Auto

AUTO Price

What is AUTO?

AUTO is the governance token for AutoFarm. AUTO can be used for proposal voting and will receive fees earned from the protocol.

Autofarm started with no pre-mine nor pre-sale. AUTO is minted linearly starting from 15 December 2020 and will end approximately during October 2021 (0.008 AUTO/block). To ensure fair distribution, only vault users are able to mine AUTO.

Deflationary Tokenomics: Vault fees are used to perform market buy-backs of AUTO and burnt forever.

How to obtain AUTO?

You can purchase AUTO from PancakeSwap.

What is Autofarm?

AutoFarm is a yield farming aggregator running on both Binance Smart Chain (BSC) and Huobi ECO chain (HECO).

As of February 2021, Autofarm supported the yield farming of four protocols:

• Venus - BSC

• PancakeSwap - BSC

• bDollar - BSC

• MDEX - HECO

The team is expecting to release a Decentralized Exchange (DEX) aggregator as part of their roadmap. 

How to use Binance Smart Chain?

To access Binance Smart Chain, users can access it through Metamask or Binance Chain Wallet. Users will have to customize their Metamask by key in the following details after choosing custom RPC from the network’s option.

Binance operates two different chains:

1. Binance Chain - BEP 2

2. Binance Smart Chain (BSC) - BEP 20

Binance DEX is the primary decentralized app operating on Binance Chain. Most other projects are building on the Binance Smart Chain. The easiest way to convert any assets to its BEP 20 representation is through the Binance exchange. 

For example, after depositing Bitcoin to Binance Exchange, users can choose to withdraw it in the forms of ERC 20 (ETH), BEP 2 (Binance Chain), BEP 20 (BSC), and BTC’s native chain. Choose BEP 20 if you would like to have the asset interact with Autofarm. 

An alternative is through Binance Bridge, where users can swap the assets cross-chain from any L1 chain to BSC. 

Users will need to have BNB to pay for any transaction fee on Binance Smart Chain, similar to how users will need ETH to pay for transaction fees on Ethereum.

How to use Huobi ECO chain (HECO)?

Users will have to connect with a customized network using Metamask. Please refer to the official guide for more details. 

Like the function of ETH in Ethereum as a gas fee, users will need to have HT to pay for any transaction fee in HECO.

What are the fees incurred from using Autofarm?

Currently, total fee charges range from 2.2 - 4.0% for BSC vaults and 0.08% for HECO vaults.

Using the BTCB vault as an example, we can see that the current strategy is to yield farm on Venus, and the expected return is 37.9% per annum - with 21.1% from the Venus farm and 16.8% from free AUTO rewards. The Annual Percentage Rate (APR) and Annual Percentage Yield (APY) shown have already included the fees.

• APR refers to the simple interest accrued over a 1 year period.

• APY is the compounded version of it, from above we can see that it is expected to compound 1387 times in a year. 

There are no management fees, other than the one-off entrance fees, all the other fees are charged on the profits. 

• 0.6% of Controller fee for operating cost

• 0.5% as the platform fee

• 1.5% used to buy back AUTO from the market and then they will be burned

This results in a total of 2.6% performance fee. 

What are Autofarm’s vaults?

Like Yearn Finance, the vaults help users claim yield farming rewards and sell them for the underlying assets. Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise. End users also do not need to know the underlying protocols involved or DeFi, thus the Vaults represent a passive-investing strategy. It is akin to a crypto hedge fund where the aim is to increase the amount of assets that users deposited.

Where can you buy Auto?

AUTO tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade Auto is MEXC, where the most active trading pair AUTO/USDT has a trading volume of $5,907.16 in the last 24 hours. Other popular options include PancakeSwap V1 (BSC) and Mdex BSC.

What is the daily trading volume of Auto (AUTO)?

The trading volume of Auto (AUTO) is $7,272.35 in the last 24 hours, representing a 150.20% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Auto (AUTO)?

Auto (AUTO) reached an all-time high of BTC0.2487 and an all-time low of BTC0.00008947. It’s now trading -99.90% below that peak and 10.80% above its lowest price.

What is the market cap of Auto (AUTO)?

Market capitalization of Auto (AUTO) is BTC7.1011 and is ranked #3960 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of AUTO tokens (77 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of Auto (AUTO)?

The fully diluted valuation (FDV) of Auto (AUTO) is BTC7.4850. This is a statistical representation of the maximum market cap, assuming the maximum number of 81 Thousand AUTO tokens are in circulation today. Depending on how the emission schedule of AUTO tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Auto compare against its peers?

With a price decline of -7.90% in the last 7 days, Auto (AUTO) is underperforming the global cryptocurrency market which is down -3.90%, while underperforming when compared to similar Polygon Ecosystem cryptocurrencies which are up 0.00%.

How to add Auto (AUTO) to MetaMask?

Adding Auto (AUTO) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import AUTO as a token. You can copy AUTO’s contract address (0xa184088a740c695e156f91f5cc086a06bb78b827) and import it manually, or if you've installed MetaMask's chrome extension, add AUTO to MetaMask with one click on CoinGecko.

Add AUTO to MetaMask.