Liquid restaking protocol Puffer Finance has announced details of its airdrop campaign, which will see users accrue the newly-launched CARROT token that can be converted to PUFFER at the conclusion of season 2 later this year.

Users will accumulate CARROT through activities like staking, governance voting and liquidity provision.

The protocol currently has $264 million in total value locked (TVL), and the PUFFER token has a $60 million market cap.

“Through democratic voting, Puffer community members can support projects, liquidity providers, and content creators that add genuine value to the Puffer ecosystem,” said Amir Forouzani, co-founder of Puffer Labs.