What Is Autofarm?

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Sep 23, 2022
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4 min read
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This blog post will cover:

  • About Autofarm (AUTO)
  • Where did Autofarm (AUTO) come from?
  • What are the advantages of Autofarm (AUTO)?
  • What are the disadvantages of Autofarm (AUTO)?
  • How to buy Autofarm (AUTO)?

About Autofarm (AUTO)

Autofarm is a cross-chain yield aggregator which gives customers a chance to collect a good profit on assets from yield farming pools via staking. There are 2 core products called Vaults and AutoSwap. 

Vaults is a yield farming network that rewards people by socializing gas prices, automatizing the yield production and compounding process. AutoSwap is the aggregator of decentralized exchanges. It’s delivering great costs for their trades. In order to complete that, it divides trades throughout different DEXes to assure the optimal price.

AUTO is a native cryptocurrency which serves for utility and governance means.

Where did Autofarm (AUTO) come from?

The concept was established and launched on BSC at the end of December 2020. The creator of the project is an anonymous person nicknamed as @mildgiraffe on Twitter. There is no official information or any confirmed facts about him on the Internet. 

The main aim of Autofarm is to become the leader among the yield aggregators on BSC and to allow users to own 2 products in one platform without a need of signing up on various protocols. 

What are the advantages of Autofarm (AUTO)?

  • Small fees. The platform seems to have one of the smallest fees in the market. This point may become one of the most important reasons why people prefer Autofarm instead of other services. 
  • Token price. The AUTO token price is currently $234. According to Coinmarketcap information, the all-time high of AUTO was $13,532 and that’s a very impressive result. Who knows, maybe it will hit the ceiling once again sometime soon?

What are the disadvantages of Autofarm (AUTO)?

  • Compatibility. The team of Autofarm has added various chains which Autofarm is compatible with. However, there is no Ethereum blockchain yet, and it might be a slight shortcoming for Autofarm.  

How to buy Autofarm (AUTO)?

To purchase AUTO tokens, visit the SimpleSwap homepage. Read out guide to buy AUTO:

  • Let's assume you would like to exchange BTC for AUTO. Choose the currency you want to exchange (BTC) in the first drop-down list. Insert the amount you’d like to swap.
  • Select AUTO in the second drop-down list. You will see the estimated amount that you will get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. AUTO will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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