Keep3r Network is a decentralized platform connecting projects with external developers and operations teams, known as “Keepers,” to execute tasks essential for smart contract maintenance and automation. This article delves into the core components of Keep3r Network, its innovative token model, and the expanding ecosystem it fosters.
Table Content:
Understanding the Key Players: Jobs and Keepers
The Keep3r Network relies on two primary participants:
Keepers: Skilled individuals, teams, or even automated bots capable of performing technical tasks. To access jobs, Keepers must register with the Keep3r Network, demonstrating their competency and reliability. They can range from individual developers to sophisticated DevOps teams.
Jobs: These are the specific tasks that projects need completed. Jobs can be listed on the Keep3r Network through two distinct mechanisms:
- Governance Proposal: Projects can submit a job request through the Keep3r governance process, requiring community approval before listing. This ensures that listed jobs align with the network’s overall goals and quality standards.
- Liquidity Provision: Projects can also list jobs by providing liquidity to approved KP3R token pairs. This creates a pending governance proposal that, once approved, automatically adds the job to the network. This incentivizes participation and ensures a robust pool of resources.
The Ingenious Tokenomics of KP3R
The KP3R token fuels the Keep3r ecosystem with a unique supply and demand dynamic:
Supply Side: KP3R has no fixed maximum supply. New tokens are minted in two primary ways:
- Keeper Rewards: Keepers earn KP3R tokens as rewards for completing jobs, paid out from the fees collected for job execution. This ensures Keepers are compensated fairly for their work and incentivizes ongoing participation.
- Liquidity Incentives: Jobs don’t pay Keepers directly in ETH or other tokens. Instead, they provide liquidity and receive “Bonded KP3R” equivalent to their contribution. These Bonded KP3R are newly minted, incentivizing liquidity provision and supporting the network’s stability.
Demand Side: Demand for KP3R arises from:
- Liquidity Provision: Projects seeking to list jobs must acquire KP3R to provide liquidity. This creates consistent demand for the token.
- Governance Participation & Potential Treasury Fund Rewards: KP3R holders can participate in governance decisions and potentially share profits from the Treasury Fund, currently funded by direct payment fees, but with potential for future revenue streams from other ecosystem products.
Exploring the Keep3r Ecosystem
Beyond its core functionality, Keep3r is evolving into a comprehensive decentralized coordination ecosystem, simplifying project maintenance and expanding its utility:
- Metawallet: A smart wallet enabling reduced transaction fees by batching multiple transactions into one. It also allows for shared wallet management, enhancing security and flexibility.
- MetaKeep3r: Enables Keepers to instantly convert earned Bonded KP3R to ETH, bypassing the standard 14-day unbonding period for those holding at least 100 KP3R. This offers immediate liquidity for active Keepers.
- Keep3rV1Oracles: On-chain oracles providing data for all token pairs on Uniswap, enhancing the accuracy and reliability of decentralized applications.
- Uniquote: A pricing system for LP tokens on Uniswap, crucial for accurate valuation and trading.
- Unihedge: A system designed to mitigate impermanent loss for liquidity providers on Uniswap, reducing risks associated with providing liquidity.
Early Traction and Incentives
Keep3r cleverly addresses the chicken-and-egg problem of attracting both Jobs and Keepers by providing compelling incentives:
- Jobs: Liquidity provision for KP3R allows access to Bonded KP3R for Keeper payments, eliminating upfront costs while ensuring task fulfillment.
- Keepers: Earn KP3R as rewards for completed jobs and transaction fee reimbursements, incentivizing participation and quality work.
Benefits of Holding KP3R
KP3R serves three primary functions:
- Bonded KP3R: A bonded form of KP3R (1:1 ratio) granting access to higher-paying, more complex jobs for Keepers.
- Governance: KP3R holders can influence network decisions through voting, including job approval, dispute resolution, Keeper vetting, and Treasury Fund allocation.
- Rewards: Keepers receive KP3R rewards for completed work, incentivizing active participation and ensuring a reliable network of service providers.
KP3R Token Information & Acquisition
- Token Name: Keeper Network
- Ticker: KP3R
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0x1ceb5cb57c4d4e2b2433641b95dd330a33185a44
- Token Type: Utility, Governance
- Total Supply: 376,331
- Circulating Supply: 376,331
Note: Binance delisted KP3R on November 6, 2024. Learn More.
Acquire KP3R through:
- Centralized Exchanges (CEXs): While Binance has delisted KP3R, other exchanges may still support trading.
- Bonding on the Project Website: Bonding KP3R directly through the Keep3r Network platform.
Wallet and Exchange Options
Wallets: Store KP3R on ERC-20 compatible wallets like Coin98 Super Wallet.
Exchanges: KP3R was previously traded on Binance, Sushiswap, Kraken, and Coin98 Exchange. Check current exchange listings for updated trading options. You can also swap tokens directly on Coin98 Exchange. Learn more about Coin98 Exchange.
