The round was led by Brevan Howard Digital and Electric Capital, with investments from Coinbase Ventures, Kraken Ventures, Lemniscap, Franklin Templeton, Fidelity, Mechanism, Lightspeed Faction, Consensys, Animoca and GSR, the company said in a press release.
The fresh round of capital will be used to help launch Puffer’s mainnet. Prior to this, Puffer raised $5.5 million, and is part of a class of protocols that have come out of the growing"restaking" field that has taken the Ethereum ecosystem by storm. EigenLayer, a restaking pioneer that launched last week, which lets Ethereum stakers earn yield for using their ETH tokens to help secure third-party platforms known as"actively validated services” . Puffer is an AVS on EigenLayer.
Puffer then hands out their own token, pufETH, to its users representing their deposit, allowing them to use that token for trading or for other purposes.“With our upcoming mainnet launch, we aim to significantly reduce the barriers for home validators to participate, while delivering the most advanced liquid restaking protocol,” said Amir Amir Forouzani, CEO at Puffer Finance. “This is a major step forward for Ethereum’s decentralization and the wider restaking ecosystem.
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