Puffer Finance

Puffer Finance receives a C risk grade (46/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — fast-growing restaking play, but hardware trust assumptions and dual-obligation slashing risk are untested in a real crisis A restaking protocol that lets you earn extra yield by putting your ETH to work across multiple blockchain services at once. It holds $800M in deposits. Its C grade comes from relying on Intel chip security to protect validators -- if that chip security fails, each validator has only 1-2 ETH of insurance covering a potential 30 ETH loss.

The key risks identified for Puffer Finance are: (1) The anti-slashing protection depends on Intel chip security. Intel has disclosed chip vulnerabilities multiple times (2018, 2022, 2023). If the chip is bypassed, up to $200M in losses have no coverage (2) Validators are signed up for two jobs at once (staking and sequencing). A single outage could trigger penalties on both, far exceeding the tiny 1-2 ETH bond (3) Withdrawals depend on 7 out of 8 special guardians being online. If just 2 go down, all $800M in withdrawals freeze completely

Puffer Finance scores 46/100 across eight risk dimensions: Mechanism Novelty: 8/15, Interaction Severity: 13/20, Oracle Surface: 7/10, Documentation Gaps: 3/10, Track Record: 3/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Oracle Surface at 7/10.

Among 23 rated Restaking protocols on Hindenrank, Puffer Finance ranks #20 by safety (lowest risk score = safest). Its 46/100 risk score and C grade place it among the riskier Restaking protocols.

Puffer Finance scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.