KP3R FAQ (unofficial)

Updated on Jan 12, 2022, UTC


  • Introduction (KP3R, vKP3R, rKP3R, oKP3R, Keep3r, Fixed Forex)
  • Official resources link
  • How to redeem rKP3R, will it expire?
  • Why is my vKP3R decreasing?
  • What is bonding? What is locking/vesting?
  • What are ib* assets?
  • How to trade/get ib* assets?
  • How does each component of Keep3r work?
  • What did Andre say about Keep3r?
  • How to lock/vest? When is the payment?
  • How to farm? Simple way, official way, and high APR way?
  • Vesting/locking APR
  • Farming APR
  • How to join Discord/ Telegram (official and unofficial)

What is KP3R?

KP3R governance four projects (Options Liquidity Mining, v3 incentives, Fixed Forex, Keep3r v2).

How to learn KP3R from official sources?

A collection of important links here:

What are KP3R, vKP3R, rKP3R, oKP3R?

vKP3R: lock KP3R to get vKP3R. vKP3R holders share 100% protocol fees + rKP3R rewards; fees + rewards are distributed ppropotional to vKP3R holdings; vKP3R holding decays linearly over time, reaching 0 upon expiration.

rKP3R: rewards for farmers & vKP3R holders, redeemable for oKP3R (and then exercised for KP3R 1:1). Never expires, could HODL;

oKP3R: redeemed from rKP3R. Could be exercised for KP3R with 10% discount (Need to have USDC for the striking price. e.g. if $KP3R is $1000, you need $900 USDC in wallet before exercising the option), expires in 24 hours.

Is KP3R on other L1/L2s other than Ethereum?

#Keep3rv2 will soon be on Fantom and Optimism

#FixedForex will be on Fantom soon

What is locking/vesting? What is bonding? What can I do with my KP3R?

  1. to govern the protocol (aka you can vote with it. Governance vote does not cost gas.)
  2. to share protocol fees & rKP3R rewards.

By bonding, you can become a keeper at A keeper earns fees by doing jobs. This is mainly for tech savvy people in Keep3r v1. But will be much easier in Keep3r v2.

If you don’t understand what a keeper or job means, you probably should refrain from bonding.

Bonding does not give you the right to vote or share fees. KP3R acts as utility token when bonding.

How much do I earn if I lock/farm ?

Farming APR

How to check my KP3R vested/vKP3R balance/expiration time?

How & how much does the protocol earn.

There are several sources of earnings generated by the protocol.

Soon there will be trading fees.

How to redeem rKP3R

  1. Make sure you have 900 USDC in your wallet.
  2. Go to, claim 1 rKP3R for oKP3R.
  3. Redeem oKP3R for 1 KP3R. 900 USDC is automaticlly transferred out from your wallet.

What are ib* assets?

How to trade/get ib* assets?

Go to and click “swap”

You can swap from $MIM to ib* assets in fixed rate.

Option 2: Sushiswap







Option 3: Curve Finance








Option 4:

Go to and trade between *ib and USDT/ZAR.

Option 5: Borrow from Iron Bank

  1. Go to Iron Bank, and deposit a supported asset.
  2. Borrow ib*.

P.S. LTV means how much you can borrow. E.g. you deposited $10k of $ETH and the LTV of $ETH is 85%. You can borrow $8500 of any assets.

But please note, it is better to borrow less than 85% to avoid being liquidated. The less you borrow, the safer you are.

How does Fixed Forex work?

Basic concepts

How does it work and what’s the difference from MakerDAO?

How does Options Liquidity Mining work?

How does v3 incentives work?

How does Keep3rv2 work?

What did Andre Cronje say about KP3R?

KP3R is one of his two full time projects.

Andre hadn’t been so excited since the launching of $YFI.

Fixed Forex (one project of KP3R) is gonna be redeemable for fiat.

There may be (though not promised) more expansions (besides #Keep3rv2, #OptionsLM, #FixedForex)

KP3R is Maker+Sushi+Aave.

There may be more expansions (though not promised) besides #Keep3rv2, #OptionsLM & #FixedForex

“the project only just started

How to earn protocol fees?

Buying (and locking)

10 KP3R locking for :

4 years, you get 10 vKP3R;

2 years, you get 5 vKP3R;

1 year, you get 2.5 vKP3R etc.

Your vKP3R holdings decrease linearly within time, to 0 upon expiration. You get back your 10 KP3R at expiration.

Should I vest/lock if I had only 3 KP3R?

P.S. APR is dynamic. Please calculate using the latest(in the thread above) or average APR(calculate by yourself).

Do I get more fee if I lock more KP3R?

Why is my vKP3R decreasing?

Do you mean I get back 0 KP3R after expiration?

Will the locked KP3R be partially unlocked before expiration?

Can I extend locking time later?

Won’t it cost too much gas to extend?

Can I increase locking amount later if I bought more?

When will be my first payment after locking?

Depending on your locking time, the time before first payment can be classified as fours cases as follows.

(UTC+2, since Andre is there.)

What token(s) am I rewarded by vesting/locking?

Do I have to claim bi-weekly?

Do I need to vote to enjoy the protocol fees?

What does voting mean?

How to farm if I want it simple, time saving, gas saving?

  1. You have any token (ib*, ETH, WBTC, DAI, USDC, USDT or almost any token) in your wallet.
  2. Go to
  3. Find the ib* vaults you want to deposit to.
  4. Deposit any token to the vaults.
  5. You have started earning on ib*, compounded.
Yearn ib* vaults

How to farm? (if I want to do it by myself)


(3 UIs for Iron Bank, && &&



To save gas & time, let to help. Deposit in Yearn. After depositing, you can forget it. Yearn will do the work for you, saving gas and time for you.

Option 2: Official. Need to claim rewards by yourself, thus costing gas and time.

Stake here.

Option 3: Higher APY.Need to claim rewards by yourself, thus costing gas and time.

Stake in Convex Finance.

What can we expect for KP3R (unofficial)

  • Keep3r v2 launching
  • Redeemable stablecoins (forex)
  • v3 incentives launching
  • New website, an imformative one (current one offers nearly no useful info)
  • Documentation ( so people can understand $KP3R)
  • Discord server, allowing people to discuss (update Nov 17,2021: official discord server created, can find it on official website)
  • Yearn v3 launching with Iron Bank integrated(so more people will use since it is based on Iron Bank)
  • Multichain
  • Marketing (currently 0)
  • Binance updating the very much outdated info of $KP3R (so that people don’t undervalue $KP3R)
  • Binance KP3R/USDT KP3R/BTC pair. (Update:Nov 12,2021: USDT pair added)
  • FTX — Cryptocurrency Derivatives Exchange listing. Already partnered with one of FTX’s portofolio companies named, an exchange.
  • Coinbase listing.

Where could I discuss KP3R

Unofficial: Telegram (Price talk allowed.)