Puffer Finance Launches Phase Three of Marketing Campaign, Rewarding Users for Providing pufETH Liquidity

Puffer Finance’s marketing campaign, Crunchy Carrot Quest, has entered its third phase, joining other projects in the market that have launched similar activities. Users can now provide pufETH/wstETH liquidity on third-party platforms like Curve to earn more points.

(This article is not investment advice)

Table of Contents
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Puffer Finance Phase 3 Marketing Campaign
Campaign Details
Current Status
LRT Project Gains Attention with Marketing Campaign
Becoming a recent market hotspot
Increased market risks
Due to its distinct design and structure compared to competitors, Puffer Finance Protocol is still under development. However, in order to gain market share, the project has launched a pre-marketing campaign and today announced that it has entered the third phase (out of a total of five phases).

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Recommended reading:
Introduction to the LRT Collateralization Project Puffer Finance: Marketing Campaign Takes the Lead Before Mainnet Launch!
Reading this article will help you understand the design and concept of the Puffer Finance Protocol and know that it is not just a simple liquidity collateralization project, but a new tool that reduces the economic burden on nodes.

In the third phase of the Puffer Finance campaign, participants are encouraged to provide liquidity for their pufETH tokens (tokens obtained after collateralization) on decentralized exchanges, including Curve, Uniswap, and Pancakeswap.

For every pufETH/wstETH liquidity provided, users can earn 60 Puffer Points per hour.

Currently, Puffer Finance primarily focuses on centralized liquidity on Curve.

On the other hand, the LRT tokens (such as stETH) pledged by users will earn more points over time. If a user holds 1 pufETH, they can earn 30 Puffer Points per hour.

Through the first two phases of the marketing campaign, Puffer Finance has accumulated over 350,000 ETH (equivalent to approximately $1.1 billion) and is now the second-largest protocol in the LRT field.

Currently, approximately 200,000 wallet addresses are participating in Puffer Finance’s marketing campaign. Interestingly, the wallet ranking first in terms of points is owned by Sun Yuchen, the founder of the Tron blockchain, who has invested over 250,000 stETH.

Sun Yuchen ranks first in the Puffer Finance points leaderboard.

Apart from Puffer Finance’s marketing campaign, competition in the liquidity collateralization field has already begun. Ether.fi announced the upcoming launch of its token, Kelp DAO offers additional points for the top 200,000 ETH pledged, and Renzo has gained investment and endorsement from Binance. Various marketing techniques are being used to capture the market during this chaotic period.

The top ten liquidity collateralization projects include Ether.fi, Puffer Finance, Kelp DAO, Swell, and others. Recently, the total value locked (TVL) has increased across all projects, even during the time when EigenLayer closed the window for depositing LST tokens (only ETH deposits were allowed). This shows the market’s enthusiasm for the liquidity collateralization field and related marketing activities.

TVL changes for liquidity collateralization projects are all positive.

(Data source)

Recommended reading:
In-depth Analysis of Opportunities and Risks in the Liquidity Collateralization Token (LRT) Project
Reason for recommendation: This article provides a quick and comprehensive understanding of what the liquidity collateralization project is and its relationship with EigenLayer. It also provides an overview of the current mainstream collateralization projects in the market.

However, it is important to note that currently, due to the design of most LRT contracts, even during off-peak hours on the Ethereum network, gas fees can range from $25 to $40. The project does not guarantee any returns, so users should carefully evaluate their participation capabilities.

Additionally, most tokens deposited into liquidity collateralization projects cannot be withdrawn at the moment and require further information and openness from the teams and EigenLayer. As the protocol’s funds continue to grow, the risk of asset security also increases, and there has been a significant increase in fraudulent teams targeting market opportunities. It is crucial to approach such activities with caution.

(This article is not investment advice)

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Further reading:
a16z Invests $100 Million in Liquidity Collateralization Protocol EigenLayer
Kelp DAO Launches KEP Token, Unlocking Liquidity for EigenLayer Points at a 1:1 Ratio.