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Hummingbot is open source software that helps you deploy automated, high-frequency trading bots that run on any crypto exchange.
This bounty is for the integration of LBTC and SBTC into Hummingbot and the creation of a strategy to trade similar assets between multiple exchanges for a minimum spread.
**Hummingbot developer docs:**
### User Story:
As a Hummingbot user, I want to provide liquidity in LBTC and SBTC.
### Why is this needed?
LBTC and SBTC have a few differences between spot bitcoin including [pricing](https://medium.com/market-protocol/position-tokens-pricing-on-mpx-explained-7b2d2ddb556f) and leverage, which need to be addressed before trading them with Hummingbot. [See examples](https://docs.google.com/spreadsheets/d/1MEgdZj1mjJTcD5KEV61v5pXBhjv6y_9LDiGqJ9lD2Gw/edit#gid=1702381958) to convert LBTC/SBTC to spot Bitcoin price
Hummingbot’s [cross-exchange market-making strategy](https://docs.hummingbot.io/developers/strategies/cross-exchange-market-making/) is a good starting point/template. This strategy, however, would be different enough to warrant a separate strategy.
Example - A Hummingbot user could quote LBTC/SBTC on DDEX [maker exchange] based on the current spot bitcoin price Binance [taker exchange]. When filled on DDEX an appropriately sized hedge in the right direction is placed on Binance.
There are two main pieces to complete:
- Convert LTBC/SBTC to spot price so Hummingbot can evaluate strategy profitability, hedge ratio, etc.
- Implement a few hedging actions based on the general rules below:
1. If I sell LBTC, I need to buy spot bitcoin
2. If I sell SBTC, I need to sell spot bitcoin
3. If I buy LBTC, I need to sell spot bitcoin
4. If I buy SBTC, I need to buy spot bitcoin
The design is flexible and allows for LBTC/SBTC today but other synthetic assets following a similar construct in the future.
LBTC represents a long Bitcoin position
SBTC represents a short Bitcoin position
LBTC and SBTC are leveraged positions which means they are not hedged 1:1 with the taker exchange.
### Definition of Done:
- [ ] Convert the price of Bitcoin on maker exchange into LBTC and SBTC quote prices
- [ ] Ensure hedge rules above are implemented
- [ ] Review [MP.tools](MP.tools) and [leverage calculations](https://docs.google.com/spreadsheets/u/3/d/1MEgdZj1mjJTcD5KEV61v5pXBhjv6y_9LDiGqJ9lD2Gw/edit#gid=1702381958) so an appropriately sized hedge is placed when filled on LBTC or SBTC.
- [ ] Documentation on usage and configuration
- [ ] Strategy unit tests (we have examples here: https://github.com/CoinAlpha/hummingbot/blob/master/test/)
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