Autofarm or AUTO (AUTO/USDT – Trade it here) is a decentralized finance app (Dapp) on Binance Smart Chain (BSC) for yield optimization. It is a cross-chain yield aggregator that allows users to earn a return on their assets by staking them in Autofarm vaults. It provides the best possibility for protocol users to earn the most income by integrating the top vaults accessible on BSC.
Autofarm was originally released on Binance Smart Chain in December 2020. Their goal? Maximizing yield farming at a very low cost for De-Fi customer. With the cross-chain merger of Huobi ECO Chain on February 2021, they received had a large rise of interest. At the peak of their momentum, there are more than US$1 billion total value locked (TVL) in its farming pools. Currently, they are cruising at a little shy of US$48 million TVL.
How does Autofarm Works?
Autofarm operates in a straightforward manner. Its crypto yields automatically compound in the AutoFarm vaults, and the contracts compound at specified periods. This benefits consumers by saving them time and money on gas fees. Furthermore, users that utilize the Autofarm will receive the AutoFarm coin, $AUTO. An additional note, they have one of the lowest fees in the market in comparison with other farming projects.
They have 2 core features; Vaults and Swap. Vault auto-compound your yields at empirical optimal intervals while pooling gas fees. Swap on the other hand, is a DEX aggregator that finds the best pricing for your DEX trades.
What Makes Them Stand Out?
Autofarm has one of the highest APYs in the market, supported by their proprietary dynamic harvesting optimizer. They have high security and strict protection certified by Autofarm Certik and Autofarm Audit. They assists reinvestment of your returns on an empirically proven basis. Their Swap will provide you the best price by splitting your order between at least three DEXes.
AUTO Token and Their Recent Price
AUTO is the native governance token of Autofarm. It can be earned by taking part in yield farming opportunities at their vaults. AUTO is minted at a frequency of 0.008 $AUTO per block with no with no pre-farm nor pre-sale. In terms of distribution, 88% are allocated for vault token mining program and the remaining 12% are dedicated to the team. Currently, the market price for AUTO/USDT stands at $222.8 with a max supply of 80,000 tokens.
How to buy Autofarm Token (AUTO)?
You can buy Autofarm Token (AUTO) on MEXC by the following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “AUTO” using the search bar to see the available trading pairs. Take AUTO/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of AUTO you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy AUTO] to confirm your order. You will find the purchased AUTO in your Spot Wallet.
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