Keep Token Analysis: Why I Sold.
Continuing our theme this month of optimizing the PIF crypto portfolio for both profitability and halalness, I just sold my Keep token position in the PIF crypto portfolio.
For those unfamiliar, Keep Token started as a privacy layer for public blockchains that allows users and applications to store data privately and in a decentralized way.
The initial thesis for this token was that users of Decentralized applications would ultimately need a means for storing their sensitive information and KEEP seemed to provide this.
However, after the merger between NuCypher and KEEP to create The Threshold network (T), all of the effort of this project’s developers has basically been limited to allowing people with Bitcoin to use their Bitcoin on the Ethereum network to earn yield.
This is not a cause that I feel any passion about.
Further, Wrapped Bitcoin already does this.
For this reason, I am selling my position in KEEP/Threshold token.