It seems like AI chatbots are everywhere these days, almost ubiquitous. When something becomes overexposed and people start experiencing a sense of fatigue, they often look for the next big thing. In one of our recent articles, we discussed DeFi 3.0 and AI Agents. But what happens if you combine DeFi and AI?

Lately, we’ve been hearing more and more about the concept of DeFAI (DeFi + AI), sometimes called AiFi or AgentFi. Regardless of the name, this concept aims to merge DeFi with AI to simplify DeFi operations and processes, potentially unlocking more profits through artificial intelligence.

At first glance, this seems like a promising idea with a lot of potential. For example:

• AI agents could help tackle DeFi’s complexity.

• Automated trading and yield optimization could boost profits.

• Enhanced trading strategies could help reduce human (emotional) errors.

• Existing trading bots (like BananaGun) could be empowered to create a better trading experience or more interesting token economics.

In short, DeFAI could effectively manage various DeFi activities, including swaps, farming, lending/borrowing, and more. It could also enable automation across multiple platforms.

If we sift through current AI, AI agents, and similar narratives, there are already several projects aligning with the DeFAI concept. Below are a few examples (ranked by market cap, and all projects are not investment advice):

The first project: Griffain (GRIFFAIN)

Griffain allows users to execute any on-chain operation using natural language instructions, going beyond just trading. You can think of it as an ecosystem where different AI agents can be used to complete various tasks. For instance, you could use it to replicate wallet transactions or even create your own token (like a MemeCoin).

According to the latest data from Messari, the total market cap of DeFAI is currently less than $1 billion, with Griffain leading in market cap, as shown in the chart below.

According to data from CMC (CoinMarketCap), the current market capitalization of GRIFFAIN (the token officially launched on November 3, 2024) is $368 million, as shown in the chart below.

The second project: Hey Anon (ANON)

Hey Anon has been deployed on multiple chains and has recently also launched on Sonic. This protocol is an AI-driven DeFi project, focusing on features such as natural language trading interfaces, autonomous DeFi agents, and research and communication agents. Its main goal is to simplify interactions, aggregate real-time project data, and execute complex operations through natural language commands.

The project is reportedly sponsored by DWFlabs, a well-known market maker in the crypto space, as shown in the chart below. However, the protocol is still in internal testing and has not officially launched yet. The public test version is expected to open by the end of this month (January 2025).

According to data from CMC, the current market capitalization of ANON (the token will officially launch on December 22, 2024) is $141 million, as shown in the chart below. This is likely influenced by the news of the DWFlabs sponsorship, along with the recent integration of Aave’s lending functionality into Hey Anon. These positive developments are reflected in the token’s price movement, which surged nearly 8 times last week.

The third project: Mode (MODE)

Mode is an L2 built on the OP Stack, with the main goal of creating a DeFi economic ecosystem entirely operated by AI agents. Currently, the protocol is striving to leverage the momentum of AI Agents, and its ecosystem already hosts over 100 AI agents offering various optimized farming and trading functionalities.

According to CMC data, the current market capitalization of MODE (the token officially launched on May 7, 2024) is $94 million, as shown in the chart below.

The fourth project: neur (NEUR)

Neur combines LLM models (Large Language Models, such as the most popular LLM model, GPT-4 from ChatGPT) and is an open-source program specifically designed for the Solana ecosystem. The product is still in internal testing. It will allow users to interact seamlessly with various DeFi protocols and NFTs through its smart interface.

According to CMC data, the current market capitalization of NEUR (the token officially launched on December 23, 2024) is $47 million, as shown in the chart below.

The fifth project: Orbit (GRIFT)

Orbit can be understood as a DeFi companion program. Its intelligent agents allow users to interact with multiple protocols across different chains, and it currently supports over 100 blockchains and more than 200 protocols (ranging from EVM to Solana).

The protocol is likely launched by the SphereOne team, which is a cross-chain crypto payment platform (the official website prominently features a link to Orbit). As shown in the chart below.

According to CMC data, the current market capitalization of GRIFT (the token officially launched on December 6, 2024) is $46 million, as shown in the chart below.

In addition to the five DeFAI projects listed above, which are included in CMC and have relatively high market capitalizations, there are other related projects worth following. Here’s a brief list:

ASYM: An intelligent agent focused on automating MemeCoin trading. The protocol mainly uses on-chain and social data to identify MemeCoin trends. The token officially launched on December 7, 2024, and currently has 7,200 followers on Twitter. It has not yet been listed on CMC. As shown in the chart below.

Gekko AI: This is a fair-launch trading agent created by Axal (Axal is a verifiable agent network supported by a16z and Unusual Ventures), integrated with Axal’s Autopilot. Its token was officially launched on December 20, 2024, and it currently has 4,700 followers on Twitter. It has not yet been listed on CMC. As shown in the chart below.

Cod3x: An infrastructure that combines DeFi and AI, offering no-code building tools to create automated DeFi strategy agents. The project’s token has not yet been launched.

Almanak: A quantitative smart agent that uses TEE (Trusted Execution Environment) to protect privacy. The project’s token has not yet been launched, but its website has already released the corresponding tokenomics. As shown in the chart below.

WayFinder: An AI protocol launched by Parallel (a well-known card game project under the Echelon Prime Foundation). Initially focused on use cases in gaming environments, it has now expanded to support use cases in non-gaming environments, riding the AI Agents wave. Users can deploy their own AI agents with a single text message or execute operations like Swap, Farming, and NFT minting via natural language commands, supporting chains like Ethereum, Solana, and Base. The project’s token has not yet been launched, but they have launched a staking Prime rewards activity on their website. PRIME token holders can earn 40% of the PROMPT supply through caching (similar to staking), and PROMPT is likely the token name for the WayFinder protocol.

However, it’s important to remind you that the 10 DeFAI projects listed above are provided for exchanging ideas and learning purposes only and are not investment advice. Please take responsibility for your own wallet and always do your own research (DYOR).

Overall, the integration of DeFi and AI seems interesting, but many protocols are still in the testing phase, presenting both opportunities and risks. Furthermore, most existing projects still simplify user task execution through chat features, such as processing user needs by entering specific keywords, which essentially still falls under the category of AI+LLM trading bots.

From a demand perspective, DeFAI appears to have some potential. Whether users will accept this approach is something that time will reveal. From a hype perspective, it’s uncertain whether this concept will generate more community involvement or FOMO. However, with active participation from entities like DWFlabs, the market may indeed need to create more hotspots for ongoing hype.

Looking ahead, it will also be interesting to see if traditional, well-established DeFi projects decide to follow this concept. If they actively adopt it or collaborate with DeFAI projects, the popularity could rise quickly. As for how much impact this will have in the future, we can only wait and see.

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