Auto

What is Auto?

AUTO serves as the native cryptocurrency within the AutoFarm ecosystem, designed to perform various utility functions such as collecting fees from cross-chain vaults and DEX aggregators. Additionally, AUTO operates as the governance token for AutoFarm. Notably, AutoFarm asserts that AUTO is a deflationary token, with collected vault fees being burned. Token burning involves transferring a specific quantity of tokens to an inaccessible wallet, permanently removing them from circulation and contributing to the gradual reduction of the token supply.

AutoFarm, operating as a decentralized application (DApp), spans multiple blockchain networks. According to the platform, its primary objective is to assist users in optimizing their decentralized finance (DeFi) returns at a minimal cost. Initially launched on the Binance Smart Chain (BSC), AutoFarm is now accessible on various networks such as Polygon, Huobi ECO, Avalanche, Fantom, Celo, Harmony, and more.

The AutoFarm platform acts as a yield farming aggregator, a strategy within the DeFi space involving lending or staking crypto assets to earn rewards in the form of yield or transaction fees. AutoFarm provides users with two key tools for optimizing their yield: AutoFarm Vaults and AutoSwap. The AutoFarm Vaults house automated strategies offered at a reasonable cost to users.

AutoSwap, on the other hand, functions as a decentralized exchange (DEX) aggregator. As a financial protocol, it enables users to access multiple trading pools seamlessly. AutoSwap aims to deliver superior swap rates compared to direct engagement with DEXs, without incurring additional fees. Other products within the ecosystem include AutoPortfolio, AutoAnalytics, Farmfolio, among others.

Fees For Autofarm's Vaults

Autofarm stands as the most economical yield optimizer across the entire multi-chain landscape. Recognizing that fees can erode profits from valuable yields, the platform imposes the minimal fees among all the chains integrated by Autofarm (All APY & APRs displayed already factor in fees). A comprehensive analysis of market rates for competing yield optimizers reveals that Autofarm consistently ranks at the forefront for charging the least platform fees. In the interest of transparency, all pertinent fees pertaining to each specific vault are accessible in the vault's dropdown section on the platform.

Auto Team Background and Partnerships

The AutoFarm token (AUTO) made its debut on December 15, 2020. The platform was established by Mildgiraffe, a pseudonymous individual serving as the CEO of AutoFarm. Likewise, the entire AutoFarm team has chosen to maintain their anonymity.

Autofarm boasts more than 40 partnerships, with the most notable names being Alpaca, ApeSwap, BitBomb, Cherry, Curve, Geist, KuSwap, Magician, PancakeSwap, Polaris, SingularityDAO, Spirit, Sushi, and YUZU.

Auto Project Development

Currently, AutoSwap supports four chains: BNB Chain, Cronos, Polygon, and Avalanche. AutoSwap intends to expand its presence to all chains where vaults have been deployed. To achieve this, a new double-layered approach to AutoSwap has been devised. The first layer, termed the "Linear routing model," is designed to provide users with optimal swap returns on any DEX listed on AutoSwap. Additionally, the "Advanced routing model" serves as a liquidity pool aggregator, distributing trades among different sources to offer the best rates with the lowest slippage to users.

Both the Linear and Advanced routing models function as DEX aggregators, and the latter can be extended to specific chains based on sufficient trading volume. The incorporation of this option across multiple chains serves several purposes, including:

• Providing a comprehensive, all-in-one solution for the user base.
• Introducing features like one-click deposits into the vault system.
• Conducting beta testing for usage to consider deploying the more complex version.
• Establishing synergies with upcoming products, such as AutoFund.
• Saving users time by aggregating the best DEX options on each chain.

AutoSwap is poised to play a pivotal role in supporting the entire AutoFarm ecosystem, bringing the platform one step closer to its primary goal. Several additional features are under consideration, including:

• Dollar Cost Average (DCA) trade order function, allowing automatic execution of trades with customizable amounts based on the percentage price rise and fall of a particular asset.
• Limit-order functionality.
• Cross-chain swaps and deposits into vaults.

Auto Price Analysis

As of November 24 2024 Auto has a marketcap of $1.1M. This is {{percentagefromath}} from its all time high of $13.98894K. In terms of its tokenomics, there's a total supply of 81K with 95% currently outstanding. Keep in mind Auto has a fully diluted value of $1.1M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude