AutoFarm is a new, upcoming DeFi yield optimizer that has been garnering some attention. The project has an ICO coming up on the 11th of July and aims to provide an opportunity for investors to earn passive income through their investments in the platform’s cryptocurrency.
AutoFarm is a new contender for the DeFi yield optimizers. It has a low entry price, and promises to be profitable in the long-term.
It may be tough to maximize your assets to their maximum potential while DeFi is in full gear and loaded with tens of billions of dollars in liquidity. Prices and markets change in the blink of an eye, and even one erroneous transaction may be expensive. Transaction costs are exorbitant, and you must handle everything like a full-time Wall Street trader. So, why not attempt to discover methods to make things simpler for yourself? And we’ll talk more about it in our AutoFarm review.
Decentralized finance yields are undeniably lucrative, with double-digit percentage returns and higher. However, monitoring each asset, as well as the inefficiencies in high transactional costs and rapidly losing sight of the market as a whole, takes a lot of time.
That’s why yield farming aggregators like AutoFarm exist, automating all of that for you to optimize profits utilizing the lightning speeds of smart contracts. Interested? Then continue reading our AutoFarm review to learn more…
What Exactly Is AutoFarm?
AutoFarm is a decentralized protocol based on the Binance Smart Chain (BSC) that provides users with both a yield farming and a decentralized exchange (DEX) aggregator. They’re also using the HuobiEco (HECO) blockchain as part of their multichain network.
The aim of AutoFarm is to simply assist its customers in better managing their DeFi gains. As of the time of writing this AutoFarm review, their whole network had a total amount of liquidity locked in excess of $1.04 billion.
Aside from its primary yield farming and DEX aggregation capabilities, which we’ll go over in more detail below, they’ve also just purchased armol.io, which is also based on the Binance Smart Chain. Armol.io is a smart portfolio manager that allows users to keep track of their assets and holdings on BSC. AutoFarm has two major components that we’ll examine at: its yield farming optimization tool, AutoFarm Vaults, and their DEX aggregator, AutoSwap.
What Is AutoFarm’s Yield Farming Optimizer and How Does It Work?
It works very easily with AutoFarm Vaults by scanning across DeFi protocols on both the BSC and HECO blockchains and determining which protocols provide the highest returns, either via liquidity pools, AMMs, or yield farms.
Once you’ve discovered them, AutoFarm will offer them to you as a Vault. Normally, if you want to optimize your grains from yield farms and liquidity pools on a continuous basis, you’d have to do it manually.
This implies rerouting freshly acquired yields and either compounding or reinvesting them back into the pool to generate even greater returns over time. Manually entering the market is wasteful since each transaction may carry a network-wide gas charge, or it may be excessively sluggish, causing you to miss the best price and time to join the market. Maybe you’re missing out on the greatest yields since you haven’t looked into alternative methods.
All of this is solved by AutoFarm, which gathers all of the available pools and farms onto a single platform. You may then pool or stake your tokens into these pools, where AutoFarm can utilize smart contracts to apply automatic compounding and reinvesting features to optimize your profits.
This auto compounding function operates at empirically optimum levels to attempt to offer you the cheapest pricing while also pooling gas expenses to save you money on fees.
What Else Might AutoFarm Be Able to Do?
Aside from the advantages stated in our AutoFarm review, AutoFarm’s smart contracts may be configured with unique methods to improve yields even further, thanks to a patented dynamic harvesting optimizer. This allows you to make the maximum money possible.
In other words, you may let your assets and investments grow in the background as AutoFarm Vaults works your crypto tokens throughout the DeFi sector to increase your returns.
We have AutoSwap as the other service they provide. This is a decentralized exchange (DEX) aggregator that allows you to get the most competitive rates for your token swaps. When you swap one token for another, AutoSwap will divide the transaction over several DEXes at the same time. As a result, you’ll be able to get the greatest rates for that swap with the least amount of slippage.
What Are the Benefits of Using AutoFarm?
In our AutoFarm review, we discovered that their procedure is quite easy to use and browse. It’s also simple to use, since there are just two services available: AutoFarm Vaults and AutoSwap. Here are some examples of how AutoFarm may be used…
1. Vaults at AutoFarm
The one major advantage of utilizing AutoFarm is that it offers a lot more choices – or Vaults – to choose from than some other DeFi yield farming programs. There are at least 169 individual vaults on the Binance Smart Chain, with 20 more on HuobiEco at the time of writing this AutoFarm review. You may then browse through the Vaults to check which protocol they belong to, such as those hosted on PancakeSwap, Bakery, or native AutoFarm yield farms.
In terms of how they compound your profits, each one will have a different yield farming strategy. Currently, the largest Vault by total value locked is a “USDT-USDC-BUSD-DAI BLP” farm, which pays out more than 24% APY.
A “USDG-xGMT LP” farm, on the other hand, would be the most profitable, with at least 89.1K percent APY. Granted, large gains are often associated with a high level of risk. When it comes to fees, AutoFarm is one of the most affordable on the Binance Smart Chain.
When you click on a specific Vault, a number of various costs are highlighted, including a platform charge that goes to the Treasury, deposit fees, and a Vault fee. For Vaults that do not provide AUTO tokens, the Vault charge is often set at 1.5 percent or 3.0 percent. In any case, a portion of the Vault fees will be used to fund a repurchase and burn scheme, in which AutoFarm’s AUTO tokens will be purchased and subsequently burned to decrease the quantity.
2. AutoSwap is a feature that allows you to automatically switch between two different
AutoSwap is a DEX aggregator based on the Binance Smart Chain, as we discovered in our AutoFarm review. It’s currently in the Alpha stage of development, but a complete roll-out and optimization should be available shortly. In practice, AutoSwap will route and divide your transactions over several DEXes to get the best price depending on available liquidity whenever you start a token exchange.
Its clever routing technology is presently available on three exchanges: PancakeSwap, BakerySwap, and JulSwap, and it does not charge any extra costs.
What Are AUTO Cryptocurrency Tokens From AutoFarm?
The AUTO token, which is a BSC-based BEP-20 utility and governance token, is the AutoFarm network’s native currency. Users may participate in on-chain community governance by staking it, which includes proposing and voting on network improvements.
Otherwise, it may be a useful token to just keep. Staking AUTO allows customers to get extra benefits from AutoFarm’s costs. The previously stated buyback and burning are also beneficial.
Since a result, AutoFarm’s AUTO tokenomics are deflationary, as their quantity is restricted and will be burnt repeatedly to create scarcity. The entire quantity of AutoFarm’s AUTO is limited to 80,000 coins, which will be produced and distributed in a linear fashion beginning in December 2020 and ending in October 2021. About three-quarters of its supply is marketed to the general public, with the rest going to the founding team and treasury reserves.
AUTO is currently priced at $1,473.38 at the time of writing this AutoFarm review. Despite a 301.78 percent increase from its all-time lows of $363.81 in February 2021, the price of AUTO is still 89.20 percent behind its all-time highs of $13,532.25 in the same month. AutoFarm’s AUTO is the 701st most valuable cryptocurrency on the world, with a market value of $21,341,611.
What Will AutoFarm’s Roadmap Updates Look Like in the Future?
The most interesting news to emerge from this AutoFarm assessment is the company’s intentions to ultimately enable farms built on Polygon, an Ethereum blockchain Layer 2 scaling solution, allowing AutoFarm to tap into Ethereum’s vast DeFi network. They also have a detailed strategy for the remainder of 2021. The majority of 2021’s second and third quarters will be spent integrating new Vaults and growing into new blockchains.
Not only will AutoFarm consolidate additional Vaults from BSC and HECO, but it will also see AutoSwap make a move to support DEXes on the Polygon (MATIC) and Avalanche (AVAX) chains, respectively. Q4 will be more ambitious, delivering completely new features such as AutoTrade, an intelligent trade execution service, and AutoAnalytics, which will integrate machine learning and large data analysis all in one for DeFi, as well as building on Polkadot for its Vaults.
Conclusion of the Review of AutoFarm
As a result of our AutoFarm assessment, we’re quite enthusiastic about the possibilities that lay ahead of them in the next months. If there’s one disadvantage to utilizing AutoFarm right now, it’s that, despite the large number of yield farms and methods it’s collected, it hasn’t been able to apply its intelligence and ease of automation to the potentially more profitable yield farms on Ethereum or other blockchains. More would be better, but there’s enough to enjoy right now.
It’s a gift to be able to sit back and relax while AutoFarm’s smart contracts and intelligent tools take care of the heavy lifting. That’s not to mention all the additional optimization and calibration that a smart contract can perform in milliseconds that a person can’t, ensuring that your valuable cryptocurrency provide the highest potential returns. Overall, AutoFarm is an excellent platform for anybody seeking to maximize DeFi’s already enticing earnings.
- Values of the Project
- Model of Tokenomics
- Sustainability in the Long Run
- On both BSC and HECO, there are over 200 unique Vaults that provide a wide range of yield farming methods and tools.
- Through auto-compounding and reinvesting returns, users may simply automate their DeFi assets and investments.
- Due to effective gas cost pooling for all users, it has extremely cheap fees when compared to other comparable protocols.
- AUTO tokens may become a very valuable asset if deflationary tokenomics and a burning program are implemented.
- At no extra cost, a DEX aggregator can find you the best token switching prices across various DEXs.
- Only BSC and HECO are currently supported, with no support for Ethereum or other blockchains.
AutoFarm Review 2021 is a new cryptocurrency that has been recently released. It is currently the top contender for DeFi yield optimizers. Reference: autofarm max supply.
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