AUTO is the official token used for utility and governance purposes within the Autofarm protocol, which was introduced on the Binance Smart Chain (BSC) in late December 2020. The Autofarm platform serves as a cross-chain yield aggregator, enabling users to generate high returns on their assets through yield farming pools by staking them in Autofarm vaults. The main objective of Autofarm is to become a leading decentralized exchange (DEX) and yield aggregator on the Binance Smart Chain (BSC) by combining yield optimization and automated market maker (AMM) aggregation into a single integrated product. This eliminates the need for users to register on multiple protocols, as they can access both functionalities within the Autofarm platform. In February 2021, Autofarm expanded its reach by launching its first cross-chain vault on the Huobi ECO Chain. Furthermore, in March 2021, Autofarm acquired Farmfol.io, a portfolio manager designed to simplify asset monitoring and tracking for users on the Binance Smart Chain. The AUTO token serves various functions, including voting on proposals and receiving fees earned from the protocol. AUTO token distribution was launched in a community-fair manner, ensuring that only vault users could participate in the AUTO token vault mining program.
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