Odaily Planet Daily News: Puffer Finance, the Ethereum liquidity re-staking protocol, announced on X that it has begun to convert stETH (total value of approximately US$1.36 billion) within the protocol to ETH, 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.