Puffer News — April 26, 2024
Ahoy Puffer family! Welcome to your trusted source for all things Puffer!
Dive into the latest updates, partnerships, and developments, ensuring you’re always in the know with the advancements of your favorite Native Liquid Restaking Protocol.
Let’s explore the recent happenings at Puffer 👇
Puffer Raises $18M to Propel Ethereum’s Decentralization
Puffer is making waves with some fantastic news — we have successfully reeled in a whopping $18 million in our Series A funding! With the savvy sea captains at Brevan Howard Digital and Electric Capital steering this ship, this treasure will launch our Puffer Mainnet, splashing into a more decentralized Ethereum sea. We’re thrilled to welcome our new crew members from Coinbase Ventures, Kraken Ventures, Franklin Templeton, and more! Thanks for believing in our voyage to revolutionize Liquid Restaking and steer us toward exciting, uncharted waters!
Mainnet Rush Campaign: Sail for More Rewards
MAINNET RUSH IS ONBOARD! Dive deep and earn 5X Puffer Points and EigenLayer Points with your stETH or wstETH deposits. This tidal wave of bonuses is just the start — get ready for more integrations to maximize your treasures in the Puffer ecosystem. Hurry, these currents won’t last forever!
Join the rush: Puffer Quest Portal
Testnet Is Still Cruising!
Our Public Testnet is still live, offering Ethereum validators a hands-on adventure with our Native Liquid Restaking. Plunge into Puffer’s unique innovations, such as the Secure-Signer, our anti-slashing solution, and Validator Tickets, a mechanism designed to enhance the efficiency and competitiveness of permissionless Liquid Staking Providers. These cutting-edge technologies are meticulously crafted to boost safety and efficiency on your restaking journey. Ready to set sail?
For requirements and instructions: Node Requirements
For setup: Puffer Testnet Setup
Official announcement: Puffer on Twitter
TVL and the Quest for Decentralization
Over-centralization, particularly around a single Liquid Staking Token (LST) like Lido’s stETH, which currently controls 29.4% of all staked ETH, presents significant risks. Such concentration can lead to cartelization, threatening the Ethereum network with potential transaction censorship and manipulative MEV (Maximal Extractable Value) extraction. This centralization could ultimately compromise the integrity and security of the entire network.
From the early days, Puffer’s mission has been to advocate for Ethereum’s decentralization. During our pre-mainnet phase — the Crunchy Carrot Campaign — we gathered an impressive 1.4 billion in stETH deposits, representing about 4.48% of all stETH. With our Mainnet launch and the onset of our vampire campaign, all stETH will be converted into ETH to fund decentralized and permissionless validators. Keep a weather eye on the horizon as this marks the beginning of Puffer’s ambitious dream to become the guardian of the seas!
DeFi Integrations
Embark on new voyages through our latest DeFi integrations! pufETH holders now have unprecedented opportunities to navigate through rewarding ecosystems, enhancing their journeys with exceptional bonuses and high APRs.
Desyn Protocol: Sail with Desyn Protocol where pufETH holders can enjoy triple points from Puffer, EigenLayer, and Desyn. Set your course for returns between 50–300% APR, plus additional bonuses by issuing a dpufETH fund.
Balancer: Plunge into the pufETH/stETH pool on Balancer to harvest 2x Puffer Points on your deposits.
CyberConnect: Stake your pufETH at CyberConnect to receive a 1.15x boost on Puffer Points while earning Cyber Restaking Points.
Restake now: https://quest.puffer.fi/integration
Infrastructure Developments
Steering through the technological seas, we are enhancing our infrastructure to make pufETH even more robust and versatile. Our partnerships are setting sails for new horizons, propelling Puffer towards being a beacon in the LRT ecosystem.
Redstone Oracle: In a new collaboration with Redstone, their Modular Oracles will provide precise and reliable pufETH price feeds through their Classic (Push) Oracle model, enhancing the accuracy of our DeFi integrations and offering unparalleled transparency to our community.
Multi-Puff: Puffer is set to take pufETH multichain soon after the mainnet launch, broadening our reach across diverse blockchain landscapes. More details coming soon!
Security Updates
Smart Contract Audits: Our initial round of audits with Nethermind is complete, enhancing our defenses. More audits are planned to further secure our protocol.
Bug Bounty Program: The latest bug bounty hunt with Immunefi has wrapped up successfully, distributing $50,000 in rewards. Stay tuned for more bounty programs on the horizon!
Fighting Scams: We continue to combat online scams with Doppel, monitoring on-chain data, domains, and social media for fake tokens and fraud to keep our community safe. Together, we’ve taken down dozens of scams on Twitter, Telegram, and other social media platforms.
Stay tuned for more updates on our Twitter, Discord, and Telegram. As always, happy puffing! 🐡
About Puffer
Puffer is the first native Liquid Restaking Protocol (nLRP) built on EigenLayer. It introduces native Liquid Restaking Tokens (nLRTs) that accrue PoS and restaking rewards. Nodes within the protocol leverage Puffer’s anti-slashing technology to enjoy reduced risk and increased capital efficiency, while supercharging their rewards through native restaking exposure. http://puffer.fi/
