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Thursday, October 22, 2020

AGAIN, THERE IS A NEW PROJECT FROM THE CREATORS OF YEARN FINANCE!

 



After Yearn Finance and Eminence Finance, this time Andre Cronje released his third protocol on GitHub on October 19, 2020, then called Keep3r Network.


Although there is no official release announcement, judging from the Kepp3r documentation, the protocol is now accessible with a beta version. This release was also warmly welcomed by DeFi activists, despite some controversy that had previously occurred.


Different from Yearn Finance and Eminence Finance, Keep3r is a marketplace with a decentralized gig style and has a network native token called KPR. This platform aims to provide less manpowered crypto projects to be able to access specialized labor and technology.


Although not yet officially released, a number of opportunistic traders and bots injected some funds into the platform and started trading KPR tokens on Uniswap.


Even in just a trial run, the mortgage price jumped from $ 1 to around $ 2,000 before dropping back down to $ 100 in value. This happened because Cronje deactivated the Keep3r smart contract again.


Previous Project from Andre Cronje, Eminence Finance


This Keep3r Network project was secretly released by Andre Cronje. This is due to the controversy surrounding Eminence Finance some time ago.


The reason is, the project, which has not even been released to the public, is being hunted by DeFi activists who want profit. Unfortunately, the smart contracts, which were still vulnerable, were infiltrated by hackers and managed to take users' funds.


As a result of this incident, the Yearn Finance (YFI) token dropped dramatically along with the Total Value Locked (TVL) in the protocol.


The Yearn Finance community also published a manifesto related to system decentralization. However, Andre Cronje is not one of the six developers who signed it.

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