KEEP Token (KEEP) API and Price Oracle

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KEEP Token

KEEP
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x85Ee...aFEC
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is KEEP Token (KEEP)?

KEEP Token (KEEP) is the native cryptocurrency of the Keep Network, a privacy layer for public blockchains like Ethereum. It aims to enable private data to be stored and computation to be performed off-chain while preserving the security and integrity of the blockchain. KEEP was founded in 2017 by Matt Luongo and Corbin Pon and the Keep Network was launched in 2020. The name "Keep" originated from the concept of "keeping" sensitive data private on a public blockchain.

How does KEEP Token work?

The KEEP Token operates on a technology known as "tBTC" which is built on the Ethereum blockchain. tBTC is a decentralized platform that enables the use of Bitcoin (BTC) on the Ethereum network.

The underlying technology behind KEEP Token involves a group of participants referred to as "signers." Signers collateralize their KEEP Token holdings to ensure the security and stability of the network. These signers are responsible for minting and redeeming tBTC, which is the tokenized representation of Bitcoin on the Ethereum blockchain.

To facilitate the functioning of the KEEP Token, signers participate in a process called "proof-of-reserves." This process verifies the Bitcoin holdings of each signer, ensuring that they have enough collateral to back the tBTC supply. This adds a layer of trust and transparency to the network.

In order to mint tBTC, users lock their Bitcoin into a deposit contract. The signers then validate the deposit and mint the corresponding tBTC. Users can then use these newly minted tBTC on the Ethereum network for various decentralized applications.

When a user wants to redeem their tBTC for actual Bitcoin, they initiate a redemption process. Signers verify the redemption request and release the Bitcoin from the deposit contract, enabling the user to seamlessly convert their tBTC back to Bitcoin.

By leveraging the tBTC technology, the KEEP Token allows users to access the benefits of Bitcoin on the Ethereum blockchain, bringing together the strengths of both ecosystems.

What are the benefits of KEEP Token?

KEEP Token, the native token of the Keep Network, offers several benefits that set it apart from its direct competitors. These benefits contribute to the token's value and appeal within the blockchain ecosystem.

One key benefit of KEEP Token is its primary use case as an incentivization mechanism for network participants. By holding and staking KEEP tokens, users can participate in the network's governance and decision-making processes, ensuring the security and integrity of the Keep Network. This governance model promotes decentralization and democratic decision-making, distinguishing it from some of its competitors who may rely on centralized entities.

Another advantage of KEEP Token is its utility in enabling a private and trustless bridge between the public Ethereum blockchain and private off-chain data. KEEP tokens are used to secure and operate the Keep Network's tBTC protocol, which allows Bitcoin to be used on the Ethereum blockchain. This functionality provides users with the benefits of both networks while maintaining the security and privacy of their transactions.

Compared to direct competitors in the blockchain oracle space, KEEP Token offers distinct advantages. In contrast to some competitors that rely on a centralized oracle model, the Keep Network utilizes a decentralized network of participants to provide data verification and validation. This decentralized approach enhances security and reduces the risk of single points of failure or data manipulation.

In summary, KEEP Token offers benefits such as decentralized governance, privacy-preserving cross-chain functionality, and a secure and trustless oracle network. These advantages distinguish it from its direct competitors, promoting its value within the blockchain ecosystem.

What is KEEP Token used for?

The KEEP token is the native cryptocurrency of the Keep Network, a decentralized platform that aims to bridge the gap between the world of blockchain and the traditional internet. The primary use of the KEEP token is for governance, allowing holders to participate in decision-making processes within the platform.

In addition to governance, the KEEP token also plays a crucial role in securing the network and incentivizing users to participate. Validators on the network are required to stake KEEP tokens as collateral. They must also bond ETH (Ethereum) to operate a node that keeps the network secure and provides storage for encrypted data. Validators are rewarded with fees in KEEP tokens for their participation.

One specific case that showcases the use of the KEEP token is tBTC. tBTC is an Ethereum-based decentralized cryptocurrency pegged to the value of Bitcoin. It allows users to access Bitcoin's liquidity and functionality within the Ethereum ecosystem. To ensure the security and stability of tBTC, KEEP tokens are used in various ways. Validators are required to stake KEEP tokens as collateral to back the minting of tBTC tokens. These tokens are then held in the smart contract to ensure the peg and can be redeemed for the underlying Bitcoin when necessary. Moreover, KEEP tokens are used for decentralized governance, allowing token holders to propose and vote on improvements to the tBTC system.

Overall, the KEEP token holds a vital role in the governance, security, and incentivization of the Keep Network, with one notable application being the facilitation of Bitcoin's representation on the Ethereum blockchain through tBTC.

What is DIA's KEEP Token API?

DIA's KEEP Token API is an important part of their offering, allowing developers to access real-time price feeds for crypto assets. These price feeds are created by aggregating data from over 85 on-chain and off-chain exchanges, resulting in a comprehensive and reliable source of information.

While DIA does provide free API endpoints for developers to test, they also offer fully customizable custom feeds. These custom feeds are tailored to specific requirements, allowing users to choose their sources, methodologies, and update mechanisms. This level of customization ensures that users can obtain the data they need in a way that suits their individual needs.

The potential use cases for DIA's API are vast and cover various aspects of the blockchain ecosystem. In the DeFi space, the price information from DIA's API can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi realm, the API can be used for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

Overall, DIA's custom feeds are particularly valuable as they allow users to fine-tune their data requirements, ensuring they receive the most relevant and useful information for their specific use cases. Developers can access DIA's API via Discord or Telegram to request custom feeds, opening up a realm of possibilities for their blockchain projects.

In the world of technology, APIs play a crucial role in enabling communication between different software applications. APIs, or Application Programming Interfaces, allow different programs to interact and exchange data seamlessly. Without APIs, developers would need to build complex and time-consuming integrations from scratch. APIs provide a standardized way for applications to communicate, making it easier for developers to access and use specific functionalities or data. In the case of DIA, their API allows developers to access real-time price feeds for cryptocurrencies and other assets, which can then be utilized in various blockchain applications and services.

What is DIA's KEEP Token price oracle?

DIA's KEEP Token price oracle is a smart contract that provides real-time price feeds for various cryptocurrencies. DIA stands out because it is integrated with over 35 layer 1 and layer 2 networks, allowing it to deploy price oracles on multiple blockchains. These oracles are built by aggregating data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accurate and reliable information.

While DIA provides demo oracles for developers to test, these are only for testing purposes and cannot be used in production applications. For users who require a custom configuration for a price feed, DIA offers the ability to build dedicated price feed oracles. These custom price oracles can be tailored according to specific needs, including sources, methodologies, and update mechanisms.

To request a custom feed, users can reach out to DIA via Discord or Telegram. This emphasis on custom oracles highlights DIA's commitment to providing users with flexible and personalized solutions.

Blockchain oracles, in general, act as external information providers that supply verified data from outside the blockchain to smart contracts. They bridge the gap between on-chain and off-chain data, enabling smart contracts to access real-world information. DIA's price oracles play a crucial role in various DeFi and NFTfi applications, including derivatives, lending and borrowing markets, collateralized stablecoins, peer-to-pool NFT lending, and more.

For more information, developers can refer to DIA's documentation, which includes details on their demo oracles and how to integrate them into applications.

Why use DIA's KEEP API & price oracle?

DIA's KEEP API and KEEP Price Oracle offer multiple benefits for users in the blockchain ecosystem. Users leveraging DIA's technology can access accurate and reliable price data for cryptocurrencies and NFTs. The foremost advantage of utilizing DIA's API or Price Oracle lies in the high level of customization it provides.

Each oracle and API endpoint can be tailored to meet the specific requirements of decentralized applications. This includes configuring settings such as the data sources composing the feed, applying data cleaning filters and pricing methodologies to determine price points, and managing update mechanisms and frequency. Such flexibility ensures that the data and oracle remain robust and resilient, adapting to unique market conditions. This customization enables users to receive tailored solutions for their needs, whether it be accessing a global market or specific individual or cross-chain market prices.

Transparency is another key benefit offered by DIA's API and oracles. They provide full and granular transparency throughout the entire data journey, enhancing trust and accountability. Furthermore, DIA offers tracking and monitoring tools to closely monitor the oracle and API feeds, allowing users to verify the integrity of the provided data.

In summary, DIA's KEEP API and KEEP Price Oracle provide users with accurate, customizable, and transparent access to price data for cryptocurrencies and NFTs. These tools help ensure the reliability and resilience of decentralized applications in the blockchain ecosystem.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.