What to know:
- Ranger Labs’ crypto perps aggregator is planning to incorporate AI-powered trading products.
- The founders believe that AI and crypto trading technologies are converging.
- Investors view the AI initiative as a significant advantage for Ranger’s offerings.
The creators of the Solana-based crypto derivatives platform, Ranger Protocol, are advancing their project by integrating artificial intelligence, following a successful funding round that raised $1.9 million from venture capitalists.
Ranger Protocol functions as a trading venue that aggregates crypto perpetual contracts (popular investment options in decentralized finance) across various platforms, enhancing yields for traders. Since its launch in late December, it mediated $25 million in trades, which is only a fraction of the overall Solana perpetual contract market.
Plans are in the works to introduce new product lines, granting users access to AI-driven trading strategies, as announced by co-founder Coby Lim. A recent press statement revealed that vaults overseen by AI would mesh programmatic trading techniques with data insights sourced from social media.
The trend of combining decentralized finance and AI (termed DeFAI) has been gaining momentum as fans from both sectors begin to explore this synergy. AI systems can be configured to manage their crypto wallets, presenting limitless opportunities.
“AI and DeFi are on a collision course,” co-founder Fathur Rahman asserted. “Automation, predictive modeling, and intelligent execution will redefine trading. AI improves strategy, while DeFi offers transparency, creating a new realm of efficiency together.”
Rahman commented that implementations related to AI are anticipated in the forthcoming quarters.
Meanwhile, Ranger’s team is working to connect with two additional protocols, Adrena and Drift, to enrich their existing trading contracts, utilizing aggregation strategies aimed at securing deeper liquidity access for institutional traders than any single exchange could achieve.
Investor Viktor Fischer of RockawayX described Ranger’s “smart order routing” as a “critical step towards a vibrant Solana perpetual market.”
Backing this $1.9 million funding initiative were Asymmetric, Big Brain Holdings, RISE Capital, and Anagram, finalizing at a valuation of $30 million.
