Puffer Finance, a popular project in the Ethereum staking arena, announced today that it has completed a $18 million Series A financing round. The round was led by Brevan Howard Digital and Electric Capital, with participation from well-known VC firms and institutions in both Web2 and Web3, including Coinbase Ventures, Franklin Templeton, Avon Ventures (a subsidiary of Fidelity), Kraken Ventures, Lemniscap, Lightspeed Faction, Consensys, Mechanism Capital, GSR Ventures, CoinSummer, Animoca Ventures, and many more.
Notable figures in the crypto industry, such as the co-founder of the largest mining pool F2Pool and the co-founder of Singapore-based crypto asset management company and custodian platform Cobo, also appeared on the list of angel investors. Additionally, Sandeep Nailwal, the co-founder of Polygon, also participated.
Puffer Finance is preparing to launch its mainnet. Last August, the project raised $5.5 million in seed funding led by Lemniscap and Lightspeed Faction. In January of this year, it received strategic investment from Binance Labs. With the support of the community, Puffer has already achieved a total locked value of $1.3 billion, solidifying its position in the field of liquid restaking.
The recently completed $18 million Series A financing will enable Puffer Finance to launch its mainnet and further strengthen Ethereum’s decentralization. Puffer’s goal is to democratize access to the Ethereum network by reducing the participation threshold for validators to 1 ETH. It aims to enhance Ethereum’s decentralization and improve the income of validators through its innovative restaking solution, which combines the Ethereum PoS yield with the restaking yield of Actively Validated Services (AVS), fundamentally changing the landscape of liquidity restaking.
Next, Puffer plans to enhance the ecosystem for pufETH holders and transform them into the central hub of Actively Validated Services (AVS) after the mainnet launch. This transformation is expected to drive the development of the Puffer community and enhance the product experience.
[Image: Puffer Finance Roadmap]
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