Drive towards mainnet launch with $18 million funding round
Key Takeaways
- Puffer Finance raised $18 million in a Series A round led by Brevan Howard Digital and Electric Capital, among other notable investors.
- These funds will fuel Puffer’s mainnet launch.
- The company has already seen significant pre-launch interest with over $1 billion in deposits.
Puffer Finance, a liquidity re-staking protocol, closed successfully. $18 million Series A funding round as we prepare for mainnet launch.
The financing round was led by Brevan Howard Digital and Electric Capital; Along with contributions from other renowned investors such as Coinbase Ventures, Kraken Ventures, Franklin Templeton and Fidelity.
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Operating as an Actively Verified Service (AVS) on EigenLayer, Puffer enhances the Ethereum ecosystem by: Users can deposit ETH tokens, which are then staked back to support network security and functionality.
In return, users Receive Puffer’s exclusive token, pufETH, It represents a deposit and can be traded or used for other financial transactions. This mechanism strengthens network security, increases liquidity, and provides stakers with greater flexibility.
As of March, Puffer had already accumulated over $1 billion in deposits; This indicates strong interest in the resale model. Puffer CEO Amir Forouzani expressed optimism about the future of the project and its upcoming mainnet launch.
We aim to provide the most advanced securitization resale protocol while significantly reducing the barriers to participation for home validators. This is an important step forward for the decentralization of Ethereum and the broader re-staking ecosystem.
The funding round will allow Puffer to further develop its technology and expand its influence in the Ethereum ecosystem.
In other Ethereum-related news, investment management firm VanEck recently predicted that the Ethereum layer-2 network could reach a valuation exceeding $1 trillion by 2030.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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