According to CoinDesk, the liquid re-pledge protocol Puffer has exceeded $1 billion in deposits in less than three weeks since its launch on February 1. Puffer is one of the representative projects of the liquid re-pledge trend in the decentralized finance (DeFi) field on Ethereum. Puffer and other liquid pledge protocols, such as Ether.Fi, bring investors' deposits to EigenLayer, allowing Ether (ETH) pledgers to earn interest by redeploying assets to third-party networks outside of Ethereum (called "active verification services" or AVS). Puffer issues liquid re-pledge tokens (LRT) called pufETH to users, representing their underlying deposits, allowing users to obtain tokens that can be traded or used again elsewhere while re-staking. Once EigenLayer's AVS is online, pufETH will earn interest, and users can choose to reinvest tokens in DeFi protocols for higher returns. Puffer and other liquid pledge platforms attract investors by providing a more convenient EigenLayer re-pledge channel and generous "points" incentives.

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