HGP-18 [DG] Add FTX perpetual connector to boost FTX fee rebates

Author: fengtality 0x352

Original Post Date: 5 Jun 2022

Snapshot Proposal Link

Hummingbot Foundation recently signed a partnership with FTX (https://ftx.com), one of the leading exchanges by volume in the industry, that will rebate to the Foundation 20% of all trading fees incurred by users of Hummingbot FTX connectors, tracked via a custom identifier in API requests sent using the connector.

Currently, the Hummingbot codebase has a FTX spot connector but no FTX perpetual connector. Since the majority of volume on FTX comes from perpetuals trading, the Foundation believes that adding an FTX perpetuals connector to the codebase would have a marked impact on the level of fees rebated from the FTX partnership.

Since CoinAlpha already owns a working version of the FTX perpetuals connector, we propose to allocate a Developer Grant if CoinAlpha submits a pull request for FTX perpetuals connector, AND it is included in the June 2022 release of Hummingbot, which would enable FTX fee rebates from both spot and perpetual trading on FTX.

Proposed Dev Grant amount: 300,000 HBOT (20,000 Epoch 1 per day guidance * 15 days).

Questions, comments, and suggestions are welcome!

Author: Alpha 0x56d

This is great proposal. It will benefit members as on FTX makers fees can be zero and if get further discount on taker fees by 20% it will be great opportunity. I totally support this proposal

This HGP was actually Rejected, since it only received 2.7M votes while quorum was 4.9M votes. CoinAlpha holders refrained from voting on this HGP since it specifically referenced them.

Based on community feedback on this HGP, the Foundation will refrain from creating HGPs that reference HBOT allocations to specific community members in the future, including CoinAlpha. In addition, CoinAlpha has submitted this connector as a PRP, which means that it will not receive any HBOT tokens for it.

FYI, the Foundation has removed this proposal from Snapshot since it didn’t pass quorum, but because the quorum threshold was updated after the creation of the proposal, it was showing on Snapshot as Approved incorrectly.