LBank Labs, a preeminent blockchain venture fund, is thrilled to announce its strategic investment in Puffer Finance, joining forces with notable investors such as Brevan Howard, Bankless Ventures, Animoca Ventures, and others. This united effort aims to foster the development of a capital-efficient and permissionless staking pool, achieved through the innovative open-source initiative known as Secure-Signer.
LBank Labs Joins Puffer Finance’s Seed Funding Round Alongside Lemniscap and Lightspeed Faction
Puffer Finance acknowledges the formidable challenges that validators encounter within the Ethereum Proof of Stake network, particularly the peril of losing all ETH staked due to slashing penalties. Addressing this concern, Secure-Signer emerges as a pioneering remote signing tool meticulously crafted to avert validators from committing slashable offenses. Restricting access to validator keys, systematically diminishes the potential impact of software glitches and human errors, providing safeguarding measures that shield stakes from onerous penalties, which often disproportionately affect individual stakes.
We are thrilled to have LBank Labs partnering with us at Puffer Finance. Their deep understanding of the liquid staking, combined with their keen industry insight, makes them an invaluable ally. This collaboration signals an exciting chapter of innovation and growth for us both.
Jason Vranek
Beyond this pivotal contribution, Puffer Finance is actively engaged in developing a protocol that seeks to dismantle barriers to entry for at-home stakes. This forward-looking endeavor opens pathways to supplementary revenue streams, offering a financially viable alternative to centralized Liquid Staking Providers. As Ethereum’s ZK-rollup adoption progresses, Puffer’s validators stand to unlock potential revenues through distinctive restocking services, an exclusive facet of Puffer’s pioneering technological infrastructure.
Jason Vranek and Amir Forouzani, Co-founders of Puffer, conveyed their enthusiasm regarding the collaboration with LBank Labs, underscoring the harmonious convergence between Puffer’s vision and LBank Labs’ far-reaching influence within the market.
About LBank Labs
LBank Labs, a prominent player in the web3 space, manages a versatile $100 Million fund that extends beyond specific protocols and exchanges. With a team of experienced web3 veterans from prestigious entities, they have built an extensive network of expertise and connections. Their investment strategy includes fund-of-fund investments, and direct investments in early-stage and liquid projects, enabling them to explore diverse opportunities.
Leave a comment