Puffer Finance is an Ethereum restaking protocol with its own liquid restaking token (LRT) - pufETH. It stands out from most staking protocols with its unique Validator Tickets model, designed to incentivize node runners to turn into profit more effectively, while providing stakers with more consistent rewards from staking. This approach allowed the Puffer protocol to grow its TVL to over $1.3B in just three months after the project's launch.
Such success has garnered attention not only from the crypto community but also from top-tier funds. Since 2021, the company has managed to raise over $24.27M from Ethereum Foundation, Binance Labs, Coinbase Ventures, Consensys, and others.
Puffer Finance - WAITLIST Overview
Puffer Finance - Review
Puffer Finance Review
Puffer Finance is a liquid staking protocol with the native liquid restaking token (LRT) - pufETH. It allows users to earn rewards from Ethereum staking and restaking, while having access to the liquid funds in a form of pufETH LRT.
The Puffer Finance stands out with its focus towards decentralization and security of stakers. On the Puffer Finance, to start running the node, users need to purchase at least 28 VT ERC-20 tokens, price of which equal to the estimated one day of node runner earnings.
Then, they need to lock those VTs and 1 ETH as a collateral to get access to the node. By forcing the node runners to purchase VTs, it ensures NoOps are highly incentivised to perform better, while creating new trading opportunities and addressing “rug-pooling”.
More info about the VTs you can read in Puffer docs.
Puffer Finance token: According to Puffer's documentation, the platform is planning to conduct decentralization, which potentially means releasing its native token and an airdrop to early adopters. The $PUFFER is a governance token of the platform powering its $vePUFFER Governance Mechanism.
On Oct. 10, 2024, the protocol released its native token and disclosed its tokenomics. A few hours later, the Bybit exchange announced the listing and subsequent IEO on its platform.
✅ Puffer Finance pros:
- Good concept and design of the product, which aligns with “Ethereum restaking” trends;
- The protocol reached $1.3B in only three months since the launch of the testnet;
- Low Initial MC at the start of token release - 10.23%;
- Low Fully Diluted Marketcap - $9.1M if using the price of the $PUFFER’s premarket;
- The platform hosted a bug bounty program from tier 1 auditor - ImmuneFi;
- Strong PR, SMM, Growth, and Influencer marketing performance;
- Strong network of top-tier funds invested into the project;
- The project has won a 138K grant from Ethereum Foundation;
- The platform was audited multiple times by top-tier companies;
- Listing and IEO on Bybit;
- Presence of top-tier partners supporting the project;
- Experienced leadership team.
📛 Puffer Finance cons:
- Weak Marketing Infrastructure and poor SEO performance.
Puffer Finance - Token Economy
Puffer Finance - Token Sale Rounds
07 Jun 2022
28 Jul 2022
Puffer Finance - Team
