AutoFarm Review 2021 (AUTO) – [Newest Top Contender for DeFi Yield Optimizers?]
AutoFarm Review 2021 (AUTO) – [Newest Top Contender for DeFi Yield Optimizers?]
This is a new year, which means it’s a smart time to study up on the newest crop of alternative investments. Thanks to the ICO boom, there is a seemingly endless number of new digital coins and tokens that are being created to fund new ventures, industries, markets, and entire services. The market has become too large and diverse to cover with a single blog, but we’ll do our best to keep up with crypto news over the coming months.
It’s taken me a while, but I think I’ve finally found the right fit for your portfolio. That’s right, I’m talking about AutoFarm! It’s been a while since I’ve been able to take a team of robots and dive deep into the crypto industry. It’s been a blast to watch all the progress my machines have made. Of course, I’m still in crypto, and I’ve still got all my machines running on AutoFarm, but I feel so distant from them lately.
When DeFi is running at full speed and filled with tens of billions of dollars in cash, it can be quite difficult to fully optimize your investments. Prices and markets change in an instant, and even a single premature transaction can be costly. The transaction fees are a killer, and you have to manage everything like you’re a normal Wall Street trader. So why not try to find ways to make your life easier? We will discuss this in more detail in our article on AutoFarm. The returns from decentralized funding are undoubtedly very high, with returns in the double digits and higher. However, this requires a lot of effort to keep track of each asset, as well as inefficiencies in the form of high transaction costs and a rapid loss of control over the overall market. That’s why there are crop aggregators like AutoFarm that use the lightning speed of smart contracts to automate everything for you and maximize profits. Interested? Then read our review of AutoFarm for more information…..
What is an engine court?
AutoFarm is a decentralized protocol, built and managed by the Binance Smart Chain (BSC), that provides its users with both a crop aggregator and a decentralized exchange (DEX). Since it is a multi-chain network, it also runs on the HuobiEco (HECO) blockchain. AutoFarm’s goal is simply to help its users better manage their income on the DeFi. At the time of writing this AutoFarm review, their entire network has a total value of over $1.04 billion in escrowed cash. In addition to their DEX harvesting and aggregation base tools, which we’ll talk about later, they also recently acquired ƒarmƒol.io, which is also built on Binance Smart Chain. ƒarmƒol.io is a smart portfolio manager that allows users to easily track their assets and holdings on BSC. AutoFarm has two main components that we will examine: a crop optimization tool called AutoFarm Vaults, and a DEX aggregator called AutoSwap.
How does the AutoFarm Yield Optimizer work?
In the case of AutoFarm safes, it works very simply: They look for DeFi protocols on the BSC or HECO blockchain and determine which offer the best returns, either through liquidity pools, MSAs or yield farms. Once found, AutoFarm will suggest them for storage. To continually maximize your income from yield farms and liquidity pools, you usually have to do it the old-fashioned way manually. This means that you use this newly earned income and compound or reinvest it in the pool for even higher returns over time. It is inefficient to do this manually, as you risk paying network-wide gas charges for each transaction, or it is too slow, so you risk missing the right price and the right time to enter the market. Or maybe you’re missing out on better returns in other areas that you haven’t paid attention to before. AutoFarm solves all these problems by combining all the available pools and farms it can find into one platform. You can then pool or bid on your chips, and AutoFarm can automatically apply compounding and reinvestment features to maximize your profits through the use of smart contracts. This automatic dialing feature works at preset optimal levels and tries to offer you the best prices, combining your gas costs to save you money on your payments.
What else can AutoFarm do?
In addition to the benefits listed above in our AutoFarm review, AutoFarm Smart Contracts can be programmed with unique yield optimization strategies, and the patented Dynamic Crop Optimizer allows you to maximize yields. In short, you can grow your assets and investments automatically in the background while AutoFarm Vaults actively works with your crypto-currency tokens in the DeFi space to enrich your income. And for the other service they offer, we have AutoSwap. It is a decentralized exchange aggregator (DEX) that offers the most competitive prices for token exchanges. Essentially, when you trade from one token to another, AutoSwap splits that transaction across multiple DEX at once. The bottom line is that you can get the best prices for a particular transaction with the least amount of slack.
How can you use AutoFarm?
In our review of AutoFarm, we found that their protocol is generally pretty easy to use and navigate. It is very easy to use because there are only two separate services that you can use: AutoFarm Vaults and AutoSwap. Here are some of the ways you can use AutoFarm…. you can use
1. Pharmaceutical safes
One of the main advantages of using AutoFarm is that there are many more options – or storage options – to choose from compared to some of the other DeFi breeding tools. There are no less than 169 individual vaults on Binance’s smartchain and another 20 on HuobiEco at the time of this AutoFarm review. You can then scroll through the list to see which protocol these stores belong to, for example. B. those from PancakeSwap, Bakery, or AutoFarm’s native crop nurseries. They each have their own strategy for increasing their income. The BLP Farm USDT-USDC-BUSD-DAI fund is currently the largest safe haven in terms of total closed-end fund value and offers a return of over 24% APY. The most profitable holding is USDG-xGMT LP, which has a return of at least 89.1% APY. Of course, high returns often mean high risks. In terms of commissions, AutoFarm is one of the cheapest in the Binance Smart Chain in this regard. When you click on a particular vault, a number of different costs are shown, such as the platform fee that goes to the Treasury, the deposit fee, and the vault fee. In general, vault fees are set at 1.5% or 3.0% for vaults that do not contribute AUTO tokens. In all cases, a small percentage of the profits from the vault fees will be allocated to a buyback and burn program where AUTO tokens will be bought back from AutoFarm and then burned to reduce their inventory.
2. Automatic changeover
As we learned in our AutoFarm review, AutoSwap is a DEX aggregator based on the Binance smartchain. It is currently still in alpha development, but full implementation and optimization should be possible soon. In practice, when you initiate a token exchange, AutoSwap sends your trades through several DEXs and splits them to find the best price based on available liquidity. The smart routing system does not incur any additional costs and is currently active at three fairs – PancakeSwap, BakerySwap and JulSwap.
What are AutoFarm’s AUTO crypto currency tokens?
The AutoFarm network’s own currency is the AUTO token, which is a utility and management token based on the BEP-20 BSC. For example, betting allows users to participate in the management of the network. B. to propose and vote on amendments to the network. It can also be a valuable memento that you can just hold in your hands. The AUTO rate allows users to earn additional rewards through fees charged on AutoFarm. The aforementioned buybacks and burns also help. Thus, the tokenization of AUTO tokens by AutoFarm is deflationary, since their supply is limited and they are permanently burned to increase their scarcity. AUTOFarm’s total supply is only 80,000 units and will be linearly minted and distributed to the public from December 2020 to approximately October 2021. About three quarters of the offerings will be sold to the public, with the rest distributed to the founding team and their own reserves. In terms of cost, AUTO is priced at approximately $1,473.38 at the time of this AutoFarm review. Although AUTO’s share price has increased by 301.78% from its low of $363.81 in February 2021, it is still 89.20% below its high of $13,532.25 in the same month. With a market capitalization of $21,341,611, AUTO by AutoFarm ranks 701st most valuable crypto-currency.
What will future updates to the AutoFarm route map look like?
The most interesting news to come out of this AutoFarm review is the company’s plan to take over the farms built on the Polygon. Polygon is a level 2 scaling solution for the Ethereum blockchain, opening up AutoFarm to a massive DeFi ecosystem on Ethereum. They also have a pretty comprehensive roadmap for the rest of 2021. Much of the second and third quarters of 2021 will be spent integrating new storage and expanding to other blockchains. AutoFarm is not only consolidating more storage from BSC and HECO, but will also switch to Polygon (MATIC) and Avalanche (AVAX), and AutoSwap will support DEX on both these channels. Q4 will be even more ambitious, not only with the development of Polkadot for storage, but also with the introduction of brand new features such as AutoTrade, an intelligent transaction execution service, and AutoAnalytics, which combines machine learning and Big Data analytics for DeFi.
AutoFarm Overview – Conclusion
When we recapped our review of AutoFarm, we were all excited to see what prospects the company might have in store in the coming months. If there is a downside to using AutoFarm, it is that despite the huge variety of yield farms and strategies it has, it has failed to offer its intelligence and simple automation for potentially more profitable yield farms on Ethereum or other blockchains. More would have been better, but even in this form there’s a lot of interesting stuff. Being able to sit back and relax while AutoFarm’s smart contracts and tools do the work for you is a blessing. Not to mention the extra optimization and calibration that a smart contract can do in milliseconds, which a human cannot do to ensure that your precious cryptocurrencies make you the most money. Overall, AutoFarm is an excellent platform for those looking to maximize DeFi’s already admirable profits.
Auto Farm Overview
- Project values
- Tokenomics model
- Long-term sustainability
- Offers a wide variety of strategies and tools for cultivation in nearly 200 separate storage facilities at BSC and HECO.
- Users can easily automate their DeFi assets and investments with automatic compensation and reinvestment of profits.
- Provides very low rates compared to other similar protocols by efficiently bundling gas costs for all users.
- The introduction of deflationary tokenomics and the AUTO token burning program could make it a valuable asset.
- The DEX Aggregator can find you the best rates for exchanging tokens on multiple DEXs, at no additional cost.
- Currently, it is only compatible with BSC and HECO, with no support for Ethereum or other blockchains.
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