Stake

This section will guide you through the process of staking to the Puffer Protocol. Review the native Liquid Restaking Tokens section to understand the benefits of staking to the Puffer Protocol.

Basically, when you stake your funds to the Puffer Protocol, you will receive a native Liquid Restaking Token (pufETH) in return. This pufETH will be minted to your wallet and will represent your staked ETH. The pufETH is expected to increase its value overtime.

Connect Wallet

In order to stake to the Puffer Protocol you need to go to the Stake page and connect your wallet.

Select asset

The Puffer Protocol app currently supports the following assets:

• ETH: The native token of the Ethereum blockchain.
• stETH: A liquid staking token for Ethereum that represents the staked version of ETH in the Lido protocol. It is pegged 1:1 with ETH.
• wstETH: A wrapped version of stETH. It is not 1:1 with stETH.
• WETH: A wrapped version of ETH. It is 1:1 with ETH.

Select amount

You can select the amount of ETH, stETH, wstETH, or WETH you want to stake. The app will automatically calculate the amount of pufETH you will receive in return. The exchange rate will be the same for ETH, WETH and stETH since they are pegged 1:1. For wstETH, the exchange rate will be different.

To understand the exchange rate, check out the docs.

Stake

Once you have selected the amount you want to stake, you can click on the "Stake" button.

In the case of stETH and wstETH, you will need to first sign a Permit in order to allow the Puffer Protocol to spend your stETH/wstETH. Please note that the Permit is a signature and not a transaction, so you will not be charged any gas fees for it.

In the case of ETH, no Permit is needed since ETH is a native token on the Ethereum blockchain.

If you are staking WETH, you will need to sign a transaction to approve the Puffer Protocol to spend your WETH.

In any case, you will need to sign a transaction to stake your funds and receive your pufETH.