Our $5M Seed Round and the Future We Are Building for Solana Staking
The old staking model is reaching its limits, but a new market is beginning to form.
Ushering in a New Phase for Solana Staking
More than 75 billion dollars in SOL sits in native stake accounts that have remained largely unchanged since the earliest days of the network. These accounts secure Solana, but they don’t give validators or stakers the tools they need to define terms, price yield, or participate in a market that reflects their preferences.
As institutional participation in staking Solana grows and delegation programs scale back, the limitations of the existing system are becoming clear. Validators compete almost entirely on commission rates. Stakers lack meaningful ways to manage or exit positions. Builders have no standard for expressing or composing staking economics.
Pye was created to build the next phase of Solana’s staking layer, where reward structures are programmable and staking behaves like a market.
Introducing Programmable Staking on Solana
Pye enables validators to issue fixed-term, programmable staking positions directly on-chain. These positions define their own economics. Validators can set term lengths, reward splits, and lockups. Stakers gain clarity on expected returns and the ability to trade positions before maturity without initiating an unstake.
Each Pye position is separated into two components:
- Principal component that represents the staked SOL redeemable at maturity
- Rewards component that represents future claims on staking rewards
By separating these components, Pye makes it possible to define, price, and trade staking rewards in ways that the native account model cannot support. This is the foundation of a real market for staking yield.
- Validators gain predictable revenue.
- Stakers gain flexibility and better outcomes.
- Builders gain a new financial primitive for the ecosystem.
Announcing Our Seed Round
We are excited to share that to support Pye’s plans, we have raised a $5 million seed round led by Variant and Coinbase Ventures, with participation from Nascent, Anagram, Bitgo, and others.
This investment will allow Pye to build Solana’s financial layer and accelerate our efforts to give validators modern tools, enable true price discovery for staking rewards, and connect staking to the broader DeFi ecosystem.
In the current landscape, validators are increasingly operating as asset managers. To thrive in that role, they need infrastructure that reflects how they earn revenue, how they differentiate, and how they align incentives with stakers.
The company is part of the Solana Labs accelerator program, and is gearing up to launch its beta in the new year.
Join Us
Pye is building the market structure that allows validators, stakers, and builders to shape the economics of Solana staking with intention.
If you would like to participate:
- Apply for validator onboarding
- Explore the documentation
- Connect with the team to discuss integrations
This is the beginning of a more flexible, transparent, and programmable staking economy. We are excited to help build it.