Puffer Finance Breaks Down PUFFER Tokenomics Ahead Of Upcoming TGE
In Brief
Puffer Finance announced the tokenomics for its upcoming PUFFER token ahead of its token generation event.
Liquid restaking protocol built on EigenLayer, Puffer Finance announced the tokenomics for its upcoming PUFFER token ahead of its token generation event.
The total supply of PUFFER is set at 1 billion tokens, with the initial supply representing 10.23% of that amount. According to the PUFFER distribution plan, Puffer Finance will allocate 40% of tokens to the ecosystem and community, 26% to investors, 20% to early contributors and advisors, 7.5% for Airdrop Season 1, 5.5% for Airdrop Season 2, and 1% to the protocol guild.
Furthermore, in order to acknowledge its supporters, Puffer Finance has distributed 7.5% of the total PUFFER supply for community initiatives, including the Crunchy Carrot Quest. A snapshot for eligibility was taken on October 5th. Notably, the Crunchy Carrot Quest will continue into Season 2, offering users additional opportunities to earn points and increase their rewards.
Presently, community members can claim their tokens by visiting the Puffer Claims website. The claiming window will be available starting October 14th through January 14th.
PUFFER Token To Power Protocol’s Ecosystem
This is the upcoming governance token designed to allow individuals to engage actively within the Puffer and UniFi ecosystem. It will govern key protocol parameters, such as fees, limits, and bond requirements. It will also be used for selecting guardians and restaking operators, and curating supported Actively Validated Services (AVSs) across the Puffer LRT.
In the context of UniFi AVS, PUFFER will aid with the management of fee structures, whitelisting new rollups for AVS support, and overseeing security parameters for AVS. It will also guide the integration of new preconfirmation and proposer commitment services.
For UniFi Rollup, PUFFER will enable setting fee parameters for rollup transactions, directing ecosystem rewards to enhance adoption, managing treasury funds to ensure long-term sustainability, and guiding decisions regarding rollup upgrades and feature prioritization.
Puffer Finance started as a liquid staking protocol with the introduction of Puffer Liquid Staking Token (LST) and subsequently expanded its offerings to include liquid restaking on EigenLayer. As of the current writing, the protocol has accumulated over $1.3 billion in total value locked (TVL), based on data from DeFiLlama.
The project is developing UniFi, a solution designed to utilize Ethereum validators for transaction sequencing, along with UniFi AVSs, which serve as a preconfirmation service aimed at enhancing the speed of rollups.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
