- A class of externally owned accounts that is an incentive to perform an action in a DeFi protocol of a dApp
- Automation is key to a successful and efficient future
- Keepers are bots that interact with decentralized protocols in order to "keep" them healthy
- These bots can automate key functions of smart contracts to execute them flawlessly and without delay
- Keeper receives a flat fee as a reward for its work

Butler University

University of Michigan - Ann Arbor

Centralized financial system inefficiency comes in the form of:
- Long processing times
- Credit card interchange rate
- Slow and costly transfer of funds
- Direct and indirect brokerage fees
- Lack of security
- Inability to conduct microtransactions 

Inefficiency

Harvey, Campbell R., et al. “Defi and the Future of Finance.” SSRN, 15 Dec. 2020, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3711777. 

DeFi and the Future of Finance 

Keepers

- An improvement or update to an existing protocol that is linked to the protocol's history
- Users have the choice of selecting the old or new protocol. If the new protocol is better and attracts sufficient mining power, it will win.
- Forking is a key mechanism in promoting and assuring efficiency in DeFi

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