Binance Labs Invests in Puffer to Support the Next Generation of Decentralized Liquid Restaking.
We’ve invested in puffer_finance!
Puffer is a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer.
New #fundraising -puffer_finance
🚀 Stage: Funding Round- Raised.
🚀 Total Raised: $ 6.27M
✨Category: DeFi
📅Date: 30 Jan, 2024
⚡️Investors: @BinanceLabs and more...
DeFi
PUFFER FINANCE
STAGE: FUNDING ROUND
Puffer is defining a new industry standard for secure validator operations with the primary objective of preserving decentralization.
TOTAL RAISED $6.27M
Binance Labs, the venture capital and incubation arm of Binance, has invested in Puffer, a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer. The invested funds will be used to develop Puffer’s open-source technologies, its nLRP, and novel actively validated services (AVSs) built as part of Puffer’s verticalized infrastructure including a Layer 2 (L2). Puffer will bring its native liquid restaking token (nLRT) to BNB Chain users so they can earn Ethereum PoS and restaking rewards.
Ethereum validators currently face high costs and risks, often leading to institutional control and centralization. Puffer aims to democratize Ethereum staking by reducing operational risks and costs associated with validating, making it viable for at-home validators.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented: "At Binance Labs, we always look to support innovative DeFi projects during their early stages, and we look forward to working closely with DeFi founders towards their long-term growth."
Puffer’s Verticalized Infrastructure
