The blockchain project gains support from major industry players as it aims to enhance cross-chain transactions with AI-assisted routing and expanded PNT token utility.
PG Labs’ Pheasant Network closed $2 million in seed funding and ecosystem grants to further develop its AI×Intent-based decentralized finance (DeFi) interoperability features. Investors include mint, the Ethereum Foundation (nonprofit supporting Ethereum development), Polygon Labs (layer-2 blockchain developer), and Optimism (Ethereum layer-2 scaling project). The network has processed over $200 million in cross-chain transactions and plans to expand the use of its PNT token through AI-assisted routing technology.