Puffer Mainnet & Their Big Move Redeeming $1.7B of stETH

Jun 7, 2024

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Amir Forouzani and Jason Vranek are CoFounders of Puffer Labs. Justin Drake is a Researcher at The Ethereum Foundation.

In this episode, we cover Puffer Finance's Mainnet launch in May, as well as their ongoing campaign to redeem $1.7 billion of stETH to be converted to pufETH. Joined by Justin Drake from The Ethereum Foundation, we discuss why decentralization still matters, and how Puffer's protocol hopes to further contribute to decentralizing the Ethereum network.

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Timestamps

0:00 - Intro
5:14 - What differentiates Puffer as an LRT?
6:28 - Why does decentralization matter?
8:41 - Series A raise
10:39 - Principal agent problem
12:48 - Problems with rug-pooling
14:18 - How Puffer addresses trust issues
17:36 - How LRTs fit into Ethereum roadmap
19:55 - Risks of restaking
23:19 - Puffer Decentralization Campaign
27:35 - State of no slashing on EigenLayer
31:06 - Next steps for Puffer stETH redemptions
32:40 - Tellor mid-roll
33:09 - Blueberry mid-roll
33:38 - Delegating EIGEN tokens to Puffer
38:34 - When will pufETH withdrawals be enabled?
40:49 - What Justin's excited for on Eth roadmap
43:46 - Closing

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🔗 Guest Links 🔗

► Puffer Website: https://puffer.fi/
► Puffer Chapter 4 Guide: https://medium.com/@puffer.fi/a-guide-to-maximizing-points-and-airdrops-in-chapter-4-c36caf3bf17d
► Puffer on Twitter: https://x.com/puffer_finance
► Amir on Twitter: https://x.com/amironchain
► Jason on Twitter: https://x.com/jasnoodle
► Justin on Twitter: https://x.com/drakefjustin

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All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. DeFi Dad has been an advisor to Puffer since February 2023. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.