DeFi Yield Farming

KeeperDAO: an on-chain liquidity underwriter for DeFi

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KeeperDAO is a DeFi project that launched in 2020 and immediately caught the interest of investors, as its goal is to provide some extra security to decentralized finance, a world that is growing day by day. The project made its first appearance in crypto media back in the summer of last year, thanks to a major investment of about a million dollars back when it didn’t have its own token yet. A few months later KeeperDAO launched Rook, an erc20 token that has been trending for weeks on DexTools, CoinGecko, CoinMarketCap and so on. In short, a well-researched product that is finding positive consensus everywhere. 

But what exactly is KeeperDao?

KeeperDAO is a mining pool for Keepers (liquidity providers). Using game theory as a basis for cooperation between users, KeeperDAO provides the decentralized finance market with an efficient mechanism for large-scale arbitrage and settlement transactions as well as all DeFi protocols. At the moment, it seems that KeeperDao’s treasury has well exceeded $8.5 million, a very high figure for such a young project. Most of this liquidity comes from renBTC (bitcoin tokenized on ethereum) and wETH. 

During periods of high volatility, the KeeperDAO project allows users to earn higher profits compared to their deposits in lending activities on traditional DeFi platforms (example: MakerDAO). Whereas in the absence of volatility, users’ funds are supposed to be channelled to decentralized finance platforms.

Needless to say, in order to manage user funds, KeeperDAO needs to invest heavily in its own security. For this reason, the project relies on crypto security companies such as QuantStamp, Samczsun and PeckShield. There are already several AUDITS in place, though all new releases are regularly rechecked to avoid security holes. Whenever there’s the name Quantstamp among the audits, in 99.99% of cases you can rely on the project at hand as this company is one of the best choices within the new cryptocurrency industry.

The $ROOK token

As mentioned above, in November 2020 KeeperDAO launched the ROOK token, a token that since the early days has been performing very well thanks to the hype and a project that is already up and running. The lowest price seen on CoinGecko is $15.61, while the highest price at the moment turns out to be $806 (on November 2nd, 2020). At the moment the price is far from both ATL and ATH, as it is around $135-140. Naturally, one has to take into consideration the price of Bitcoin which is rising dramatically, holding back the growth of almost all altcoins in circulation, especially those belonging to the decentralized finance niche (where money usually comes in when Bitcoin has a stable price for several weeks). 

ROOK’s MAX supply is 1 million units, while the circulating supply is currently less than 300 thousand units. This is enough to understand that the current market cap is still low (about 38M USD) and that the fully diluted market cap (140M USD) could grow dramatically if large sums enter the protocol. To trade the Rook token you can use Uniswap, Bilaxy, Gate.io and Hotbit. We recommend Uniswap, even if Fees have been very high in recent days, most likely due to the heavy use of the Ethereum network. 

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