Yearn Finance (YFI) protocol founder Andre Cronje’s new crypto project skyrocketed hours after its launch on the decentralized trading platform Uniswap.
After initially trading for just over $1.00 on Uniswap, the digital asset quickly burst to a high of $381.27, surging by 31,600% as DeFi traders bet on the project from the popular developer.
The price of KP3R has since retraced. At time of writing, the token is worth $231.85, according to data from Coingecko.
Keep3r Network is a marketplace for technical jobs that’s designed to utilize the token KP3R as a reward for job completion.
“Keep3r Network is a decentralized keeper network for projects that need external devops and for external teams to find keeper jobs…
A Keeper is the term used to refer to an external person and/or team that executes a job. This can be as simplistic as calling a transaction, or as complex as requiring extensive off-chain logic…
You can specify a minimum bond, minimum jobs completed, and minimum Keeper age required to execute this function. Based on these three limits you can define your own trust ratio on these keepers.”
Amid surging interest in the digital asset, Ethhub founder Anthony Sassano shared a chart showing how the price of KP3R jumped in minutes.
As investors pour millions into the project, Sassano warns traders to be cautious.
Featured Image: Shutterstock/GrandeDuc