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Staking at Puffer

Puffer operates as a decentralized native liquid restaking protocol native to its ecosystem. Prior to its mainnet launch, pufETH serves as a yield-generating token, mirroring the yield of wstETH, while also providing users the opportunity to accumulate both Puffer and EigenLayer points.

How Staking Works​

  1. Deposit
    Deposit ETH into Puffer’s Liquid Restaking Protocol.
  2. Earn
    Earn Ethereum staking and EigenLayer restaking rewards.
  3. Mint
    Mint the pufETH Liquid Restaking Token.

Staking ETH​

Stakers can deposit ETH and mint the pufETH nLRT via the PufferVault contract, which serves as a redeemable receipt for their restaked ETH. If sufficient exit liquidity is available, stakers can reclaim their ETH from the PufferVault. Over time, the redeemable amount is expected to increase from validator tickets and restaking rewards.

In contrast with conventional liquid staking tokens (LSTs), pufETH can provide strictly more rewards for its holders. Not only does pufETH encompass PoS rewards and restaking rewards, but its value can accelerate quickly due to validator ticket sales. Furthermore, the PoS rewards for stakers are decoupled from the protocol validators' performance.