Quick take:
- The company is building Axal Autopilot, a verifiable autonomous agent network.
- The platform allows users to create personalised trading strategies including a yield maximiser, portfolio rebalancing and auto cash-outs.
- The company plans to use the fresh capital to expand its current team of five members.
Axal, a Web3 startup building on-chain trading tools has launched its first product, the Axal Autopilot, described as a verifiable autonomous agent network.
The launch was accompanied by an announcement of a $2.5 million pre-seed round led by CMT Digital, with participation from a16z Crypto Startup School, Escape Velocity, IDG Vietnam, Artichoke Capital, Trident Digital, Blockchain Builders Fund, Blockhunters Group, Echo and the Mentat Group. The company plans to use the funds to expand its team of five.
The agent-powered trading automation platform allows users to create personalised trading strategies, leveraging tools like portfolio rebalancing, which enables traders to balance and maintain the desired asset portfolios.
There is also a yield maximiser that uses algorithms to help users find the best opportunities, while the auto cash-out tool allows trader accounts to automatically cash out positions when certain conditions are met.
Axal Autopilot also has multi-chain support, enabling users to buy, hold and sell crypto assets from different blockchains “seamlessly”.
“Web3 agents are having a moment right now, but it’s easy to get lost in a sea of projects. Axal is laser-focused on making agents verifiable to actually do meaningful tasks — not just creating a token or providing entertainment, but making our lives easier through automation,” Axal Founder Ash Ahmed told The Block.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
Credit: Source link
