Cambridge, UK - April 19, 2023 – Fetch.ai, an open platform that powers peer-to-peer applications with automation and AI capabilities, today announced the development of a new suite of agent-based trading tools for decentralized exchanges (DEXs). The platform leverages intelligent agent interactions to optimize DeFi trade execution and enhance the user experience.
The decentralized finance (DeFi) market is expected to achieve a value of $232 billion by 2030, showing a compound annual growth rate of approximately 42%, but the user experience has often been hindered by inefficient trade execution and high fees. Fetch.ai's new suite of tools aims to address these challenges by introducing intelligent agents that can execute trades on behalf of users, ensuring the best possible outcomes while reducing the need for manual intervention.
With Fetch.ai's new DeFi trading tools, users will be able to transparently interact with each other in a peer-to-peer manner, powered by automated software agents operating independently to execute the trading strategies of their owners. Fetch.ai's agent-based trading tools, which are slated to officially launch in Q2 of 2023, are the first of their kind to hit the market and are expected to revolutionize the current way users engage with the DeFi ecosystem.
The platform uses machine learning algorithms to analyze market conditions and execute trades based on user-defined parameters, such as maximum slippage and price impact. By utilizing Fetch.ai's AI-powered software agents, users can directly link buyers and sellers, allowing them to trade using their own smart contracts. The absence of liquidity pools eliminates the possibility of honeypots for hackers, as well as the potential for rugpulls which continue to be a huge threat to the Web3 ecosystem.
"As we stand at the forefront of a new era in the DeFi sector, with rapidly evolving technologies and innovations, we recognize the need to go deeper into decentralization."
said Humayun Sheikh, CEO at Fetch.ai.
"AI agent-based trading has enormous potential to remove central points of failure and solve some of DeFi’s biggest problems such as liquidity contract hacks and rugpulls, which cost the industry billions of dollars a year. At Fetch.ai we offer a fresh approach to finance that can usher in a new age of decentralized possibilities."
Fetch.ai's platform is built on a decentralized network of agents that can perform a wide range of tasks, from data analysis and prediction to complex financial modeling. The new trading tools are the latest addition to Fetch.ai's growing suite of products and services, which includes a decentralized machine learning platform and an autonomous economic agent framework.
For more information on Fetch.ai's agent-based trading tools, visit the company's website at www.fetch.ai.
Fetch.ai provides the infrastructure to build smart, autonomous services. It is an innovative platform that powers peer-to-peer applications with automation and AI capabilities. Its platform provides all the necessary tooling for builders to develop, deploy and monetize their applications and platforms. As an autonomous machine-to-machine ecosystem, Fetch.ai's agents work as a network of independent parties and interact with each other directly via the blockchain network. Any resulting agreements between agents are then recorded on the Fetch.ai blockchain using FET.
