Hummingbot
HBOT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Hummingbot (HBOT) demonstrates a stark contrast between its underlying software ecosystem and the financial reality of its governance token. On the development and governance fronts, the Hummingbot Foundation maintains robust open-source activity, shipping regular monthly updates (up to v2.16.0 in July 2026), expanding features such as the Condor AI harness and CLI tools, and maintaining functional Snapshot-based community governance with an elected board. However, the tokenomics and market profile present severe structural drawbacks: the project documentation explicitly defines HBOT as having no monetary or economic value, with utility strictly limited to governance voting. Consequently, the token suffers from negligible liquidity (daily volume under $150), a low market cap below $400K, a severe >96% drawdown from all-time highs, and no value capture mechanisms. Security posture shows no formal third-party audits of the core codebase, an unverified team, and high holder concentration (over 77%), though no confirmed smart contract exploits, hacks, delistings, or regulatory actions were identified. The overall weighted score is 5.4/10 with no qualifying red-flag cap triggered.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Hummingbot (HBOT)
HBOT is the governance token for Hummingbot, an open-source algorithmic trading and market-making software framework. Originally launched by CoinAlpha in April 2019, the project was spun off in December 2021 into the Hummingbot Foundation, a Cayman Islands non-profit entity established to oversee the codebase and facilitate community governance. HBOT is issued as an ERC-20 token on the Ethereum blockchain and is used exclusively for decentralized decision-making through Snapshot, including quadratic voting on proposals and the election of the foundation's board of directors.
The tokenomics of HBOT feature a fixed maximum supply of 1 billion tokens with no inflation. All initial vesting schedules have concluded, resulting in approximately 666.5 million tokens in circulation and roughly 333.4 million held in the foundation treasury. Project documentation explicitly specifies that HBOT possesses no economic rights, monetary value, fee capture, or revenue-sharing mechanisms, restricting its utility entirely to governance participation.
While the open-source software maintains active development with monthly releases and integrations, the HBOT token exhibits significant market and security constraints. The token has experienced a 96.5% price drawdown from its all-time high, accompanied by negligible daily trading volumes and a low overall market capitalization. Furthermore, the core Hummingbot codebase has not undergone formal third-party smart contract or security audits, and major holders account for over 77% of the token supply, presenting centralization risks.