Event Timeline
About Puffer
Puffer is a liquid restaking protocol built on EigenLayer. Depositing ETH returns pufETH, a receipt token that keeps earning staking and restaking yield while remaining usable across DeFi, which is the standard liquid restaking trade. What set Puffer apart was its anti slashing hardware and a lower capital requirement for node operators, aimed at keeping Ethereum validation from concentrating further.
The points programme was called the Crunchy Carrot Quest, and Carrots were earned by depositing into Puffer and by putting pufETH to work in partner protocols. Season 1 converted those Carrots into 75 million PUFFER, 7.5% of total supply, which is a large opening distribution by 2024 standards.
The vesting design is the part worth studying. Everyone received half their allocation immediately, but larger depositors had the remainder released over six months rather than up front. Puffer framed this as levelling the field: smaller recipients got their full allocation quickly, while the wallets big enough to move the price on day one were held back.
Airdrop Stats
How it worked to get the Puffer airdrop
Deposit into Puffer
Depositing ETH or a liquid staking token returned pufETH and started accruing Carrots. Position size and time held both fed the score, so this was a capital weighted campaign.
Put pufETH to work
Carrots multiplied when pufETH was supplied to partner protocols rather than left idle, which is where most of the extra points in season 1 came from.
Hold through the snapshot
The Crunchy Carrot Quest season 1 snapshot was taken in early October 2024. Withdrawing beforehand meant the accrued Carrots did not convert.
Claim between October and January
The window ran from 14 October 2024 to 14 January 2025. Half the allocation was liquid on day one, with the rest vested over six months for larger depositors.
Was the Puffer airdrop worth it?
- 7.5% in a single season was generous. Most 2024 launches spread a comparable share over several rounds. Puffer put it into season 1, against 13% earmarked for airdrops in total.
- Vesting was tilted against whales, not against everyone. Small recipients received their full allocation at claim. Larger depositors waited six months for the second half, which is a deliberate inversion of the usual arrangement.
- It rewarded capital, not activity. Carrots scaled with how much was deposited and for how long. There was no cheap route in, so this suited people already holding ETH rather than anyone farming with small balances.
- The claim window was finite. Three months, closing 14 January 2025. Restaking airdrops of this era frequently stranded allocations this way.
Puffer Official Links
Official channels, documentation and community for this airdrop:
This airdrop has concluded. It is kept for research rather than participation.
