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High Tech Series A Founded 2022

Puffer Finance

Puffer Finance is a decentralized Ethereum infrastructure protocol that provides anti-slashing liquid restaking and layer 2 solutions for the Ethereum ecosystem. The platform's core product, Liquid Restaking, enables users to stake ETH and receive pufETH, earning Ethereum staking rewards combined with EigenLayer and Puffer Finance's restaking rewards. Puffer's anti-slashing technology protects validators from…

📍 United States · Blockchain Infrastructure,

Funding snapshot

Last roundSeries A
Amount$18M
Date16 April 2024
Total raised$24M
Valuation200,000,000 (Apr 16, 2024)
Team size24

About

Puffer Finance is a decentralized Ethereum infrastructure protocol that provides anti-slashing liquid restaking and layer 2 solutions for the Ethereum ecosystem. The platform's core product, Liquid Restaking, enables users to stake ETH and receive pufETH, earning Ethereum staking rewards combined with EigenLayer and Puffer Finance's restaking rewards. Puffer's anti-slashing technology protects validators from penalties through innovative bond requirements that facilitate at-home staking with reduced capital requirements. The protocol's product suite includes UniFi, a based rollup (L2) to Ethereum offering instant L1 withdrawals and sub-second transactions; Puffer Preconf, a fast and secure preconfirmation service built on EigenLayer enabling sub-second transaction confirmations for based rollups; and Puffer Institutional, providing cutting-edge institutional-grade infrastructure for Ethereum staking. Puffer has partnered with Anchorage Digital to offer pufETH exposure to institutional clients, enabling regulated access to Ethereum-native restaking yields. The protocol features a governance token ($PUFFER) with up to 24x boosting power, and has been audited by leading security firms with grants from EigenCloud. Puffer attracted nearly $200M in total ETH staked on its first day of mainnet operation. Founded in 2022 and headquartered in the United States, Puffer Finance has raised $24.1M in Series A funding from investors including Brevan Howard, Electric Capital, Coinbase, Lemniscap, Franklin Templeton Investments, Fidelity Investments, Mechanism Capital, Animoca Brands, Consensys, GSR, Faction VC, Krakenventures, Binance Labs, Bankless Ventures, Digital Asset Capital Management, SNZ, Canonical, and Animoca Ventures.

Business model

Blockchain Infrastructure > Mining > Software > Pool Mining > Staking,

Cryptocurrencies > Mining > Pool Mining > Staking

Team background

College Wise > Monash University

Institutional investors

Brevan Howard Electric Capital Coinbase Lemniscap Franklin Templeton Investments Fidelity Investments Mechanism Capital Animoca Brands Consensys GSR Faction VC Krakenventures Binance Labs Bankless Ventures Digital Asset Capital Management

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