How to stake Puffer (PUFFER) & Vote
Guides · 5 Minute Read · Written by @Jordan
What is Puffer?
The PUFFER token is the native governance token of the Puffer Protocol and UniFi ecosystem.
Prerequisites
Where to buy PUFFER
You can get PUFFER tokens at a number of cryptocurrency exchanges, at a DEX, or within selected wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them.
PUFFER wallets
PUFFER has a variety of non-custodial wallets for you to choose from. We recommend using a hardware wallet such as Ledger otherwise we suggest using Metamask or Rabby.
How to stake PUFFER
Stage 1: Make sure you have a Metamask wallet
Although we recommended using a hardware wallet for additional security, in this guide we will be using popular web3 wallet, Metamask. This browser wallet enables you to access various blockchains, blockchain apps, manage and stake mutiple tokens.
Once you have installed the Metamask extension you need to deposit your tokens into this wallet before advancing to stage 2.
Stage 2: Go to Puffer app and connect to Metamask
- Go to the Puffer App Staking Page and you will be prompted to select a wallet
- Click on Metamask
- Click on ‘Next’ and then ‘Connect’
Stage 3: Finalize the transaction
After connecting your Metamask wallet, start staking:
- Enter the number of tokens you want to stake (Minimum lock amount: 10 $PUFFER)
- Adjust to your chosen lock duration
- Click stake and lock
You’ll need ETH for gas fees, these fees fluctuate depending on Ethereum’s current network activity. You can check current gas fees but as a minimum we recommend 0.01 ETH.
Once you have staked, you will see the information of your lock, where you can:
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Add more $PUFFER to increase your total locked amount and thus you vlPUFFER.
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Extend your lock duration to earn a higher multiplier, increasing your vlPUFFER as well.
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Do both to maximize your voting power.
Optional Steps: Managing Your Lock
In the “Manage” tab you can see the detail of your vlPUFFER
If you click the Manage Lock button, you will be able to renew the lock, by adding more $PUFFER, extending the lock duration or doing both, just as shown before:
You could also click Delegate to delegate your voting power or click Withdraw to Unlock your tokens.
Optional Steps: Vote Delegation
You can delegate your vlPUFFER voting power to another wallet. You can change or revoke the delegation without any time limitation
Using different wallets, you can manage multiple locks. If you delegate all of them to your main account, you will keep your voting power centralized.
Example Strategy
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Lock 3 months, 12 months, and 24 months in different wallets.
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Delegate all voting power to your main wallet.
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Maintain flexibility in unlocking while concentrating governance influence.
Optional Steps: Unlocking Your Tokens
When your lock expires:
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You can withdraw your $PUFFER tokens at any time after the end date.
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If you don’t withdraw within 7 days, anyone can kick your expired lock:
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The kicker receives 1% of your locked $PUFFER as a fee.
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The remaining 99% is automatically returned to you.
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Staked PUFFER? Now what…
Congratulations! You’ve staked and will be able to see vlPUFFER in your wallet. Your voting power and multiplier (depending on if your lock duration) have been applied immediately. Let’s now look at how you can participate in Puffer Governance and help steer the direction of the Puffer DAO and Protocol.
What is vlPUFFER?
vlPUFFER is Puffer Finance’s governance and locking system. By locking your $PUFFER tokens, you gain voting power (vlPUFFER), participate in governance, and become eligible for exclusive rewards.
When you lock your $PUFFER tokens, you receive vlPUFFER in return, a non-transferable token representing your voting power within the Puffer ecosystem. The longer you lock, the higher your multiplier and the more vlPUFFER you receive.
Your vlPUFFER balance determines your influence in governance votes and reward distributions.
Key features of vePUFFER:
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Lock your $PUFFER tokens for a chosen duration (from 30 days up to 2 years).
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The system grants you vlPUFFER based on a multiplier determined by the lock duration.
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Use your vlPUFFER to vote in governance, influence emissions, and access certain protocol rewards.
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After the lock period ends, you can withdraw your original $PUFFER tokens.
vlPUFFER is non-transferable. It cannot be traded or moved between wallets. It only represents voting power.
vlPUFFER Lock Duration and Multipliers
| Lock Duration | Multiplier |
|---|---|
| 30 days | 1x |
| 3 months | 3x |
| 6 months | 6x |
| 9 months | 9x |
| 12 months | 12x |
| 18 months | 18x |
| 24 months | 24x |
Example: Locking 100 $PUFFER for 12 months gives you 1,200 vlPUFFER (12x multiplier).
How to Vote
Proposals are first created and discussed on the Governance Forum and then posted to the Puffer App Governance Section for voting.
- Navigate to app.puffer.fi/proposals
- Connect your wallet
- View proposals on the Latest proposals window or via the Gauges tab
- Vote on proposals by clicking the
Votebutton
The proposal passes unless rejections outnumber approvals after the voting period has ended. Specifically, a proposal is approved if:
- Approvals exceed or equal rejections
- No votes are cast (effectively treated as equal approvals and vetoes)
Congratulations! You’re now staked and able to participate in Puffer Governance to help steer the direction of the DAO & Protocol. If you have any further questions, you can contact @Jordan via this governance forum or our team in the Puffer discord.