pufETH Price

pufETH (PUFETH) is a cryptocurrency launched in 2024. It operates as a liquid restaking token, tightly woven into the Puffer Finance protocol and the broader Ethereum restaking economy.

The token’s core function is liquid restaking—a design that divorces yield accrual from asset lockup. Holders absorb staking and restaking returns without forfeiting transferability, mirroring the yield profile of wstETH while simultaneously stacking Puffer and EigenLayer points. This architecture directly addresses the pervasive liquidity sacrifice that has historically accompanied direct EigenLayer deposits.

pufETH operates on the Ethereum network. The asset exists as a standard ERC-20 token on Ethereum, with a secondary contract deployment on the Soneium Layer-2 ecosystem. That dual-presence extends its composability across distinct execution environments without introducing a separate consensus mechanism.

The token integrates into any EVM-compatible wallet or application without friction, leveraging the tried ERC-20 specification. Its smart contracts algorithmically compound staking rewards, channeling the underlying capital through EigenLayer’s restaking infrastructure. Public repositories on GitHub reveal no custom hashing algorithm or proprietary block time, as pufETH inherits Ethereum’s security guarantees and finality.

Puffer Finance birthed the token in January 2024, although no individual founders surface in public documentation. pufETH entered circulation as a pre-mainnet instrument, minted when users deposited liquid staking derivatives like stETH. That early phase was engineered to accrue Puffer points and EigenLayer points, positioning early adopters for what the protocol’s roadmap frames as a subsequent decentralized mainnet launch.

The ecosystem pursues a deliberately decentralized native liquid restaking framework. Rather than funnelling assets through custodial intermediaries, the protocol targets a trust-minimized restaking model where incentives align between stakers, node operators, and the EigenLayer layer. The long-term objective is to disintermediate the restaking supply chain, stripping out centralized counterparty risk.

Minting pufETH produces a liquid receipt token whose value appreciates relative to Ethereum, continuously repricing to reflect accrued staking yield. Off-chain, the same asset tallies Puffer and EigenLayer points as a loyalty metric, counting them against the holding address irrespective of whether the token is lent, paired, or transferred. Those points remain a deferred claim on future governance weight or token distribution.

A user can deposit stETH into Puffer’s front-end interface, receive pufETH, and immediately deploy that token across decentralized exchanges or lending pools. The underlying deposit churns out restaking rewards and accumulates points without interruption. Getting pufETH is thus an act of gaining liquid exposure to a dual-incentive structure.

pufETH has a total supply of 227,548 tokens. Currently, 0 are in circulation. The market capitalization stands at $0.