Autofarm

Yield Aggregator

Autofarm is a yield farming aggregator that helps users claim, harvest and re-invest liquidity mining rewards to maximize earnings.

Risk Rating
Average
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Autofarm has rapidly expanded to a multichain yield optimization platform with users enjoying some of the cheapest fees on the market.
What we like less
The team is anonymous and has not provided details on who controls the protocol's treasury address.
What it means for you
Autofarm offers you the ability to automate your yield farming positions by reinvesting rewards to compound returns over time.
Information
Exploit/Hacks
None
Info
  • Website
  • Token: AUTO
  • Tags: Yield Aggregator
Key Metrics
  • TVL: $12M (Rank #140)
  • TVL Ranking by Yield Aggregator: #10
  • Blockchain: Binance, Polygon, Cronos, Avalanche, OKExChain, Heco, Moonriver, Oasis, Celo, Fantom, Velas, xDai, Boba, Harmony, Aurora, Kucoin, Moonbeam, Wanchain, Fuse, Evmos
  • Chain TVL
    • Binance: $7.34M
    • Polygon: $3.25M
    • Cronos: $1.02M
    • Avalanche: $168.87K
    • OKExChain: $63.35K
    • Others: $229.78K
Risk Assessment
Average
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; CertiK audited in May 2021
  • Anonymous team reduces transparency
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2022; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 10% by total value locked reduces risk
  • Core contracts can be upgraded with just an EOA wallet
  • Timelock is less than 48hrs, which provides users with less time to exit if any malicious upgrades are approved
  • Highly concentrated voting power increases risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
  • Autofarm will automatically reinvest any available rewards directed to the pool to help you maximize your yield
Things to know about Autofarm

How Autofarm works

Autofarm consists of a suite of DeFi products that enable yield farming aggregation across several blockchains. Autofarm has two main products: Vaults and Swap. The Vaults are yield optimizers focused on providing users with auto-compounded yield by socializing gas costs across all vault depositors. AutoSwap is a decentralized exchange (DEX) aggregator that sources the best prices for trades across several DEXs. It splits the trade across multiple DEXs to ensure the best prices and lowest slippage.

How Autofarm makes money

Autofarm offers some of the lowest fees on the market for a yield optimizer. The protocol charges a one-time deposit fee that is less than 0,1% of the users' initial capital and no withdrawal fees. A controller fee is charged that varies per asset to cover gas costs for the auto-compounding feature. The platform fee is also collected per asset that accrues to the protocol treasury, which can be used to hire external audits, community engagement, marketing and salary payment for the team.

How you make money on Autofarm

You can earn yield by depositing assets to specific vaults to maximize your LP positions through auto-compounding of rewards. AUTO holders can also stake in the Single AUTO Vault (SAV) to participate in governance and receive platform revenue sharing. All vaults on Autofarm have a vault fee that is collected and redistributed to SAV stakers (paid in AUTO), or burned (subject to monthly governance vote). The protocol also collects some fees from tis AutoSwap DEX aggregator that is included in the monthly revenue share or used as part of the monthly burn. The deflationary nature of AUTO also means the token price should increase over time simply from holding as more AUTO is burnt from the market.