Puffer Finance is launching a new management token with an initial $102.3 million offering focused on community participation.
The airdrop campaign will distribute 13% of the total offering over two seasons starting October 14, 2024.
The platform has secured $18 million in funding and the total value locked in with the re-summary and roll-up solution exceeds $1.3 billion.
Puffer Finance announced the launch of a new managed #token $PUFFER as part of its expansion strategy in the crypto industry.
The platform was originally known for its focus on liquid staking, but has now moved into more advanced solutions such as roll-up and liquid re-staking. In its new phase of development, the platform aims to become a key player in the #blockchain infrastructure by implementing community participation mechanisms through decentralized governance.
PUFFER distribution will begin on October 14, 2024 at 11pm CET and will run until January 14, 2025 at 11pm CET!
The total token offering is $1 billion, with an initial offering of $102.3 million. The tokens will allow users to participate in key protocol decisions, such as commission structure and security measures.
The platform has implemented an escrow voting mechanism where users can place a $PUFFER bet and receive vePUFFER, a token that grants voting rights based on the amount of the bet. This governance structure is designed to encourage community participation in determining the future direction of the platform.
To encourage the use of new tokens, Puffer Finance launched an airdrop campaign. In the first season, dubbed Crunchy Carrot Quest, 7.5% of tokens will be distributed to eligible users, and the remaining 5.5% will be distributed in the second season.
The #tokenization will begin on October 14, 2024 and will run until January 14, 2025.
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