AutoFarm is a hyper-optimized cross-chain yieldfarming aggregator running on 15 different EVM-compatible networks.
Its DApp (Decentralised Application) was designed to optimize DeFi (Decentralized Finance) users’ yields as they interact with the other DApps in the DeFi space. The application is hosted on BNB Chain (formerly Binance Smart Chain) with no pre-farm, no pre-sales, and to optimize DeFi users’ yield farming at the lowest possible cost.
Like most platforms offering yield aggregating services to participants, AutoFarm is no exception as its decentralized platform possesses features that help to farm and yield aggregating easier. Amongst these are the AutoFarm Vault and AutoFarm stake.
The AutoFarm Vaults is a yield optimizer platform that provides DeFi users with auto-compounded yields at empirical optimal intervals, whilst pooling gas costs through battle-tested smart contract code and best-in-class yield optimizing strategies. To enable the highest APYs on our vaults, Autofarm uses a proprietary dynamic harvesting optimizer. The AutoSwap is a DEX aggregator that gets you the best prices from your DEX trades as it splits your trade across multiple DEXes to ensure the best prices and lowest slippage possible, allowing your trade to become non-front-runnable and non-arbitrageauto-
AUTO is the native utility and governance token of the Autofarm protocol launched in late December 2020 on the Binance Smart Chain (BSC). To ensure fair distribution of $AUTO, only vault users (non-turbo vaults) will be able to mine $AUTO tokens in addition to the yields.
Who Are the Founders of AutoFarm (AUTO)?
Currently, the founder of AutoFarm is unknown as he goes by the pseudonymous entity known only as @mildgiraffe on Twitter. There is little to no information about him, but he is known to have profound knowledge and experience in the crypto space, Blockchain technology, and dealing with codes that develop smart contracts.
What is the use of AutoFarm (AUTO)?
Staking
Crypto staking is a process, like putting money in a high-interest saving account with your bank (back when that was possible. AutoFarm allows people to stake their tokens for income.
Farming
Yield farming is the process of using decentralized finance that allows users to lend or borrow crypto on a DeFi platform and earn cryptocurrency in return for their services to maximize returns. AutoFarm besties the opportunity to allow farming on their Decentralized platform.
Governance and voting
The AUTO token can be used for proposal voting and will receive fees earned from the protocol. Here on the platform, only vault users will have an opportunity to participate in the AUTO token vault mining program.
What Makes AutoFarm (AUTO) Unique?
AutoFarm’s unique property is when compared to other yield farm projects like it has the lowest fees in the market. Autofarm also has multiple cross-chain capabilities and currently supports vaults for chains & networks like BNB Chain (Formerly Binance Smart Chain) (BNB), Polygon Network (MATIC), Huobi ECO Chain (HECO), Avalance chain (AVAX), Fantom chain (FTM), Moonriver chain (MOVR), OEC Chain (OKB) (OKEx), xDai Chain (xDai), Cronos Chain (CRO), Boba Chain (BOBA), Aurora (NEAR), Celo Chain (CELO), Harmony (ONE), Velas (VLX), Oasis (ROSE), to mention a few.
AutoFarm is also compatible with a wide range of Exchange (DEX) aggregators on BNB Chain (Formerly Binance Smart Chain) (BNB), Polygon Network (MATIC), Avalanche (AVAX), and Cronos Chain (CRO).
They yield at normal intervals and provide excellent yield optimization strategies by splitting trades across multiple DEXes to ensure the best price value and lowest slippage.
How Many AutoFarm (AUTO) Coins Are There in Circulation?
There are 14,600 AUTO tokens in circulation out of the 80,000 tokens ( which is the maximum supply figure as provided by their whitepaper).
How Is the Auto Network Secured?
Since DeFi risks are amongst the many drawbacks facing or limiting participation as many fall for scams like wallet-draining and private keys being stolen. Although smart contracts are an innovative way for cryptocurrencies to interact with one another and with dApps their complexities come with certain smart contracts that constitute hacks. To mitigate these risks, AutoFarm’ssmart contracts are built with a 24 he time-lock and every AutoFarm vault will be audited end-to-end to shorten the time needed to implement new vaults and also focus on adding value other than the creation of smart contracts.
Also, AutoFarm employed the services of reputable auditors like CertiK and Slowmist to audit the entire project. To further prevent vault-related risks, AutoFarm divides the vaults into ‘regular vaults’ and ‘non-$AUTO earning vaults’ based on the individual yield farm’s reputability on the BSC space, of which ‘non-$AUTO earning vaults’ are considered riskier and specified on the platform by an explicit warning.
In addition, there is a bug bounty program in partnership with Immunefi. Immunefi is the premier bug bounty platform for smart contracts and DeFi projects, where security researchers review code, disclose vulnerabilities, get paid, and make crypto safer. They remove security risks through bug bounties and comprehensive security services to help drive high-quality decentralized financial products to the public.
How do I buy AutoFarm (AUTO)?
AutoFarm is the perfect yield aggregator with multiple compatibilities with several networks and decentralized platforms. With AutoFarm, here are assured of the best in profits while spending less on gas or transaction fees with products like AutoFarm stake and AutoFarm vault.
The AUTO token can be used for a wide range of uses like staking, farming, and governance.
AUTO tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform or log in if already registered.
* Deposit a specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy AUTO through your trading account.
Which Cryptocurrency Wallet Supports AutoFarm (AUTO)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as AutoFarm Shiborg Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their AUTO wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.
