pufETH From Anywhere with Puffer & Everclear
We are excited to announce our partnership with Everclear, the pioneering Clearing Layer, to unlock restaking on L2s powered by Chain Abstraction.
This collaboration represents a significant step forward in addressing liquidity fragmentation and enhancing interoperability within the Ethereum ecosystem. Together, Puffer UniFi, our flagship Based Rollup, and Everclear will streamline transactions, reduce costs, and create a more unified blockchain environment for Ethereum.
What is Everclear?
Everclear, previously known as Connext, is the first Clearing Layer designed to manage the global netting and settlement of capital flows between chains. By coordinating market actors and integrating with various settlement mechanisms, Everclear reduces the cost and complexity of rebalancing liquidity by up to 10x, providing a solid foundation for seamless liquidity and permissionless chain expansion.
Earlier this year, Everclear launched Restake From Anywhere, the largest real-world application of Chain Abstraction to date. This feature enabled users to restake native ETH directly from their chosen L2, bypassing Ethereum Mainnet fees and fostering healthier TVL growth for L2s.
Puffer’s Evolution From Liquid Restaking to Based Rollup
Puffer Finance originated as a native Liquid Restaking Protocol (nLRP), enhancing Ethereum’s ecosystem with our pioneering Liquid Restaking Token (LRT), pufETH. Recognized for its flexibility and efficiency, Puffer has become the third-ranked liquid restaking protocol globally, boasting over 490,000 ETH staked — approximately $1.6 billion in total value locked. This success underscores our commitment to secure, profitable staking solutions that contribute to Ethereum’s decentralization and security.
Building on this foundation, we developed Puffer UniFi to tackle pressing Ethereum challenges, including liquidity fragmentation, user friction and the outflow of Ether value. Puffer UniFi leverages Ethereum’s validators to enhance transaction sequencing and synchronous composability, significantly streamlining the user experience.
Our partnership with Everclear is pivotal, utilizing their advanced clearing mechanisms to facilitate seamless ETH staking from any chain. Everclear plays a crucial role in our strategy by serving as a bridge between existing L2 technologies and our future Based Rollup. This collaboration not only satisfies current ecosystem demands but also enhances Ethereum’s scalability, security, and usability. Stake pufETH From Anywhere
As the pioneer native Liquid Restaking Protocol, Puffer allows users to earn Ethereum PoS and EigenLayer AVS’ yields on their staked ETH, while maintaining liquidity through pufETH.
However, restaking is currently limited to the Ethereum mainnet, requiring users to transfer their assets to the mainnet. This results in high fees, a poor user experience, and a drain of TVL from L2 ecosystems.
With Everclear’s Restake from Anywhere, Puffer users will soon be able to stake their ETH directly on their preferred L2s without incurring the high fees of Ethereum Mainnet.
How Does it Work?
In the near future, users will be able to stake their native ETH on Puffer directly from their preferred L2, enjoying pufETH benefits. Upon staking, users instantly receive pufETH, which can be used for various DeFi activities within the ecosystems they staked from.
The minting of pufETH from the L2 is made possible thanks to the xERC20 standard, a bridge-agnostic standard that allows token issuers to retain control of their tokens across different blockchains, ensuring maximum security, interoperability and zero-slippage.
In the background, the ETH is batched and bridged to the Ethereum Mainnet via Everclear, where it is staked. Everclear’s trust-minimized infrastructure automates and optimizes this process for cost-efficiency, while maintaining top-tier security.
This process eliminates any mainnet fees for users, providing a fast, cheap, and one-click staking experience. Chain Abstraction for the win!
Our collaboration with Everclear is setting new standards in blockchain efficiency and economic sustainability. By achieving a unified liquidity coordination layer that enhances transaction processing and settlement, we are paving the way for a more robust Ethereum ecosystem. Follow us on Twitter, Discord, and Telegram to stay updated on our progress and future developments.
About Everclear
Everclear is the first Clearing Layer designed to coordinate global netting and settlement of liquidity between chains. By leveraging decentralized mechanisms and advanced netting strategies, Everclear reduces rebalancing costs and complexity, paving the way for a more efficient and scalable blockchain ecosystem. https://www.everclear.org/
About Puffer Finance
Puffer Finance is a leading innovator in Ethereum infrastructure, focusing on next-generation rollups supported by liquid restaking (LRT) and preconfirmation as an AVS. With products like Puffer UniFi and Puffer UniFi AVS on EigenLayer, we are dedicated to enhancing Ethereum’s decentralization. puffer.fi
