Summary
Binance Labs has invested in Puffer, a project that aims to bring Ethereum liquid restaking onto BNB Chain. The funds will be used to develop Puffer’s infrastructure, open-source technology, and Layer 2 network. Puffer plans to introduce its native liquid restaking token (nLRT) to BNB Chain users, allowing them to earn Ethereum PoS and restaking rewards. This move aims to democratize Ethereum staking by reducing operational risks and costs associated with validating. Puffer will utilize EigenLayer’s restaking protocol to secure its Layer 2 network. The emergence of liquid restaking tokens and EigenLayer’s increased LST pool limits have boosted EigenLayer’s total value locked (TVL) to over $2 billion.
Key Points
1. Puffer is launching a liquid restaking token on BNB Chain and deploying a Layer 2 network secured by EigenLayer.
2. Binance Labs has invested in Puffer to support its infrastructure development, open-source technology, and Layer 2 network. Puffer aims to democratize Ethereum staking by reducing operational risks and costs associated with validating, making it viable for at-home validators.
3. Puffer aims to become the first project to bring ETH restaking yields onto a network outside of the Ethereum ecosystem. The emergence of liquid restaking tokens and EigenLayer’s increasing LST pool limits have propelled EigenLayer to a more than $2B total value locked (TVL), with natively restaked Ether accounting for $986.3M or 48% of the total.