Keep Network and NuCypher to Combine Protocols for Upgrade

by in DeFi News

Defi merger

Keep Network and NuCypher, protocols running on Ethereum are creating a merger with the codename KEANU.

Related: Coinbase Pro Starts Trading of SHIB, KEEP, and CHZ

It's worth mentioning that KEANU is only the codename and the planned DAO may be renamed later. The name has a logic: KEANU is a kind of combination of the two project names.

Network upgrade vote passed after months of partnership. As mentioned in a blog post published by Keep, a vote was held, where a considerable majority of stakers voted for the idea. NuCypher, in its turn also released a blog post stating the idea got unanimous support.

Now the KEaNU project will start the development process starting from the staking contract. The operations will start as Keep's staff works on the V2 of its wrapped bitcoin project, TBTC. Afterwards, they will work on KEaNU DAO.

According to the KEEP team instead of splitting the market, the protocols joined forces to do more together.

The set timeline is voting and determine DAO governance in June, finish the implementation in July, launch the upgraded network in August, and launch tBTC in September. It's the first time when two DeFi protocols join.

Keep Network connects public blockchains and private data, while NuCypher provides privacy for the blockchain-based web.