The token recently launched by Yearn Finance founder André Cronier rose in the hours after its launch as the number of degraded farmers increased.
A new token called KP3R is dedicated to Cronje’s latest project called Keep3r Network, which is a decentralized maintenance platform based on smart contracts.
Hours after the token was launched, degenerate merchants and farmers imitated it, leading to a rise in prices, topping $ 180 two hours earlier, according to Uniswap.info.
He started trading on Uniswap at $ 10 per token, but quickly gained strength and grew almost 2000% in a matter of hours. According to Coingecko, the market value of the new token is already $ 35 million.
At the time of writing, the KP3R token was trading at $ 175, which is a huge profit since its launch, although investors should note that this is a very speculative game that could lead to a dump, as has happened with several new token launches . . This year.
The move was celebrated by many members of the crypto community, including Ethhub founder Anthony Sasano.
Some believe that Cronier’s quick departure could bring him huge profits, but he has repeatedly claimed that his intentions are more constructive, having previously stated: “I do not build for speculators”.
“I build for developers. My main goal is to create tools that allow other developers to use / inherit the templates that I develop and easily build products from them.”
With Keep3r Network v1 contracts released a few hours ago, the project has already been launched. It is designed to bring in crypto projects with technical experts. The concept includes “managers”, which means outsiders and / or teams performing work, and “vacancies”, which are used to denote smart contracts created to force an external entity to do something.
The network will work with new KP3R tokens, which will be issued as a reward for completing the work.
It was largely secretly designed to prevent a recurrence of the Eminence error, resulting in a $ 15 million loss in funds when faltering farmers prematurely injected capital into pilot EMN contracts that were later broken.