- Yearn Finance’s Andre Cronje recently launched a new DeFi platform, dubbed Keep3r Network.
- The platform token has surged by over 3000% after launch.
Andre Cronje, the famous developer of Yearn Finance, has unarguably won so much trust in the decentralized finance (DeFi) space. This is evident as the native token (KP3R) of Cronje’s recent project, Keep3r Network, surged significantly shortly after it launched. DeFi investor may have been FOMOed into the project following the success of Yearn Finance, the eighth-largest protocol on DeFi Pulse.
Keep3r Network token surged by over 3000%
Current data shows that the Keep3r Network has spiked by over 3000 percent in about 24 hours after the launch. Precisely on October 28, the KP3R token was reportedly released on the leading decentralized exchange (DEX) Uniswap at the price of $10. Many investors flocked to the token, pushing up the price to about $150 after six hours of launch.
From that point, Keep3r Network token price further increased to $180 before it briefly dropped. However, at the time of writing, the token is trading at the value of $318 on CoinGecko, a crypto price tracking platform. The token has a maximum supply of 200,011, all of which are currently in circulation, according to CoinGecko.
A DeFi gig Platform
This new development from Cronje, Keep3r Network, is basically a gig-styled platform for jobs which is governed by smart contracts. The native token powers the platform. Hence, users will receive the token as rewards whenever they complete a job on the platform.
Hopefully, the token won’t face a sudden price drop, as was seen with other new decentralized finance protocols. Most investors rush to invest in new tokens only to cash out once it surges to a high price level. Meanwhile, many crypto inventors like Josh Rager felt terrible for not getting the tokens earlier, although he has been following the project for a long time.
$KP3R— Josh Rager 📈 (@Josh_Rager) October 28, 2020
This past week I stayed up all night because I thought Andre was about to launch his next coin…
Instead, he launches it at 4 a.m. my time when I’m sleeping
I missed out early but a break above $167 here could be a good sign for continuation to the upside pic.twitter.com/2Ly8ckCg4A