Gauge Proposal Template:
Summary:
Puffer would like to join the Curve ecosystem by introducing a pufETH gauge. pufETH is Puffer’s recently launched LRT as part of its pre-mainnet stETH deposit campaign and reached $150M TVL in it’s first day.
References/Useful links:
- pufETH Token https://etherscan.io/token/0xd9a442856c234a39a81a089c06451ebaa4306a72
- Curve Pool Link - https://curve.fi/#/ethereum/pools/factory-stable-ng-83/deposit
- Curve Pool -
0xB3c8Ce1eE157b0DCAa96897C9170aEe6281706c9- Curve Gauge -
0xb6ec26a3433d6cd11084c2094f12c4e571806d06
- Website - https://puffer.fi
- Deposit Frontend - https://quest.puffer.fi/chapter2
- Documentation - https://docs.puffer.fi
- Github Page - Puffer · GitHub
- Twitter - https://twitter.com/Puffer_Finance
- Blogs - Puffer Finance – Medium
- Discord - Puffer
- Telegram - Telegram: Contact @puffer_fi
Protocol Description:
Describe the proposed asset(s), the corresponding protocol(s), and historic prices of the token (price must come from the source of highest liquidity).
Motivation:
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. With the mainnet going live, the protocol will undergo a transformation, where the existing stETH will be exchanged for ETH. This ETH will be utilized to support Puffer’s decentralized validators. Subsequently, Puffer will evolve into a fully-fledged native restaking protocol. This development enables users to earn uncapped Eigen points and enjoy restaking rewards once EigenLayer AVSs become operational.
Specifications:
- Governance: Puffer’s governance and token are not yet live, but the protocol will decentralize this process after the full mainnet launch.
- Oracles: pufETH does not rely on an oracle
- Audits: You can find our audits here https://github.com/PufferFinance/pufETH/tree/main/audits from SlowMist and BlockSec.
- Centralization vectors: Puffer’s was designed to mitigate centralization pressures in Ethereum liquid staking. We strive to build a sustainably decentralized protocol.
- Market History: pufETH has no previous history (launched on 01/31/2024) but is functionally similar to wstETH and later will be similar to other LRTs. Since it’s launch yesterday it received $150M in deposits.