Fetch.ai, a U.K.-based artificial intelligence (AI) tool developer for crypto, is launching a new suite of trading products for decentralized exchanges (DEX). The company aims to facilitate peer-to-peer transactions between DeFi users using AI-powered "agents" to execute trades based on user-defined parameters.
The suite of trading tools will be rolled out later this quarter. The users submit their orders to the agent, which then puts them in escrow or an atomic transaction while it finds matching orders. The platform's strength lies in its ability to find and create liquidity, where agents collaborate to create decentralized order books. The absence of a liquidity pool means there is no trove of coins for hackers to target.
Fetch.ai is aiming to mitigate the risk of smart contract exploitation and rug pulls in DEXs using individual agents. These agents utilize their own smart contracts to execute users' instructions, reducing the likelihood of malicious activity in a DEX.
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