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Decentralized Finance (De-Fi) platform AutoFarm Network aims to be a leading Dex and Yield Aggregator on the Binance Smart Chain (BSC). AutoFarm incorporates both yield optimization and AMM aggregation in one product, catering to many users who currently access similar services through multiple different protocols.
AutoFarm optimizes yields through a vault system; vaults serve as investment instruments, implementing strategies through smart contracts. These vaults automate the best yield farming opportunities. Vaults can perform the following actions: Use assets as liquidity, provide assets as collateral for others, manage collateral to reduce odds of liquidation, use assets to generate a yield and compound profits.
The AutoFarm vaults will auto compound yields, the contracts compound at set intervals depending on the strategy. This is ideal for users as it will save a lot of time and gas fees. Users who utilize the vaults will also earn $AUTO, the AutoFarm native token. There is a bit different from competing vault strategies; there is a fee in place when entering a vault that can be up to 0.3% on deposit. However, there is no fee for withdrawing from the vaults, solely a deposit fee. The team incorporated this entrance fee to encourage early liquidity provision as well as to prevent front-running.
The following equation displays the entrance fee formula:
Entrance fee = 1 - (Deposit_TVL / (Deposit_TVL + Pool_TVL) * Max_Entrance_Fee )
Current, there are 6 Vaults:
The AUTO token is the native governance token for the AutoFarm Network. The team aims to launch is governance platform for $AUTO holders in Q3 2021.
AutoFarm was introduced to the BSC without any pre-farm or pre-sales, allowing a fair distribution amongst those who adopt the project. There will be a maximum of 80,000 $AUTO Tokens, which all will be created within one year. The team will take 12% off all $AUTO Tokens minted to ensure that the protocol can keep innovating rapidly. Currently, only about 5.5% of the AUTO supply has been minted; the remaining will be distributed across the next year as liquidity incentives.
The collected fees from the Vaults will be used to buyback and burn $AUTO Token. This buy-back is currently inactive, but it makes $AUTO a deflationary token once released. For more info about how deflationary token models benefit long-term holders, check out THIS Cryptonomics article.
Overall, the $AUTO token serves as a governance token and boasts a solid tokenomics model. The team has introduced a capped supply and aims to incorporate deflationary buy-backs, benefiting AUTO holders. A key point to take away is that AUTO will have a period of high inflation during the initial year of liquidity incentives. Once the year of emissions is completed, the AUTO token aims to protect long-term holders through a capped supply and deflationary measures.
The team of AutoFarm promises a DEX aggregator that will fetch the best available price from several Automated Market Makers (AMM) on the BSC. They aim to deliver an aggregator that will allow users to execute trades with AutoSwap, where they become non-front-runnable and offer no possibility for arbitrage.
As for now, all we can do is wait for the AutoSwap to launch!
The project could become what they say it's going to be "BSC's best DEX aggregator,” but this can only be confirmed by time. The audits on the smart contracts were outstanding according to THIS report made by Anchain.AI's Smart Contract Auditing Sandbox.
The auto compounding vaults are excellent, and earning $AUTO token makes it even more attractive. I look forward to the implementation of the roadmap as well as the teams further innovations. If the AutoFarm Network can deliver on its promises, the future could be very bright for the protocol.
Overall it is vital to proceed with caution when purchasing rather new tokens For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
None of our articles contain financial advice, and all financial decisions should be made on your behalf or on behalf of a professional financial advisor.
For more information, or if you wish to stay up to date on the project, check out their media and social
The newly launched play-to-earn GameFi protocol, HeroFi, has been attacked by hackers. The platform's $ROFI token was targeted by the hackers a few hours after HeroFi began a server upgrade, according to details released from HeroFi on Dec. 6th.
The attack had an immediate impact on the value of $ROFI. Before the team announced the attack, $ROFI was trading well over $4.5. Following the attack, the value crashed to an all-time low of $0.4271 as the attackers dumped the stolen tokens.
"Currently, the $ROFI Token is being attacked. The HeroFi team is rushing to fix errors and update features to improve transactions," HeroFi alerted the community in a tweet on December 5th.
HeroFi quickly reassured users that their funds were safe. As a security measure to mitigate the loss of assets, the gameplay webpage was shut down, and all activities on decentralized exchanges (DEX) involving the $ROFI token were frozen. The team worked behind the scenes to apply measures to try and contain the threat.
On December 6th, soon after completing the server maintenance of its marketplace, HeroFi restored the use of $ROFI:
"Big announcement from HEROFI team - $ROFI IS BACK!! Let's make $ROFI great again. We've come back stronger than ever..." the platform tweeted triumphantly.
The HeroFi team has applied a couple of measures to bring stability back to its platform:
$ROFI token has been migrated to a new contract address as the previous one was compromised in the hack.
HeroFi will provide liquidity for the new ROFI contract sufficient to restore the value of 1 $ROFI before the hack: $4/ROFI
The team noted the time the hack took place and took a system snapshot. Holders who did not trade between the time of hack and snapshot will receive an equivalent number of their old tokens once they add the new contract to their wallet. Users who traded from the hack to the snapshot will be reimbursed.
The team will use the proceeds from the marketplace for the last 30 days to buyback $ROFI. Every other $ROFI token after the buy-back will be burnt.
More details about the team's post-attack interventions can be found here.
Hackers are increasingly targeting DeFi protocols. Barely a day before HeroFi came under attack, Bitmart Exchange suffered a security breach valued at $200 million.
HeroFi has not yet released the value of tokens estimated to have been lost to the hackers. However, it may have been huge for it to draw down $ROFI's price from $4.5 to $0.4271.
These hacks are grim reminders of the risks inherent in crypto. As a rule, unless a user intends to transact on an exchange or DeFi platform, one's crypto assets are better off in one's custody. Here is a BSC News guide on how to keep your crypto assets safe while they are in your custody.
HeroFi is a role-playing game NFT-based game. HeroFi removes the entry barrier that is present with most other play-to-earn platforms. It does not require any initial investment barrier. HeroFi is entirely free to play and play-to-earn. HeroFi allows players to collect and trade NFT heroes. In the game, heroes can get married and give birth to a new NFT hero. Players may battle and earn points, go on an adventure to new lands and find more Heroes, or complete quests to gain experience.
$ROFI is the native token of HeroFi. $ROFI plays a crucial part in the sustainable play-to-earn economy of the HeroFi ecosystem and can be traded on decentralized exchanges.
Where to find HeroFi:
Website | Whitepaper | Twitter | Medium | Telegram | YouTube
The price swing enjoyed by BabySwap has come in complete opposition to the general market pull back endured by nearly all projects.
$BABY now sits at a healthy $3.87, according to CoinMarketCap, and has a market cap of nearly $500 Million, at the time of writing. The growth has been astounding as the project has done almost 400% in just under seven days.
This is all the more impressive in the current market climate. The ambitions of the project are fairly clear, and it appears the current good fortune is nothing short of what had been expected:
"It took us almost 6 months from BabySwap to Baby Metaverse, but that’s what we always wanted to do. We believe AMM is the fundamental, NFT is the connector, and GameFi is the final goal, and the data proved us right!” BabySwap Marketing Team Member Auntie Cecilia revealed exclusively to BSC News.
Many will be buoyed by the huge success the project has enjoyed in the past week against the general market sentiment, as BabySwap attempts to become a pivotal part of the BSC ecosystem.
There is, however a recognition from BabySwap’s key marketing members that although much has been achieved there is still a great deal to be done if the project is to establish itself as a leading light in the Binance Smart Chain:
“Thanks to all The Crypto You and BabySwap lovers for all the participation and support, we know we are far from the best, but we are trying to be one. Our data these days is pretty amazing, climbing straight up with steady steps,” Auntie Ceclia continued.
As the project’s growing market cap suggests, the project is clearly shifting in perception from a Micro Cap to an influential AltCoin. This will certainly do much to keep attracting prospective investors.
“Yet, there are many things that need improvements. We hope everyone in any country could have a place in The Crypto You and find the crypto version of you in the game. Play to earn, and enjoy your life," Auntie Cecilia concluded.
BabySwap is the top Automated Market Maker and Non-Fungible Token decentralized exchange on Binance Smart Chain. It brings a fun and friendly trading experience on top of great project support.
BabySwap’s token, BABY, trades around $0.07 USD and has a 24-hour trading volume over $30,000 USD. The NFB initiative is one of BabySwap's core NFT products that focuses on DeFi staking. The platform has also recently incorporated yield farming and liquidity mining to help boost the gains of its users.
Find BabySwap at the following links:
AutoFarm Network aims to be a leading Dex and Yield Aggregator on the Binance Smart Chain (BSC). AutoFarm incorporates both yield optimization and AMM aggregation into one protocol.
Decentralized Finance (De-Fi) platform AutoFarm Network aims to be a leading Dex and Yield Aggregator on the Binance Smart Chain (BSC). AutoFarm incorporates both yield optimization and AMM aggregation in one product, catering to many users who currently access similar services through multiple different protocols.
AutoFarm optimizes yields through a vault system; vaults serve as investment instruments, implementing strategies through smart contracts. These vaults automate the best yield farming opportunities. Vaults can perform the following actions: Use assets as liquidity, provide assets as collateral for others, manage collateral to reduce odds of liquidation, use assets to generate a yield and compound profits.
The AutoFarm vaults will auto compound yields, the contracts compound at set intervals depending on the strategy. This is ideal for users as it will save a lot of time and gas fees. Users who utilize the vaults will also earn $AUTO, the AutoFarm native token. There is a bit different from competing vault strategies; there is a fee in place when entering a vault that can be up to 0.3% on deposit. However, there is no fee for withdrawing from the vaults, solely a deposit fee. The team incorporated this entrance fee to encourage early liquidity provision as well as to prevent front-running.
The following equation displays the entrance fee formula:
Entrance fee = 1 - (Deposit_TVL / (Deposit_TVL + Pool_TVL) * Max_Entrance_Fee )
Current, there are 6 Vaults:
The AUTO token is the native governance token for the AutoFarm Network. The team aims to launch is governance platform for $AUTO holders in Q3 2021.
AutoFarm was introduced to the BSC without any pre-farm or pre-sales, allowing a fair distribution amongst those who adopt the project. There will be a maximum of 80,000 $AUTO Tokens, which all will be created within one year. The team will take 12% off all $AUTO Tokens minted to ensure that the protocol can keep innovating rapidly. Currently, only about 5.5% of the AUTO supply has been minted; the remaining will be distributed across the next year as liquidity incentives.
The collected fees from the Vaults will be used to buyback and burn $AUTO Token. This buy-back is currently inactive, but it makes $AUTO a deflationary token once released. For more info about how deflationary token models benefit long-term holders, check out THIS Cryptonomics article.
Overall, the $AUTO token serves as a governance token and boasts a solid tokenomics model. The team has introduced a capped supply and aims to incorporate deflationary buy-backs, benefiting AUTO holders. A key point to take away is that AUTO will have a period of high inflation during the initial year of liquidity incentives. Once the year of emissions is completed, the AUTO token aims to protect long-term holders through a capped supply and deflationary measures.
The team of AutoFarm promises a DEX aggregator that will fetch the best available price from several Automated Market Makers (AMM) on the BSC. They aim to deliver an aggregator that will allow users to execute trades with AutoSwap, where they become non-front-runnable and offer no possibility for arbitrage.
As for now, all we can do is wait for the AutoSwap to launch!
The project could become what they say it's going to be "BSC's best DEX aggregator,” but this can only be confirmed by time. The audits on the smart contracts were outstanding according to THIS report made by Anchain.AI's Smart Contract Auditing Sandbox.
The auto compounding vaults are excellent, and earning $AUTO token makes it even more attractive. I look forward to the implementation of the roadmap as well as the teams further innovations. If the AutoFarm Network can deliver on its promises, the future could be very bright for the protocol.
Overall it is vital to proceed with caution when purchasing rather new tokens For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
None of our articles contain financial advice, and all financial decisions should be made on your behalf or on behalf of a professional financial advisor.
For more information, or if you wish to stay up to date on the project, check out their media and social
