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Puffer Finance, a prominent player in the DeFi sector, has announced the release of PufferDAO. As per Puffer Finance, PufferDAO’s release is a crucial step in the platform’s mission to establish a more community-driven and decentralized ecosystem with the inclusion of decentralized governance. The platform disclosed this development on its official social media account.
🐡 PufferDAO is Live! 🐡
— Puffer Finance 🐡 (@puffer_finance) October 23, 2024
We’re proud to launch PufferDAO alongside the $PUFFER token and $vePUFFER NFT.
PufferDAO empowers our community to govern the Puffer ecosystem — including Puffer LRT, @puffer_unifi Rollup, and UniFi AVS — while upholding Ethereum’s core principle of… pic.twitter.com/GytOfNaHan
Puffer Finance Unveils PufferDAO Along with $vePUFFER NFT and $PUFFER Coin
In its recent X post, Puffer Finance mentioned that the PufferDAO emerges simultaneous to 2 other releases. In this respect, the platform is also introducing $vePUFFER NFT and the $PUFFER token. These products will operate as chief tools in the case of governance and incentives within the platform.
PufferDAO reportedly focuses on strengthening the community of Puffer Finance. It provides consumers with the capability to govern the ecosystem’s diverse elements. These elements include UniFi AVS, Puffer UniFi Rollup, and Puffer LRT. The respective core technologies work on Ethereum in line with the principles of Ethereum concerning security and decentralization. The governance system lets token holders propose changes and vote for them on the platform. This turns PufferDAO into a purely community-driven endeavor. With the decentralization of control, PufferDAO improves transparency and promotes long-term growth.
PufferDAO Incentivizes Active Participants of the Community with Rewards in Season 2
The $PUFFER token’s release denotes an integral part of PufferDAO’s functioning. It serves as the native token of the platform and holders can stake it for minting $vePUFFER NFTs. According to Puffer Finance, $vePUFFER incentivizes consumers to actively take part in governance. Hence, the holders can vote on chief decisions concerning the ecosystem’s development. To enhance community engagement, PufferDAO offers an exclusive opportunity aimed at the participants in the 2nd season. They can stake $PUFFER to mint $vePUFFER to qualify for rewards in Season 2 of Puffer.