Keep3rV1 (KP3R) was officially launched in October 2020 by the well-known name in DeFi. It is an open-source decentralized platform that would facilitate coordination between projects and the developers in the blockchain ecosystem. As a decentralized jobless marketplace, Keep3rV1 allows different projects to outsource jobs to external contractors, or “Keepers,” in exchange for KP3R tokens. It ensures that automation and efficiency are key factors that make it a very important tool when it comes to DeFi and blockchain operations.
Keep3rV1 was devised to reduce friction between developers and projects on the blockchain through the automation of complex tasks, such as transaction processing, liquidity, and the execution of smart contracts. The native token of the platform is KP3R, the internal currency utilized for paying for services and incentivizing job execution via Keepers for projects.
Keep3rV1 was founded by Andre Cronje, who is also a founder of Yearn Finance. Cronje, as one of the original DeFi founders, created Keep3rV1 to make the job of delegation easier in an efficient marketplace for blockchain tasks. His skill in developing modular and interoperable DeFi protocols has been integral to the platform’s success.
Cronje’s vision was a decentralized ecosystem where projects would have an easy way to outsource tasks, reducing overhead operations and enhancing the efficiency of blockchain-based workflows.
Keep3rV1 is a decentralized network for job requesters and executors, known as Keepers. Projects create jobs, listing their requirements and rewards on the platform. Those performing the job will be rewarded in KP3R tokens. Keep3rV1 allows contract maintenance, rebalancing of liquidity pools, and refreshing of oracles through automated job executions, further enhancing the efficiency of DeFi applications.
The platform uses smart contracts to verify the completion of a job to ensure complete transparency and no disputes. To participate in Keepers’ high-priority tasks, they have to stake or hold KP3R tokens, thereby aligning incentives and securing the network.
In return, the keepers are compensated with KP3R tokens for performing the tasks. They can also stake KP3R to unlock additional opportunities or governance roles. Smart contracts run tasks for projects to allow trustless interactions with the Keepers.
Keep3rV1 is deployed on Ethereum, which has a limitation of the network’s base TPS at 15-30 transactions per second (TPS), but is looking for integrations with Layer-2 for scalability.
Keep3rV1 is highly integrated into Yearn Finance, automating strategy updates and rebalancing liquidity within the Yearn ecosystem. It also collaborates with Chainlink for the integration of decentralized Oracle services, ensuring that jobs have correct and reliable data for execution. The platform supports immediate maintenance of liquidity pools within SushiSwap, proving useful in optimizing DeFi protocols. Balancer integration enables rebalancing of liquidity on autopilot with minimal friction for liquidity providers.
In terms of recent developments, Layer-2 scaling integrations are planned for Keep3rV1 to enhance its scalability, efficiency, and transaction speed while reducing costs. Multi-chain expansion is also on the horizon, making Keep3rV1 more versatile and attractive to users.
Governance proposals are now live, thanks to KP3R token holders, enabling further decentralized decision-making and protocol changes. Developer incentive programs have been introduced, offering grants and rewards to developers building tools and enhancements on top of Keep3rV1, driving innovation within its ecosystem.
Keep3rV1 now supports automated yield optimization tasks for DeFi protocols, helping maximize returns for users with minimal manual interventions. Community-driven updates have been made based on feedback, emphasizing the platform’s commitment to decentralization and user needs. Additionally, educational campaigns have been launched to inform projects and developers about the platform’s advantages, leading to increased adoption in the DeFi space.
As of December 25, 2024, the native token of Keep3rV1, KP3R, changes hands at approximately $28.63. Factors affecting the price changes of Keep3rV1 (KP3R) include several key elements. The growing use of automation for task management in DeFi increases demand for KP3R tokens. Integrations on Layer-2 solutions enhance the efficiency of the platform, thus attracting more projects and developers. Improved governance mechanisms ensure greater trust and participation from the community.
Keep3rV1 is a decentralized task management hub where projects and developers find the perfect means to cooperate effectively. Large-scale automation, strategic partnerships, and community-oriented governance make Keep3rV1 a go-to tool for DeFi protocols and blockchain operations. Further multi-chain expansion, Layer-2 integration, and fostering innovation continue to drive scalability and reliability for decentralized task execution in Keep3rV1.
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FAQs
Q1. What is the use of Keep3rV1?
- A: Keep3rV1 connects the projects with the developers in question, the Keepers, for task execution like maintenance of contracts, updates of oracles, and liquidity management.
Q2. For what are KP3R tokens used?
- A: Reward, staking, and governance of the KP3R token within the platform.
Q3. How does Keep3rV1 differ from others?
- A: It decentralizes this task management that is automated and complex in nature for the DeFi protocols to lower their operational overheads.
Q4. How does Keep3rV1 ensure the tasks are performed?
- A: Smart contracts verify the completion of the jobs, thereby making interactions between projects and Keepers trustless and completely transparent.