LRT re-staking project Puffer Finance introduction? Marketing activities ahead of the mainnet launch!

As the liquidity mining project for the collateralized token LRT continues to develop rapidly, Puffer Finance has successfully attracted market attention by lowering the threshold for validators, unique ticket design, and integrating EigenLayer to increase participant rewards. Yesterday, it also announced a new event allowing anyone to stake LST, with the Total Value Locked (TVL) surpassing $100 million on the first day.

This article is not investment advice.

Introduction to Puffer Finance

Puffer Finance Highlights: Low Barrier to Become a Validator

Puffer Finance aims to allow anyone to run a node on Ethereum as Node Operators, NoOps, and become validators with the barrier to entry reduced from 32 ETH to 1 to 2 ETH.

Maintaining a minimum threshold, instead of zero cost, is to make validators bear the risk of penalty reduction due to software and hardware errors. Those willing to run Puffer's anti-slasher protection program can provide just 1 ETH.

Running a node on Puffer allows for 100% execution and consensus rewards of the Ethereum PoS mechanism with no transaction fees involved.

Liquidity Staking: Supplementing the Remaining ETH

Who provides the remaining ETH? Puffer Finance offers a channel for other users to stake any amount of ETH and provide the remaining ETH. There are corresponding protective measures to reduce penalties to enhance the security of stakers' assets.

By staking, stakers can receive pufETH tokens that accumulate value and accumulate earnings from validator tickets.

Validator Tickets

Besides staking 1 to 2 ETH, validators need to purchase validator tickets daily to become validators.

The price of validator tickets is determined based on the validator's expected daily income and offers discounts to incentivize node purchases. The income goes into the treasury for ETH stakers and pufETH holders, directly impacting the expected annual return rate of pufETH. Selling validator tickets is the only source of rewards for pufETH until EigenLayer re-staking is live.

Using validator tickets helps validators reduce the barrier to long-term asset holding and enhances strategy flexibility, while stakers can receive rewards earlier.

Additionally, Puffer Finance has a staking cap to protect Ethereum's decentralization. If the number of validators built on Puffer Finance exceeds 22% of the total Ethereum stake, validator ticket minting will decrease to ensure it never exceeds 33%, ensuring Ethereum's decentralization and security.

Liquidity Re-staking: Enhancing Earnings with EigenLayer

In the future, validators can further deposit ETH into EigenLayer, take on more risks, and receive more rewards. These rewards can also increase earnings for ETH stakers.

Puffer Finance's advisors include many from the EigenLayer project team, including founder Sreeram Kannan and strategist Calvin Liu, indicating a close collaboration between the two projects, leading to significant market visibility and exposure for Puffer Finance.

How will the re-staking project EigenLayer change the Web3 infrastructure ecosystem?

Puffer Finance Marketing Activities

Crunchy Carrot Event: Capitalizing on Re-staking Narratives

While the Puffer Finance mainnet is still in development, most of the above functions are not yet active. However, the team seized the market's enthusiasm for re-staking narratives and launched the Crunchy Carrot event.

Exploring the opportunities and risks of the LRT project for liquidity re-staking tokens

Encouraging users to deposit stETH and wstETH into Puffer Finance, where the contract will automatically stake them in EigenLayer, allowing users to earn EigenLayer points and Puffer points simultaneously.

Crunchy Carrot Staking Tutorial

Visit the Puffer Finance event page, link your wallet and Twitter account, choose a team to join, and complete registration.

You will then see the familiar stETH and other liquidity token staking interface, accepting stETH and wstETH for this event, depositing after signing the token authorization.

Currently, Puffer Points are calculated based on the amount of tokens deposited, where 1 stETH equals 10000 Puffer Points, determining the ranking for the event.

This article is not investment advice.