Puffer Mainnet & Their Big Move Redeeming $1.7B of stETH

Amir Forouzani and Jason Vranek are CoFounders of Puffer Labs. Justin Drake is a Researcher at The Ethereum Foundation. In this episode, we cover Puffer Finance's Mainnet launch in May, as well as their ongoing campaign to redeem $1.7 billion of stETH to be converted to pufETH. Joined by Justin Drake from The Ethereum Foundation, we discuss why decentralization still matters, and how Puffer's protocol hopes to further contribute to decentralizing the Ethereum network. ------ 🔗 Essential Show Links 🔗 ► Youtube: https://youtube.com/@defidad ► Apple: https://tinyurl.com/edgepod ► Spotify: https://tinyurl.com/edgepodspotify ► Linktree: https://linktr.ee/edge_pod ► Follow DeFi Dad: https://twitter.com/DeFi_Dad ► Follow Nomatic: https://twitter.com/Nomaticcap ► Learn about DeFi and Web3: http://defidad.com/ ------ The Edge Podcast Sponsor Resources ☀️ SUMMER.FI | THE BEST PLACE TO BORROW AND EARN IN DEFI 🚀 FLAT MONEY | NEW FLATCOIN AND DELTA-NEUTRAL MARKETPLACE BACKED BY RETH 💧 INSTADAPP | THE MOST CAPITAL EFFICIENT LENDING AND BORROWING POWERED BY FLUID 🧑‍🌾 MANTLE | THE ETHEREUM L2 FOR TOP NATIVE YIELDS 🍵 MATCHA | THE BEST PRICE ON OVER 5 MILLION TOKENS 💰 TELLER | DEFI'S CASH ADVANCE 🔵 BLUEBERRY | THE DEFI PRIME BROKERAGE ------ Timestamps 0:00 - Intro 5:14 - What differentiates Puffer as an LRT? 6:28 - Why does decentralization matter? 8:41 - Series A raise 10:39 - Principal agent problem 12:48 - Problems with rug-pooling 14:18 - How Puffer addresses trust issues 17:36 - How LRTs fit into Ethereum roadmap 19:55 - Risks of restaking 23:19 - Puffer Decentralization Campaign 27:35 - State of no slashing on EigenLayer 31:06 - Next steps for Puffer stETH redemptions 32:40 - Tellor mid-roll 33:09 - Blueberry mid-roll 33:38 - Delegating EIGEN tokens to Puffer 38:34 - When will pufETH withdrawals be enabled? 40:49 - What Justin's excited for on Eth roadmap 43:46 - Closing ------ 🔗 Guest Links 🔗 ► Puffer Website: https://puffer.fi/ ► Puffer Chapter 4 Guide: https://medium.com/@puffer.fi/a-guide-to-maximizing-points-and-airdrops-in-chapter-4-c36caf3bf17d ► Puffer on Twitter: https://x.com/puffer_finance ► Amir on Twitter: https://x.com/amironchain ► Jason on Twitter: https://x.com/jasnoodle ► Justin on Twitter: https://x.com/drakefjustin ------ If you're a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/ All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. DeFi Dad has been an advisor to Puffer since February 2023. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.