Binance new invest in RESTAKİNG

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30 Jan 2024
61

Hello.

@BinanceLabs 's reStaking platform announced investment @puffer_finance I participated in 's quest missions. I think ReStaking platforms will reach an important point. For this reason, I will not ignore the project that received investment from Binance.

For now, you need to link your Wallet and X account and follow Puffer. 📍 Step by step, other tasks will come and we will also do the reStake process. I will continue to inform you as details become available. 🔗 https://quest.puffer.fi/chapter1 Note: X account was not connected at once, I spammed it a bit.


Binance Labs, the venture capital and incubation arm of Binance, has invested in Puffer, a decentralized and permissionless native liquid restaking protocol (nLRP) that combines Ethereum liquid staking with native restaking on EigenLayer. The invested funds will be used to develop Puffer’s open-source technologies, its nLRP, and novel actively validated services (AVSs) built as part of Puffer’s verticalized infrastructure including a Layer 2 (L2). Puffer will bring its native liquid restaking token (nLRT) to BNB Chain users so they can earn Ethereum PoS and restaking rewards.
Ethereum validators currently face high costs and risks, often leading to institutional control and centralization. Puffer aims to democratize Ethereum staking by reducing operational risks and costs associated with validating, making it viable for at-home validators. 
Yi He, Co-Founder of Binance and Head of Binance Labs, commented: "At Binance Labs, we always look to support innovative DeFi projects during their early stages, and we look forward to working closely with DeFi founders towards their long-term growth."
Puffer’s Verticalized Infrastructure
Puffer’s first innovation received a grant from the Ethereum Foundation. Its Secure-Signer remote signing tool, allows validators to reduce the risk of slashing while enhancing capital efficiency within Puffer’s protocol. As a research oriented company, Puffer, in collaboration with Ethereum Foundation core researcher Justin Drake, have published security research that is being used by Scroll and mechanisms for pools that inspired changes to the Ethereum roadmap. 
As part of its strategy, Puffer plans to run their upcoming L2 as an EigenLayer AVS. This move is expected to generate network effects, particularly as more AVSs come into play and benefit from the economic security provided by Puffer.This integration plays a pivotal role in increasing the rewards for Puffer's permissionless validators. This not only incentivizes participation but also contributes to reinforcing the decentralization of Ethereum. 
“As Puffer continues to develop, our unique approach, supported by collaborations with eminent researchers, elevates validator profitability, contributing to Ethereum's decentralization and securing its infrastructure with EigenLayer. We are incredibly excited about laying a robust foundation for the future of decentralized trust, ensuring a resilient and thriving ecosystem for years to come.” said Amir Forouzani, Founder of Puffer.

About Puffer
Puffer is a decentralized native Liquid Restaking Protocol (nLRP) built on EigenLayer. It introduces native Liquid Restaking Tokens (nLRTs) that accrue PoS and restaking rewards. Nodes within the protocol leverage Puffer’s anti-slashing technology to enjoy reduced risk and increased capital efficiency, while supercharging their rewards through native restaking. For more information, visit Puffer.@puffer_finance
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