DeFi Meets AI: Fetch.ai Launches ‘Intelligent Automation’ for Uniswap V2 and PancakeSwap

Users will be able to create up to five “DeFi Agents” with stop-loss triggers.

Jun 29, 2021 at 1:30 p.m. UTC
Updated Sep 14, 2021 at 1:18 p.m. UTC

Fetch.ai, a Cambridge, U.K.-based artificial-intelligence lab with a penchant for crypto, has launched a service to combat the risk of losses across the experimental decentralized finance (DeFi) space.

Announced Tuesday, the DeFi Agents toolkit can be set to automatically withdraw users’ funds from Uniswap v2 and PancakeSwap based on predefined conditions such as the exchange rate for a given token dropping to a certain level.

While cryptocurrency prices are weakening, DeFi innovation is booming, with lots of insurance-like projects and even DeFi-focused blockchain analytics in the offing.

Fetch.ai, which has applied its machine-learning chops to enterprise blockchain as well as public crypto, is preventing losses associated with decentralized-exchange (DEX) trading and the use of automated market makers (AMMs) by liquidity providers, the participants who deposit tokens on DeFi platforms in order to earn yields.

Currently, the DeFi Agent tool provides “stop-loss agents,” which can automatically withdraw user funds from liquidity pools. These kick in if the exchange rate between the two tokens falls to a predetermined level, according to a press release. In traditional trading, a stop-loss order is a parameter that triggers a purchase or sale of a specific asset once it reaches a given price. At launch, users will be able to create up to five agents with stop-loss triggers for all liquidity pools on Uniswap and PancakeSwap, a Binance Smart Chain-based DEX.

The Fetch.ai team plans to extend the functionality of the DeFi Agent tool to enable automatic liquidity withdrawal and deposit when token sentiment goes below a certain threshold; to move liquidity of ERC-20s or BEP-20s to a defined range if the price is breached (in Uniswap v3); and to remove liquidity if ETH fees are becoming too high in a given period of time, according to the release.

“Intelligent automation has the potential to transform the end-to-end experience of the DeFi applications we use today,” Humayun Sheikh, CEO of Fetch.ai, said in a statement, adding:

“Rather than constantly monitoring price action and having to manually withdraw liquidity, Fetch.ai DeFi Agents simplify and streamline that whole process for LPs.” 
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
2
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
3
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown