AgentFi Secures Initial Funding Round Led by Generative Ventures

AgentFi
3 min readApr 5, 2024

AgentFi, a cutting-edge protocol simplifying DeFi user experience through the use of on-chain AI agents, announces the successful completion of its initial funding round led by Generative Ventures. The team has launched its inaugural product on Blast mainnet, automating on-chain farming and trading for a broad user base through the use of ERC-6551, non-fungible token bound accounts.

“As regular users of DeFi, our team at AgentFi has experienced firsthand the complexities and challenges of managing on-chain activities. That’s why we’ve created our AI agents to make DeFi not only accessible, but also efficient & rewarding for the average user.” said Bo Hong Deng, former Goldman Sachs trader, co-founder and CEO of AgentFi.

“What sets us apart is that our agents adapt to the needs of different users, combining a fully autonomous approach with customizable options for more advanced use cases”.

The AgentFi team is a talented group of individuals distributed across the globe, combining expertise in tech, entrepreneurship and finance. The funds will be used to further bolster the team in areas such as marketing and engineering.

“On-chain agents offer a unique solution for guiding users in an increasingly complex DeFi landscape, and ideas like these are crucial for onboarding the next million users into Web3.” said Will Wang, Founder of Generative Ventures,

“AgentFi is a fast moving team with both strong TradFi and DeFi experiences. We’re very excited to be backing them and looking forward to seeing them innovate in this space.”

The first collection of 6551 NFTs from AgentFi was successfully sold to the public and is currently available for purchase on secondary marketplaces (for example, https://element.market/collections/blastooor). These NFTs are the agents that contain smart contract logic which enable them to perform automated on-chain actions.

These agents can be activated currently on Blast mainnet at https://app.agentfi.io/. The platform hosts a collection of strategies that enable users to optimize returns based on the unique points and yield farming opportunities available within the Blast ecosystem. To access these strategies, users simply need to connect to the platform with a wallet containing one of the NFTs, and activate the strategies with the click of a button.

Modeling after Blast’s points program, AgentFi is launching its own credits program in April to recognize and reward the contributions of its users. The rewards are designed in a way to incentivize early participation and long term usage of the platform. More information can be found in their recent announcement: https://agentfi.medium.com/announcing-agentfi-credits-program-59fd036d9471

Lastly, AgentFi employs a risk-isolated design, letting users maintain control of their funds at all times. Users deposit and withdraw funds into the wallets of their own NFTs, eliminating the need to store funds in third-party vaults, reducing the risk of single point of failure. Different strategies are also designed with different risk profiles from the start, giving users the flexibility to choose based on their own risk tolerance.

Stay updated on Agent’s progress at their socials:

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AgentFi

AgentFi is the home of onchain agents. We’re a platform to create, customise and mint your own onchain AI agent to perform onchain actions on it’s own.