Next "big airdrop"? Puffer Finance to launch token airdrop

By Asher, Odaily Planet Daily

On October 10, Ethereum restaking protocol Puffer Finance announced the tokenomics of its PUFFER token, allocating 7.5% for the Season One airdrop of Crunchy Carrot Quest. In the following days, multiple exchanges including Gate.io, Bitget, Huobi HTX, and KuCoin announced they would list PUFFER at 8:00 PM on October 14.

Puffer Finance stated that the snapshot for Season One of Crunchy Carrot Quest was completed on October 5. The token claim window will be open from October 14, 2024 to January 14, 2025 (claim link: https://claims.puffer.fi/). Meanwhile, Season Two of Crunchy Carrot Quest has already launched, with 5.5% of the total token supply allocated as airdrop rewards for participants in this season. Below, Odaily Planet Daily provides an overview of the Puffer Finance project, its token economics, and details about Season Two of Crunchy Carrot Quest.

Project Overview

Image source: Official Twitter

As a native liquid restaking platform built on EigenLayer, Puffer Finance introduces native Liquid Restaking Tokens (nLRT) to accumulate PoS and restaking rewards. Its core mission is to enhance Ethereum's decentralization by preserving Ethereum’s "trusted neutrality." In a competitive market landscape, Puffer Finance leverages distributed and decentralized operator nodes, combined with Trusted Execution Environment (TEE) technologies such as Intel SGX, to achieve slashing resistance and ensure the security of staked assets, while delivering higher yields and additional rewards to users.

In May 2023, Puffer Finance received a grant from the Ethereum Foundation to support its open-source remote signing tool, Secure-Signer. In August of the same year, it announced a $5.5 million seed round. This year, Puffer Finance secured strategic investment from Binance Labs and in April announced an $18 million Series A funding round, demonstrating strong momentum in its ongoing development.

According to DefiLlama data, as of today, Puffer Finance ranks second among Ethereum liquid staking protocols by TVL, exceeding $1.333 billion, establishing itself as a leading player in the sector.

Token Economics

Per official documentation, the Puffer Finance token PUFFER has a total supply of 1,000,000,000 tokens. The initial TGE supply accounts for 10.23% of the total, amounting to 102,300,000 tokens. The detailed allocation is as follows:

• Ecosystem and Community: 400,000,000 PUFFER (40% of total supply) — allocated to foster a vibrant and engaged ecosystem, reward community contributions, and support sustainable growth;

• Support for Ethereum Core Development: 10,000,000 PUFFER (1%) — committed to supporting core Ethereum development, with these tokens unlocking four years after TGE;

• Season One Airdrop: 75,000,000 PUFFER (7.5%) — awarded to early supporters who participated in Crunchy Carrot Quest Season One. 65% of this portion unlocks at TGE, with the remainder linearly released over the next six months;

• Season Two Airdrop: 55,000,000 PUFFER (5.5%) — designated for participants of Crunchy Carrot Quest Season Two, which launched on October 5;

• Core Team and Advisors: 200,000,000 PUFFER (20%) — locked for one year post-TGE, then gradually released over the subsequent two years;

• Investors: 260,000,000 PUFFER (26%) — also locked for one year post-TGE, followed by a two-year linear release schedule.

PUFFER Tokenomics Model

Crunchy Carrot Quest Season Two Is Live

Immediately following the conclusion of Crunchy Carrot Quest Season One, Season Two has already begun. Given that Puffer Finance is a strategic investment of Binance Labs and thus considered relatively secure, users who missed the first airdrop and hold ETH in their wallets should not overlook this opportunity to generate additional "passive income." Below is a step-by-step guide.

Interaction website: https://claims.puffer.fi/

STEP 1. Visit the website and click “Join now” under the Airdrop Season 2 section.

STEP 2. Click “Launch Quest” and connect your wallet in Chapter 4.

STEP 3. Click “Stake” to begin staking. Supported assets include ETH, stETH (obtained by staking ETH via Lido), and wstETH.

Previously, due to erroneous third-party data from zkLink Nova, some Puffer Finance users experienced dilution of their EIGEN airdrops. To compensate affected users, Puffer Finance personally purchased 476,000 EIGEN tokens (worth approximately $1.869 million) from the secondary market and fully reimbursed impacted users, demonstrating significant goodwill. As such, whether Puffer Finance’s token airdrop will become a lucrative bonanza for yield farmers will be revealed at 8:00 PM on October 14.