According to CoinDesk, on Tuesday (16th), Puffer Finance, an Ethereum liquidity rehypothecation protocol built on EigenLayer, announced that it has raised $18 million in Series A financing.
In the press release, Puffer stated that this round of financing was led by Brevan Howard Digital and Electric Capital, with participation from other institutions including Coinbase Ventures, Kraken Ventures, Lemniscap, Franklin Templeton, Fidelity, Mechanism, Lightspeed Faction, Consensys, Animoca, and GSR.
The funds from this round of financing will be used to help launch Puffer’s mainnet. In August of last year, Puffer completed a $5.5 million seed round financing led by Lemniscap and Lightspeed Faction. Binance Labs, the venture capital and incubation arm of Binance, also announced an investment in Puffer in January of this year.
According to data from DeFiLlama, Puffer Finance has a total locked value of $1.18 billion, making it the third-largest liquidity rehypothecation protocol, only behind ether.fi and Renzo.
Amir Forouzani, CEO of Puffer Finance, stated:
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