Puffer Finance Raises $5.5 Million in Seed Funding Round
Main Breakdowns:
– Co-led by Lemniscap and Lightspeed Faction
– Other investors include Brevan Howard Digital, Bankless Ventures, Animoca Ventures, and more
– Funding will be used to develop Puffer’s Secure-Signer product and create a permissionless staking pool
– Secure-Signer is a remote signing tool that mitigates risks for solo validators in Ethereum’s proof-of-stake network
– Puffer aims to lower barriers of entry for at-home stakers and promote decentralization
Blockchain infrastructure company Puffer Finance has raised $5.5 million in a seed funding round. The round was co-led by Lemniscap and Lightspeed Faction, with participation from several other investors including Brevan Howard Digital, Bankless Ventures, and Animoca Ventures. The funding will be used to accelerate the development of Puffer’s open-source Secure-Signer product and to create a permissionless staking pool. Secure-Signer is a remote signing tool that limits access to validator keys, reducing the risks of being penalized due to software bugs or user error. Puffer is also working on a protocol to lower the barriers of entry for at-home stakers, making it a viable alternative to centralized liquid staking providers. The founders of Puffer, Amir Forouzani and Jason Vranek, hope that their protocol will promote decentralization and allow anyone to participate in shaping a resilient and censorship-resistant Web3.
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