Original | Odaily Planet Daily (@OdailyChina)
Author | Asher (@Asher_ 0210 )
On October 10, the Ethereum re-staking protocol Puffer Finance announced the PUFFER token economics, of which 7.5% was used for the first season of Crunchy Carrot Quest airdrop. In addition, in the following days, Gate.io, Bitget, Huobi HTX, and KuCoin announced that they would launch PUFFER at 8 pm on October 14.
Puffer Finance said that the Crunchy Carrot Quest Season 1 snapshot was completed on October 5, and the token claim window will be open from October 14, 2024 to January 14, 2025 (token claim link: https://claims.puffer.fi/). At the same time, Crunchy Carrot Quest Season 2 has been launched, and 5.5% of the tokens will be used as airdrop rewards for Season 2 activities. Next, Odaily Planet Daily will take you to understand the Puffer Finance project, the token economic model, and the Crunchy Carrot Quest Season 2 activities.
Project Introduction
Image source: Official Twitter
As a native liquidity re-staking platform built on EigenLayer, Puffer Finance accumulates PoS and re-staking rewards by introducing native liquidity re-staking tokens (nLRT). Its core goal is to further enhance the decentralization of Ethereum by maintaining the "trusted neutrality" of Ethereum. In the fierce market competition, Puffer Finance uses the concept of distributed and decentralized computing nodes, and uses TEE trusted execution environment technology and hardware support such as SGX to achieve node anti-severance, ensure the security of pledged assets, and bring more benefits and rewards to users.
In May 2023, Puffer Finance received a grant from the Ethereum Foundation to support its open source remote signature tool Secure-Signer; in August of the same year, it announced the completion of a $5.5 million seed round of financing. This year, Puffer Finance received a strategic investment from Binance Labs and announced in April that it had completed a $18 million Series A financing, demonstrating its continued rapid development momentum.
DefiLlama data shows that as of today, Puffer Finance ranks second in TVL among Ethereum liquidity staking protocols, with over US$1.333 billion, making it a leading project in this sector.
Token Economics
According to official documents, the total supply of Puffer Finance token PUFFER is 1,000,000,000, and the TGE supply accounts for 10.23% of the total, which is 102,300,000. The specific distribution ratio is as follows:
Ecosystem & Community: 400,000,000 PUFFER, or 40% of the total supply, to build a vibrant and engaging ecosystem, reward community support and ensure continued growth;
Support Ethereum core development: 10,000,000 PUFFER, accounting for 1% of the total supply. According to the agreement, this part of the tokens will be used to support Ethereum core development and will be unlocked 4 years after TGE;
Season 1 airdrop: 75,000,000 PUFFER, accounting for 7.5% of the total supply. This part of the tokens is used to reward early supporters of Puffer who participated in the first season of Crunchy Carrot Quest. TGE unlocks 65% of this part, and the rest will be gradually released in the next 6 months;
Season 2 Airdrop: 55,000,000 PUFFER, or 5.5% of the total supply, will be used to reward participants in the second season of Crunchy Carrot Quest, which was launched on October 5th.
Core team and advisors: 200,000,000 PUFFER, 20% of the total supply, which will be locked in TGE for one year and then released gradually over the next two years;
Investors: 260,000,000 PUFFER, 26% of the total supply, which will be locked in TGE for one year and then gradually released over the next two years.
PUFFER Token Economic Model
Crunchy Carrot Quest Season 2 event has started
At the end of the first season of Crunchy Carrot Quest, the second season has been launched. At the same time, because Puffer Finance is a strategic investment project of Binance Labs, its security is relatively guaranteed. For those who missed the first season airdrop and have ETH in their wallet, don’t miss the second season airdrop to get more "passive income" for the ETH in your wallet. The specific operation tutorial is as follows.
Interactive website: https://claims.puffer.fi/
STEP 1. After entering the interactive website, click "Join now" under the Airdrop Season 2 column.
STEP 2. Click “Launch Quest” and connect your wallet in Chapter 4.
STEP 3. Click “Stake” to stake. You can stake ETH, stETH (you can get stETH by staking ETH from Lido), and wstETH.
Previously, due to the error of the third-party platform data provided by zkLink Nova, the EIGEN airdrop of some Puffer Finance users was diluted. To compensate the affected users, Puffer Finance officially purchased 476,000 EIGEN (worth approximately $1.869 million) from the secondary market out of its own pocket to fully compensate the affected users, showing great sincerity. Therefore, whether this Puffer Finance token airdrop will become a "luxury feast" for the "money-pulling party" will be revealed at 8 pm on October 14.
