Convex pufETH/WETH Vault - Puffer Liquid Restaking Yield

What is pufETH/WETH Convex Deposit?

This vault optimizes yields for the Curve pufETH/WETH pool through Convex Finance. pufETH is Puffer Finance's liquid restaking token, featuring unique anti-slashing technology and native restaking through EigenLayer.

Understanding pufETH and Puffer Finance

Puffer Finance introduces novel security features to liquid restaking:

Secure-Signer Technology: Hardware-based anti-slashing protection for validators
Native Restaking: Direct integration with EigenLayer's native restaking
Permissionless Validation: Lower ETH requirements for becoming a validator
Liquid Token: pufETH provides DeFi composability while earning restaking yields

Puffer's focus on validator security differentiates it from other liquid restaking protocols.

Anti-Slashing Innovation

Puffer's Secure-Signer technology:

Runs on trusted execution environments (TEEs)
Prevents validators from signing slashable messages
Reduces slashing risk for restakers
Enables more confident restaking participation

This technology addresses one of the primary concerns with EigenLayer restaking.

How This Vault Works

Provide pufETH and/or WETH to Curve pool
Stake LP tokens in this Convex vault
Earn boosted CRV via Convex's veCRV power
Collect CVX incentives on top of base yields

Yield Sources: ETH staking rewards, EigenLayer restaking, Puffer points/incentives, Curve fees, boosted CRV, and CVX.

Fee Structure

Convex standard fees:

16% of CRV rewards to CVX ecosystem
No deposit/withdrawal fees

Puffer Finance charges fees on restaking rewards (see Puffer documentation for current rates).

Puffer Points Program

pufETH holders accumulate:

Puffer points (PUFI eligibility)
EigenLayer points
Potential AVS token distributions

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, Puffer Finance, and EigenLayer. Novel Secure-Signer technology is less battle-tested. TEE Risk: Secure-Signer relies on trusted execution environments. Hardware or implementation vulnerabilities could undermine protections. Restaking Risk: Despite anti-slashing measures, EigenLayer restaking carries inherent risks from AVS security requirements. Operator Risk: Puffer's permissionless validator set may have varying quality. Protocol must filter malicious operators. Depeg Risk: pufETH may trade at discount to ETH during market stress or protocol concerns. Novel Technology Risk: Anti-slashing technology is innovative but unproven in extreme conditions. Regulatory Risk: Restaking protocols face evolving regulatory landscape.

pufETH/WETH Convex Deposit