Ranger Labs raises $1.9 million and eyes AI-powered cryptocurrency trading products

The developers of Solana-based cryptocurrency derivatives exchange Ranger Protocol are jumping on the AI ​​train as well, after raising $1.9 million from venture investors.

Called Ranger’s crypto perps (the most popular investment contract in DeFi for trading tokens like SOL) the trading venue combines multiple protocols to secure good trades for traders. Since its launch in late December, it has facilitated $25 million worth of trades, representing a reduction in Solana’s total criminal pool.

The protocol now plans to add new product lines that will give clients access to AI-powered trading strategies, co-founder Koby Lim told CoinDesk. A press release described vaults operated by artificial intelligence agents that blend automated trading strategies with social media and data insights.

DeFAI (a combination of DeFi and AI) has been taking off for months as enthusiasts of both crowded technology fields experiment with mixing the two. AI agents can be set up to control their cryptocurrency wallets, opening up limitless possibilities.

“AI and decentralized finance are on a collision course,” said co-founder Fathur Rahman (known as Fa2). “Automation, predictive modeling, and intelligent execution will redefine trading. AI improves strategy, DeFi provides transparency, and together they open new frontiers of efficiency.”

Rahman said the AI ​​is expected to be launched in the “coming quarters.”

Meanwhile, Rangers are working to pull cryptocurrency offenders from two other protocols, Adrena and Drift, to add to their existing contract base from Jupiter and Flash. Their bet is that Ranger’s pooling strategies provide deeper liquidity to institutional traders than any single exchange ever.

This is also what Project Ranger supporters are counting on. Victor Fisher of lead investor RockawayX called Ranger’s “intelligent order routing” a “critical step toward a vibrant permanent Solana market.”

Asymetric, Big Brain Holdings, RISE Capital and Anagram joined RockawayX in a $1.9 million funding round, which closed in December at a valuation of $30 million.