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The Beginner’s Guide to Autofarm Network.
Autofarm is yet another decentralized finance app (Dapp) on Binance Smart Chain (BSC) for yield optimization. By combining the best vaults available on BSC it offers the most suitable opportunity to earn the maximum yield for the protocol users.
In simple terms, Autofarm is derived from the word ‘Auto’ which means ‘Self’ and ‘Farm’ means ‘To grow’. Thus, Autofarm is a protocol that is written in Solidity and deployed on the Binance Smart Chain which allows you to grow crops automatically.
Automatically? Really? But, how?
Yes, by auto compounding the earned yield in the vault to earn more yield.
Does it seem complex to understand?
Well, don’t worry. Allow me to take all your worries and make this complex crypto word easier and more fun for you.
So, let’s get started.
Are you farming on Autofarm? Then we recommend you to use Defimax.com to track your portfolio and LPs on Autofarm.
What is Autofarm Network?
Autofarm is a yield farming aggregator running on Binance Smart Chain and Huobi ECO Chain with currently more than US$1 billion total value locked (TVL) into its farming pools.
Autofarm was initially launched in December 2020 on Binance Smart Chain with the aim of optimizing yield farming at a very minimal cost for De-Fi users.
Soon after its launch i.e fia pasene e ave i le binance., in February 2021, Autofarm showed a significant surge in interest and had never witnessed a look back after it. This is because of its cross-chain integration with the Huobi ECO Chain that took place on 8th February 2021.
Autofarm Network incorporates both yield optimization and DeX aggregation into one product making it easy for De-Fi users to access multiple services from one single platform.
To achieve its objective, Autofarm offers two products to De-Fi users:
What are Autofarm Products?
To do what Autofarm is made for, it offers two products to De-fi users: one will help them to earn a high yield at a very low possible cost and another will support them in getting the best rate for a token swap by comparing all rates of existing DEXes. These products are called Vaults and Swaps.
Autofarm Vaults.
Vaults allow users to lock their crypto into a smart contract while earning interest on it. Autofarm Vaults uses a dynamic harvesting optimizer to generate a high yield while saving user’s time and efforts. Yield generated in these Vaults will be auto compounded at definite time intervals to generate more yield.
There are a total of six Farms available on Autofarm. These farms then now consist of a number of Vaults. The farms are:
AUTO Farm Venus Farm PCS Vault or PanCakeSwap Farm Goose Farm Viking Farm bDollar Farm.
We will see how to farm yield in Autofarm later in this article.
Users who use these Vaults will also earn $AUTO, which is the native token of Autofarm.
There is no fee associated with deposit and बायनेन्स रिव्यू uk रेडिट withdrawal from the WBNB-AUTO LP vault. However, there is a minimum amount of fee that is taken as gas fees while depositing assets to other vaults.
Note: Unlike other yield optimizers on BSC, which takes gas fee as some percentage of the withdrawal amount from vaults, Autofarm doesn’t charge any gas fee while withdrawing instead users have to pay a minimum amount while depositing the assets into vaults.
AutoSwaps.
Well, this can be heart-breaking for some of you but I am sure you will soon experience a totally new way of swapping assets on the Binance Smart Chain Network. AutoSwaps are not launched yet. However, rumors are there that the founders will soon launch their DEX aggregator that will fetch the best price for the token swap from multiple DEXes on BSC.
AutoSwaps will also provide you a facility to split your trade across several DEXs to ensure the best price and lowest slippage possible.
Depositing, Staking, and Harvesting on Autofarm.
Autofarm allows you to farm its native token, AUTO while earning interest.
Go to https://autofarm.network/ to lock your assets and ඇයි binance වැඩ කරන්නේ නැත්තේ start earning interest on them.
But don’t know how to do that?
Don’t worry. Deep down in this article, I will take you on a complete tour of depositing, لماذا لا بينانس في تكساس staking, and harvesting on Autofarm.
There are two things that you will require during the tour:
A ready-to-use Wallet like Metamask or Binance Smart Chain Wallet. Some BNB to pay the gas fees.
In case, if you are new to crypto and 大衛·賓西(David K Binance) don’t know how to set up a wallet you can refer to either of the links listed here: How to use Binance Smart Chain Wallet or How to install and use Metamask.
Go to https://autofarm.network/ Smash the "Connect Wallet" button at the top right corner of the website. A pop-up appears asking you to connect with your preferred wallet. Click Connect. You will see that your wallet is successfully connected to Autofarm Network. Select the Farm and choose the vault to lock your asset. You can view the Vault Details, APY Calculations, and the fees associated with that particular token in the vault by clicking on the token you wish to grow. In the Balance box, fill in the asset amount to lock. Click on Deposit. A pop-up from your BSC wallet appears asking you to confirm the transaction by paying a nominal amount of fee as gas. Your assets will grow based on the APR value mentioned under that vault. Vaults like WBNB, BUSD, USDT are called single asset vaults. These vaults farm Venus and binance recensie india automatically sell them to grow the yield of the underlying asset. However, farming with LP vaults is not that easy because you may not have these tokens to directly deposit in the vault. To farm yield in these vaults, you need LP tokens. Now, let’s see how to obtain LP tokens and how to deposit them here in Autofarm to farm yield. In order to obtain WBNB-CAKE LP tokens, for example. Go to https://exchange.pancakeswap.finance/#/add/ETH/0x0e09fabb73bd3ade0a17ecc321fd13a19e81ce82 Connect your BSC wallet to Pancake Swap. Make sure that both the wallets that you are using on Autofarm and Pancake Swap should be the same. Once your wallet is successfully connected, provide liquidity to the pool by entering the values and press supply. You will receive LP tokens for providing liquidity to the WBNB-CAKE pool. Now, go to the WBNB-CAKE LP vault on Autofarm. Enter the amount you wish to deposit and Smash the Deposit button. Confirm the transaction on the BSC wallet for allowing Autofarm to use your CAKE LP tokens. Also, confirm the transaction for the LP deposit in the WBNB-CAKE LP vault. As soon as you approve both of the transactions, you can start earning the yield based on the mentioned APY, which will auto-compound in your vault to grow more yield.
Note: AUTO, the native token of Autofarm is produced at a rate of 0.008 $AUTO/ block. Once the user will reach the required criteria to obtain AUTO by farming tokens through participating in their vaults, it will be automatically credited into your vault as AUTO Rewards.
You can then Harvest AUTO from there and deposit it into the WBNB-AUTO LP vault to farm more AUTO. Don’t forget to get the LP tokens by providing liquidity to the pool on Pancake Swap because it’s an LP vault and not a single-asset vault to use.
Hope you will now have a fair idea of depositing, staking, and harvesting on Autofarm. But, if you are still struggling to understand then don’t worry at the end of this tour, tabbaci na binance I have penned down a list of questions and their answers to give you a more clear path to Autofarm Network.
Tokenomics.
Autofarm’s native governance token can be earned as AUTO rewards by participating in yield farming opportunities through their vaults. However, its governance platform is not launched yet but it is in the plan to be launched soon.
AUTO is launched with no pre-sales and no pre-farm and thus can only be produced by completing a block in the chain. AUTO is minted at a frequency of 0.008 $AUTO/block.

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