Victor Ugochukwu · Dec 14, 2020 . 5min read
Andre Cronje’s Keep3r Network debuts its beta on mainnet
To solve the complexity in managing DeFi protocols' smart contracts, Andre Cronje has conceived a decentralized coordination ecosystem, Keep3r Network.
By Victor Ugochukwu · Oct 30, 2020 . 6min read
Ace smart contract developer and inventor of the yearn finance project Andre Cronje announces the launch of Keep3r Network’s beta on mainnet. Cronje made this announcement through his lesser interactive medium; his blog is putting out a clear disclaimer that the project contract is still undergoing an audit.
As typical of Cronje, he constantly experiments with smart contracts looking for how to make them more efficient and easy to use. Usually, smart contracts require that anyone interacting with them in their naked form to be skilled in Solidity programming language. And the more complex a system of smart contracts become, the more upkeep it requires. Upkeep here means an external like a developer or bot to keep interacting with them.
Clearly, Andre Cronje sees this as a problem and thought of a solution which he calls Keep3r Network. To solve this, Cronje set off to build a somewhat decentralized coordination ecosystem for projects to figure out Keepers that will help with their upkeep.
Therefore, Projects wishing Keepers to perform duties will need to submit their contract to Keep3r Network. After which a bonded Keeper may review and approve it. Once that happens, Keepers can then begin fulfilling the required work.
Keep3r Network has its native token – KPR. Although, project owners using the network do not have to pay Keepers in KPR token compulsorily. They can opt to either pay in ETH or project token instead. However, for some project with considerable financial risk, Keep3r Network will mandate a Keeper taking up that job to have skin in the game. Cronje names that “minimum financial bond” and the Keeper “bonded Keeper”. And as a native DeFi protocol, bonded Keepers help to maintain the Keep3r Network through governance.
Some other use cases of Keep3r Network available now on beta
If there is anything anyone can expect from DeFi space is innovation. Even with Keep3r Network serving the technical folks knowledgeable with smart contract intricacies, it also caters for regular folks. These are folks who have day to day need for smart contract cryptocurrency wallets. Andre Cronje has designed Keep3r Network to support a “gasless” wallet he calls Metawallet.
MetaWallet, a smart contract that functions as a regular smart wallet. Anyone can transfer ETH, send tokens, approve contracts, or execute arbitrary contract call data to other contracts. All these can be done without ever needing to submit such transactions or incurring gas fees.
On the other hand, innovations like Metawallet layered on top of Keep3r helps with cheap transactions while decongesting ETH mainchain.
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