- Ethereum-based Keep3r Network protocol token emerges 2,000% in hours and over 4,000% in 24 hours.
- Andre Cronje warns users that the Keep3r protocol is still being audited.
Andre Cronje could be one of the developers with more detractors and followers from DeFi to Ethereum. Its new product called Keep3r Network was recently launched. As in previous Cronje projects, users rushed to buy the token without paying much attention to the legitimacy of the project or its stage of development.
Uniswap data shows that after launch, the KP3R token was trading at around $ 10. In a matter of hours, the price rose to a profit of 2,000%. Currently, KP3R is trading at $ 317. This represents an increase of over 4000%. In the decentralized exchange, the KP3R / ETH trading pair’s liquidity pool has liquidity of $ 13 million and trading volume of $ 157,000 in the last day.
Keep3r Network is a decentralized protocol for “projects that require outside developers and for outside teams that need to find work,” according to its website in GitHub. Protocol is made up of Keepers, the people who perform a job. The complexity of the job can vary to levels that require a highly skilled person.
The purpose of the Keep3r network is not to manage these tasks themselves, but to allow contracts to register as tasks for holders, and holders to register as available to perform tasks. It is up to the individual holder to set up their devops and infrastructure and to create their own rules based on the transactions they deem profitable.
Cronje issues warnings to users
Cronje said the protocol is still being developed and being verified. Therefore, he warned users not to put “funds (in the protocol) that they are not ready to lose”. At this time, the protocol does not appear to have any critical bugs, according to updates made by Cronje. The project was supposed to be launched with a variety of offers, but at the time of publication it has 0 submissions on its website.
The creator of Keep3r is also known for creating Yearn Finance. A decentralized protocol with the objective of facilitating “agricultural production” for all users. Cronje has been criticized for his controversial working method which he called “Test in prod”. This involves the launch of protocols on Ethereum’s mainnet which are still under development.
In recent months, at least one of Cronje’s ongoing projects has received funds that have been compromised. The developer has warned users not to take advantage of its protocols until they’re done, but it hasn’t been able to stop some users who are hoping to make a quick profit from participating. Cronje currently faces potential lawsuits for these developments.