SingularityDAO partners with AUTOFARM on Binance Smart Chain!

SingularityDAO took the first steps to full cross-chain operability by launching on BSC in November 2021 and we have just signed our first on-chain partnership with AUTOFARM

To celebrate this, we are increasing the rewards on BSC $SDAO single asset unbonded staking by 3x for one week!

After a successful launch and winning the 11th PancakeSwap farming auction, we entered into discussions with Autofarm, one of the Binance Smart Chain OG’s who also provide an entire multichain Ecosystem which we hope to further leverage in the future.

We rapidly figured out the synergies and mutual benefits of working together, not only from a co-marketing perspective but also in technical partnership. Thus, this announcement is likely the first of many to come from this joining!

We are proud to present not only the first auto-compounding vault for $SDAO single asset staking, available on https://autofarm.network but also announce that we are the first project to take part in AutoAmplify. To learn more about AutoAmplify check out this article from Autofarm.

What does this launch enable?

It allows $SDAO single asset stakers to automatically compound their assets on BSC by using Autofarm’s top notch yield optimization strategy.

You no longer have to harvest and re-stake manually while spending gas on fees (it is split among all stakers in the vault) and all your SDAO rewards are automatically compounded at the optimal frequency to maximize APY.

What does it mean for you?

There are 3 important aspects here:

• You can either stake $SDAO on Autofarm and see the magic of auto-compounding your deposits on https://autofarm.network (BSC) or continue to stake the classic way on https://app.singularitydao.ai (without auto-compounding)
• Tokens staked on Autofarm are still staked within our dApp, through the same protocols and still increase the TVL of our platform
• We get great exposure to the Autofarm community as they will be able to discover SingularityDAO and use our vault on the Autofarm platform

What happens when I stake in the $SDAO Autofarm vault?

Autofarm is a great addition to the SingularityDAO platform, as it simply adds a layer above our current single asset $SDAO unbonded staking pool. This means that when you deposit through Autofarm, your $SDAO is automagically staked within our own platform’s unbonded pool.

Autofarm then comes into play by automatically compounding your earned $SDAO rewards back into the staking pool! This means no more manual harvesting and re-staking of the SDAO token is required. By doing that, the gas fees to harvest and stake are shared between all participants of the vault which means it’s also more cost-efficient on top of optimizing the yield by auto-compounding. See your $SDAO deposits grow in real-time!

What else are we doing with Autofarm?

On top of leveraging Autofarm to enable auto compounding on your own staked SDAO, we will be the first project to take part in “AutoAmplify” by amplifying an existing Autofarm Vault with SDAO rewards. This will help to greatly increase awareness of SingularityDAO within the Autofarm community, which is currently one of the strongest on BSC (and other chains).

A co-marketing campaign?

To celebrate the start of this partnership (our first on BSC) — Autofarm have invited our CEO Marcello to chat live with them at Autofarm’s Twitter Spaces event this Saturday, February 5 14:00 UTC. Alongside this we will be running a co-marketing campaign on both the SingularityDAO and Autofarm Twitters, make sure to get involved for the chance to be airdropped some SDAO tokens!

This is just the start of what we hope will be a long and exciting relationship with Autofarm and we are excited to explore additional interesting projects together as our respective platforms grow.

Thank you for being part of SingularityDAO. Join our social channels to stay up to date with all the amazing things we have planned for 2022!

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