puffer finance logo

Puffer Finance (N/A)

Active
Total Raise: $24,270,000
Date: 01 Jun - 15 Aug

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. 

❗️ ❗️ ❗ IMPORTANT:

Please note that all information, including our ratings and reviews, is presented purely for educational purposes. CoinLaunch isn't a financial advisor and doesn't intend for the information to be perceived as investment advice or recommendations. Our project evaluation methodology encompasses 89+ distinct variables/metrics, refined over time through the team's rich 7-year experience.

Puffer Finance Overview

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 the release of its native token and an airdrop to early adopters. The CoinLaunch team assumes its main role will be solely to grant access to DAO voting within the platform and incentivize ecosystem contributors.

With the recent launch of the Puffer protocol’s mainnet and rumors circulating within the crypto community about the public release of its native token, our team decided to conduct research on the pros and cons of the project. Here's what we found:

 

✅ Puffer Finance pros:

  • Good concept and design of the product, which aligns with “Ethereum restaking” trends;
  • The protocol reached $1.3B only in a three months since launch of the testnet;
  • The platform hosted 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 138K grant from Ethereum Foundation;
  • Presence of top tier partners supporting the project;
  • Experienced leadership team.

📛 Puffer Finance cons:

  • No tokenomics released; 
  • Insufficient quantity of the platform’s smart contract audits from top tier companies;
  • Weak Marketing Infrastructure and poor SEO performance.

Puffer Finance Token Economy

Total Raise: $24,270,000
Total Supply:
Private/Pre-sale: (0%)
Public Sale: (0%)
Fully Diluted Valuation (FDV):
Initial Circulation Supply: (0% of FDV)

Puffer Finance Token Sale (ICO & IDO) Rounds

Seed: 01 Jun - 02 Jun

Price: N/A
Tokens for sale: N/A
Raise: $650,000
Lock-Up: N/A
Private: 01 Nov - 02 Nov

Price: N/A
Tokens for sale: N/A
Raise: $138,000
Lock-Up: N/A
Seed: 08 Aug - 09 Aug

Price: N/A
Tokens for sale: N/A
Raise: $5,500,000
Lock-Up: N/A

Puffer Finance Funds and Backers
(3/11)

Submit
Animoca Ventures Logo
Animoca Brands (Ventures)
Score: Very High
7 numbers of
investment
Read More
Jump Crypto
Jump Crypto
Score: Medium
6 numbers of
investment
Read More
lightspeed venture partners logo
Lightspeed Venture Partners
Score: Very High
4 numbers of
investment
Read More
View All

Puffer Finance Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  15 May 2024 Upgrade

Puffer Finance Team

Amir Forouzani
Amir Forouzani
Core Contributor
Jason Vranek
Jason Vranek
Core Contributor
Christina C.
Christina C.
Core Contributor

Puffer Finance News

Puffer Finance Roadmap

2022

Ethereum Foundation Grant.

2023

R&D nLRP.

Apr 2024

Public Testnet;

EigenLayer Integration.

May 2024

Mainnet.

2024

Puffer AVSs.

Puffer Finance Airdrop & Retrodrop & Bounty

Airdrop
puffer finance logo
funds
Start Date:
04 May 2024
End Date:
15 Aug 2024
Difficulty:
Medium
Winners:
N/A
Rewards:
N/A

Description

Puffer Finance is a prominent restaking protocol aimed at challenging Lido’s staking monopoly and safeguarding Ethereum from centralization through restaking. It enables users to earn APR from Ethereum staking and restaking, all while allowing them to maintain ownership of their funds in the form of Liquid Restaking Tokens pufETH.

According to the platform’s documentation section titled “governance” and rumors within the crypto community, Puffer Finance is going to release its native token. With the launch of the protocol’s mainnet, there are strong indications that the token release and Puffer airdrop may occur in the near future.

Read More

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