Puffer Finance
Staking · Liquid Restaking · pufETH
Puffer is a native liquid restaking protocol issuing pufETH; its Secure-Signer / RAVe anti-slashing technology lets node operators run with reduced bond while restaking on EigenLayer.
Native liquid restaking with anti-slashing.
Total staked
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Latest data · 15 min delay
Risks identified
- Smart Contract
pufETH, PufferVault/Depositor, RAVe and related contracts hold pooled staked ETH; an exploit or upgrade/timelock error could cause loss of deposits despite multiple audits.
- Network
Validator slashing risk on Ethereum: although Secure-Signer (SGX TEE) is designed to prevent slashable messages, downtime, penalties, or a flaw/compromise in the SGX enclave or attestation flow could still impair pufETH's backing.
- Counterparty
Native restaking on EigenLayer means pufETH is exposed to EigenLayer AVS operators and their conditions; misbehavior, additional slashing at the AVS layer, or EigenLayer protocol risk feeds back into pufETH value.
- Oracle
The pufETH-to-ETH exchange rate and reward accounting depend on rate/oracle inputs; manipulation or stale pricing could misprice pufETH in the vault or in downstream DeFi markets.
- Governance
PUFFER/vlPUFFER holders and multisig/timelock controllers can change operator selection, supported assets, fees and upgrades; concentrated voting power or governance capture could push parameters against stakers' interests.
- Collateral
pufETH accepts stETH/wstETH as deposit assets, so it inherits exposure to Lido's staking token; a depeg or issue with the underlying LST could affect Puffer's reserves and redemptions.