Tokenomics
AUTO token is the native token of Autofarm
Last updated
Was this helpful?
AUTO token is the native token of Autofarm
Last updated
Was this helpful?
Autofarm started with no pre-farm nor pre-sale. $AUTO are minted linearly starting from 15 December 2020 and will end approximately during October 2021 (0.008 $AUTO/ block: which is approximately 230.4 $AUTO daily).
To ensure fair distribution of $AUTO, only vault users (non-turbo vaults) will be able to mine $AUTO tokens in addition to the yields from auto-compounding vaults. A remark regarding the total supply shown in BSCscan can be found .
Deflationary Tokenomics: Vault fees (1.5 - 3.0%) on vault users' profits are used to perform market buy-backs and these $AUTO are burnt out of supply forever .
Utility:
Receive fees from cross-chain vaults
Receive fees from DEX aggregator
Governance
See the Roadmap below for more future utilities of $AUTO:
Percentage Breakdown:
~74.5% are available for the vault token mining program
~12% are dedicated to the team to ensure sustainable and rapid innovation
~13.5% are reserved for future incentives of cross-chain vaults and other products in the Autofarm ecosystem
The team has locked away 1,388 $AUTO tokens (from the first 1.5 months of emissions) for 6 months .
We understand the 80,638.189325 tokens that are currently reflected on. This was due to a misallocation of rewards to a particular vault that allowed for to be minted (this happened whilst was still <80k).
However, further minting of tokens would no longer be possible since the current total supply is already >80k & the minter has already been burnt from the get go.
To reduce the total supply to the promised 80k, the treasury has burned the corresponding 638.189325 surplus tokens:
