AUTO, the native utility and governance token of the Autofarm protocol, was launched on the Binance Smart Chain (BSC) in late December 2020. Autofarm is a cross-chain yield source that allows users to earn high returns from yield farming pools by staking assets in Autofarm vaults.
What is Auto (AUTO)?
Autofarm aims to be a leading DEX and yield source on the Binance Smart Chain (BSC) by combining yield optimization and AMM resources into a single product. This resolves the issue of registering for multiple protocols by allowing users to have two products on one platform.
In February 2021, Autofarm launched its first cross-chain vault on the Huobi ECO Chain. In March 2021, Autofarm expanded its ecosystem by acquiring Farmfol.io, a smart portfolio manager designed to simplify how users track and manage assets on the Binance Smart Chain.
The AUTO token can be used for proposal voting and will receive fees earned from the protocol. AUTO initiated a community-driven fair token distribution, allowing only vault users the opportunity to participate in the AUTO token vault mining program.
Compared to other yield farming projects like Beefy.Finance and ACryptoS, Autofarm claims to have some of the lowest fees in the market. Autofarm also possesses cross-chain capabilities, initially starting with the BSC and expanding to the Huobi ECO Chain (HECO), with more cross-chain products planned in the roadmap.
Auto has two main products: Vaults and AutoSwap.
- Vaults are a yield farming platform that combines yield at optimal intervals and offers excellent yield optimization strategies. They benefit users by socializing transaction costs, automating yield generation, and the compounding process.
- AutoSwap is a DEX aggregator that provides users with the best prices for DEX transactions. It splits transactions across multiple DEXs to ensure the best price value and lowest slippage.
AUTO Coin Review
Being on the BSC has notably drawn attention to the project. Analysts indicate that AUTO coin, as a new cryptocurrency, should be followed, while investors currently appear cautious.
According to CoinMarketCap data, as of the time of writing, Auto Coin is trading at 978USD against the dollar and at 0.02876 BTC against Bitcoin. It’s worth noting that Auto Coin hit its lowest level at 363 dollars on February 3, 2021, and its highest level on June 14, 2021.
Additionally, it has been announced that the total supply of Auto (AUTO) Coin will be 80,000 Auto (AUTO).
How to Buy Auto Coin?
Auto Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy Auto Coin, one must first register on Binance and then send fiat money. Following the sending of a fiat currency like dollars, the purchase of Auto Coin can be done in trading pairs with Tether (USDT), Bitcoin (BTC), and BUSD.
Additionally, on Binance, users can place orders to buy at a price lower than the market value. This can be done using the Limit tab, where you enter the amount and price you wish to pay.
