Shenfish

The LSD protocol Puffer Finance has completed a $5.5 million seed round financing, led by Lemniscap and Lightspeed Faction

ChainCatcher news, the LSD protocol Puffer Finance announced the completion of a $5.5 million seed round financing, led by Lemniscap and Lightspeed Faction, with other participating institutions including Brevan Howard Digital, Bankless Ventures, Animoca Ventures, Kucoin Ventures, DACM, LBK, SNZ, Canonical Crypto, as well as community funds 33DAO, WAGMI33, and Concave. Angel investors include Anand Iyer (Lightspeed partner), Sreeram Kannan (founder of Eigen Layer), Frederick Allen (head of staking business at Coinbase), Shen Yu (co-founder of F2pool and Cobo), Mr. Block (core contributor at Curve), Ramble (president of the North American Blockchain Association), Calvin Liu (chief strategy officer of Eigen Layer), Richard Malone (chief business officer of Obol), and Ladislaus von Daniels (staking community leader).This round of financing will be used to further develop Puffer Finance's open-source project "Secure-Signer," aimed at preventing validators from potential slashing during the validation process. This project has received a $120,000 grant from the Ethereum Foundation, with core researcher Justin Drake participating as an advisor. Additionally, Puffer Finance is creating a permissionless staking pool that lowers the participation threshold for independent validators from 32 ETH to 2 ETH, enhancing capital efficiency.Puffer Finance received a preliminary seed round investment of $650,000 last June, led by Jump Crypto, with participation from Arcanum Capital and IoTeX.
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