🪙Tokenomics
AUTO token is the native token of Autofarm
Last updated
AUTO token is the native token of Autofarm
Last updated
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 here.
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 here.
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 here.
We understand the 80,638.189325 $AUTO tokens that are currently reflected on@bscscan. This was due to a misallocation of $AUTO rewards to a particular vault that allowed for $AUTO to be minted (this happened whilst $AUTO was still <80k).
However, further minting of $AUTO 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 $AUTO surplus tokens:
https://bscscan.com/tx/0x598663bb8050c16c3777df838058540ed83c6223a7e8b1f9b9bade8fc7719c46
