Fetch AI is an emerging web infrastructure provider that has unveiled the development of tools intended to provide a more efficient and improved user experience in decentralized exchanges (DEXs). Using advanced AI-based technologies, the company’s proprietary platform is built to enhance data analysis and financial modeling. Recently, DWF Labs have invested $40 million for the development and deployment of autonomous agents, network infrastructure, and decentralized machine learning on Fetch AI’s platform.
The pending tools are projected to launch in Q2 2023 and promise to revolutionize the decentralized finance (DeFi) market. Currently, highly inefficient trade execution and high fee structures inhibit the growth of DeFi’s market capitalization, which is projected to hit $232 billion by 2030. Fetch AI is determined to challenge this inefficiency through the implementation of AI-powered agents which autonomously carry out trade executions that guarantee positive outcomes while minimizing manual intervention.
The agent-based trading model leverages decentralized solutions to create full automation of buying and selling, eliminating the need for liquidity pools, and thus eliminating the risk of hacks and “rugpulls”. Users no longer need to commit to long-term staking amid unpredictable market conditions. Moreover, Fetch AI’s framework includes cryptographic primitives, escrow-based smart contracts, and a decentralized toolset, further securing the user’s financial data and private information.
The new suite of tools is possible, thanks to the IBC Protocol integration and the support of Cosmos SDK sources. The combination of such resources is beneficial for both sides of DeFi’s expanding universe, as it allows for interoperability between other blockchain networks and decentralized applications not just from Fetch AI, but from other creators as well.
Humayun Sheikh, Fetch AI’s CEO, believes that the current DeFi situation can be greatly changed by introducing robust decentralized peer-to-peer trading and cutting out liquidity pools, which can increase efficiency and reduce operational risk. He further presented that the platform’s code base will eventually be available as open source to enable the creation of more secure and accessible DeFi applications.
At the helm of this mission is Humayun Sheikh, a highly experienced investor and technologist who was the executive leader of multiple projects related to emerging technologies such as machine learning and AI. Having worked across a range of fields, from international banking to e-commerce, Humayun is a driving force in the Digital Distribution Economy, committed to shaping a world in which AI-driven decentralized digital assets gain widespread acceptance.
