Finance founder Andre Cronje began testing one of his latest projects.
This project was Keep3r Network, a decentralized marketplace where projects can post jobs for users to take in exchange for a fee paid in a new token, KPR. The idea is to outsource tasks, which often means interactions with smart contracts, to users who have time on their hands.
While Cronje made it clear that it was just an experiment, investors bought in any way, with some siphoning in hundreds of thousands of dollars in hopes of catching the "Next YFI." Cronje launched YFI in July, which subsequently surged 1,000,000 percent in the two months that followed.
These coins quickly became worthless as Cronje asserted that this was just an internal test for himself.
Over a week later, on Oct. 28, the developer finally rolled out a beta for the Keep3r Network, along with the official token, also named KPR. While still in a beta testing phase and no audits have been completed, KPR surged massively.
Re Cronje's new Ethereum token surges massively in its first 12 hours.
Early on the morning of Oct. 28, Cronje deployed new contracts for the Keep3r Network.
In the span of 12 hours, KPR surged from $1.40 to highs of $200, for a return of just under 15,000 percent.
It is likely that more experiments and projects from Cronje are to come.
Finance developer Telegram group in which he states that he has a backlog of nine projects to work on, all of which involve DeFi in some way.
DeFi dev Andre Cronje's new Ethereum project surged 15,000% in 12 hours
Published on Oct 30, 2020
by Cryptoslate | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.