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LSD Protocol Puffer Finance Completes $5.5 Million Seed Round Led by Lemniscap and Lightspeed Faction

2023-08-08 21:01:18BlockBeatsShare to:

BlockBeats news, on August 8, LSD protocol Puffer Finance announced the completion of a $5.5 million seed round of financing, led by Lemniscap and Lightspeed Faction, other participating institutions include Brevan Howard Digital, Bankless Ventures, Animoca Ventures, Kucoin Ventures, DACM, LBK, SNZ, Canonical Crypto, and community funds 33DAO, WAGMI33, and Concave, etc. Angel investors include Anand Iyer (Lightspeed Partner), Sreeram Kannan (Eigen Layer Founder), Frederick Allen (Coinbase Pledge Business Director), Godfish (F2pool and Cobo Lianchuang), Mr. Block (Curve core contributor), Ramble (President of the North American Blockchain Association), Calvin Liu (Chief Strategy Officer of Eigen Layer), Richard Malone (Chief Business Officer of Obol) and Ladislaus von Daniels (Pledge Community leader). This round of financing will be used to further develop Puffer Finance's open source project "Secure-Signer", which aims to prevent validators from being confiscated during the verification process. This project has received 120,000 from the Ethereum Foundation Funding from US dollars, and core researcher Justin Drake himself participated in the advisory. Additionally, Puffer Finance is creating a permissionless staking pool that lowers the participation threshold for independent validators from 32 ETH to 2 ETH, improving capital efficiency. Puffer Finance received a pre-seed round investment of US$650,000 in June last year, led by Jump Crypto, with participation from Arcanum Capital and IoTeX.

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