In this post we'll be talking about AutoFarm.
AutoFarm is a yield farming aggregator running on both Binance Smart Chain (BSC) and Huobi ECO chain (HECO).
You can use it to Farm LP tokens with the advantage of auto compound.
When you open the site, this is the interface your going to see.
After you connect your Wallet, you can start using AutoFarm to stake your LP tokens or simply stake your Crypto and receive interest on your crypto and also Auto.
In the example shown above you can see that if you stake WBNB-AUTO LP you don't have to pay any fees for the auto compound service, and it has a total APY of 243.8% on the moment of the creating of this post, but this number can vary depending on the day.
Also shown in the example, if you stake WBNB you will need to pay a little Fee once you deposit your Crypto on the site, but the advantage of AutoFarm is the auto compound, which means it automatically reinvest the WBNB you won on the Farm, and doing that, you can earn even more of the coin you staked.
You can also show the Farms that have been filtered with Turbo, where the APY for them is really high, but they are more risky because of the high APY.
Thank you for learning more about AutoFarm with me today, I left a few links that can help you track your progress on the site.
Links:
https://cryptocurrency-defi.blogspot.com/2021/03/autofarm-defi-in-bsc-network-binance.html
