Puffer Finance announced that it will collaborate with the Ethereum Foundation to jointly develop Base Rollups

ChainCatcher news, according to Cointelegraph, the liquid staking derivatives (LSD) project Puffer Finance, built on the Ethereum restaking protocol Eigenlayer, recently announced a collaboration with the Ethereum Foundation to jointly develop Base Rollups. Base Rollups alleviate the burden on layer one blockchains by processing transactions off-chain. Puffer Finance's LSD technology allows Ethereum validators to reduce the required capital from 32 ETH to 1 ETH, while simultaneously earning yields in other DeFi protocols through liquid restaking tokens (nLRT).

Currently, Puffer Finance's total locked value has exceeded $1.2 billion, having raised a total of $23.5 million in venture capital funding.

Previously, the project completed a $18 million Series A funding round to launch the mainnet.