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Crypto Protocol Fetch.ai Offering AI Trading Tools for Decentralized Exchanges

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Fetch.ai, a UK-based firm that develops artificial intelligence tools for crypto, is launching a set of enhanced trading products for decentralized exchanges (DEX). The platform will use AI-powered "agents" to execute trades based on user-defined parameters and facilitate peer-to-peer transactions between decentralized finance (DeFi) users. The agents employ their own smart contracts to carry out users' instructions, reducing the risk of a central smart contract being exploited by hackers. Fetch.ai's approach aims to increase DeFi adoption by addressing security concerns surrounding DEXs, where nearly $120 million in crypto had been stolen in 2022 across 19 different breaches, according to analytics firm Crystal Blockchain.

(By Jamie Crawley)

Fetch.ai Fetch.ai $0.81
+3.27%
AI Decentralized exchange
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