What is AUTO?
AUTO is a native token of AutoFarm, which is a BSC-based DeFi protocol that provides users with a decentralized exchange (DEX), crypto vaults, and a yield aggregator. Besides, AutoFarm is a cross-chain project, meaning that it can run on multiple blockchain networks. Take a look at the AutoFarm price chart above to see the current AUTO price.
By utilizing the yield farming feature of the AutoFarm protocol, you can stake or lend your crypto tokens to receive rewards. These rewards are paid from staking and yield profits, as well as from transaction fees generated by the network.
In addition to that, AutoFarm offers two other features – AutoFarm vaults and AutoSwap.
AutoSwap acts like a DEX aggregator. It enables users of AutoFarm to have access to different trading pools in one place. It aims to give better swap rates than other DEX platforms, without any extra charge.
AutoFarm vaults, on the other hand, provide users with a collection of automated trading strategies. They were developed to make it easy for people without enough trading experience to trade and carry out staking activities.
Besides, the project also has other features like AutoAnalytics (for making informed analysis before making trading or staking decisions), AutoPortfolio (for managing your staking activities), and FarmFolio (for monetizing your yield farming progress).
Use Cases of AUTO Tokens
AUTO crypto assets are used for various purposes within the AutoFarm ecosystem. For starters, it's the governance token of the project. Holders of the AUTO token can vote on various decisions concerning the further development of the AutoFarm crypto platform. Some of these decisions include platform upgrades, profit management, and so on.
Moreover, as an AUTO token holder, you are entitled to a portion of the transaction fees earned on the platform.
Besides, all fees within the ecosystem are paid using AUTO tokens.
Lastly, AUTO coins are also used for staking and yield farming activities.
Don't forget to check the current AUTO price. It will help you to make better purchasing decisions. You can check it on the AutoFarm price chart above.
Who Founded Autofarm?
AutoFarm was founded by an anonymous developer known as MildGiraffe in 2020. Although much is not known about this person, he or she is described as a person with experience in cryptocurrencies, blockchain development, and smart contracts. Alongside MildGiraffe, the entire team around the AutoFarm project remains anonymous.
AUTO Tokenomics
At the generation event that was held on the 15th of December 2020, 80 thousand AUTO tokens were created. This is the maximum supply of AUTO. From this number, 74.5% of the available tokens were made available for the public, 12.1% were given to the anonymous core developer team, and 13.4% were set aside in the AutoFarm reserve.
The AUTO token was designed to be deflationary. Fees collected on the platform are burned in a bid to reduce the tokens in circulation. This is supposed to grow the AUTO price over time, or, at least, keep it relatively stable.
