Puffer Finance announced that it will collaborate with the Ethereum Foundation to jointly develop Base Rollups

2024-06-27 20:58:34

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ChainCatcher news, according to Cointelegraph, the liquid staking derivatives (LSD) project Puffer Finance, built on the Ethereum restaking protocol Eigenlayer, recently announced a collaboration with the Ethereum Foundation to jointly develop Base Rollups. Base Rollups alleviate the burden on layer one blockchains by processing transactions off-chain. Puffer Finance's LSD technology allows Ethereum validators to reduce the required capital from 32 ETH to 1 ETH, while simultaneously earning yields in other DeFi protocols through liquid restaking tokens (nLRT).

Currently, Puffer Finance's total locked value has exceeded $1.2 billion, having raised a total of $23.5 million in venture capital funding.

Previously, the project completed a $18 million Series A funding round to launch the mainnet.

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