The builders of Ranger Protocol, a Solana-based crypto derivatives exchange, are also jumping on the AI bandwagon, having raised $1.9 million from venture capitalists.
Ranger’s eponymous trading platform aggregates crypto perps (the most popular investment contract in DeFi for trading tokens like SOL) from multiple protocols to ensure great deals for traders. Since its launch in late December, it has facilitated $25 million in transactions, a drop in the bucket in Solana’s total criminal landscape.
The protocol now plans to add new product lines allowing customers to access AI-assisted trading strategies, co-founder Coby Lim told CoinDesk. A press release describes vaults run by AI agents that blend programmatic trading strategies with social media insights and data.
DeFAI (a portmanteau of DeFi and AI) has been taking off for months as enthusiasts of the two hot tech fields experiment with blending 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 open a new frontier of efficiency.”
Rahman said AI deployment was expected in “the coming quarters.”
In the meantime, Ranger’s rangers are working to mine crypto-perpers from two other protocols, Adrena and Drift, to add to their current base of contracts with Jupiter and Flash. Their bet is that Ranger’s aggregation strategies generate greater liquidity for institutional traders than any exchange ever could.
This is also what Ranger investors are counting on. Viktor Fischer of lead investor RockawayX called Ranger’s “intelligent order routing” a “critical step toward a dynamic Solana perpetual market.”
Asymmetric, 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.
