Pheasant Network by PG Labs said it has raised $2 million through a seed financing round and ecosystem grants as it builds an artificial intelligence and intent-based approach to cross-chain interoperability for decentralized finance, a category the project describes as DeFAI.
The company said the seed round was led by mint, with participation from 90s and several individual investors. Pheasant Network also cited additional support in the form of grants or ecosystem backing from the Ethereum Foundation, the Optimism Foundation, Polygon Labs, and multiple Layer 2 ecosystems. The funding is intended to accelerate the development of a cross-chain user experience that uses AI to help users express outcomes they want to achieve, while the system determines how to execute those outcomes across networks.
Pheasant Network is positioning its product around the growing complexity of a multi-chain crypto environment, where fragmented liquidity and operational risk can increase as users navigate bridges, routes, fees, latency, and security considerations. The company is emphasizing intent-based workflows, which focus on having the user specify the desired result rather than manually performing each step. It said its approach combines intent with AI so execution can adapt, evaluate trade-offs, optimize paths, and handle multi-step flows across networks.
The project said it currently supports Ethereum and more than 30 Layer 2 networks, and that its Optimistic Interoperability mechanism has processed more than $200 million in cross-chain volume. With the new capital, Pheasant Network said it plans to expand the utility of its native token, PNT, introduce AI-assisted routing and automated yield flows, and build connectivity for a multi-stablecoin environment, including emerging real-world asset-linked use cases. Additional roadmap items include releasing a utility-oriented Pheasant NFT series and enabling one-click cross-chain actions to simplify advanced DeFAI operations.
Pheasant Network also said it is adopting emerging intent standards, such as ERC-7683, and has launched Pheasant Points, a loyalty system intended to visualize contributions and engagement across its ecosystem.
KEY QUOTES:
“Pheasant Network is a DeFAI project bringing AI fused with Intent to DeFi interoperability, supported by the Ethereum Foundation and leading Layer 2 ecosystems.” | Tomo, CEO at Pheasant Network.
Tomo Tagami, CEO at Pheasant Network
