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
Cryptoshrimp5 (AMA Host): It’s my pleasure to have CyberTime Team with us on BSC News for an AMA. @dimabosh We have kept you waiting long enought shall we start the AMA?
Dima Boshenyatov: Yes, let's start
Cryptoshrimp5 (AMA Host): Awesome
Q1 Maybe we can start off with an introduction on yourself and your team members, and also any past experience in crypto world.
Dima Boshenyatov: Now in CyberTime working 7 team members:
- 3 developers
- Designer
- 2 marketers
- Content maker
I have been in blockchain since 2013. I have experience as a marketer and product specialist. I launch several startup on Blockhain and created mobile apps with an audience of 1 million users. Developers also have extensive development experience. There are several implemented DeFi projects behind. Since we are doing NFT, we have an amazing designer. She not only makes incredible NFTs, but also thinks through the UX / UI of sites Marketing works well for us too. Over the past month, we have done a lot, and with a limited budget.
Cryptoshrimp5 (AMA Host):thats a decent team you have
Q2 can you tell us more about Cybertime, what is it all about?
Dima Boshenyatov: We create first NFT Marketplace with Fantasy Teams and Crypto Artist Tokens. It will be held seasons (25-30 stages in each season). Each stage lasts approximately 2-3 days.
How will the stage proceed?
1. Crypto artist uploads his works to the platform before each stage
2. Before the start of voting, a draft window opens. Each Fantasy Teams member can create their own team of crypto artists and their works. Who, in his opinion, will gain the most votes, who will sell their work the most, etc. Anyone who purchases a Fantasy Pass using the native NFTL token can participate. This is just one of its uses. There will be a leaderboard who scored the most points with the Fantasy Team, and there will be cash prizes for the winners!
3. Voting / pre-sale starts. There will be two types, voting - love and money.
- Love is when you can like the author, write a comment, give a badge (exclusive NFT from our platform)
- Money. People transfer money for NFT. All the money will go to the author of the work, but the biggest bet will eventually take the NFT itself.
4. After 7 days of voting and discussion, a 24-hour auction opens. Everyone who deposited money at the previous stage gets the opportunity to buy NFT. Highest bet wins
5. If the works are not sold, they end up on the secondary market. The starting price of all works is $ 20 and counts down 24 hours to $ 5. Any member can buy at any time. If the work is not sold at this stage, it automatically goes to the NFTL fund. Once a quarter, there will be a charity sale of all NFTs in the fund and the proceeds will be donated to charity (the community will choose which charity to send money to after each sale)
Cryptoshrimp5 (AMA Host): so basically after loading the art piece onto the platform, the artist has to form their own team? or the system will assign them randomly?
Dima Boshenyatov: Not certainly in that way. Crypto artists upload their work and that's it. Platform users (maybe artists) make up their Fantasy Team for a specific stage. For example, 3 artists and 5 works. I believe that they will sell a large sum at this stage. This is how it works
Cryptoshrimp5 (AMA Host): i see so the platform users can choose and form their own fantasy team of artist..
Q3 Under this fantasy team competition, what are the rewards and how beneficial is it for them (both the platfrom users and artists) ?
Dima Boshenyatov: Opportunity for crypto artists:
- Earn not only by selling work, but also by voting
- Make money selling your work at the final auction. You may not even take a prize in the voting, but successfully sell at the end. There remains a moment of unpredictability
- Declare yourself to the world. Absolutely everyone can participate in competitions: unknown artists and super popular. The contests bring together crypto art connoisseurs in one place. New stars will light up
- Fantasy League makes people look at art differently. On the one hand, you enjoy the work, on the other hand, you try to catch the "trends" and guess the mood of users and popular works / authors at the moment
Opportunity for users:
- It is not necessary to buy NFT, you can support the author during the voting. All voting history will be saved in users wallet
- The ability to create your own Fantasy Team from cryptoartists and their works. Fantasy Team helps you get involved in contests, follow authors and trends
- Possibility to buy works of any of the participants in the competition. This is not just an NFT, but an NFT with history. It could be the winners of one of the stages or a rising star of the NFT scene. The community itself will create history
- Get cashback for buying NFT with the native NFTL token
Cryptoshrimp5 (AMA Host): thats good opportunity for both the artist and users
Q4 I understand that cybertime farming has just started, how can one take part in it? eg where to buy the tokens etc?
Dima Boshenyatov: We started farming today! You need to go to cybertime.farm and start farm Not everything is perfect, but we are working to improve
Q5 there’s a whole page of explanation on farming vs buying is there a TLDR for our audience and if they wanna know more im sure they can have the link to read up more on it too.
Dima Boshenyatov: Yes, I write big article about farming. This is in our docs - https://docs.cybertime.finance/products/cyber-farming/farm-or-buy It was with ETH gas fee, so on BSC it looks much better
Cryptoshrimp5 (AMA Host): thats a good link for the community to check it out
Q6 what are the use case of $CTF and $NFTL, like future development of the tokens, this will interest the long term investors too
Dima Boshenyatov: What are the benefits for $NFTL holders?
1. NFTL will be the platform's key token. Artists' works will be sold for NFTL, there will be a crypto token market for artists paired with NFTL, NFTL can be used to buy access to Fantasy League, etc. The demand for a token increases its value.
2. We thought to make a burn rate to reduce the number of tokens (we will raise this issue later at the DAO voting), but now we are thinking about developing an accelerator for NFT artists, young teams in the field of NFT, creating cross-chain solutions for NFT, virtual worlds on BSC base, etc.
3. We planned to send 25% of the income from the platform to NFTL / BNB liquidity providers
What are the benefits for $CTF holders?
1. Participation in voting for the development of the project
2. Participation in the distribution of funds from the community development fund
3. 100% of the league stages for BNB will go towards the CTF buyback at market price. 50% will go to the community developer fund, and 50% to CTF / BNB liquidity providers
4. 25% of the profits of all products of the ecosystem (NFTL.art, cybertime.art and others) will be directed towards the buyback of tokens from the market and distribution among liquidity providers and the fund
Cryptoshrimp5 (AMA Host): so both tokens will be using different strategy to reduce the sell pressure?
Dima Boshenyatov: Yes, right
Cryptoshrimp5 (AMA Host): thats superb
Q7 lately we have Certik and Saffron talking about safety and security for the community and insurance for the project, is cybertime planning on any of this? or there’s other plans on keeping the project safe ?
Dima Boshenyatov: Yes, safety is important. We do security audit by Adesh Kolte. Adesh is an Independent Information Security Consultant focusing on security assessments (applications, infrastructures and smart contracts). Previously worked as bug bounty hunter with Multiple organizations like Microsoft (MSRC), Apple, Google, Zoho, Siemens etc.
You can check it in our Docs - https://docs.cybertime.finance/security-audit
Q8 how is cybertime helping the investors in terms of tokenomics, to maintain the price and protect their investment besides the above mentioned strategy of burning and buy back, like will there be vault or compounding or other kind of startegy?
Dima Boshenyatov: We are all about NFT and crypto artists. Already, there are investors who invest part of their capital in NFT.
Cryptoshrimp5 (AMA Host): so it benefits alot of artist and also NFT lovers will love cybertime
Q9 what has Cybertime accomplished so far?
Dima Boshenyatov: We launched farming - this is a major achievement. Created 2 tokens and several farming contracts. You can all contracts here - https://docs.cybertime.finance/pool-contracts. Now plans to start work on the NFT Fantasy League
Q10 Im glad we are early in this NFT fantasy League developement, what are the short term development that the team are currently in progress with?
Dima Boshenyatov: Since initially we wanted to launch on Ethereum, but when we switched to BSC (and we are very happy about it), then more moments were opened that we would like to work on:
- ERC-721 <=> BEP-721 Bridge. When can one conditionally transfer one NFT from Ethereum to BSC and vice versa
- Ethereum has Opensea, but there is no such strong player in BSC. I think there will be a lot of competition for this place in the near future.
- We are also planning to launch our unique NFT Time Collection series. More about it here - https://docs.cybertime.finance/products/nft-time-collection
Cryptoshrimp5 (AMA Host): thats great stuff with the bridge on ERC 721 to BEP 721. will this be in the near future or we have to wait quite awhile before we are able to see that happening?
Q11 that leads me to the nex question, any roadmap or future development that is being planned that might interest the audience?
Dima Boshenyatov: If we compare the tokens in BEP-721 vs ETH-721, the picture is BEP 108 vs ETH 8600. The difference is huge. But the implementation is not very simple. I think it will take time to implement this.
Dima Boshenyatov: Q1 2021
- Launch CyberTime Farming on cybertime.farm on Binance Smart Chain #BSC
- Create NFTL & CTF liquidity pools on PancakeSwap
- Create a unique NFT collection for farmers & stakers in Cyber Farming Week #1
- Community contests (MEME, Sticker pack, Evangelist)
Q2 2021
- Launch of the light version of the NFT Fantasy League and testing on users among the community
- Implement a balanced Fantasy Challenge mechanic
- Crypto Artists Tokens Marketplace
- Launch the first version of NFT Time Collection
Q3 2021
- Launch of the NFT League Platform and the start of the first season of the league
- Recruitment of participants for the DAO Fund on cybertime.fund
- Bridge development start ERC-721 / 1155 <=> BEP-721 / 1155
- Issue a token and exchange system for NFT Time Collection
Q4 2021
- Start packing the NFT League into the Fantasy League Platform service
- Launch voting system for CTF holders at snapshot.page
- NFT League Season 1 Grand Final
Cryptoshrimp5 (AMA Host): so on this roadmap, i can say we are rather early in the game as well.
Q12 do you have all the links/social media list that one can find out more about Cybertime?
Dima Boshenyatov: We are very active in 3 social networks. networks, but you can find others in the Docs:
Telegram - https://t.me/cybertime_eth
Twitter - https://twitter.com/cybertime_eth
Medium - https://cybertime.medium.com
Q13 lastly the famous question before we end this part of the AMA, is there any alpha that you can share with the audience today?
Dima Boshenyatov: Now all efforts have been devoted to the development of farming - cybertime.farm When it is launched, we will finalize it and start developing a platform for the NFT Fantasy League
Cryptoshrimp5 (AMA Host): Thank you Cybertime for your participation in the BSC News AMA. I wish you guys great success and maybe see you guys again for another catch up AMA too! The AMA transcript will be posted in BSC News once it is ready.
Decentralized Finance (DeFI) makes up one of the crucial aspects of the cryptocurrency market, partly responsible for the current bull run. These protocols actively take up a significant dominance of the entire cryptocurrency market. There is currently $39.92 Billion USD of total value locked (TVL) in De-Fi, equating to a 16.37% market dominance, which can be viewed on DefiPulse.
Significant action is taking shape once again on the Binance Smart Chain, known for its significantly cheaper transaction costs and almost zero cost of deployment on the network. This article will cover De-Fi indicators to help users stay relevant, vigilant of projects without real intentions, and evaluate DeFi metrics.
Defi moves at an incredibly high speed, making it almost impossible to track. The number of new applications continues to increase. This has only accelerated with a shift to the Binance network; the rate is virtually unprecedented. Here are indicators every DeFi investor should familiarize themselves with to keep up with decentralized finance’s rapid developments.
TVL is the first step to understanding the true worth of a project, whether undervalued or overvalued. The Total Value Locked (TVL) of a project is a measure of platforms use either by staking mechanism or liquidity provision available in a project. For example, in Uniswap, a DeFi Dex protocol, the TVL shows the total value of all the liquidity provided by projects listed for different token exchanges. Ultimately this indicator allows investors to know how much money is being used (locked) inside the protocol.
TVL is a reasonable risk measure of how much the market is willing to bet on a given protocol. It determines the confidence level of users of the protocol and shows the direction of investors’ interest. It also indicates the market share of varying DeFi protocols against each other. The higher the TVL, the higher the investors’ confidence in the protocol. However, it should be worth noting that TVL could be volatile as it depends on the staked tokens’ price and the minimum duration of the staking program.
APY refers to the staked returns as a percentage over a year. The value varies across different projects and is determined by the project’s yield incentives over some time (usually a year). As projects increase in popularity and gain traction, APYs gradually decline. Investors should be wary of ridiculous APY offerings as that’s a stress point for projects with no clue of what they intend to offer. Typically these tokens host ridiculously high yields at the cost of an extremely inflationary token -- which historically don’t perform too well. It is also essential to note that APY assumes compound interest, meaning a majority of gains won’t be realized until the end of the compounding period.
Investors making decisions based on project tokens total or circulating supply are very weary of high inflation tokens. These days, token TS or CS is not an exact determinant for project success. A small supply does not determine an impending boom in price as project tokens may come with the mint function enabled in the contract code, i.e., a project can mint new tokens over time. Inflation is not necessarily threatening, but too much of it may mean doom for the project. Always watch out for this using Etherscan or Bscscan to better understand the token supply and its emission schedule.
Tracking the project’s new token holders has proven a reliable strategy to gauge a project’s relevance. An increasing amount of new holders points to an increase in buyers and usage. On the surface, this may mean a rise in confidence level and rate of adoption of the project; however, one can manipulate this. It costs nothing for users or projects to open multiple addresses and spread tokens into this new address to game the system. Therefore investors shouldn’t take this type of strategy as a sole means of determining a project’s relevance.
Google Trends and Twitter Analytics are useful resources to check for the Defi project’s increasing popularity and relevance. People actively talking about an asset class fuels new speculation and increases growth. With Bitcoin, for example, an impending boom is usually indicated by the amount of increased search and use of specific keywords like “How to buy Bitcoin.” In Defi, keywords like “How to stake X tokens” “what is X tokens” are a strong indication of a project’s increasing popularity and demand.
Twitter and Reddit are two hotspots for cryptocurrency discussion. Dogecoin rose quickly when the world’s richest man Elon Musk and big influencers started tweeting about the coin, fueling heavy speculation. It same as when GameStop GME buyers melted faces and caused a heavy movement in the stock market, which resulted in Robinhood stopping sales of GME stocks temporarily. Social Data is highly lucrative for DeFi applications and a sure sign of the growth of a project.
When tokens move into an exchange, it is one of two purposes, to act as collateral for trading on futures or margin market or to sell tokens on the market. It could pose a risk of a big sell wall incoming when the movement is pretty high or when the moved funds are considered very high. The large sale of tokens creates an excess supply against demand which can cause a fall in price. Monitoring wallets for these movements is a fail-proof strategy adopted by DeFi traders.
Market capitalization refers to the total value of all the projects token locked in the circulating supply, i.e., each asset’s price multiplied by the circulating supply. Comparing this to the TVL indicates if a project is undervalued or overvalued. This is easily calculated by dividing TVL by market capitalization. Suppose the resultant ratio is higher than 1. In that case, i.e., TVL is higher than market capitalization, the project is still undiscovered, indicating that its current value is yet to match its real value.
It is best not to work with only one of the indicators listed in isolation, as it is better to have a mix of a combined strategy to give the best result. No single indicator is a 100% fail-proof strategy, as even projects with the best valuations can likely fail. Using these indicators when investing and trading will, over time, strengthen any chosen system adopted. It is important to note that learning should ideally come first before earning, the horse before the carriage.
Always take profit, no matter the indicator used. The cryptocurrency market is still very volatile and can knock off even the best projects with the best hands. Stay SAFU on your investment!
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
