Puffer Finance, a re-staking protocol for Ethereum, has announced the launch of its native token PUFFER with a total supply of 1 billion.

Launch of PUFFER Token

The project announced the release of the PUFFER token with a total supply of 1 billion, out of which 102.3 million units will initially be in circulation. The announcement also included an upcoming airdrop.

Airdrop Details and Distribution

The airdrop request period will begin on October 14, 2024, and end on January 14, 2025. The airdrops will be distributed in two periods: 7.5% (75 million tokens) are allocated for the first phase of the 'Crunchy Carrot Quest' campaign, while 5.5% for the second phase. Overall PUFFER token distribution is as follows: 40% for the ecosystem and community, 13% for airdrops, 1% for Ethereum core developers, 20% for early adopters and advisors, and 26% for investors. Additionally, a vePUFFER token will be available for voting, based on a staking mechanism.

Investment and Project Support

In April, Puffer raised $18 million in a Series A funding round co-led by Brevan Howard Digital and Electric Capital. Major participants in the round include Coinbase Ventures and Kraken Ventures. In 2024, Puffer received investment from Binance Labs.

Puffer Finance's initiatives demonstrate its ambitions in the crypto space, offering investments and joint projects with major market players.