Puffer Finance, an Ethereum liquidity re-collateralization protocol, announced on Thursday its tokenomics, ownership, and distribution plan for its native token, PUFFER. 7.5% of the total token supply will be allocated to the first season airdrop of its marketing campaign, “Crunchy Carrot Quest.” Eligible users will be able to claim PUFFER tokens on October 14th.
According to official data, the total token supply of PUFFER is 1 billion, with an initial supply of 102.3 million (10.23%). The distribution and ownership schedule of the tokens are as follows:
Source:
Puffer Finance
Ecosystem and Community (40% of PUFFER total):
To be used for future airdrop events, community incentives, and initial liquidity on exchanges.
Investors (26%):
Investors will receive their token allocations over three years, with a one-year lock-up period and a two-year vesting period.
Early Contributors and Advisors (20%):
This portion is allocated to the Puffer core team and advisors, with a one-year lock-up period and a three-year vesting period.
Protocol Guild (1%):
Allocated to support Ethereum core development, with a four-year vesting period.
Crunchy Carrot Quest Season 1 Airdrop (7.5%):
This portion will be distributed to early participants of the Crunchy Carrot Quest Season 1 event. The airdrop eligibility snapshot was completed on October 5, 2024. Puffer stated that 65% will be available for claiming on the first day, while the remaining portion will be gradually unlocked within six months to ensure equal opportunities for all community members.
Crunchy Carrot Quest Season 2 Airdrop (5.5%):
This portion will be distributed to participants of Crunchy Carrot Quest Season 2, which starts after the completion of the Season 1 airdrop snapshot on October 5th.
Users who are eligible for the Season 1 airdrop can claim their tokens on the official Puffer redemption website. The redemption period will be open from October 14th, 19:00 (Taiwan Time) until January 14th, 2025, 19:00.
Puffer mentioned that while many primarily view the protocol as a liquidity re-collateralization protocol, its business scope has significantly expanded in recent months, including the introduction of Puffer UniFi, a Based Rollup solution, and UniFi AVS, the first pre-confirmation service enabling 100ms transactions on Ethereum.
