Puffer Finance Surpasses $850 Million in Total Locked Value (TVL)
Positive news for Puffer Finance, as it has reached a total locked value (TVL) of over $850 million since its launch on February 1st. It now ranks as the second-largest liquid restaking protocol on Ethereum.
Puffer Finance Establishes Itself as a Leader in Liquid Restaking
Puffer Finance’s TVL has reached $850 million, making it the second-largest protocol in the liquid restaking category. The platform allows users to deposit ether and receive a liquid staking token, generating returns through ETH staking and restaking.
Within days of its launch, Puffer Finance surpassed similar projects like Renzo and Kelp DAO, securing the second position among liquid restaking protocols. It has also implemented a five-phase points program to promote adoption.
Puffer Finance Stands Out in Adoption
Puffer Finance’s anti-slashing tool may be one reason behind its increasing adoption. This tool allows validators to mitigate the risk of penalties while improving capital efficiency.
According to Charles Booth from Parsec Finance, the rapid increase in TVL could make Puffer Finance the leading native liquid restaking protocol in the future.
The Partnership with BlockSec Phalcon for Advanced Security
BlockSec Phalcon and Puffer Finance have joined forces to enhance security and reliability. BlockSec Phalcon provides advanced monitoring of attacks and automatic blocking, ensuring robust security.
This collaboration aims to improve security restoration through continuous monitoring, proactive attack prevention, and timely emergency response. Puffer Finance leverages BlockSec Phalcon’s advanced security to protect its users and ensure the complete protection of blockchain resources from various threats.
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