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Cryptocurrencies

Keep network

Keep Network (KEEP)

Keep Network is an incentivized platform designed to store and encrypt private data on a public blockchain. It launched its mainnet on April 27, 2020. The network utilizes off-chain containers called keeps, which enable smart contracts to interact with private data while maintaining transparency and transaction auditability. Keeps secure this data through secure multi-party computation (sMPC).

The network comprises node operators known as signers, who stake KEEP tokens to manage private data in exchange for service fees. The staking mechanism helps prevent dishonest actions and Sybil attacks. Signers are randomly selected to store data through the network's core application, the Random Beacon, ensuring data protection and system integrity.

Founded in 2017 by Matt Luongo and Corbin Pon, the Keep Network has developed several applications and tools, including the Keep Random Beacon, tBTC, Keep Token Dashboard, Keep Stats, and All the Keeps.

Keep token

KEEP is the native token of the network, offering dividends and a slashing model. It provides the Sybil resistance needed for the Keep Network to function as a censorship-resistant and permissionless system. Staked KEEP holders earn revenue by operating the beacon and participating in network activities.

keep-network background
Ticker KEEP
Category Protocol
Website https://keep.network/
Twitter @keep_project
Telegram KeepNetworkOfficial
Reddit https://www.reddit.com/r/KeepNetwork
Contract Addresses
ethereum 0x85...ecCopied!
harmony-shard-0 0x43...6dCopied!
energi 0x9c...d1Copied!

KEEP tokens can be used to secure the network and tBTC through staking, operate nodes using the Elliptic Curve Digital Signature Algorithm, run tBTC by bonding ETH, and earn fees for network contributions. The network's mainnet launched with a fixed supply of 1 billion KEEP tokens.

Token allocation

The distribution of KEEP tokens is as follows:

  • Private sale: 35%
  • Early team: 10%
  • Advisors: 5%
  • Keep SEZC: 25%
  • Staking & Protocol Incentives: 25%

Private sale

Keep conducted an industrial staker sale in two rounds: Series A in 2018 and Series B in late 2019/early 2020. Accredited investors participated via a 506(b) offering. Approximately $20 million worth of KEEP tokens were sold by November 2020, with purchasers required to support the network by staking their tokens.

Keep stakedrop

The stakedrop event started on June 8, 2020, allowing ETH holders to participate as tBTC signers and earn KEEP rewards. The stakedrop runs for 6–12 months, distributing up to 20% of the total KEEP supply. During this period, ETH holders can run a Keep node and earn fees, transitioning to requiring KEEP staking once the allocated tokens are exhausted.

tBTC

tBTC is a decentralized Bitcoin bridge on Ethereum and the first application on the Keep Network. It is an open-source project backed by Keep, Summa, and the Cross-Chain Group. tBTC allows Bitcoin holders to interact with the Ethereum blockchain, enabling them to access the DeFi ecosystem. The tBTC token is fully Bitcoin-backed and pegged to Bitcoin. It went live in September 2020, after being fully audited.

Playing for Keeps

Playing for Keeps is an incentivized testnet that allows participants to learn staking and earn KEEP by contributing to the community. Rewards range from 100 to 100,000 KEEP, with contributions recognized by community judges. This initiative is part of the preparation for the network's stakedrop, helping ETH holders prove their ability to secure the network.

Rules

Participants must adhere to specific guidelines, including submission evaluation by judges and restrictions on eligibility for rewards. Core development team members and those involved with the codebase professionally are not eligible for rewards. The bounty program evaluates various factors to determine reward eligibility.

Team

The Keep Network team includes:

  • Matt Luongo - Project Lead
  • Corbin Pon - Developer & Ops
  • Antonio Salazar Cardozo - Head of Engineering
  • Carolyn Reckhow - Head of Business Strategy
  • Laura Wallendal - General Manager
  • Michael Gluzman - Head of Design
  • Sloan Thompson - Head of DevOps
  • Piotr Dyraga - Tech Lead
  • Liz Shinn - Designer
  • Promethea Raschke - Protocol Designer
  • Dmitry Paremski - Developer
  • Jakub Nowakowski - Developer
  • Łukasz Zimnoch - Developer
  • Nicholas Evans - Developer
  • Rafal Czajkowski - Developer
  • Erin Ng - Developer

Advisors

The advisors for Keep Network include:

  • Brayton Williams, Boost VC
  • John Packel, Hard Core Decentralization Developer
  • James Prestwich, Summa
  • Axel Blikstad, International Finance
  • Joseph Urgo, district0x
  • Luis Cuende, Aragon

Partners

Keep Network's partners are:

  • Paradigm
  • Polychain Capital
  • Fenbushi Capital
  • Andreessen Horowitz
  • Draper Associates
  • Fabric Ventures
  • Distributed Capital Partners