Core Insights - Puffer Finance has formed a strategic partnership with ETHZilla, involving the deployment of approximately $47 million in ETH to enhance institutional participation in Ethereum through restaking [1][2][5] - The partnership aims to set a new standard for security and performance in Ethereum restaking, leveraging Puffer's unique validator bond model [3][6][7] Company Overview - Puffer Finance specializes in Ethereum infrastructure and rollups, offering a comprehensive stack that includes Liquidity Restaking Token (LRT), UniFi-based rollup, and Prefconf AVS for high throughput and scalability [4][8] - ETHZilla, a publicly traded firm, has transitioned from biotech to focus on Ethereum treasury management, accumulating over 100,000 ETH valued at approximately $450 million [5][7] Strategic Focus - The collaboration emphasizes the integration of Puffer's validator stack with ETHZilla's treasuries to optimize ETH restaking, enhancing capital efficiency and yield while ensuring security [3][4][6] - Puffer's 2 ETH validator bond serves as an insurance layer against validator failures, addressing the traditional trade-off between yield and security for institutions [6][8] Market Positioning - ETHZilla is positioning itself as a significant player in Ethereum treasury management, supported by approximately $425 million raised from institutional investors [7] - The partnership reflects a maturing market where security is prioritized alongside yield, indicating a shift in institutional strategies towards Ethereum [6][7]