Puffer Labs

Excited to announce the close of our $18M Series A led by Brevan Howard Digital and Electric Capital to propel Ethereum decentralization! Others investors include Lemniscap, Faction VC, Coinbase Ventures, Franklin Templeton, Avon Ventures, Kraken Ventures, GSR Ventures among others. With this Series A funding, we are on the brink of launching Puffer's Mainnet, a move set to enhance Ethereum's decentralization and redefine the Liquid Restaking landscape. https://lnkd.in/ggDXZvmE

Our latest report: “Make Ethereum Whole Again: Sequencing the Future with Based Rollups and Preconfirmations”, delves into based rollups and preconfirmations. What are they? How do they work together? And what problems are they solving? https://lnkd.in/eBJJNZXk Ethereum's rollup-centric roadmap has accelerated transactions, reduced costs, and enabled new low-latency dapps. Yet, it has also led to fragmentation and centralization issues at L2, and doubts about value accrual at L1. On top of that, the traditional single-sequencer rollup poses risks of rent extraction and censorship. Shared sequencer layers decentralize this process and offer a unified transaction ordering mechanism across multiple rollups, but a new layer means new trust assumptions. Based rollups offer an alternative solution - the key distinction being, who is sequencing? Instead of a centralized sequencer or shared layer, based rollups re-use Ethereum builders to pick up pending transactions in L2 mempools and order them. As these builders sequence both the L1 and L2 blocks, there is no need to rely on the L2 single sequencer to manage transaction sequencing. Instead, the design leverages Ethereum’s existing validators, providing a reliable and credibly neutral transport layer. But while based rollups offer various advantages in terms of decentralization, security, and economic alignment, they simply cannot provide fast transaction confirmations like centralized sequencers due to Ethereum's block time constraints. Justin Drake proposed based preconfs in Nov 2023 to solve this constrant. This approach involves Ethereum L1 proposers offering credible promises of future tx execution for tips, and these promises can be made very fast. The benefits for Ethereum's UX are manifold: stronger assurances than soft confirmations, fast commitments (~20 ms in Taiko Labs test env), gasless txs (in Puffer Labs design), social alignment, x-chain atomic inclusion, and the promise of synchronous composability. Ethereum is having its "Fedwire moment." Just as Fedwire enabled seamless transactions across regional banks, shared sequencers and now based preconfirmations could unify rollups, facilitating efficient and decentralized asset transfers across the Ethereum universe. Based preconfs are also important wrt L1-L2 economics. EIP-4844 blobs have slashed L2 costs by substantially reducing base layer DA costs, but also cut Ethereum's revenue and burn rates. Post-EIP-4844, margins going to L2s are at ATHs and Ethereum revenue is down ~70%. "Going based" could balance L1-L2 economics by improving composability and "growing the pie" for all L2s, introducing preconf tips at L1, and making MEV extraction more efficient. Overall, fostering a more integrated Ethereum ecosystem.

Good morning and Happy Friday, everyone! 🌟 Excited to share an amazing new podcast episode with you all today. In this episode, we explore how Based Rollups can empower even the smallest fish to thrive in the largest pond, featuring insights from Amir Forouzani at Puffer Labs.🐟🌊 Discover the world of based rollups in Ethereum and how they revolutionize the game for all roll up players and projects. 🚀 Tune in and explore the endless possibilities! 🎧 Listen here: [https://lnkd.in/eNC88djQ] 🎙️ #Crypto #Podcast #Ethereum #BasedRollups #GameChanger

👀 Sneak peek of our side-event BXL MasterMind Meetup during EthCC Brussels. You missed it? 📽 Full recording of the panels will be shared soon 🗓 ... And stay tuned! We are cooking something for the week of Token 2049 / Solana Breakpoint in Singapore in September 👉 Follow me and 🔔 ********************* EthCC BXL MasterMind Meetup was - Curated by SwissBorg, in close collaboration with CoinW and Aethir - Co-hosted with Pyth Network, Morpho Labs, Puffer Labs and PyratzLabs - Media partners Journal du Coin, Cointelegraph - Local coordination by Cryptosquare Many thanks to Roudi Hamzeh, Masha Prusso, Edouard Estour, Alexandre F. and Dany Chea for your trust and strong support!

Great insights shared by Binance Labs Senior Investment Director, Alex Odagiu, on #DeFi and Liquid Restaking Tokens #LRTs at AltLayer Rollup Day in Brussels. He was joined on the panel by COO of AltLayer, Amrit Kumar, Core Contributor of Puffer Labs, Amir Forouzani and Founding Contributor of Renzo Protocol, Kratik Lodha, moderated by Senior Director at IOSG Ventures, Ray Xiao. #BinanceLabs #venturecapital #entrepreneurship #funding #BUIDL

Welcome our partner Puffer Labs as a co-host of http://restaking.day! Join us on July 9th in Brussels at ETH CC

New sponsorship announcement! 📣 We’re thrilled to share that Ethereum native liquid restaking protocol, Puffer Finance (Puffer Labs) will be joining as a core sponsor of #EDCON2024! 🎊 Learn more about Puffer & how to leverage liquid restaking here👇 https://www.puffer.fi/

Episode 09: Estimating Expected Yields From Liquid Restaking with Puffer's Jason Vranek On the ninth episode of Infinite Jungle, Christine Kim summarizes All Core Developers Consensus (ACDC) Call #130, where developers agreed to include MaxEB in the next Ethereum upgrade Electra. Christine also chatted with Jason Vranek, Co-Founder and CTO of Puffer Labs, about liquid restaking. Listen to this week's episode on your favorite platform 🍃 🐆 YouTube: https://lnkd.in/gxk7-eEk Spotify: https://lnkd.in/g4grzdUp Apple Podcasts: https://lnkd.in/gfzzRjYK

Liquid restaking is a hot topic in the Ethereum ecosystem. On this week's episode of Infinite Jungle, I chat with Puffer Labs's co-founder and CTO Jason Vranek about how liquid restaking works, as well as the risks and rewards associated with restaking. Vranek estimates an additional half a percent yield from restaking to be redistributed to Puffer liquid restaking token holders. However, he admits there are still many open questions about how restaking will work once the first set of actively validated services launches on EigenLayer. "We're still in the wild west here in terms of like EigenLayer protocol being very in this nascent state. There's a lot of features that will eventually be added." said Vranek. To listen to our full conversation, check out the latest episode of Infinite Jungle: https://lnkd.in/dp3z5KTY

The blockchain ecosystem, particularly #Ethereum, has grown exponentially, introducing a variety of smart contract standards that enhance the functionality of tokens. Among these, the #ERC20 standard for fungible tokens has become a cornerstone of the Ethereum blockchain. This blog post aims to demystify two critical aspects of ERC20 tokens — approval and permit functions — and provide best practices to prevent being scammed by phishing websites that exploit these features. 👇 #Ethereum #crypto https://lnkd.in/eSdGqEta