Keep Network

Keep Network

KEEP
$0.18134705
-0.32%
$0.17725301

24H Price

$0.18490179


About Keep Network

The Keep Network price is $0.18134705, a change of -0.32% over the past 24 hours as of 3:43 p.m. The recent price action in Keep Network left the tokens market capitalization at $99.69M. So far this year, Keep Network has a change of 46.92%. Keep Network is classified as a Computing under CoinDesks Digital Asset Classification Standard (DACS).

Keep is the native cryptocurrency of the Keep Network, a blockchain designed to allow users to send data over public blockchains privately and securely. Keep’s flagship product is tBTC, a decentralized version of bitcoin created for use on the Ethereum blockchain.

KEEP price

All 1 billion keep tokens were released during the project’s launch in 2020, meaning it is not an inflationary asset. Ten percent of keep was set aside for the founding team, 5% for early advisers and 25% for the developing entity behind the Keep Network (formerly Keep SEZC, now Thesis). Keep also provided 5% to reward tBTC liquidity providers for participating in the ecosystem. The remaining 55% was distributed in private token sales and a “stake drop.”

Keep was first sold in two separate simple agreements for future token (SAFT) sales in 2018 and 2020 that made up 35% of the token’s supply. In June 2020, Keep held a public stake drop in collaboration with token staking provider Bison Trails to release 20% of the total supply of keep to users who stake ETH for a period of at least six months, which would be distributed to users gradually over the course of two years.

Keep reached its all-time high of $6.10 in May 2020, just before the public stake drop of the token. Just a few months after the tokens began being distributed to the public, keep reached its all-time low of about $0.40 in November 2020. Following an announcement in October 2021 that Keep would be merging with NuCypher, keep spiked over 585% to a peak of $0.75.

How does Keep work?

The Keep Network is an open-source, decentralized management system that lets users securely store assets on the Keep Network with full encryption and access, while securely trading a synthetic version of that asset on the Ethereum blockchain. The Keep Network uses private, off-chain sections of its blockchain known as “keeps” to protect user privacy through encryption and private data storage. Additional privacy is created by keeps through their distribution across the Keep Network, which keeps the data decentralized and inaccessible to any singular entity. For tBTC, Keeps stores the private keys to the actual bitcoin in keeps, allowing the keys to remain secure from the public Ethereum blockchain.

Key events and management

Keep Network was developed in 2017 by co-founders Matt Luongo and Corbin Pon and continues to be maintained by Luongo and Pon’s company, Thesis. Prior to becoming a part of Thesis, Keep Network was spun out of the bitcoin rewards app, Fold – another crypto venture developed by Luongo and Pon.

In 2018, Keep Network held its first private token sale, raising over $20 million from Andreessen Horowitz, Draper Associates, Polychain Capital and others. In April 2020, Keep developer Thesis raised another $7.7 million in a keep token sale round that was led by Paradigm Capital and that included Collaborative Fund, Fenbushi Capital and others. The funds were raised to launch the tBTC mainnet alongside interoperability software provider Summa.

As of January 2022, Keep and NuCypher were completing their merger into the Threshold Network. The project has been given the code name KEaNU from community members to track its progress. Once the deal is completed, the Threshold Network will provide several threshold cryptography primitives for NuCypher and Keep, including proxy re-encryption, threshold signatures, distributed key generation and random beacons.

Read less...
Sponsor LogoBuy crypto on a secure, trusted platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.

Latest About Keep Network

View All
Dublin, Ireland (Diogo Palhais/ Unsplash)
Crypto Infrastructure Firm Ramp Network Secures Ireland Registration

The company wants to make Ireland its European headquarters.

Dublin, Ireland (Diogo Palhais/ Unsplash)
NEW YORK - CIRCA 1950:  Madison Avenue advertising executives work on a project circa 1950 in New York City, New York. (Photo by Ivan Dmitri/Michael Ochs Archives/Getty Images)
Web3 Marketing Startup Spindl Launches On-Chain Ad Network

Crypto wallet activity is a better way to find sales prospects than "weird, sketchy Web2 data," says Spindl CEO (and Facebook vet) Antonio Garcia Martinez.

NEW YORK - CIRCA 1950:  Madison Avenue advertising executives work on a project circa 1950 in New York City, New York. (Photo by Ivan Dmitri/Michael Ochs Archives/Getty Images)
image of a crypto trader aka degen (Anjo Clacino/Unsplash, modified by CoinDesk)
Meme Coins MOG, PEPE Rocket as Traders Search for Ether Beta Bets

Meme coins are increasingly seen as a way to bet on the growth of the network they are issued on.

image of a crypto trader aka degen (Anjo Clacino/Unsplash, modified by CoinDesk)
Solana price over the past week (CoinDesk)
Solana's SOL Could Hit $200 By Month End, Hedge Fund Founder Says

The fifth-largest cryptocurrency is benefitting from multiple catalysts, including bustling meme coin and DeFi activity, upcoming network upgrade and increasing interest in re...

Solana price over the past week (CoinDesk)

CoinDesk Indices

View All
Top Indices including Keep Network
Logo
Index nameTickerWeight24H

Bitcoin Calculator

Last Updated on 05/27/24 3:43 PM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.