Provide your trading wallets addresses and sign them to verify ownership. We will use them to track your activity on the decentralized exchanges.
Trades made on any pair-exchange combination, with an active pool will qualify for rewards. Check the leaderboard to see your progress: the higher you rank, the more you earn.
Rewards will be accrued daily, based on your total trading activity as compared to all other participants. Rewards will be sent to you on a weekly basis.
Signing up is really easy: no KYC needed, no personal info, only an email address is needed. Visit the sign-up page.
No, any existing Miner user will be able to log in with the same email address.
At the moment, it is only possible to link a Metamask wallet. We will add more options in the future.
Trading on decentralized exchanges is made by transacting between a user’s wallet(s) and the exchange’s smart contract. All transactions are on-chain and thus public, so we only need to know the user’s address in order to track their trading activity. To do so, we ask them to connect that same wallet to our platform and sign a transaction, so we can get the wallet address but also validate its ownership (otherwise users could just look up wallets that trade frequently and add those to rip the rewards). Once every minute, our backend system “scans” the blockchain looking for the user address and records any new trading activity on token pairs with active reward pools. The system has an intentional 10 minutes lag, so trades will start showing on the platform after that period.
Users can add as many wallets as they want, but in order to prevent them from creating multiple accounts using the same wallet’s and rip multiple rewards for the same trading activity, previously used wallets cannot be added again (they will automatically be blocked by the system).
Two main reasons: first, given the increasing amount of competition in the decentralized world, exchanges see dMiner as a tool to attract new users; second, our community can run strategies between DEXs and centralized exchanges, helping keep prices in-line between the two worlds. This is of particular interest to token issuers. This last idea opens a new source of revenue to our users: in addition to running market making bots on the Miner, it is now possible to run arbitrage and cross exchange market making bots, bridging the decentralized and centralized realms, and ripping rewards on both sides of the trade. We will provide more info on how to set up these strategies in the following days.
There are 2 Hummingbot Client built-in strategies that can be used to participate in dMiner:
• Cross exchange market making (xemm)
What is cross exchange market making?
Intro video to xemm
Official strategy docs
• AMM Arbitrage
Official strategy docs
Also, in order to be able to run any of the above strategies, you will need to setup Hummingbot Gateway. Users can also just participate by manually trading on the participating AMMs or use other trading bots.
Rewards are calculated daily, based on the % of the square root of your total trading volume as compared to the square root of all participant's volume. A cap is also applied, in order to avoid reward concentration. This cap can be different for each reward pool and might change over time.
There are several reasons why the daily reward pool might not be totally allocated on any given day:
• Since for some reward pools we impose a cap on the max amount of rewards that any single user can get, if less than 100/cap users hit the cap, we will be left with unallocated rewards.
• If we have an outage during which we cannot pick up user’s activity for any particular day, we will be left with that/those day’s rewards unallocated.
• No users participate during any given day.
Any “leftover” rewards will be evenly distributed between the remaining days in the active period (Tuesday 00:00 UTC to Monday 23:59 UTC).
E.g: $1,400 weekly pool → $200 daily pool, only $100 gets allocated on first day, remaining pool is now $1,300, so new daily rewards become $1,300/6= $216.7 and so on (day’s pool = Total Remaining Pool/Remaining days in period)
Rewards are accrued daily but paid out on a weekly basis, with the same schedule as the Miner.