What is Puffer (PUFFER)

I. Project Introduction

1. What Is Puffer?

Puffer is a native liquid restaking protocol based on the EigenLayer, offering capital-efficient staking solutions for Ethereum validators and stakers. Users can deposit ETH to receive pufETH, while benefiting from Ethereum staking rewards, EigenLayer restaking rewards, and protocol subsidies. Puffer also plans to roll out its next-generation infrastructure such as the UniFi rollup and Preconf AVS.

2. How Does Puffer Work?

Staking & Restaking: Users deposit ETH into the Puffer protocol and receive pufETH in return, and their ETH is simultaneously restaked to earn additional returns.

Validator Tickets Model: Node operators must hold Validator Tickets to run validators and thus provide incentives for node operators.

Security Mechanisms: The protocol employs anti-slashing technologies, secure signer, and RAVe among other components to mitigate slashing penalty risk and enhance protocol security.

Infrastructure Expansion: Puffer plans the launch of UniFi rollup, which offers rollup-based performance scaling, and Preconf AVS, which provides sub-second confirmation services.

Protocol Governance & Community: The PUFFER token is intended for governance, reward subsidies, liquidity incentives, and more.

3. Who Founded Puffer?

The Core Team: Amir Forouzani (CEO & co-founder) and Jason Vranek (CTO & co-founder)

Financing History: To date, the project has raised about $24.29 million across multiple rounds.

Supporting Investors: Investors include Brevan Howard Digital, Electric Capital, Coinbase Ventures, Lemniscap, GSR, and others.

4. Puffer Tokenomics

Token Name: PUFFER

Total Supply: 1,000,000,000

Circulating Supply: Approximately 197,525,813 tokens (about 19.75%)

Token Allocation and Vesting Schedule (According to the publicly available information):

Ecosystem & Community: 400,000,000 (40%)

Investors: 260,000,000 (26%)

Early Contributors & Advisors: 200,000,000 (20%)

Airdrop Season 1: 75,000,000 (7.5%)

Airdrop Season 2: 55,000,000 (5.5%)

Protocol Guild: 10,000,000 (1%)

Vesting and unlock mechanisms aren't disclosed in the publicly available information.

5. Timeline of Key Milestones

In 2022, Puffer launched its project, early R&D and architecture design.

In 2023, it invested in core development and gained grants from the Ethereum foundation.

In 2024, it integrated with EigenLayer and launched its testnet and basic protocol modules.

In 2025, it officially launched the PUFFER token and initiated Season 2 airdrop and utility mechanisms (e.g. vePUFFER, CARROT rewards).

Recently (in 2025), ETHZilla announced plans to deploy $47 million in ETH on the Puffer platform to enhance yields.

II. Cryptocurrency Information

1) Basic Information

Name: Puffer (PUFFER)

III. Related Links

Official Website:https://www.puffer.fi/

Whitepaper:https://docs.puffer.fi/

Blockchain Explorer:https://etherscan.io/address/0x4d1C297d39C5c1277964D0E3f8Aa901493664530

Social Media:

https://x.com/puffer_finance

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.