> ## Content Index
> Fetch the complete content index at: https://dexplain.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# DeFi Farmers FOMO into Keep3r Network Launch
- URL: https://dexplain.com/defi-farmers-fomo-into-keep3r-network-launch/
- Published: 2020-11-04T17:34:00.000Z
- Updated: 2021-12-02T17:35:04.000Z
- Description: What is Keep3r Network? Andre Cronje's new project launch is seeing DeFi traders FOMO into the KP3R governance token.
- Author: wizardfromspace
- Tags: KP3R, defi, Ethereum, dApps, Smart Contracts

[Keep3r Network Token](https://info.uniswap.org/token/0x1ceb5cb57c4d4e2b2433641b95dd330a33185a44?ref=dexplain.com) pumps over 3,000% after DeFi farmers jumped into [Andre Cronje’s](https://twitter.com/AndreCronjeTech?ref=dexplain.com) new project heavily. It appears the [Yearn Finance](https://dexplain.com/tag/yearn-finance) creator is seen as a holy grail when it comes to DeFi development. Because despite the project being in beta with no liquidity lock traders are accumulating KP3R as fast as they can.

## KP3R Token Launch

A decentralized job platform called Keep3r Network is the latest project launched by the [YFI token](https://dexplain.com/yearn-finance-vaults-explained/) founder on October 28th. As expected, DeFi enthusiasts on [Ethereum](https://dexplain.com/tag/ethereum) were quickly seen buying up as many KP3R tokens as they could. The token was selling on Uniswap at around $10 on the launch, within six hours it hit $150 and a few hours later KP3R was trading at $180\. Buying pressure continued for a steady 24 hours reaching [an all-time high of $380](https://www.coingecko.com/en/coins/keep3rv1?ref=dexplain.com) before the price saw a pullback. The quick price pump seems to have come off the back of Andre Cronje’s increased fame in the crypto community. Because this time there was more than just [DeFi farmers](https://dexplain.com/tag/yield-farming) entering the fray, as well known [BTC](https://dexplain.com/tag/bitcoin) traders discussed the action on crypto Twitter.

> $KP3R  
>  
> 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](https://t.co/2Ly8ckCg4A?ref=dexplain.com)
> 
> — Rager 📈 (@Rager) [October 28, 2020](https://twitter.com/Rager/status/1321496558899220480?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com)

As of the time of writing, KP3R has gone through a correction, trading at around $160.

## What is Keep3r Network?

[Keep3r Network](https://keep3r.network/?ref=dexplain.com) is a sort of freelancing platform powered by smart contracts, where KP3R tokens will be issued as rewards for completing jobs. The **Keepers** refer to external actors, people, or blockchain teams that will complete work. And then **Jobs** which refers to smart contracts the platform will set up to find the external actors to complete the work.

![](https://dexplain.com/content/images/2021/12/keeper.webp)

Cronje does warn users that the project is **in beta and bugs may exist** despite the code being audited. However, this does not seem to have stopped traders speculating on the price. All reasoning for trading tokens on [Uniswap](https://dexplain.com/tag/uniswap) safely seems to have been put aside. For example, Cronje’s deployer address controls **over 98% of the KP3R Uni LP tokens**.

> Yearn Deployer owns 98.17% of Uni LP tokens (ETH/Keep3r pair). If he exits now, he would get: 7468 ETH and 20157 Keep3r which he could sell for 4360 ETH. Total profit = 7468+4360-700= 11128 ETH [https://t.co/9DfpU8FZ6b](https://t.co/9DfpU8FZ6b?ref=dexplain.com)
> 
> — Joe LhotsΞ (4,4) (@JozoJesko) [October 28, 2020](https://twitter.com/JozoJesko/status/1321440282827755523?ref%5Fsrc=twsrc%5Etfw&ref=dexplain.com)

Any other [DeFi project](https://dexplain.com/tag/defi) that launched in a similar fashion would immediately face countless claims of an upcoming rug pull. Luckily for Cronje being **DeFi’s golden developer** comes with certain privileges!