Ethereum
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ETH · 5w

Founder of DeFi’s Yearn.finance (YFI) just launched another Ethereum experiment

Yearn.finance (YFI) founder Andre Cronje is full of ideas, even after he managed to roll out one of the most successful crypto projects in history.

The DeFi innovator recently unveiled his latest experiment, a network called the Keep3r Network, whose native token is KPR.

Unfortunately, like his other recent experiment, some participants got burned as they bought the token of the project without thinking, then got dumped on by bots and power users that managed to accumulate large swaths of this asset.

Here’s a recap of Cronje’s latest project, including what it is and what went down after he released it.

What is the Keep3r Network?

According to Cronje’s Github, which published for this new system on Oct. 19, Keep3r Network is a decentralized marketplace where projects can post jobs and where users can take jobs.

Jobs can be anything as “simplistic as calling a transaction, or as complex as requiring extensive off-chain logic.” A sample job Cronje mentioned was calling the “harvest” function in a Yearn.finance Vault, which collects and liquidates the coins farmed by the invested capital.

The idea with Keep3r is to allow projects strapped for manpower, such as Yearn.finance perhaps, to offload some of the work or maintenance to a group of freelancers.

To ensure that the user is right for a job, job posters can “specify a minimum bond, minimum jobs completed, and minimum Keeper age required to execute this function.”

In this system, the reward for each job being completed is meant to be paid in KPR tokens.

Job posters can pay out KPR by providing KPR-ETH liquidity on Uniswap.

There is no formal user interface for this network, with Cronje using the term “beta” in the project’s readme document.

A stealth launch

Like with Eminence and Liquidity Basic Income — Cronje’s two prior experiments released in the past month — Cronje directly interacted with the Keep3r Network contracts, signaling ...

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