Updated on May 7, 2022, UTC
Andre Cronje left the project on April 3rd, 2022.
The project is continued by the other team members.
Contents
- 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 is a fair launch project of Andre Cronje, founder of the famous Yearn Finance.
KP3R governance four projects (Options Liquidity Mining, v3 incentives, Fixed Forex, Keep3r v2).
How to learn KP3R from official sources?
Currently not much info but could find official website, twitter and one project (Fixed Forex) website ( and docs), Andre’s medium post(Keep3r consolidation and expansion, vKP3R 101).
What are KP3R, vKP3R, rKP3R, oKP3R?
KP3R: the native token of the project, could be locked for vKP3R;
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?
The token KP3R is on Fantom.
#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?
By locking KP3R on fixedforex.fi, you get vKP3R. vKP3R gives you the right
- to govern the protocol (aka you can vote with it. Governance vote does not cost gas.)
- to share protocol fees & rKP3R rewards.
By bonding, you can become a keeper at keep3r.network. 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 ?
Vesting/locking APR:
Farming APR:
How to check my KP3R vested/vKP3R balance/expiration time?
How & how much does the protocol earn.
Protocol earnings.
There are several sources of earnings generated by the protocol.
Soon there will be trading fees.
How to redeem rKP3R
Assume you have 1 rKP3R and price of KP3R is $1000.
- Make sure you have 900 USDC in your wallet.
- Go to FixedForex.fi/options, claim 1 rKP3R for oKP3R.
- Redeem oKP3R for 1 KP3R. 900 USDC is automatically transferred out from your wallet.
What are ib* assets?
ib* assets refer to ibEUR, ibGBP, ibJPY, ibCHF, ibAUD, ibKRW, each pegging corresponding fiat.
How to trade/get ib* assets?
Option 1: ibAMM (What is ibAMM and how does it work?)
Go to FixedForex.fi and click “swap”
You can swap from $MIM to ib* assets in fixed rate.
Option 2: Sushiswap
Option 3: Curve Finance
Option 4: Ovex.io
Go to Ovex.io and trade between *ib and USDT/ZAR.
Option 5: Borrow from Iron Bank
- Go to Iron Bank, and deposit a supported asset.
- 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?
Here is a dedicated article explaining FixedForex.
How does Options Liquidity Mining work?
Options LM earns 1% of txn fees from options exercised. It is a tool for other protocols, not DeFi users to use.
How does v3 incentives work?
How does Keep3rv2 work?
For deeper research, read “What are Keepers & why they are a critical part of blockchain infrastructure?”
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)
Earn the protocol fees by buying KP3R and locking for a period between 1 week and 4 years here.
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?
Not necessarily. The fees are distributed proportionally according to your vKP3R holdings. To get more vKP3R, you either lock more KP3R or lock for a longer period of time.
Why is my vKP3R decreasing?
After locking, you vKP3R decreases to 0 upon expiration linearly. After expiration you can get back the KP3R you locked. (If you locked 10, then you get back 10. No matter how long you locked.)
Do you mean I get back 0 KP3R after expiration?
No, you get back exactly what you locked. It is vKP3R decreasing while KP3R stays the same. vKP3R represents your voting power and fee (+ reward) distribution share.
Will the locked KP3R be partially unlocked before expiration?
No.
Can I extend locking time later?
Yes. In the same UI. Several months after locking, you could extend it by months to maximize your fee distribution.
Won’t it cost too much gas to extend?
Extending every 4~6 months shouldn’t affect your earnings much. Extending 2~3 times a year should cost sub $200 based on current network condition.(40 Gwei)
Can I increase locking amount later if I bought more?
Yes. In the same UI.
When will be my first payment after locking?
Snapshot every Thursday. rKP3R reward every Thursday. ibEUR fee distribution every two weeks on Thursday.
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?
ibEUR & rKP3R.
Do I have to claim bi-weekly?
No. You can claim reward whenever you like ( not necessarily bi-weekly). That means you can let it accumulate. And claim when you feel comfortable with the gas.
Do I need to vote to enjoy the protocol fees?
No.
What does voting mean?
Voting works similar to Curve gauge voting. It decides the % of rKP3R rewarded to each gauge of FixedForex, while total rewarded rKP3R is fixed.
How to farm if I want it simple, time saving, gas saving?
- You have any token (ib*, ETH, WBTC, DAI, USDC, USDT or almost any token) in your wallet.
- Go to Yearn.finance
- Find the ib* vaults you want to deposit to.
- Deposit any token to the vaults.
- You have started earning on ib*, compounded.
How to farm? (if I want to do it by myself)
Three steps: Borrow, deposit, stake.
Borrow
Borrow ib* assets (ibEUR, ibGBP, ibJPY, ibCHF, ibAUD, ibKRW) from Iron Bank.
(3 UIs for Iron Bank, https://fixedforex.fi/ && https://yearn.fi/lend && https://yearn.finance/#/ironbank).
Deposit
Deposit(But don’t stake if you want to stake somewhere else) the borrowed assets here.
Stake
Option 1: Deposit and forget method
To save gas & time, let Yearn.finance 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 http://FixedForex.fi 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 OVEX.io, an exchange.
- Coinbase listing.
Where could I discuss KP3R
Official Telegram & Discord : Find it on official website. (No price talk, otherwise would be banned.)
Unofficial: Telegram (Price talk allowed.)
