As a collaborative network between project parties and external entities, Keep3r is not for ordinary users, it mainly serves DApp developers.
Original title: “What is Keep3r? 》
Written by: Blue Fox Notes
Keep3r has had some performance these days, which has attracted the attention of the encryption community. What is Keep3r? It is a new work by Andre Cronje. It is a decentralized Keeper task network. On the one hand, some smart contract projects require external entities to help solve the tasks of devops. On the other hand, some external entities (individuals or teams) can get paid by completing the corresponding tasks. Keep3r builds a decentralized task service network for this group of people.
Keeper refers to an external person or team that performs work. These tasks can be simple (such as invoking transactions) or complex (requiring off-chain logic). Keep3r is not a task service platform in the strict sense. Keep3r itself does not manage these tasks. It allows the project party (contract) to register tasks, and the keeper also needs to register, so that both parties can choose each other. In this process, the keeper sets up its devops and infrastructure, and can create rules (based on profitable transactions).
According to Andre Cronje, the current core of Keep3r has to solve the problem that smart contracts require external triggers. Some contracts require external entities (robots, scripts, EOA) to submit transactions to trigger responses. Keep3r tries to solve this problem. It uses a decentralized way to build a collaborative system, trying to help these projects find keeper to trigger the contract externally to keep running. From this perspective, Keep3r is not a project for ordinary users, it is mainly for dApp developers.
So, as a collaborative network between project parties and external entities, how does keep3r organize the two in a decentralized manner? The project party needs to submit its contract to the Keep3r network. The contract will be reviewed and approved by the Keeper bound to the KP3R deposit. After that, the keeper can perform tasks on the market.
Tasks in Keep3r
In keep3r, the current task mainly refers to the smart contract expecting external personnel to perform an operation. At the same time, the project team hopes that the execution of the keeper is well-intentioned, not malicious, especially the smart contract may involve financial risks.
In Keep3r, all systems that need external execution can become tasks. Keep3r does not define or limit the scope of tasks performed. It mainly provides an incentive mechanism between the keeper and the contract.
The current task is mainly that some contracts require external entities to submit transactions to trigger responses. For example, call update() on the oracle machine to update its basic value; call Harvest() on the aggregate mining protocol to implement the fund exchange strategy; call vote() on behalf of the user using the permission/approval mechanism on the governance contract; decentralized transaction Trigger limit orders when the medium price matches; trigger liquidation in the debt-based system; in layer2, the external system submits transactions in batches on behalf of users. Currently, each project is carried out independently in order to solve these problems. Such as Aave’s liquidation, Synthetix’s cache update, YFI’s mining, etc. This is also the main task that Andrew Cronje conceived when building Keep3r.
The tasks in Keep3r need to be registered. Currently, there are two ways to create tasks:
Register tasks through governance
Submit proposals through governance to register tasks. If governance is passed, no further measures are required.
Register tasks through the contract interface
The user registers the task by calling addLiquidityToJob (address, uint) on the keep3r contract. Calling addLiquidityToJob (address, uint) will create a waiting governance vote. Through this address, users can submit new task applications every 14 days.
In addition, the task also has a security level. The project party chooses the Keeper according to its own security needs, such as the amount of deposit required by the keeper, the completion of the task, the length of time to become the Keeper, and the amount of related tokens that the keeper pledges. At the same time, for contracts that only need to be executed without risk, the default isKeeper (address) call can be used.
Keeper in Keep3r
Smart contracts will provide tasks, and the keeper can perform contract tasks. In order to become a keeper, you can call bond (unit) on the Keep3r contract. If the user does not have KP3R tokens, you can use bond (0) to join. There is a three-day delay for bonding, and Activate () can be called after three days.
Keep3r’s token economic mechanism
KP3R is the token of the Keep3r network, but it is not used as a rigid payment medium for transactions. Because in Keep3r, the project party can use ETH or project tokens to pay to the keeper. In order to motivate Keeper to complete the task, the project party needs to reward Keeper. Currently, the project party can choose three ways to reward the keeper:
- Pay ETH directly
- Direct payment of tokens
- Indirect payment to Keeper by providing liquidity
Of course, these tasks can also be rewarded with KP3R tokens. By becoming a liquidity provider, you can obtain Credit, and these credit lines can be used to obtain the corresponding amount of KP3R tokens. Keeper will be provided with (at most) gasUsed * fastGasPrice + premium% each time the task is executed, which will be deducted from the credit line of the project party (not deducted from liquidity). The project party can add and remove all liquidity at any time.
If KP3R is not used as a payment token, what use is it for?
Margin
Because the external triggering work of some contracts is related to financial risks, the external keeper performing the triggering task needs a minimum margin to be eligible to perform the related tasks. And this deposit uses KP3R tokens. In other words, the Keeper who wants to perform these tasks must deposit the corresponding minimum amount of KP3R deposit.
Governance
Keep3r network governance is managed by Keeper bound with KP3R deposit.
Capture transaction fees
Although transactions are not necessarily paid through KP3R, all transactions still incur fees. For any non-KP3R transactions (transactions paid in ETH or tokens), the repository receives a 0.3% fee.
In summary, KP3R can be used for governance, can be used as a margin for obtaining high-risk tasks, and can capture transaction costs. In addition, liquidity providers can pay Keeper KP3R credits.
Governance
According to the design of Andre Cronje, the main tasks of Keep3r governance are:
- Add a liquidity pool that accepts task credit
- Approve/Cancel tasks
- About disputes / reduction / resolution / withdrawal of Keeper
- KP3R bonus settings
Current Progress
The repository is worth 9.8 million U.S. dollars, and the use and distribution of repository funds will be determined by governance voting
$384,197 in expenses earned in the last 24 hours
UniswapV2Oraclefeeds has enough data points available for Keep3rV1 Helper feeds
Tasks currently under review: maintenance of Hegic Pool; liquidation of Aave; Synthetix (multiple tasks); Year (multiple tasks); liquidation of Cream Finance.
Source link: mp.weixin.qq.com
