What Is Auto (AUTO)?
AUTO is the native utility and [governance token](https://coinmarketcap.com/alexandria/glossary/governance-token) to the Autofarm protocol, which launched in late December 2020 on the Binance Smart Chain ([BSC](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain)). Autofarm is a cross-chain yield aggregator that enables users to get a high return on their assets from yield farming pools by staking in Autofarm vaults.
Autofarm aims to be a leading DEX and yield aggregator on the Binance Smart Chain (BSC) by incorporating yield optimization and [AMM](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm) aggregation as a single product: this allows users to have two products within a single platform, solving the problem of registering on multiple protocols.
Autofarm launched its first cross-chain vault on the Huobi ECO Chain in February 2021. Autofarm expanded its ecosystem in March 2021 by [acquiring](https://medium.com/autofarm-network/en-acquisition-of-farmfol-io-portfolio-manager-b73e1d96ff67) Farmfol.io an intelligent portfolio manager designed to simplify how users monitor and track their assets on Binance Smart Chain.
The AUTO token can be used for proposals voting and will receive fees earned from the protocol. AUTO initiated a community-fair-launched token distribution by ensuring that only vault users will have an opportunity to participate in the AUTO token vault mining programme.