Blockchain company Axal secures $2.5M to build verifiable autonomous agent network

Axala blockchain company developing a network of autonomous agents, announced today that it has raised $2.5 million in pre-seed funding led by CMT Digital.

The funding round also saw participation from a16z Crypto Startup School, Escape Velocity, IDG Vietnam, Artichoke Capital, Trident Digital, Blockchain Builders Fund, Blockhunters Group, Echo and Mentat Group.

Axal is building a network of autonomous agents capable of executing user requests for predefined actions using blockchain technology. As much of the blockchain industry focuses on decentralized finance, which involves the movement of tokens and currencies, many agents manage monetary products.

For example, a user could ask an agent a query such as “Every time I get tokens that aren’t stable coins, exchange them for USDC tokens within 5 minutes.» Above all, the user doesn’t must indicate to the agent the steps to follow in order To execute the desired result, just request it. The agent generalizes the request into a multi-step process and then proceeds to fulfill it on its own.

To make this work, Axal has builds an ecosystem of artificial intelligence solvers to execute user intentions based on requests. Each solver in the system makes a bid to attempt to execute the query, or query step, And if he can show he can do it, you have to make it work And that the action is registered on the blockchain as a transaction. In this way, Axal can verify that each agent is acting correctly.

“Iimagine a world in which you can make a request, no matter how complex or lengthy, and an agent responds immediately with the guarantee that they did it correctly,» said Founder of Axal Ash Ahmed. “It’s a magical moment totally possible future when we combine the power of abstraction of intentions, the trust guarantees of blockchains and the competitive markets of agents, AI or humans. Axal is building this future.”

Using that of Axal network, the company launches its first product, Autopilota trading platform powered by autonomous agents. Automated trading robots have been around in the cryptocurrency trading industry for a long time, but most of them are built on simple logic that carry out transactions based on thresholds and pre-programmed rules.

Autopilot begins by asking users to answer risk assessment questions to help them assign categories around which tokens to trade and percentages to set using the automated agents. Anyone who holds crypto tokens can quickly strategize and I don’t need to worry on price monitoring. Agents automatically handle transactions, swaps and yield management.

Axal said it would use the new funding to expand its team and build on its basic architecture behind the autonomous agent creation, coordination and verification system.

Image: Shutterstock/Dilok Klaisataporn