what do you think about Autofarm?

I just put some money into the TUSD/USDC vault on cronos chain. The displayed APY shown between 20% and 21% but the reality is I’ve got around 1.5% net APY. I know the APY on the protocols doesn’t show the net APY (after IL losses) but there is a massive difference between 21% and 1.5% and it cannot be explained only with IL. After all it’s a stablecoin vault, so I began to look up for information about this dApp.

First time I found it was like 1.5 years ago, when auto was trading around 6k. I use it on the past on some vaults on BSC scan, but I cannot recall the results.

* Today I went into their telegram group and a guy was complaining about the same issue just 15 days ago with the same vault, a completely misleading APY.
* The underlying vault on VVS finance gives right now 4.9% APR, so I don’t how they can get over 20% APY on that vault (from 4.9% APR you don’t get 20% APY, you get around 5.02% APY compounding more than 100 per year).
* On their reddit group (nearly dead) another guy has complained one month ago about that vault as well. That was the only post 1 month ago, the previous post was 4 months ago.
* On discord, on the main channel there is a message every 3 days, doesn’t look amazing for a dApp with 183k followers on twitter.
* On telegram group I joined the channel but for some reason I am expelled after 1 minute
* I aped into different stable pools between different chains and dApps and according to tin network , I’ve got 0.1% on this autofarm vault in 2 weeks and over 0.54% on other dApps and chains in just 1 week

What is your experience with autofarm?

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2 thoughts on “what do you think about Autofarm?”

  1. It doesn’t make sense how they promise a 20% APY when base rewards and incentives are less than 5%, it’s probably an error. You shouldn’t experience IL on stablecoin pairs, unless one of the stablecoins depegs.

    I looked at the DeFi Llama yield dashboards for TUSD/USDC on VVS and it’s close to what you described, almost 5% APY: [https://defillama.com/yields/pool/e3ac0848-93a6-4189-b404-f1ede929b2e1](https://defillama.com/yields/pool/e3ac0848-93a6-4189-b404-f1ede929b2e1)

    Then I compared that with the Autofarm yield page but it only shows the UI numbers, not the actual rewards received so it still isn’t clear to me where the 20% comes from: [https://defillama.com/yields/pool/51262b5e-fbd9-45c6-aab0-9c4cedf55f35](https://defillama.com/yields/pool/51262b5e-fbd9-45c6-aab0-9c4cedf55f35)

    This is most likely an error, the real APY should be a little higher than the VVS APY.

  2. I used autofarm in the past but something about it seemed off so I stopped. I don’t think they’re going to rug people. Maybe their tech/oracles just suck ass or only update every few days.

    I use beefy.finance now.


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