What is Pye Finance building on Solana?

Pye Finance is creating an on-chain marketplace on Solana to tokenize and trade time-locked staking positions.

Who invested in Pye Finance's $5 million seed round?

Variant and Coinbase Ventures led the seed round, with participation from Solana Labs, Nascent, and Gemini.

How will Pye Finance's platform benefit Solana stakers?

It will allow stakers to sell exposure to future rewards or use positions in other DeFi strategies while remaining staked.

Home / Business and Economy / Pye Finance Unlocks $5M Seed for Solana Staking Innovation

Pye Finance Unlocks $5M Seed for Solana Staking Innovation

10 Dec

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Summary

Pye Finance secured $5 million in seed funding led by Variant and Coinbase Ventures.
The startup is building an on-chain marketplace on Solana for time-locked staking positions.
This new platform aims to make locked SOL stake transferable and structured into fixed-term products.

Pye Finance Unlocks $5M Seed for Solana Staking Innovation

Pye Finance has secured $5 million in seed funding, with Variant and Coinbase Ventures spearheading the investment round. The startup is building an innovative on-chain marketplace specifically designed for Solana's blockchain. This platform will enable the tokenization and trading of time-locked staking positions.

The company's goal is to unlock the liquidity of over 414 million SOL tokens, currently valued at approximately $75 billion, which are held in basic staking accounts. These traditional positions lack customizability and tradeability once locked, creating limitations for both validators and stakers seeking flexibility.