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.

AccessTimeIconJun 29, 2021 at 1:30 p.m. UTC
Updated May 15, 2023 at 1:44 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

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.” 

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.