stKeep3r is a scam, right?

Is the Twitter account @kp3r_network actually part of the Yearn ecosystem? It has been persistently posting usage statistics for a service/token called stkeep3r that offers a staking “service” for ETH and KP3R.

This service sends up all sorts of red flags to me, mostly the unsustainable promise of ~1% daily in-kind returns on locked ETH, forever. I am convinced it is a Bitconnect-style Ponzi:

  • Lack of transparency: the docs page provides no information about the purported yield-earning strategies, nor any link to smart contracts or source code. There is no way to verify the strategy earnings reported on their staking page.
  • Staking returns coming from an EOA, not a contract. Although the on-chain record of daily payouts to ETH stakers is quite consistent, the daily payouts are not delivered by a smart contract, but by a regular old EOA.
  • Less relevant but still noteworthy: the English grammar on the docs page is so poor that it obscures the authors’ intended meaning in places.
  • Currently the relevant contracts/addresses hold more ETH from end users than the amount of ETH it has paid out. If this is a Ponzi, it appears to have at least a month or two of runway before deposited ETH runs dry.

What am I missing? If this is indeed a scam, the @kp3r_network Twitter account should be reported by community leaders. It is already incredibly hard to find accurate, useful information about Keep3r network without scams getting in the way. Thanks for any insights!

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No that account and their token is a scam: report, block, and delete them.

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i fell for it in a moment of sleep deprivation. didnt help the scam twitter account was followed by a bunch of reputable twitter accounts like a sushi dev and other crypto influencers. i smashed that approve button and sent so fast. I accept I lost it all but is there any chance they can steal more funds because of the permissions I granted them?

Probably not but you can revoke smart contract approvals here

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Scam> We would love to see being available everywhere