Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.
The round was led by Brevan Howard Digital and Electric Capital, with investments from Coinbase Ventures, Kraken Ventures, Lemniscap, Franklin Templeton, Fidelity, Mechanism, Lightspeed Faction, Consensys, Animoca and GSR, the company said in a press release.
The fresh round of capital will be used to help launch Puffer’s mainnet. Prior to this, Puffer raised $5.5 million, and is part of a class of protocols that have come out of the growing"restaking" field that has taken the Ethereum ecosystem by storm. EigenLayer, a restaking pioneer that launched last week, which lets Ethereum stakers earn yield for using their ETH tokens to help secure third-party platforms known as"actively validated services” . Puffer is an AVS on EigenLayer.
Puffer then hands out their own token, pufETH, to its users representing their deposit, allowing them to use that token for trading or for other purposes.“With our upcoming mainnet launch, we aim to significantly reduce the barriers for home validators to participate, while delivering the most advanced liquid restaking protocol,” said Amir Amir Forouzani, CEO at Puffer Finance. “This is a major step forward for Ethereum’s decentralization and the wider restaking ecosystem.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum liquid restaking protocol Puffer Finance reaches $200 million valuation in new token funding roundPuffer Finance has raised $18 million in a Series A funding round co-led by Brevan Howard Digital and Electric Capital.
Read more »
Liquid restaking platforms jump to near $8 billion in total value lockedIncreases in deposits have been observed in protocols like Etherfi, Renzo, Kelp, and Puffer, attributed to the integration with EigenLayer.
Read more »
Etherfi maintains lead in liquid restaking niche with over $3.8 billion in depositsEtherFi manages over 1.07 million ETH, amounting to approximately $3.8 billion in user deposits, holding lead in the liquid restaking market.
Read more »
Ethos works with liquid restaking protocols to secure Cosmos chains via EigenLayerEthos is being developed as a 'validated service' on EigenLayer — focusing on security for the Cosmos chains by utilizing ether stakes.
Read more »
EigenLayer Restaking Protocol Goes Live on Ethereum MainnetEigenLayer, a restaking protocol with over $13 billion in assets, has launched on the Ethereum mainnet. However, some crucial features, such as in-protocol payments and slashing mechanisms, are still to be released later this year.
Read more »
Restaking Emerges as Ethereum’s Second Largest DeFi Sector: ReportCrypto Blog
Read more »