According to Odaily Planet Daily, Puffer Finance posted on the X platform that it has exchanged 10,000 stETH for ETH. Previously, Puffer Finance announced that it had begun to convert stETH (with a total value of approximately US$1.36 billion) to ETH within the protocol, and the first redemption transaction has now been completed. Puffer Finance added that the conversion of stETH to ETH is to improve the centralization of Ethereum staking. It is expected that after the conversion is completed, stETH's dominance in Ethereum staking will drop by 1%. All redeemed stETH will be used to provide staking support for Puffer Finance's own verification nodes after conversion to ETH, and users do not need to perform any operations during this period.
