**Binance Labs Invests in Puffer: Ethereum Liquid Restaking Protocol**

Binance Labs, the venture capital and incubation arm of cryptocurrency exchange Binance, has recently made an undisclosed strategic investment in Puffer Finance, an Ethereum liquid restaking protocol built on EigenLayer. This investment will support the development of Puffer’s Layer 2 network and bring Ethereum staking and restaking rewards to BNB Chain users.

Puffer Finance plans to utilize the funds to enhance its open-source technologies, particularly focusing on its Layer 2 network and liquid restaking rewards. Binance Labs, while not disclosing the exact invested amount, has emphasized that this partnership aims to enhance Puffer’s actively validated services (AVSs) and integrate them into EigenLayer AVS. Additionally, Puffer’s liquid restaking technology will be extended to the BNB Chain, allowing users on this platform to access ETH staking and restaking rewards.

Amir Forouzani, founder of Puffer, expressed enthusiasm about the collaboration, stating that it will elevate validator profitability and contribute to Ethereum’s decentralization and security. The investment from Binance Labs underscores the potential of Puffer’s innovative approach and its collaboration with leading researchers to fortify the Ethereum ecosystem through EigenLayer technology.

Puffer Finance had previously received funding during its pre-seed and seed rounds from various venture firms and investors. This recent investment from Binance Labs further solidifies Puffer’s position in the decentralized finance sector and its commitment to advancing Ethereum’s decentralization and scalability.

### FAQ

Q: What is Puffer Finance?
A: Puffer Finance is an Ethereum liquid restaking protocol built on EigenLayer, aiming to enhance the staking experience for ETH holders and validator profitability.

Q: What is Binance Labs?
A: Binance Labs is the venture capital and incubation arm of the popular cryptocurrency exchange Binance, focusing on investing in and providing support for innovative blockchain projects.

Q: How will the investment from Binance Labs benefit Puffer Finance?
A: The investment will support the development of Puffer’s Layer 2 network and its liquid restaking technology, enabling the protocol to expand its services and bring Ethereum staking and restaking rewards to users on the BNB Chain.

Q: Are there any other notable investors in Puffer Finance?
A: Yes, Puffer Finance has previously received investment funding from Lemniscap, Lightspeed Faction, Brevan Howard Digital, Animoca Ventures, Canonical Crypto, and Bankless Ventures.

Q: What sets Puffer Finance apart from other Ethereum staking protocols?
A: Puffer Finance stands out due to its focus on liquid restaking and its integration with EigenLayer technology, offering a unique approach to enhancing validator profitability and decentralization within the Ethereum network.