding from the Kava Ignition Fund to integrate Hummingbot Gateway with Kava.
SAN FRANCISCO, October 26, 2021--(BUSINESS WIRE)--Kava Labs™, an open-source and non-custodial developer of financial products and services for decentralized finance (DeFi) announces Hummingbot Foundation as the latest recipient of funding to support the growth of the Kava Ecosystem.
Hummingbot Foundation, the makers of open-source market-making and arbitrage bot toolkit Hummingbot, has been selected by Kava Labs to receive a portion of the Kava Ignition Fund. The funds will support the integration of the Hummingbot Gateway with the Kava Ecosystem. The partnership is aimed at adding new ways for Kava and Hummingbot users to earn with their crypto while increasing liquidity for exchanges and tokens on the Kava Ecosystem.
"The Kava Ignition Fund is all about accelerating the usage and liquidity of the Kava Ecosystem. Hummingbot is the largest distributed liquidity provider in crypto," said Scott Stuart, CEO of Kava Labs. "We’re thrilled to sign them on and create a custom connection of Hummingbot Gateway to the Kava ecosystem, driving liquidity to every financial protocol that launches on Kava."
The partnership between Kava Labs and Hummingbot will focus initially on adding Kava Swap, Kava’s decentralized exchange (DEX), to the Hummingbot framework. This will allow users to trade and provide liquidity on the DEX using the automated software.
"Hummingbot Gateway helps traders run bots on any protocol - it’s lightweight middleware that integrates with various protocols and can be used alongside Hummingbot or as a standalone component," said Michael Fend, Co-founder & CEO of Hummingbot. "We are excited to integrate Gateway into the Kava Ecosystem and support every DeFi app on the Kava blockchain."
Hummingbot’s integration with the Kava Ecosystem will also provide a new avenue for tokens launching on the Kava Ecosystem to accelerate liquidity by providing incentive rewards for market makers. In the future, Hummingbot may also integrate with other DEXs on the Kava Ecosystem, such as Cosmostation’s upcoming Stable Swap.
About Kava Labs
Kava Labs is the primary development team of the Kava Platform, which underpins the Kava Ecosystem and connects the world’s largest cryptocurrencies, ecosystems, and financial applications. The mission of Kava Labs is to create a secure, scalable home for the future of decentralized finance (DeFi) through a combination of powerful Layer-1 architecture, institutional-grade security, and user experience-driven design.
Launched in 2019, Hummingbot is the leading open-source trading bot project in crypto with 36k+ installs and connectors to over 30 exchanges and protocols including Binance, Coinbase, FTX, Ethereum, Uniswap, Terra, and more.
The Hummingbot Foundation’s mission is to democratize high-frequency trading (HFT) through open source technology. Hummingbot helps you build and run trading bots on any platform, centralized or decentralized. Similar to Bitcoin mining software, Hummingbot is client software that runs on a user’s machine, which prevents users’ private keys and strategies from being exposed externally.
To learn more about the Kava Ecosystem, please visit: https://bit.ly/Kava_Ecosystem
To register your project, please visit: https://www.kava.io/ecosystem
View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005388/en/
Martin Allen Frosage