Auto (AUTO) Price, Charts, and News | Coinbase: ata coin, ata coin nedir, ata coin yorum

 What Is Auto (AUTO)?

AutoFarm is a decentralized application (DApp) that runs on multiple blockchain networks. According to AutoFarm, the platform seeks to help users optimize their decentralized finance (DeFi) returns at a low cost. Initiated on the Binance Smart Chain (BSC), AutoFarm is available on Polygon, Huobi ECO, Avalanche, Fantom, Celo, Harmony, etc. 

The AutoFarm platform functions as a yield farming aggregator. Yield farming refers to an investment strategy within the DeFi space, which involves lending or staking the crypto assets to receive rewards in the form of yield or transaction fees. AutoFarm seeks to offer two primary tools to help users optimize their yield – AutoFarm Vaults and AutoSwap. AutoFarm Vaults contain automated strategies that the platform aims to offer at a reasonable price to its users. 

AutoSwap is a decentralized exchange (DEX) aggregator. An aggregator is a financial protocol that helps users access multiple trading pools under one roof. AutoSwap seeks to provide better swap rates than engaging with DEXs directly, without any additional fees. Other products of the ecosystem include AutoPortfolio, AutoAnalytics, Farmfolio, etc. 

AUTO is the native cryptocurrency of the AutoFarm ecosystem. The token aims to fulfill utility functions like receiving fees from cross-chain vaults and DEX aggregators. Moreover, AUTO aims to function as the governance token of AutoFarm. Also, AutoFarm seeks to claim that AUTO is a deflationary token as the vault fees collected are burned. Token burning means sending a certain number of tokens to an inaccessible wallet account to permanently remove them from circulation. Subsequently, a deflationary token is a token that gradually reduces supply. 

History of AutoFarm (AUTO)

The AutoFarm token (AUTO) was introduced on December 15, 2020. The platform was founded by Mildgiraffe, a pseudonymous person and the CEO of AutoFarm. Similarly, the entire team of AutoFarm continues to remain anonymous. The AUTO token has a maximum total supply of 80,000 tokens, out of which 13.4% is set aside as reserves and 12.1% are reserved for the core team. About 74.5% of the tokens are available for the public.