While YFI is getting nuked, the latest token KP3R of Andre Cronje’s latest product Keep Keep3r Network launched yesterday in beta rallied to $381 today.
Keep3rV1 (KP3R) is currently trading at $290, as per CoinGecko.
Already, the token has reached a market cap of over $60 million and became the “most traded pair across DEXes after it spikes over 2,000% within 24 hours of launching.” Currently, it is managing $257 million in daily trading volume.
Meanwhile, DeFi darling YFI has slipped about 54% in the past month and continues to do so as it currently trades at $11,550. And at the current price, “86.6% of the addresses with a balance in YFI are out of the money,” as per IntoTheBlock.
Cronje, who is known for Yearn,Finance project, first shared this project last week, which only went live this week.
Launched in beta, the network is still under audit. Although Keep3r Network v1 contracts have been released and have been audited and reviewed, bugs could still be found; as such it is advised not to invest one is not willing to lose.
It is basically a decentralized network for projects that need external DevOps and for external teams to find keeper jobs.
Here a keeper is an external person or a team that executes a job, which refers to a smart contract that wants an external entity to perform an action.
To join as a Keeper, you call bond on the Keep3r contract that needs 3 days to be activated. For this, KRP tokens aren’t needed.
As for registering a job, it can be done by submitting a proposal via Governance or through a contract interface.