Binance Labs, the venture and incubation arm of Binance, invests in Puffer, a decentralized inclusive protocol of native liquidity restaking (nLRP), which combines Ethereum liquidity staking with native restaking on EigenLayer. Funds invested will be used to develop Puffer's open source technologies, its nLRP and new Actively Validated Services (AVS) created as part of Puffer's vertical infrastructure, including Layer 2 (L2). Puffer will offer its native restaking token (nLRT) to BNB Chain users to earn rewards for participating in the Ethereum PoS and restaking mechanism.
Ethereum validators currently face high costs and risks, often leading to institutional control and centralization. Puffer aims to democratize Ethereum staking by reducing the operational risks and costs associated with validation, making it affordable for validators who work from home.
Yi He, co-founder of Binance and head of Binance Labs, commented: "At Binance Labs, we are always committed to supporting innovative early-stage DeFi projects, and we look forward to working closely with the founders of these projects for their long-term development."
Puffer vertical infrastructure
Puffer's first innovation received a grant from the Ethereum Foundation. Its Secure-Signer remote signature tool allows validators to reduce the risk of slashing by increasing capital efficiency within the Puffer protocol. As a research company, Puffer, in collaboration with Ethereum Foundation Principal Researcher Justin Drake, published an analysis of the security currently used by the Scroll blockchain and the mechanisms for pools , which inspired changes to the Ethereum roadmap.
As part of its strategy, Puffer plans to launch its upcoming L2 as EigenLayer AVS. The move is expected to have network effects, especially as more AVSs benefit from the economic security that Puffer provides. This integration plays a key role in increasing the rewards for the inclusive Puffer validators. This not only encourages participation, but also helps to strengthen the decentralization of Ethereum.
"As Puffer continues to evolve, our unique approach, supported by collaboration with renowned researchers, increases the profitability of validators by promoting the decentralization of Ethereum and protecting its infrastructure with EigenLayer. We are incredibly excited to lay a strong foundation for the future of decentralized trust, ensuring a sustainable and developed ecosystem for years to come." ", said Amir Foruzani, founder of Puffer.
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About Puffer
Puffer is a decentralized native liquidity restaking protocol (nLRP) built on EigenLayer. It introduces native liquid restaking tokens (nLRT) that accumulate rewards for participating in the PoS and restaking mechanism. Nodes within the protocol use Puffer technology to reduce risk and increase capital efficiency, while increasing their rewards through native restaking. For more information, visit the Puffer website.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs is now valued at over US$10 billion. Its portfolio covers 250 projects from more than 25 countries on 6 continents and has more than 14 times ROI. Fifty Binance Labs portfolio companies are projects that have passed through our incubation programs. For more information, subscribe to Binance Labs at X.
Disclaimer: The information contained in this article is for informational purposes only and does not constitute investment advice, endorsement, analysis or recommendation of any financial instrument, investment or issuer. This article may contain forward-looking statements that are inherently subject to risks and uncertainties. Investments in cryptocurrency and DeFi projects are associated with significant risk, including the risk of total loss. This article does not take into account the investment objectives, financial situation or specific needs of any particular individual, and each user is advised to consult their own legal and financial advisors before making any investment decisions.
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