LSD protocol Puffer Finance completes $5.5 million seed funding round led by Lemniscap and Lightspeed Faction

The LSD protocol Puffer Finance announced the completion of a $5.5 million seed round of financing, led by Lemniscap and Lightspeed Faction, with other participating institutions including Brevan Howard Digital, Bankless Ventures, Animoca Ventures, Kucoin Ventures, DACM, LBK, SNZ, Canonical Crypto, as well as community funds 33DAO, WAGMI33, and Concave. Angel investors include Anand Iyer (Lightspeed partner), Sreeram Kannan (Eigen Layer founder), Frederick Allen (Coinbase staking business director), Shenyu (co-founder of F2pool and Cobo), BlockSenor (Curve core contributor), Ramble (President of the North American Blockchain Association), Calvin Liu (Chief Strategy Officer of Eigen Layer), Richard Malone (Chief Business Officer of Obol), and Ladislaus von Daniels (staking community leader).

LSD Protocol Puffer Finance to Develop Secure-Signer

The current round of funding will be used to further develop Puffer Finance's open-source project "Secure-Signer," aimed at preventing validators from being penalized during the verification process. The project has received a $120,000 grant from the Ethereum Foundation and has core researcher Justin Drake as an advisor. Additionally, Puffer Finance is creating a permissionless staking pool that reduces the threshold for individual validators to participate from 32ETH to 2ETH, enhancing capital efficiency.

Puffer Finance received a $650,000 pre-seed investment in June last year, led by Jump Crypto with participation from Arcanum Capital and IoTeX.