What is KP3R? Because it is more for programmers than ordinary users, it is difficult for most users to understand what it is through intuitive experience. The KP3R network provides a market of jobs, where one party is the agreement to issue tasks, and the other is the trigger for the execution of the tasks. The person who performs the task is called Keeper, and the task released by the agreement is the call request of the smart contract. You can refer to the previous article "What is Keep3r?" ".
Task market
What task requests will the agreement issue?
Before understanding the task request, we need to understand that we often see "smart contracts". The "smart contract" stops after its logic execution is completed and needs to be triggered again to execute. That is to say, the so-called "smart contract" is not actually "smart" and cannot be executed automatically in many cases.
For example, after people participate in liquidity mining, after rewards are generated, these rewards will not automatically enter the user's wallet address, but need to "claim"; in Year's aggregate mining, after receiving mining token rewards, they need to be sold for exchange. In the process of mining, it has a strategy and a large amount of work needs to be triggered, and it needs to interact with smart contracts; the transaction of limit orders in Sushiswap also needs to meet the price requirements Trigger; after the option expires on hegic, it also needs to be triggered to unlock its locked funds and so on.
There are a large number of tasks on the current smart contracts that need to be triggered to execute (triggering liquidation, calling oracles, unlocking pledges, etc.). This is why there are so many tasks (jobs).
The size of these jobs directly determines the upper limit of KP3R in the future. The core of how high KP3R can reach depends on the size of the jobs market. With the development of the DeFi protocol, KP3R will have more and more tasks, and its market size will also increase. However, it is still unclear how big it is.
Keeper
There are many tasks that need to be triggered in the task market of KP3R, but can these triggered tasks be completed by the DeFi protocol itself through automated robots? Why do we need keeper? This is also related to the pursuit of the DeFi protocol. Ultimately, DeFi wants to achieve its goal of decentralization. It needs not only automation, but also decentralized automation.
Keeper can help Yearn vault users trigger claims and trigger liquidation in the currency market. There are not only one keeper in this market, but there are many. This ensures that when one keeper does not pick up the task, other keeper can accept the task.
In order to become a Keeper, they need a pledge deposit to prevent the keeper from doing evil. Some tasks may require a minimum pledge amount. The pledge deposit uses KP3R, which also creates a demand for KP3R. If the Keeper commits evil, the KP3R pledged by it will be fined. As of the time of Blue Fox's writing, the pledged KP3R reached 2758.96, valued at 1,224,178.21.
KP3R becomes the basic layer of DeFi
There are many basic layers in DeFi, such as the oracle field, and KP3R is also a basic layer. It does not serve a specific DeFi protocol, but serves the entire DeFi field.
Of course, from a lower-level perspective, KP3R can have the service of an oracle, which can help the agreement solve the problem of price feeding. At this time, the node of the oracle becomes the Keeper that performs the task.
KP3R data
jobs market
As of the writing of Blue Fox Notes, the total credits in the job market exceeded 140KP3R, of which the keeper who has earned the most revenue so far has earned 773.4942 KP3R.
Reserve funds
As of the writing of the Blue Fox Notes, the value of Keep3r's reserves reached US$15,129,533.69, including 22,194.78 KP3R, accounting for 11% of the total KP3R tokens.
Demand for KP3R
KP3R as a pledge deposit
With more and more DeFi protocols that need to trigger services, there is more and more demand for KP3R, because if you want to become a Keeper, if you want to earn fees in the job market, you first need to pledge KP3R.
As mentioned above, the current number of KP3R pledged on the keep3r network reached 2758.96, and the total value of the pledge deposit accounted for more than 1.22 million U.S. dollars, accounting for 1.37% of the total KP3R (the total number of KP3R was 200,991). The pledged KP3R deposit has a 14-day withdrawal period to ensure that Keeper will not do evil.
Provide liquidity for KP3R
The DeFi agreement party that publishes the task needs to pay a fee. The payment method can be tokens, ETH, or by providing liquidity for KP3R. For example, in Uniswap or Sushiswap, users can obtain credits by providing liquidity for KP3R/ETH, and use these credits to generate KP3R payment to the Keeper who performs the task.
Currently, there are 4802 tokens on Uniswap that provide liquidity for KP3R, accounting for approximately 2.39% of the total KP3R.
Agreement fee
When the task is paid in ETH or tokens, KP3R will charge a fee of 0.03%.