The post Ethereum LSD solution Puffer Finance moves to based rollups after raising $18M appeared on BitcoinEthereumNews.com.

The protocol is currently focused on bridging the liquidity gaps between different Ethereum layer solutions. Puffer Finance, a liquid staking derivatives (LSD) project built on Ethereum restaking protocol Eigenlayer, will partner with the Ethereum Foundation to jointly develop based rollups after previously securing an $18 million Series A funding round to launch its mainnet. Rollups are scaling solutions that reduce the burden of layer-1 blockchains by processing transactions offchain and then bundling one finalized transaction to the based layer. In an interview with Cointelegraph, Amir Fourouzani, co-founder of Puffer Finance, discussed the ongoing market demand: “To address this, the industry needs solutions like based-sequencing and based rollups to ensure interoperability and communication between these chains,” said Fourouzani, who claimed that Puffer Finance had found a way to organize pre-confirmations on Ethereum layers while keeping validators decentralized and in the absence of a need for an overall Ethereum Improvement Proposal.  Read more Source: https://cointelegraph.com/news/ethereum-lsd-solution-puffer-finance-moves-to-base-rollups

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Filed under: News - @ June 28, 2024 3:08 am