Wyre Talks

Ep 40, Hummingbot - Community Driven Market Making with Michael Feng, Co-Founder, and CEO

Episode Summary

Michael is the co-founder and CEO of Hummingbot, a platform that allows users to run their own high-frequency market making bot and automate crypto trading. Today, Michael joins us to discuss the Hummingbot thesis that market making can be done safely by anyone. He walks us through the differences among the three off-the-shelf strategies provided by the platform and describes how users can customize their own and share ideas on the Hummingbot community forum.

Episode Notes

Michael Feng was looking for a problem to solve, so he spent September of 2018 talking to everyone he could in the crypto space. The notion of liquidity kept coming up, and without knowing exactly what the solution might be, he and his team set out to answer the question: How do you create the liquidity necessary to attract traders to cryptocurrency markets?

Michael weighs in on the technical and regulatory challenges associated with market making on DEXes, the centralized and decentralized exchanges supported on the platform, and the startup's plan to monetize by way of liquidity bounties. Listen in for insight into the traction Hummingbot has gained since its launch in April and learn about the software's surprisingly diverse user base, including individuals in emerging markets, token projects, and even quant funds.

Follow Thomas on Twitter: https://twitter.com/tomscaria

Follow Mike on Twitter: https://twitter.com/fengtality