Autoform is a cryptocurrency project that works as a yield aggregator for the Binance Smart Chain (BSC). This platform aims at making it easier for users to handle their DeFi investments by offering products from different platforms in just a single place.
This is just one of the dozens of projects that have been released in the Decentralized Finance (DeFi) market in the last years. Autofarm works with the AUTO virtual currency that powers the entire AUtofarm protocol.
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Autofarm is a cryptocurrency protocol that was launched in December 2020 and that runs on the Binance Smart Chain (BSC). The project offers users yield aggregating services that make it easier for decentralized finance investors to get the highest return on their assets.
This can be done through staking using Autofarm vaults. The project offers dozens of different vaults with different return rates that make it easier for users to handle their DeFi investments on the Binance Smart Chain.
At the moment, some of the highest APY on this platform include the BANANA-BUSD LP (18.9% APY), BANANA-WBNB LP (14.4k% APY) and the sBDO-BUSD LP (8k% APY). In this way, users are able to get the best returns for their crypto investments over time.
The platform is currently offering a wide range of services that range from vaults to a decentralized exchange (swaps) and a dashboard to have valuable information about the different metrics of this platform.
It is worth taking into consideration that users only need to connect their wallets to this platform and start engaging with a wide range of vaults that would reward them on a daily basis. The Autofarm network has now more than $1.6 billion in funds locked. This shows the large support that was received by this platform.
The main services offered by Autofarm include the vaults that give you rewards for staking your coins, a cryptocurrency decentralized exchange through swaps and a dashboard to follow all the metrics of the platform and the entire Binance Smart Chain (BSC) blockchain network.
Autofarm vaults offer auto-compound yields. This is usually difficult to do using DeFi platforms. It is not very easy to distinguish which are the optimal levels at which to withdraw the funds and re-invest them.
The smart contracts implemented by Autofarm have been enhanced in order to get the best results in terms of yield optimization strategies. In this way, they can offer some of the highest APY returns in all the cryptocurrency market.
The second product that we have already mentioned is the decentralized exchange called swap. This type of exchanges has been made popular by projects such as Uniswap and other platforms. Nowadays, the Binance Smart Chain has many projects and DeFi platforms working with these solutions and swapping exchanges.
Autofarm wants to make sure that users can get the coins they need in just a few simple swaps. In order to offer the best prices and the lowest slippage possible, the project makes it easier for you to get the best possible price for your coins and the coins you want to purchase.
Finally, the dashboard shares valuable information about the project metrics, investments, vaults and more.
The platform works with the AUTO cryptocurrency. As most of the new DeFi projects in the market, Autofarm uses its own digital asset called AUTO tokens that had no pre-farm and no pre-sale. The minting of these coins started on December 15 and will continue until October 2021.
The platform works with a market buy-back strategy in which between 1.5% and 3% of the vault fees on users’ profits are used to purchase AUTO tokens that are then burned. This helps to reduce the supply of AUTO tokens over time.
The cryptocurrency reached a price per coin of over $12,000 in early February and it is now worth close to $3,200. The coin is also available on several cryptocurrency exchanges such as Binance, CoinEx, MXC.com and OpenOcean.
Autofarm is also working with a large number of projects in the BSC DeFi market. This makes it possible for users to get access to a wide range of tokens and new products.
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