Puffer Finance (PUFFER)

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.