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  • Andre Cronje, the lead developer of the highly successful DeFi project Yearn Finance has launched a new project called KP3R.
  • The KP3R token started trading on October 28 and saw a massive price explosion of 2,000% within hours.

The Keep3r Network, designed by Andre Cronje, the developer of Yearn Finance to solve the current problems with complex systems of smart contracts. The mission of the Keep3r Network is to become a decentralized ecosystem for projects to find ‘Keepers’ that will help with their upkeep. The KP3R token started trading on Wednesday, and so far it has seen a massive price explosion of 2,000%.

Projects wishing Keepers to perform duties simply need to submit their contract to Keep3r Network, once reviewed and approved by a bonded Keeper, Keepers can begin fulfilling the required work.

The KP3R token is used to reward Keepers. Additionally, as certain jobs carry financial risks, only Keepers that have a minimum financial bond will be able to execute them. Of course, governance over the protocol also happens directly through KPR holders.  

kp3r price

KP3R 30-minute chart

KP3R started trading as low as $10 on Uniswap before exploding towards a high of around $200 only three hours later. The digital asset reached a $35 million market capitalization ranking in the top 200 coins by market cap.