Understanding Keep3r and its Role in the Yearn Ecosystem - Decentralise #51
Keepers, Jobs, and Connected DeFi
What is Keep3r Network?
Keep3r was unveiled by Andre Cronje in October.
Keep3r is a network designed to facilitate coordination between protocols and developers, building a collaborative ecosystem to get things done.
The system works with Keepers and Jobs.
Jobs are smart contracts needing an external action, and Keepers are individuals or teams that complete jobs.
Job creators can set conditions Keepers must meet in order to be eligible, including jobs completed, token holdings, age, or earned funds.
Jobs can either go through the governance process to be approved, or be included directly via adding liquidity to an approved pair, e.g. KP3R/ETH.
Jobs can pay Keepers in ETH, tokens, or via KP3R liquidity.
Andre recently announced that Keeper would be scaling with ChainLink, taking advantage of the protocol’s security and reliability.
You can track Keeper’s growth with this dashboard from ZASHTONETH
If you want to better understand the network conceptually you can check out this conversation between Andre, Synthetix’s Kain Warwick, Anton Jurisevic and Jackson Chan:
Keep3r and the Yearn Finance Ecosystem
Since Keep3r’s initial announcement Yearn Finance has expanded, building strong developer connections between a number of different protocols offering a broad range of financial services.
Keep3r was an early indicator of Yearn Finance’s outward-looking new direction, connecting protocols and skilled developers.
While DeFi is highly competitive, collaboration is Yearn’s killer advantage. By reducing the friction between platforms Yearn is managing to build a powerful ecosystem that attracts and retains capital.
If you’re still unclear on what exactly Yearn are trying to achieve with their “mergers” then I recommend this thread and article from Messari’s Ryan Watkins.
Ryan’s Tl;dr:
“In short while Yearn, the protocol, is a coordination mechanism for efficient capital allocation, Yearn, the ecosystem, aims to be a conglomerate of symbiotic financial protocols that increase the capital efficiency of DeFi as a whole.”
Conclusion
Keep3r has already shown its value in this connected ecosystem and reaches even further afield.
So far there are 822 Keepers and Jobs have been created by a number of protocols including Hegic, Aave, Synthetix, Yearn, Cream, Sushiswap and Curve.
Keep an eye out for the updates in the near future, the best place to subscribe is Andre’s blog.
You can get involved with Keep3r governance here or join the Keep3r channel on the Yearn Discord.
