Puffer Finance to convert stETH deposits to ETH

Liquidity staking platform Puffer Finance has recently revealed through its Medium blog that it plans to convert all stETH deposits in its protocol into ETH over the coming weeks. This initiative aims to reduce the current dominance of stETH on the beacon chain, which stands at 28.69% over staked ETH, by 1%. Notably, Puffer Finance successfully converted $13.2 million worth of stETH deposits into ETH in its first transaction batch.