Currency Introduction

Puffer Finance (PUFFER Token) is a decentralized native liquidity re-staking protocol built on Eigenlayer, aimed at making Ethereum staking more accessible and profitable. By allowing anyone to operate an Ethereum validator with less than 2 ETH, Puffer lowers the barrier for individual stakers and promotes decentralization. It provides slashing protection through advanced hardware and allows validators to earn more rewards by re-staking ETH. Stakers can profit from Ethereum's proof-of-stake and re-staking rewards without managing their own validators. Puffer's system prioritizes security, capital efficiency, and promotes Ethereum's decentralization, while providing competitive rewards for node operators and stakers. Notably, the project has also received funding from the Ethereum Foundation.

Token Functions

$PUFFER is the key governance token in the Puffer and UniFi ecosystems, playing several important roles:

1. Governance Participation: $PUFFER holders will be able to influence the development of Puffer LRT, Puffer UniFi, and UniFi AVS. Specifically, holders will participate in deciding key protocol parameters (such as fees, limits, staking requirements), selecting guardians, and more.

2. Reward Management: The three main products of the Puffer ecosystem (Puffer LRT, UniFi AVS, and UniFi Rollup) will generate rewards, and token holders have the right to manage these rewards, ensuring they are effectively used to support the growth and technological innovation of the entire ecosystem.

3. Promoting Decentralization: The design of $PUFFER aims to facilitate decentralized governance of the Puffer ecosystem. By introducing the vePUFFER governance mechanism, users can earn vePUFFER NFTs by locking $PUFFER tokens, accumulating voting power. This mechanism is designed to reward long-term participation while providing users with flexibility to unlock their tokens at any time. This maintains long-term community engagement while ensuring the liquidity of individual assets.

Token Distribution

The total supply of $PUFFER is 1 billion tokens (initial supply of 102,300,000 tokens).

Airdrop Rewards: 13%

Ecosystem and Community: 40%

Supporting Ethereum Development: 1%

Early Contributors: 20%

Investors: 26%