Puffer Finance

Season 1 was 7.5% of supply, 75 million tokens, under the "Crunchy Carrot Quest" campaign, with a snapshot on 1 October. Some sources give 5 October instead, and Puffer's Medium post says Season 2 began after the Season 1 snapshot on 5 October, so the date is uncertain. Season 2 added 5.5%, so the combined airdrop was 13% of the 1 billion total supply. The initial circulating supply was 102.3 million.

The claim period ran from 14 October 2024 to 14 January 2025. One source says 50% was available on day one and, for larger depositors, the rest vested over six months. Holders can stake PUFFER for vePUFFER, which gives governance rights in proportion to their votes.

The two-season design spread distribution over time and let the team reward continued deposits. It also meant people deposited again in Season 2 with only a promise of more tokens, and that the early snapshot discouraged anyone who arrived after it.

A three-month claim window is generous, but it also lengthened the time during which fake claim pages could operate. People who waited for the last week had to be sure they were on the official page.

Restaking tokens add layers of risk. A liquid restaking token depends on Ethereum staking, on the restaking layer and on Puffer's own contracts, so the airdrop reward is small compared with the exposure a depositor takes on.

Liquid restaking tokens add a layer of risk on top of the underlying staking position, because the holder depends on the protocol's smart contracts, its node operators and the restaking platform it connects to. Points programmes also change: weights, caps and eligibility can be revised while a season is running.

Anyone who deposited mainly to chase an allocation should compare the expected reward with the lock-up, the withdrawal queue and the fees they accepted, and should never assume a points balance is the same as a guaranteed token amount.