Puffer Finance has exchanged 10,000 stETH for ETH

Puffer Finance announced on platform X that it has exchanged 10,000 stETH for ETH. According to previous news, Puffer Finance has begun executing the protocol within stETH (worth approximately $1.36 billion) towards the first redemption transaction which is now completed with an ETH conversion. Puffer Finance added that converting stETH into ETH aims to improve the centralized status of Ethereum's pledge. It is expected that after the conversion is complete, stETH's dominant position in Ethereum pledges will decrease by 1%. All redeemed stETH will be used to provide pledge support for Puffer Finance's own verification nodes after being converted into ETH, and users do not need to take any action during this period.