Hegic Launches “Autonomous Hegician” Options Trading Tool Built on Fetch.ai Autonomous Agent Framework
Nov 16, 2020
Fetch.ai autonomous agents will work on behalf of users to optimize trading strategies by auto-executing trades that are slated to expire
We are pleased to announce today that Hegic, the on-chain peer-to-pool options trading protocol built on Ethereum will be using Fetch.ai Autonomous Economic Agents to create Autonomous Options trading with the launch of a new product, “The Autonomous Hegician”.
Hegic is a rapidly growing options trading market, which has around $43m USD of wBTC and ETH currently in locked contracts on the protocol. To date over $2m USD worth of options have expired in the money, representing a total loss for the holders of those options. The Autonomous Hegician application will eliminate this issue for users of the Hegic protocol, by automatically executing option trades that are about to expire.
The Artificial Intelligence Agents, built with Fetch.ai technology will work on behalf of Hegic users to optimize their trading strategies by auto-executing trades that are about to expire, taking profit at pre-determined levels, and by enabling arbitrage between different markets. The Autonomous Hegician application will eliminate concerns associated with expired contracts for users of the Hegic protocol by automatically executing option trades that are about to expire.
Additional items on the Fetch.ai and Hegic roadmap include configuring the autonomous trading bot to take profits according to pre-determined rules, and to facilitate more complex trading strategies.
“The Agent Framework enables developers and companies to simplify their business processes and generate real ROI, through having smart agents intelligently solve problems,” said Fetch.ai Chief Technology Officer Jonathan Ward. “The potential of agent-based solutions are as much in the day-to-day reality of defi, trading, and finance, as they are in the economy of the future.”
The Fetch.ai Agent Framework is a codebase and series of tools that enable software developers to implement multi-agent systems that are powered by the FET token. More information about developing autonomous agents for financial, industrial and IoT applications are available at docs.fetch.ai.
Fetch.ai, a Cambridge-based artificial intelligence lab, is building the infrastructure required for autonomous software agents to begin performing useful economic work on behalf of individuals, businesses, and organizations. Fetch.ai’s network is based around open-source technology and gives users access to the power of AI on a world-scale secure dataset to carry out complex coordination tasks in the modern economy. For more information, please visit https://www.fetch.ai.