Popular project Puffer Finance in the Ethereum staking race announced today (18th) that it has completed a Series A funding round of $18 million, and it has also announced the upcoming launch of its mainnet. In the future, the project will continue to promote Ethereum decentralization.
The $18 million Series A funding was led by Brevan Howard Digital and Electric Capital, with participation from well-known VC and institutions from 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, Leadblock Bitpanda Ventures, SNZ Capital, Breed VC, Cherubic Ventures, DeWhales Capital, Longhash, Inception, Mask Network, AP Capital, Formless Capital, Web3Port, StakeFish, A41, Everstake, Neuler, InfStones, Ebanker, Moonhill Capital, Swissborg, Bas1s Ventures, and Canonical Crypto.
Some big names in the crypto industry also appeared on the list of angel investors, such as the world’s largest mining pool F2Pool, and the co-founder of Singapore-based crypto asset management company and custodian platform Cobo, DiscusFish, as well as Sandeep Nailwal, co-founder of Polygon.
Puffer Finance had already raised $5.5 million in seed funding in August last year, led by Lemniscap and Lightspeed Faction, and received strategic investment from Binance Labs, the venture capital arm of Binance, in January this year. On this basis, the total locked value of Puffer has reached $1.3 billion, reflecting strong community support and solidifying its position in the field of liquid restaking.
The recently completed $18 million Series A funding will enable Puffer Finance to launch its mainnet, strengthen Ethereum decentralization, and redefine the landscape of liquidity restaking. Puffer aims to democratize access to the Ethereum network by lowering the participation threshold for validators to 1 ETH. It also aims to enhance the income of validators through its innovative restaking solution, by combining Ethereum’s PoS yield with the restaking yield of Actively Validated Services (AVS), thereby completely changing the landscape of liquidity restaking.
The next step for Puffer, after the mainnet launch, will be to enhance the ecosystem for pufETH holders and transform them into the central hub of Actively Validated Services (AVS). This transformation is expected to drive the development of the Puffer community and improve the product experience.