AUTO serves as the native utility and governance token for the Autofarm protocol, which was launched on the Binance Smart Chain (BSC) in late December 2020. Autofarm functions as a cross-chain yield aggregator, allowing users to earn high returns on their assets through yield farming pools by staking in Autofarm vaults.

Autofarm aims to become a leading DEX and yield aggregator on the Binance Smart Chain (BSC) by combining yield optimization and AMM aggregation into a single product. This unique approach provides users with two functionalities within a single platform, eliminating the need to register on multiple protocols.

In February 2021, Autofarm introduced its first cross-chain vault on the Huobi ECO Chain. Furthermore, in March 2021, Autofarm expanded its ecosystem by acquiring Farmfol.io, an intelligent portfolio manager designed to simplify asset monitoring and tracking on the Binance Smart Chain.

AUTO is the native utility and governance token of the Autofarm protocol. It was launched on the Binance Smart Chain (BSC) in late December 2020. Autofarm is a cross-chain yield aggregator that allows users to earn high returns on their assets by staking in Autofarm vaults.

Autofarm aims to be a leading DEX and yield aggregator on the Binance Smart Chain (BSC) by offering yield optimization and AMM aggregation as a single product. This eliminates the need for users to register on multiple protocols.

In February 2021, Autofarm expanded its ecosystem by launching its first cross-chain vault on the Huobi ECO Chain. In March 2021, Autofarm acquired Farmfol.io, an intelligent portfolio manager for assets on the Binance Smart Chain.

The AUTO token can be used for voting on proposals and receives fees earned from the protocol. The token distribution was community-fair-launched, with only vault users being eligible for participation in the AUTO token vault mining program.

Autofarm was founded by the pseudonymous entity known as @mildgiraffe. The founder has extensive knowledge and experience in the crypto space and smart contract development.

Within two months, Autofarm's total value locked (TVL) increased from $5 million to $537 million, making it the third-largest project in terms of TVL on the Binance Smart Chain as of April 2021. During this period, the price of Auto experienced a significant increase of 654x.

Autofarm differentiates itself from other yield farming projects by offering some of the lowest fees in the market. It also provides cross-chain capabilities, initially starting on the Binance Smart Chain and expanding to the Huobi ECO Chain.

The Autofarm ecosystem consists of two major products: Vaults and AutoSwap.

• Vaults is a yield farming platform that optimizes yields and automates the compounding process, benefiting users by socializing gas costs.
• AutoSwap is a DEX aggregator that ensures users get the best prices for their trades by splitting them across multiple DEXes.

Vaults offer a passive-investing strategy similar to a crypto hedge fund, aiming to increase users' deposited assets without requiring in-depth knowledge of underlying protocols or DeFi.

The AUTO token is minted linearly from December 15, 2020, and the minting will conclude in October 2021. As of April 2021, there are 14,600 AUTO coins in circulation, with a maximum supply of 80,000 AUTO.

The token distribution is as follows: 12% to the development team for ongoing innovation, and 88% allocated for the vault token mining program.

Auto is a BEP-20 token secured using the proof-of-stake consensus mechanism. Autofarm regularly audits its smart contracts to ensure the security of its vaults and operates a bug bounty program in collaboration with Immunefi, a leading bug bounty platform. Community members and developers who identify vulnerabilities in the Autofarm smart contract can receive rewards of up to $100,000.

Auto (AUTO) can be traded on the following exchanges:

• Binance
• MXC
• PancakeSwap
• OpeanOcean

For more information on purchasing Bitcoin (BTC) and other cryptocurrencies, refer to our comprehensive guide.