Puffer Price

Puffer Finance (PUFFER) is a decentralized liquid restaking protocol built on the EigenLayer foundation. It enhances Ethereum’s Proof-of-Stake (PoS) performance by allowing users to restake their already staked ETH, boosting capital efficiency. When you stake ETH in Puffer, you receive "pufETH," which you can use across other protocols while still earning rewards from Ethereum staking.

The platform also supports faster and cheaper Ethereum transactions through its UniFi-based rollups, which bundle multiple transactions to reduce fees and improve speed. Puffer’s governance token, $PUFFER, allows you to participate in protocol decisions and governance by staking it to earn vePUFFER, a vote-escrow token.

Puffer Finance has an upcoming airdrop starting on October 14, 2024, and it has raised significant funding to expand its services in Ethereum scaling.

Puffer Finance (PUFFER) works by providing a more efficient and accessible way to stake and restake Ethereum. It introduces liquid restaking, allowing you to use your staked ETH across multiple DeFi protocols without having to unstake it. When you stake ETH with Puffer, you receive a token called pufETH, which can be used in other decentralized applications while your original ETH remains staked, earning rewards.

This system increases the capital efficiency for Ethereum validators, enabling them to earn extra rewards from other services, such as rollups or pre-confirmation services, without additional collateral. Puffer also uses strong security measures, like slashing protection and Secure-Signer technology, to protect validators from losing their staked funds due to errors.

Additionally, Puffer's governance token, $PUFFER, gives holders voting power to influence protocol decisions, further decentralizing control of the network.

Puffer Finance was founded by Amir Forouzani in 2022. It is built on Ethereum’s EigenLayer and focuses on liquid restaking, allowing users to stake ETH while using the staked assets across multiple DeFi applications. This increases capital efficiency and helps validators earn additional rewards.

Puffer launched its governance token, $PUFFER, in 2024. The token allows holders to participate in governance decisions, such as voting on protocol updates, and earn rewards through staking. Puffer has raised significant funding, including an $18 million Series A round in early 2024 to fuel its development.

The roadmap for Puffer Finance includes the launch of Puffer V2, which will bring improvements in Ethereum scaling through rollups and introduce new governance features. The project aims to enhance Ethereum’s decentralization while promoting validator security through advanced technologies like Secure-Signer and RAV slashing protection.

The Puffer Finance (PUFFER) token is primarily used for governance within the Puffer and UniFi ecosystems. It allows you to participate in decisions like setting protocol fees, selecting operators, and managing key infrastructure. You can also stake PUFFER tokens to earn additional rewards and increase your voting power through a unique system called vePUFFER, which encourages long-term engagement.

Additionally, PUFFER helps manage rollup solutions, which enhance Ethereum’s scalability and security by bundling transactions for faster processing. You can now trade Puffer Finance token on the KuCoin Spot Market, where it is available under the trading pair PUFFER/USDT. Ensure you DYOR before trading $PUFFER in the crypto market.

The total supply of Puffer Finance (PUFFER) tokens is capped at 1 billion, with an initial circulating supply of approximately 102.3 million tokens. The token serves several key roles in the Puffer and UniFi ecosystems:

1. Governance: PUFFER token holders can vote on important protocol decisions, such as setting fees, selecting operators, and managing treasury funds. This gives you direct influence over the development of Puffer’s ecosystem.

2. Ecosystem Development: Around 40% of the total token supply is allocated to supporting the ecosystem, including community incentives and infrastructure development.

3. Airdrops: 13% of the supply is dedicated to airdrops, with users able to participate in events like the Crunchy Carrot Quest to earn PUFFER tokens.

4. Community Growth: 7.5% of the supply is allocated for community initiatives, aiming to expand user participation and engagement.

To participate in the Puffer Finance (PUFFER) airdrop, follow these steps:

1. Set Up an Ethereum-Compatible Wallet: Use a crypto wallet like MetaMask that supports ERC-20 tokens. Ensure your wallet is funded with a small amount of ETH to cover gas fees during the token claim process.

2. Check Eligibility: The airdrop is available to users who participated in campaigns like the Crunchy Carrot Quest or those eligible from the snapshot taken on October 5, 2024. You can check your eligibility by visiting the Puffer Official Airdrop Page.

3. Claim Your Tokens: After connecting your wallet on the airdrop page, the platform will verify your eligibility. You can then claim your PUFFER tokens. A portion of the tokens might be available immediately, with the rest vesting over time.

The first airdrop season runs from October 14, 2024, to January 14, 2025, and will distribute 7.5% of the total PUFFER supply. A second season will follow with additional tokens for new participants.