We are pleased to announce the launch of Puffer governance in Aragon. Together we have developed a custom governance solution to launch alongside the PUFFER token, a significant step in its decentralization roadmap.
Finance Puffer is a leading innovator in Ethereum infrastructure, focusing on next-generation accumulations backed by liquid recovery (LRT) and pre-confirmation like AVS. With products like Puffer UniFi and Puffer UniFi AVS on EigenLayer, Puffer is dedicated to improving the decentralization of Ethereum.
Puffer’s governance roadmap focuses on Ethereum alignment and takes into account EIP advancements with the goal of becoming completely decentralized. PUFFER holders not only receive rewards for staking, they gain voting rights that increase their power over time.—ensure long-term security and sustainable evolution of the protocol.
veLocker
To support the launch of the Puffer token, we created a new, custom vote deposit (ve) contract that encourages the Puffer community to stake their tokens to earn rewards and increase their voting power over time. This helps incentivize token holders who receive rewards for helping to secure the protocol, while allowing the community to actively participate in shaping Puffer’s governance from day one.
Here are some of the key features of Puffer’s modern veLocker:
- PUFFER holders can stake their tokens to mint vePUFFER NFTs representing their staked tokens.
- PUFFER tokens can be staked at any time. There is a preparation period of up to 3 days before vePUFFER holders can participate in governance, and a minimum staking period of 1 month.
- The voting power of vePUFFER increases over time, as long as PUFFER tokens remain staked.
- vePUFFER can be removed at any time. There is a minimum exit queue duration of 1 month and unstaked tokens reset voting power.
Puffer’s VeLocker is built with Aragon’s new modularized veLocker library. Many projects have relied on forking five contracts from other protocols to implement five governance models. We leveraged learnings from many DeFi protocols and projects, including Curve, Mode, Solidly, Aura, Balancer, and Aerodrome, to develop a standardized veLocker contract that is easier and more secure to customize. Our solution helps projects define parameters with more granularity, such as lock duration, warm-up and cool-down periods, and curve five that increases or decreases voting power over time.
Aragon OSx DAO
At the center of Puffer’s governance system is our next-generation framework, Aragon OSx. Once PUFFER holders stake their tokens and pass the 3-day preparation period, they will be able to begin participating in temporary signaling voting with their vePUFFER, which will soon transition to on-chain voting.
Specific milestones in Puffer’s governance roadmap can only be unlocked through planned future upgrades to Ethereum itself, meaning it’s essential that Puffer’s governance system is designed with adaptability in mind. This is made possible by Aragon OSx’s plugin-based architecture, ensuring that changes can be made safely by updating or installing a new governance plugin. Connecting an Aragon OSx DAO to a custom veLocker ensures that Puffer governance can grow securely and sustainably alongside its engaged community members.
Puffer Governance Center
The Puffer community now has a home dedicated to governance. On the Puffer Governance Hub, vePUFFER holders can temporarily participate in vote signaling from day one. This is where future iterations of Puffer Governance will live, as the hub can adapt by adding the flows and features the community needs to participate in governance as it evolves over time, including moving to on-chain governance in the coming years. versions of PUFFER governance.
Governance Hub was built with our governance app template. It allows projects to quickly implement a single interface to interact with custom government contracts.
This marks just the beginning of Puffer’s governance journey, with more exciting updates to come as Puffer’s on-chain governance model is implemented in the near future.
DAOs are not one-size-fits-all and the Aragon team is working hard to create custom solutions for a wide range of Ethereum protocols. Whether you need a custom solution or would like to know more about the adaptability of Aragon OSx, We would love to hear from you.
Our products are customizable and adaptable, so you can begin your decentralization journey in a way that supports your project today and into the future.
