Andre Cronje starts another stealth project

The creator of Yearn Finance, Andre Cronje has quietly published his third protocol called Keep3r Network on GitHub since August 19th.

Despite the lack of an official release announcement and documentation from Keep3r that the protocol is in beta, Over-excited investors rushed to invest in the project again, many of whom have already suffered losses.

Keep3r is a decentralized marketplace for technical workplaces supported by its native token KPR. The platform aims to provide access to crypto projects from work to skilled work and technology.

Andre Cronje starts another stealth project
Andre Cronje starts another stealth project

Documentation of Keep3r cites tasks as “simple as invoking a transaction or as complex as requiring extensive logic out of the chain” as examples of the types of jobs the platform supports..

The new project was seen by people following Cronje’s GitHub or Ethereum instructions, with Cronje interacting directly with his personal wallet code.

A handful of opportunistic traders and their robots quickly injected money into the platform and started trading the token on Uniswap.This caused the price to jump from $ 1 to $ 2,000 before the code fell back below $ 100 when Cronje redistributed the Keep3r contracts multiple times while testing the code.

Fortunately, KPR only attracted a few thousand dollars in volume, unlike Cronje’s most recent experiment, Eminence, which completely drained of $ 15 million while Cronje slept, unaware that his followers were rushing to invest in the protocol. The hacker transferred half the money to Cronje, who woke to a barrage of death threats before distributing the stolen money to Eminence investors.

The incident resulted in Cronje staying away from social media for almost two weeks The developer promised to hold back to move on.

Yearn Finance has also seen a decline lately. The total project value in storage (TVL) decreased 50% from $ 900 million at that time last month.. Yearn is currently the ninth largest DeFi protocol with a TVL of $ 451 million.

Yearn yesterday published a manifesto articulating its vision of decentralizationMost importantly, Cronje was not one of the six developers who signed the document

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