{"id":10267,"date":"2024-01-30T17:33:35","date_gmt":"2024-01-30T15:33:35","guid":{"rendered":"https:\/\/forklog.com\/en\/binance-invests-in-puffer-finances-liquid-restaking-protocol\/"},"modified":"2024-01-30T17:33:35","modified_gmt":"2024-01-30T15:33:35","slug":"binance-invests-in-puffer-finances-liquid-restaking-protocol","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-invests-in-puffer-finances-liquid-restaking-protocol\/","title":{"rendered":"Binance Invests in Puffer Finance&#8217;s Liquid Restaking Protocol"},"content":{"rendered":"<p>Binance&#8217;s venture arm has invested an undisclosed amount in the Ethereum-based liquid restaking protocol Puffer Finance, which operates on EigenLayer.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019ve invested in <a href=\"https:\/\/twitter.com\/puffer_finance?ref_src=twsrc%5Etfw\">@puffer_finance<\/a>!<\/p>\n<p>Puffer is a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer.<\/p>\n<p>Read more?<a href=\"https:\/\/t.co\/O2jjMS0sUa\">https:\/\/t.co\/O2jjMS0sUa<\/a><\/p>\n<p>\u2014 Binance Labs Fund (@BinanceLabs) <a href=\"https:\/\/twitter.com\/BinanceLabs\/status\/1752316821687181678?ref_src=twsrc%5Etfw\">January 30, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The project will use the funds to develop a second-layer network that will function as an &#8220;actively validated service&#8221; on EigenLayer.\u00a0<\/p>\n<p>Puffer plans to launch a native token, pufETH, which will be available to BNB Chain users as rewards for staking and restaking.\u00a0<\/p>\n<p>Additionally, the developers will reduce the collateral requirement for validators from 32 ETH to 2 ETH.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis collaboration marks a significant milestone in decentralized liquid staking, laying the foundation for a strengthened and accessible Ethereum ecosystem through EigenLayer technology,\u201d <a href=\"https:\/\/twitter.com\/puffer_finance\/status\/1752324672903942165\">stated<\/a> the Puffer team.\u00a0<\/p>\n<\/blockquote>\n<p>The project has already attracted funding from other major investors, including Brevan Howard Digital, Jump Crypto, and Lightspeed Faction. In August 2023, Puffer <a href=\"https:\/\/www.prnewswire.com\/news-releases\/puffer-finance-raises-5-5m-seed-funding-to-strengthen-ethereum-decentralization--scalability-301896002.html\">closed<\/a> a seed round of $5.5 million.\u00a0<\/p>\n<p>Previously, the startup received $650,000 in initial funding and a $120,000 grant from the Ethereum Foundation.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBy lowering entry barriers, anyone can launch a Puffer node from their home to manage Web3 infrastructure and play a key role in shaping a censorship-resistant network,\u201d emphasized Puffer Finance co-founders Amir Forouzani and Jason Vranek.<\/p>\n<\/blockquote>\n<p>Earlier in January 2024, the institution-focused staking platform Kiln <a href=\"https:\/\/u1f987.com\/en\/news\/kiln-raises-17-million-for-global-expansion\">closed<\/a> a $17 million funding round led by 1kx.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance&#8217;s venture arm has invested an undisclosed amount in the Ethereum-based liquid restaking protocol Puffer Finance, which operates on EigenLayer. We\u2019ve invested in @puffer_finance! Puffer is a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer. Read more?https:\/\/t.co\/O2jjMS0sUa \u2014 Binance Labs Fund (@BinanceLabs) January 30, 2024 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1289,1263,1133],"class_list":["post-10267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-cryptocurrency-staking","tag-restaking","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10267"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10266"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}