According to a report by CoinDesk, Puffer Finance, an Ethereum liquidity rehypothecation protocol built on EigenLayer, announced on Tuesday (16th) that it has raised $18 million in Series A funding.
In a press release, Puffer stated that this round of funding 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 raised in this round will be used to help launch Puffer’s mainnet. In August of last year, Puffer completed a $5.5 million seed round led by Lemniscap and Lightspeed Faction. Binance Labs, the venture capital and incubation arm, 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, behind only ether.fi and Renzo.
Amir Forouzani, CEO of Puffer Finance, said:
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