diff --git a/keeperDAO/the-mission-of-KeeperDAO.md b/keeperDAO/the-mission-of-KeeperDAO.md new file mode 100644 index 0000000..0d8b053 --- /dev/null +++ b/keeperDAO/the-mission-of-KeeperDAO.md @@ -0,0 +1,28 @@ +## [The Mission of KeeperDAO](https://blog.keeperdao.com/mission/) + +* Keepers are bots that work on blockchain networks like Ethereum. The are an emergent and increasingly important network participant. +* Keepers respond when there is a need to buy or sell a sequence of assets, or execute particular smart contracts in a timely manner. +* DeFi relies on Keepers. Their constant arbritage keeps prices in sync accorss dexes. +* From the keeper's perspective, a blockchain is a giant chessbord. They look for sequences of mvoes with high MEV and try to execute them. +* To be the first, they must pay block producers (minners and validators) above and beoynd the normal fee. +* Unlike block producers, Keepers were not accounted for in Ethereum's protocol design. This has turned Ethereum's public mempool (database where all unprocessed transactions are stored) into a dark forest. + +### The Coordination Game + +* Game-theory optimised Keeper protocol that provides a solution in the MEV incentive structure problem; aligns Keeper's incentives with those of the network participants. +* Currently it's not clear how many Keepers are there, how much liquidity they command, how protocols shoudl optimally price risk, or how users and protocols should bid for Keeper attention. +* KeeperDAO protocol fills the void by formalizing the work Keepers do in a way that benefits the nwtwork, ensuring more determinism and avoiding harmful side-effects like the exploitation of users and protocols through predatory MEV attacks. + +### The Mission + +* KeeperDAO is dedicated to Keepers: to bring about a decentralised economy which Keepers create more efficient, secure, and egalitarian blockchain networks. +* Research and build unique technology to coordinate access to certain shared resources - namely order and transaction pools bound for blockchain networks - allowing keepers to more efficiently capture on-chain profit - for example by executing an arbritage or liquidation. +* KeeperDAO creates new primitives that users and protocols can use to protect themselves from predatory MEV. + +### Founding principles + +1. Reward those that add value +2. MEV doesnt belong to block producers +3. Search for win-win scenarios +4. Solve hard problems +5. Decentralise