The creators of Ranger Protocol, the Solana-based crypto derivatives exchange, are also jumping on the AI bandwagon, after raising $1.9 million from venture investors.
Ranger’s eponymous trading hub pools cryptocurrencies (the most popular investment contract in DeFi for trading tokens like SOL) from multiple protocols to ensure good deals for traders. Since its launch in late December, it has facilitated $25 million in transactions, a drop in Solana’s total criminal landscape.
The protocol now plans to add new product lines that give clients access to AI-assisted trading strategies, co-founder Coby Lim told CoinDesk. A press release described vaults managed by AI agents that combine programmatic trading strategies with social media and data insights.
DeFAI (an acronym for DeFi and AI) has been taking off for months as enthusiasts from both trendy tech fields experiment with mixing the two. AI agents can be configured to control their own crypto wallets, opening up unlimited possibilities.
“AI and DeFi are on a collision course,” said co-founder Fathur Rahman (commonly known as Fa2). “Automation, predictive modeling and intelligent execution will redefine trading. AI optimizes strategy, DeFi provides transparency and together they unlock a new frontier of efficiency.”
Rahman said AI deployments are expected in “the coming quarters.”
Meanwhile, Ranger rangers are working to remove crypto offenders from two more protocols, Adrena and Drift, to add them to their current base of Jupiter and Flash contracts. Their bet is that Ranger’s aggregation strategies generate deeper liquidity for institutional offender traders than any exchange.
That’s also what Ranger backers are counting on. Viktor Fischer of lead investor RockawayX called Ranger’s “intelligent order routing” a “critical step toward a vibrant Solana perpetual securities market.”
Ametric, Big Brain Holdings, RISE Capital and Anagram joined RockawayX in the $1.9 million funding round, which closed in December at a valuation of $30 million.
