Puffer is open for airdrop today, and many people should be on their way to claim it. Everyone has high hopes for such a star project before. The final result can be discussed in the comment section.
1️⃣What is Puffer?
Puffer Finance's vision is to promote widespread application based on application chains by solving the fragmentation problem in the Ethereum ecosystem, improving user experience and narrative. Through innovative infrastructure solutions, it will completely change the pledge and expansion mechanism of Ethereum. It will solve the problem of liquidity fragmentation, bridge complexity, and let value flow back to Layer 1.
2️⃣What are the three core components of the Puffer ecosystem?
Puffer has evolved from being the first native Liquid re-collateralization protocol to a comprehensive Ethereum scaling solution. It consists of three core components:
1. Puffer LRT
Puffer LRT is its flagship product, which combines EigenLayer technology. Users can convert staked ETH into pufETH, so that they can use it flexibly on multiple DeFi platforms while enjoying the benefits of staking.
2. Puffer UniFi Rollup-based solution
UniFi Rollup is a sorting-based L2 solution that supports seamless interoperability between L2↔️L2 and L2↔️L1, making interactions between different application chains more efficient and convenient.
3. UniFi Preconf AVS (Pre-confirmation Service)
Provides near-instant finality for L1 and L2 transactions, with confirmation times of only about 100 milliseconds. This speed significantly improves the user experience and makes transaction processing more efficient.
3️⃣LSD track comparison and puffer positioning
Total Supply: 1,000,000,000
Initial supply: 102,300,000 (10.23%)
Puffer’s last round of financing was US$18 million, with a valuation of US$200 million and a current TVL of US$1.3 billion.
The leader Ether.Fi raised $27 million in its last round of financing. Its current FDV is $1.6 billion and its TVL is $5.6 billion.
Renzo, whose fundamentals are closer to Puffer, raised US$10 million in its last round of financing. Its current FDV is US$450 million and its TVL is US$925 million.
But unfortunately, Puffer’s timing for listing was not very good, and the valuation of the entire track is currently suppressed.
When I opened PUFFER, the price was $0.32, and the corresponding market value was only $32 million. It was at the lowest point when the tweet was posted. Puffer's financing amount was more than 20 million US dollars. Compared with Puffer's financing amount, it was almost the same as the last round of institutional prices.
In addition, the market has not yet priced Puffer's unique liquidity re-staking mechanism, Rollup-based expansion solution and efficient pre-confirmation service well. The current odds are higher than ETHFI and REZ. If priced according to fundamentals, its price should be above $0.45. The current price can be regarded as a valuation return, and money has been earned from value investment.
