Puffer is a native liquid restaking protocol (nLRP) built on EigenLayer, designed to enhance the performance and decentralization of Ethereum validators. It allows Ethereum Proof of Stake (PoS) validators to increase their capital efficiency by enabling the use of staked ETH for other operations, such as securing decentralized systems like oracles and sidechains. Puffer addresses key challenges faced by decentralized staking protocols and promotes a more decentralized Ethereum ecosystem by lowering the barrier to entry and incorporating slash protection mechanisms.
Puffer operates through liquid restaking, enabling Ethereum validators to use their staked ETH for various purposes beyond securing the Ethereum blockchain. Users deposit ETH into Puffer's liquid restaking protocol, which is then used to support Ethereum validators. In return, users receive pufETH, a native Liquid Restaking Token (nLRT), representing the staked ETH and accruing Ethereum PoS rewards and additional restaking rewards from EigenLayer. Puffer also introduces Validator Tickets (VTs) as ERC20 tokens that grant holders the right to run validators, providing a more stable return for stakers. Validators and stakers earn rewards from Ethereum PoS rewards and EigenLayer restaking rewards, enhancing the earning potential for validators and providing liquidity to stakers holding pufETH. Furthermore, validators in Puffer can restake their ETH to perform additional duties, such as running decentralized services, generating restaking rewards. Puffer's permissionless design allows anyone to participate, lowering the entry barrier and decentralizing the network.
Consider investing in Puffer (PUFFER)? It only takes 2 minutes to create an account on Bitget and start trading PUFFER.
Check out the available PUFFER trading pairs on Bitget!
Spot market
Buy Puffer in St. Vincent & Grenadines with Bitget