🔥💥Binance Labs invested in Puffer!
Binance Labs, the investment arm of the Binance exchange, has invested in the protocol Puffer, which combines Ethereum liquid staking and "re-staking" transactions on EigenLayer.Dec. After that, BNB Chain users will be able to lock in Puffer's own liquid re-stake token, the NLRT, and earn returns.
Binance Labs' latest investment is decentralized and 3. it happened to Puffer, which is a “liquid re-staking” protocol that does not require party permission. The investment is in Puffer's open source technologies and in 2. layer networks will also be used in their development.
However, Puffer also opened the NLRT, a liquid re-stake token, to BNB Chain users. Users will be able to earn returns through the Ethereum proof-of-stake system and “re-staking”.
As it is known, individual Ethereum validators are usually able to make transactions at high costs. This results in the control and centralization effect of corporate accounts. Puffer aims to make Ethereum staking more fair by reducing the risks and costs in this regard.
Yi He, one of the founders of Binance and chairman of the board of directors of Binance Labs, said about the investment, “Binance Labs always continues to support innovative DeFi projects in their early stages. We see these projects as long-term,”he said.
