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About Keep3rV1
-
What is Keep3rV1 (KP3R)?
: A decentralized platform facilitating coordination between projects and developers. -
Launch Date
: October 28, 2020 (beta mode) -
Founder
: Andre Cronje, a blockchain engineer and application developer -
Unique Feature
: Reduces upkeep for blockchain-based projects by providing a decentralized ecosystem for projects and developers to work together. -
Token Supply
: No predetermined token supply; KP3R is minted when liquidity is provided to the platform via Uniswap. -
Circulating Supply
About Keep3rV1: A Revolutionary Decentralized Keeper Network
Introducing Keep3rV1 (KP3R): A Comprehensive Overview
Keep3rV1 is a decentralized platform meticulously designed to facilitate seamless coordination between projects requiring external development operations and those capable of providing the necessary services. In essence, the project functions as a dynamic job board, fostering interaction between job posters, such as decentralized finance protocols, and skilled job executors, known as Keepers. The diverse range of tasks undertaken by Keepers encompasses submitting and calling transactions on-chain, as well as completing intricate operations off-chain. Notably, Keep3rV1 leverages an ERC-20 token, KP3R, to facilitate governance and provide incentives to Keepers.
The project was formally unveiled on October 22, 2020, and subsequently launched in beta mode on the Ethereum mainnet on October 28, 2020.
The Visionaries Behind Keep3rV1: Meet the Founders
Keep3rV1 was founded by Andre Cronje, a visionary blockchain engineer and application developer who gained widespread recognition following the successful launch of the DeFi project yearn.finance and the phenomenal growth of its governance token, YFI, which experienced a staggering 1,300-fold increase in value within its first two months of existence in 2020.
Prior to his current role, Cronje held the position of Head of Innovation and Technology at the Fusion Foundation, the entity responsible for the Fusion protocol, where he spearheaded initiatives focused on decentralized applications, technology partnerships, and implementations. His diverse professional background also includes stints as Chief Code Reviewer and contributor at Crypto Briefing, Head of Technology at fintech firm Freedom, and Head of Technology at Shoprite Group, as well as blockchain technology development roles at BitDiem, Cryptocurve, and Lemniscap.
Notwithstanding the phenomenal growth of yearn.finance and YFI, Cronje has reiterated that his primary objective in launching novel platforms is to empower developers, rather than speculators, by furnishing them with intuitive products and design templates that facilitate seamless adoption.
Unveiling the Unparalleled Attributes of Keep3rV1
Keep3rV1 aims to alleviate the maintenance burdens faced by blockchain-based projects that rely on a multitude of smart contracts to power intricate systems. These projects often necessitate the involvement of external entities to accomplish tasks, and Keep3rV1 is designed to be a decentralized ecosystem that facilitates seamless collaboration between projects and developers, thereby enhancing efficiency.
The network is underpinned by Keepers, who furnish smart contracts, bots, or scripts capable of executing transactions or triggering events. To leverage the platform, a project submits a smart contract that undergoes review and approval by a bonded Keeper – one that has received and locked KP3R within the platform. Projects can establish rules governing which Keepers are eligible to undertake a job, such as stipulating a minimum bonded stake of KP3R or a certain number of previously completed jobs. Upon completing jobs, Keepers are remunerated in KP3R, although a project may opt to submit Ether (ETH) in exchange for KP3R-equivalent credits.
Cronje has asserted that Keep3rV1 confers the additional advantage of enabling the development of decentralized applications (DApps) that would be otherwise unfeasible, including MetaWallet — a smart-contract wallet that obviates the need for transactions or gas fees — and Unihedge — a system designed to mitigate impermanent loss.
What Is the Circulating Supply of Keep3rV1 (KP3R) Coins?
Notably, Keep3rV1 does not have a predetermined token supply, and it did not undergo an initial coin offering or token generation event. Instead, KP3R tokens are dynamically minted in response to liquidity provisioned to the platform via Uniswap. At its inception, Keep3rV1 boasted an impressive $5.5 million in liquidity. Within a mere 24 hours, this figure had surged to $9.8 million, accompanied by a substantial $384,197 in fees generated.
The project’s treasury is meticulously maintained by bonded Keepers, who assume responsibility for governance. Each non-KP3R transaction executed on the platform incurs a 0.3% fee, which is subsequently allocated to the treasury. In recognition of their efforts, Keepers who successfully complete jobs are rewarded with KP3R, which can then be staked to participate in governance or receive dividends, contingent upon the platform’s governance deciding to generate and distribute them.
The Security Architecture of the Keep3rV1 Network: A Robust Framework
Keep3rV1 is an Ethereum-based platform that leverages KP3R, an ERC-20 governance token. This implies that it relies on the Ethereum blockchain to validate any on-chain KP3R transactions. Notably, Ethereum employs a proof-of-work consensus algorithm, wherein miners engage in a competitive process to add new blocks to the blockchain, and a majority of nodes within the network must confirm a record for it to be officially posted.
Within the Keep3rV1 platform, bonded Keepers assume a pivotal role, overseeing the management and approval of jobs, as well as the governance of fellow Keepers, which encompasses the resolution of disputes and, when necessary, the blacklisting of malicious entities.
The project’s smart contracts underwent a rigorous audit in October 2020, conducted by PeckShield, a reputable blockchain security firm, prior to its launch. The audit report characterized Keep3rV1 as “well-designed and engineered,” and although it did not uncover any critical security vulnerabilities, it did identify certain potential medium- to high-severity risks, which, according to Croje, have been duly logged and addressed.
In Which Exchanges Can You Acquire Keep3rV1 (KP3R)?
KP3R is predominantly traded on Uniswap (V2), where it is paired with WETH (WETH) and USD Coin (USDC) for seamless exchange. Additionally, it is available for purchase on Bilaxy, Binance, and MXC.COM, where it can be traded on spot markets against Ether, Binance Coin (BNB), and Tether (USDT), respectively.
Are you intrigued by the prospect of acquiring KP3R or other prominent cryptocurrencies like Bitcoin (BTC)? CoinMarketCap offers a straightforward, step-by-step guide, designed to educate you on the intricacies of cryptocurrency and facilitate your inaugural purchase.
Associated Resources:
Discover Origin Protocol, a pioneering commerce platform designed to seamlessly bridge the gap between buyers and sellers.
Delve into the realm of yearn.finance, the pioneering DeFi project that catapulted Cronje to widespread acclaim.
New to DeFi? Delve into the world of decentralized finance with Alexandria, CoinMarketCap’s comprehensive online educational resource, offering an in-depth guide to navigate the complexities of this rapidly evolving landscape.
Remain at the forefront of blockchain advancements with the CoinMarketCap Blog, your premier source for the latest innovations and insights.