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Puffer Finance, supported by Binance and Coinbase, introduced its native token PUFFER and shared the airdrop details.
Puffer Finance Announceded Airdrop
Puffer Finance, a re-staking protocol developed for the Ethereum network, launched the PUFFER token, which will be released to the market with a total supply of 1 billion.
The project also announced the airdrop with the launch of the PUFFER token and announced the details of the process. The airdrop demand period will start on October 14, 2024 and end on January 14, 2025. Initially, 102.3 million units of the total supply of 1 billion units will be on the market.
The airdrop distribution will be carried out in two stages, and the project team has stated the distribution of PUFFER tokens as follows:
- 40% for the ecosystem and community,
- 13% for airdrops,
- 1% for Ethereum core developers,
- 20% for early adopters and advisors,
- 26% for investors
In addition, based on the snapshot on October 1, 7.5% of the total supply (75 million tokens) will be allocated for the first season of the airdrop campaign called “Crunchy Carrot Quest” and 5.5% for the second season.
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In addition to the PUFFER token, there will be another token called PUFFER, which provides a staking and voting mechanism. This token will be used to determine the voting power of users.
Puffer raised $18 million in a Series A funding round led by Brevan Howard Digital and Electric Capital in April. While important names such as Coinbase Ventures and Kraken Ventures also participated in this round, Puffer also received investment from Binance Labs in 2024.
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