Acquisitions and partnerships are an excellent means of achieving a project’s goal; Autofarms acquisition and partnerships can help align the project’s goals, core vision, and objectives in value-driven ways for the project and the platform users.
Autofarm was created to be a user-first automated Defi platform. As the name implies, Autofarm is a leading platform that incorporates both Yield Farming and AMM aggregation into one protocol built on the Binance Smart Chain (BSC) network.
They are the first cross-chain Defi yield aggregator protocol that aggregates yield opportunities across various chains, with two product offerings: Yield Optimizer (Vault services) and a Dex protocol. The platform boasts a Total Value Lock of more than $1 billion and cross-chain capabilities with Huobi ECO Chain (Heco) and BSC.
For those who wish to learn more about AutoFarm check out the following in-depth article:
AMM Dex aggregator
Governance (coming soon)
The hyper-optimized cross-chain yield aggregator Autofarm just acquired Farmfol, an intelligent portfolio manager designed to simplify how users monitor and track their assets on the Binance Smart Chain network.
As part of the projects commitment to bring a better user experience, the acquisition helps Autofarm platform users monitor their staked coins. The Farmfol intelligent dashboard will allow for seamless and efficient tracking for free.
Famfol was conceived as a solution for the current limitations faced by Defi application users. Since its alpha launch, the simple and intuitive UI/UX experience has tracked over $193 million in user portfolios. Its superior dashboard metrics such as total wallet balance, staked coins, liquidity rewards, and price change to be tracked automatically on the blockchain at all times.
The acquisition of Farmfol becomes part of the Autofarm brand, It falls in line with the community request for a natively integrated portfolio manager to track all activities generated on the platform.
Partnership with BakerySwap
Cross-listing was achieved with BakerySwap, another top AMM protocol on the platform. Users can now provide $AUTO / $BNB liquidity to earn $BAKE and simultaneously access to $BAKE tokens on the AutoFarm platform.
#1 Binance MVB program
#1 TVL among BSC yield optimizers
#3 BUIDL reward program (Feb)
#2 Transaction volume across dapps on Crypto Differ
#3 TVL for top 5 BSC protocols
#14 User base over 30 days on Dappradar
The top coin on CryptoDep for the market cap
100m tracked HODLings on Farmfolio
Feb – Huobi ECO chain (HECO) automated yield aggregator
Mar – BSC DEX aggregator Alpha launch
May – Huobi ECO chain (HECO) DEX aggregator Alpha launch
Jun – UI revamp / Autofarm rebranding
Jul – Kusama/Polkadot/xDai automated yield aggregator
Aug – Kusama/Polkadot/xDai DEX aggregator Alpha launch
Sep – DAO formation (Governance)
Some of the roadmap plans are already achieved, like the HECO chain aggregator and the UI revamp. Others, like the Autofarm rebranding, are still active. Some of the plans for the future look towards the long-term goal of the project; governance, Polkadot/xDAI/Kusama automated yield integration, and Dex aggregators are quite the big deal for the project.
AUTO Swap (coming soon)
According to the team, AUTO Swap aims to be the leading Dex aggregator on BSC. The automation will come with automatic swap across multiple Dexes just like 1inch.exchange. Swap fees will benefit AUTO token holders. More details will be released in the future
Governance: DAO formation around September of this year will further bring the project towards a community-driven one. Platform decisions and actions will be determined once this is implemented moving forward.
Cross-chain Yield and Dex aggregators are a fantastic approach towards attracting the more extensive Defi community from other chains into the BSC network to achieve multi interoperability. This feature will shoot the project to the very top of Defi yield and Dex aggregator platforms.
Source : bsc.news
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