token from the founder of Yearn Finance pumping 2000%

• The Ethereum-based protocol’s Keep3r Network token emerges 2,000% in hours and more than 4,000% in 24 hours.
• Andre Cronje warns users that the Keep3r protocol is still being tested.

Andre Cronje may be one of the developers with the most detractors and followers of the DeFi industry in Ethereum. His new product called Keep3r Network was launched recently. As in previous Cronje projects, users rushed to purchase the token without paying much attention to the legitimacy of the project or its development stage.

Uniswap data shows that after launch, the KP3R token was trading at around $ 10. Within hours, the price jumped to a 2,000% profit. Currently, KP3R is trading at $ 317. This represents an increase of over 4,000%. On the decentralized exchange, the liquidity pool for the trading pair KP3R / ETH has liquidity of $ 13 million and a trading volume of $ 157,000 on the last day.

Source: https://info.uniswap.org/token/0x1ceb5cb57c4d4e2b2433641b95dd330a33185a44

Keep3r Network is a decentralized protocol for “projects that need external developers and for external teams that need to find work,” according to its GitHub website. The protocol is made up of the Keepers, the people who do a job. The complexity of the job can vary to levels that require a highly skilled individual.

On the other hand, the network is formed by “Jobs” which are smart contracts created by an external entity or individual trying to complete a task. In this way, Keep3r operates as a decentralized freelance marketplace driven by the KP3R token. The protocol was realized in 95% with the Solidity programming language and in 4.1% with the JavaScript programming language:

The purpose of the Keep3r network is not to manage these jobs alone, but to allow contracts to register as custodian jobs and custodians to register as available to perform the jobs. It is up to the individual holder to set up their own devops and infrastructure and create their own rules based on the transactions they deem profitable.

Cronje issues alerts to users

Cronje said the protocol is still under development and testing. Therefore, he warned users not to put “funds (in the protocol) they are not willing to lose”. For now the protocol does not appear to have any critical bugs, according to updates Cronje has made. The project was supposed to be launched with a variety of offers, but at the time of publication it has 0 proposals on its website.

The creator of Keep3r is also known for creating Yearn Finance. A decentralized protocol with the aim of facilitating “yield farming” for all users. Cronje received criticism for his controversial working method which he called “Test in prod”. This implies the launch of protocols on the Ethereum mainnet which are still under development.

In recent months, at least one of Cronje’s ongoing projects has received compromised funds. The developer has warned users not to leverage its protocols until completion, but hasn’t been able to stop some users from participating who expect to make quick profits. Cronje is currently facing potential lawsuits for these developments.