The creator of Yearn Finance, Andre Cronje, has come up with a new Keep3r Network. Keep3r Network is a decentralized marketplace, where projects can post new jobs and users can search for keeper jobs. Keep3r Network has its own token Keep3rv1 (KP3R) whose market cap value is $34,123,489 and its market cap rank is #187.
Let’s have a detailed look over the Keep3r network.
Who is a Keeper?
A keeper is an external individual or a team that executes a job. Keepers are bots, scripts, other contracts, or simply EOA accounts that generate events. The events can be as simple as calling a transaction or as complex as the need for an extensive off-chain logic.
Whenever a user executes such a function, he will be rewarded with ETH tokens or with KPR tokens. The maximum amount of KPR rewarded is GasUsed + Premium. The Keep3r network allows the contracts to register as jobs where keepers can register themselves to perform these jobs.
The criteria for a keeper is to have a minimum amount of bonded tokens or have earned a minimum amount of fees or have been in the system for quite a long time. At the basic level, a keeper should have been registered in the system.
How to become a keeper?
To become a keeper, the user can call the bond(uint) function on the Keep3r contract. Even if the user does not own any KPR tokens, he can become a keeper by calling the bond(0) function. Before the user becomes a keeper, there is a 3-day bonding delay. After the 3 days time period, the user can call the activate() function. After the activation, the last job timestamp will be sent to the current block timestamp.
What are jobs?
A job refers to a smart contract that urges an external entity to perform a task. They require the jobs to be performed in goodwill without any malicious act. It is the reason why the contracts are registered first and then keepers will execute the contract.
Jobs can be created in two ways: either via governance or by adding liquidity.
Register a Job via Governance
To register for a job via Governance, the user can submit a proposal via Governance and include the contract as a job. On approval from the governance, the registration will be successful and no further steps will be required.
Register a Job by adding Liquidity
For this method, the user can call addLiquidityToJob(address,uint) function on the Keep3r smart contract. The user should be performing any current active jobs linked to this account. When the user calls this function, a pending Governance vote will be created for the job specified by the address in the function arguments. For every 14 days, the user should submit a new job request through this address.
Current Status of Keep3r Network
Andre Cronje, in his latest blog post, announced that the governance audit is finalized, fixes are being implemented and the product will soon be deployed. The treasury value is at $9.8m. Governance can vote on the usability and distribution of this value. During the past 24 hours, the total fees earned is $384,197. The on-chain oracle for UniswapV2 pairs, UniswapV2Oracle feeds have enough data points for the use in Keep3rV1Helper feeds.
In one of the recent blogs of Andre Cronje, he depicted that the first audit of the Keep3r network is received and all issues have been logged and updated on Github. The launch of the Keep3r network will include various jobs like Flash Liquidations, Uniquote price feeds, Yearn harvests, & Metawallet batch executions. After the launch, users can register as keepers to participate in the giveaway process and earn rewards.
How to buy Keep3rv1?
Uniswap has listed the KP3R token for the users who wish to purchase the token. Users can click on the link below to swap the KP3R tokens with their desired cryptocurrency:
At the time of writing, the Keep3rv1 price is $381.26 and a market cap value of $57,055,184. The maximum supply and the circulating supply of Keep3rv1 is 200,011 tokens. According to Coingecko, during the last 24-hours, Keep3rv1 has increased by 1400.2%. This price surge took place after the listing of the token on the world’s largest DEX, Uniswap a week ago.
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The most interesting part about the launch of this cryptocurrency is that it is Andre Cronje’s third protocol to GitHub since August and it was successful without much publicity. We’re all more curious about the future moves of Andre Cronje towards the development of the DeFi platform.