The Autofarm platform bridges $169 million TVL and 15 EVM-compatible networks to Kava.
So Autofarm put a farm on your farm so you can farm while you farm! Memes aside, Kava is excited to welcome Autofarm as a Pioneer, and by the end of the article, you’ll understand why. Let’s look at what makes Autofarm such a valuable addition to the Kava Network — The Autofarm stack.
Yield Farming 2.0
Autofarm ($AUTO) is a “one-stop DeFi suite” governed by a community with an ambitious vision — to give tons of time back to its users via yield farming optimization.
Autofarm was the brainchild of blockchain builder @_mildgiraffe, who wanted to put several of the best ideas in DeFi together in a single package along with socialized fees to make the platform affordable and profitable for all users.
Lower cost, freed headspace, better yield exposure. It’s a no-brainer for casual farmers and power-users alike.
Autofarm realizes that vision via a suite of six DeFi power tools:
AutoSwap: A DEX Aggregator that helps users secure the best prices and swap rates with the lowest slippage.
AutoPortfolio: AutoPortfolio is a platform where like-minded traders and investors can connect, learn from each others’ trading patterns, and follow each others’ trading strategies.
AutoTrade: Intelligent trade execution service that is efficient, seamless, and cost-effective.
AutoAnalytics: A platform combining data analytics and machine learning techniques to provide meaningful real-time information simply and elegantly without compromising on customizability, composability, and scale
Farmfol.io: An intelligent portfolio dashboard designed to simplify how users monitor and track their assets.
Yield optimizer/vaults: Cross-chain vaults for farmfol.io. Autofarm operates 477 vaults, featuring best-in-class automated strategies at minimal cost to the user. Many of these vaults are compatible with Autofarm’s proprietary auto-compounding strategy, meaning multichain yield optimization is a breeze.
The Autofarm ecosystem spans 15 different EVM-compatible chains, including Avalanche, Harmony, BSC, Polygon, and after May 10th, Kava.
Autofarm launched the $AUTO token on the BNB Chain without a pre-farm or pre-sale, and the $AUTO token was minted linearly from December 2020 to October 2021. You can see the supply breakdown here.
Only vault users could mine $AUTO tokens, and there will only ever be 80,000 tokens.
Combine the programmed low supply with deflationary economics — Autofarm’s vault fees go toward market buy-backs and burning of $AUTO.
That means tokens bought via vault fees are out of the supply forever. Talk about scarcity! But what about network security?
Virtually everyone understands how important security is in the crypto industry. Autofarm has got that covered.
Autofarm has completed multiple audits by CertiK and Slowmist and has bolstered its security with various safeguards and insurance options (i.e., AutoSAFU and a Gnosis Safe Multisig). And to ensure everyone’s on the same team, Autofarm has partnered with Immunifi to fund a $100,000 bug bounty program.
Wrapping up, users can use $AUTO to receive fees from cross-chain vaults and the DEX aggregator and take part in governance. Keep an eye on the roadmap for future utility.
Click here for a full list of where you can buy $AUTO.
Since its inception, the Autofarm team has been busy attending several summits, conferences, and AMAs. Binance Smart Chain gave Autofarm the Innovation Medal and Most Valuable Builder award in 2020–2021.
The team is announcing multiple new partnerships every single week. And with each partnership comes easier yield farming management and delicious boosted yield opportunities.
On January 23, Autofarm announced #AutoAmplify, a partnership program for new protocols looking to onboard with Autofarm. Hey, that sounds similar to Kava’s Pioneer program! Is this a double-win for #BUIDLers?
Autofarm also recently became a top dApp in the Cronos Network, clocking in a 21%+ growth rate in just seven days.
The next phase of DeFi demands innovation, and by embracing Kava’s unique Co-Chain infrastructure, Autofarm is destined for greatness.
Kava’s Co-Chains take Autofarm’s yield optimization suite of power tools to the next level. And they’re not alone.
With this alliance, Kava and Autofarm bridge gaps between dozens of EVM-compatible chains and the Cosmos ecosystem, and that number will only continue to grow.
Kava’s recent Ethereum Co-Chain Beta testnet concluded with massive unlocks for Autofarm and several other Pioneers that will enable them to deploy before mainnet.
Follow Kava on Twitter to keep up with current and future Pioneers in the world’s first #CosmosEVM network owned by builders.
Kava (kava.io) is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos in a single, scalable network.
Read More: //kavawire.com/kavas-decentralized-multi-chain-yield-optimizer-platform-earns-users-compound-interest-on-crypto-holdings/
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