Yearn Finance developer Andre Cronje launches new KPR token, skyrockets 2,000% within hours
- Andre Cronje, the lead developer of the highly successful DeFi project Yearn Finance launched a new project called Keep3r network.
- The KPR token started trading on October 28 and saw a massive price explosion of 2,000% within hours.
Andre Cronje, the developer of Yearn Finance, launched the Keep3r Network on October 28, which was designed 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 KPR 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 KPR 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.
KPR 30-minute chart
KPR 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.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
