Puffer
PUFFER Rank #1124Price chart
What is Puffer?
Protocol assets
Puffer's liquid restaking product issues pufETH. That token represents a separate yield-bearing position. PUFFER is the ecosystem's governance asset. Its stated token supply is one billion. Allocations include community incentives and airdrops. Protocol contributors and strategic investors have separate portions.
Governance model
Puffer introduced the vlPUFFER governance model in 2025. Vote-locked holders determine the weights of reward gauges. Gauges allocate incentives across eligible ecosystem activities. Those activities can include pufETH liquidity and UniFi vault participation. Governance weight therefore relates to reward distribution rather than ownership of deposited ETH.
Reward mechanics
CARROT is a separate ERC-20 reward token used in the incentive programme. The published model applies a cliff before claimed CARROT becomes available. CARROT can be held, traded or locked for reward multipliers. A delayed conversion route exchanges CARROT for PUFFER under programme rules. PUFFER, vlPUFFER, CARROT and pufETH consequently have distinct functions.
Where to trade PUFFER
28 exchanges · top 10
Live spot quotes from connected exchanges
PUFFER funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.