What is Pye?
Welcome to Pye’s documentation! This site provides an overview of our suite of products, including technical information on mechanism design, protocol technology and our roadmap.
Last updated
Welcome to Pye’s documentation! This site provides an overview of our suite of products, including technical information on mechanism design, protocol technology and our roadmap.
Last updated
Pye.fi is building the latest primitive for DeFi on Solana: Liquid Staking Bonds (LSBs). unlock new financial opportunities for every validator and Liquid Staking Token (LST) on Solana. By introducing bond markets for staked SOL, Pye enables users to unlock liquidity, hedge staking rewards, and maximize capital efficiency—without sacrificing network decentralization.
Despite Solana’s thriving ecosystem, 91% of staked SOL remains illiquid, limiting its utility in DeFi and locking capital. Pye bridges this gap by allowing stakers to continue delegating to their preferred validator or LST.
Liquid Staked Bonds unlock the next generation of DeFi on Solana giving users:
Access to Liquidity – Sell future staking rewards while keeping SOL staked.
Optimize Staking Yields – Hedge against yield fluctuations and secure fixed returns.
Enable Yield Trading – Buy and sell staking rewards on open markets.
At its core, Liquid Staked Bonds tokenizes staked SOL into two tradable assets:
Principal Tokens (PTs) – Represent the original staked amount, redeemable at maturity.
Yield Tokens (YTs) – Represent future staking rewards, which can be traded independently.
Pye.Fi is unlocking new use cases for staked SOL while ensuring that validators, LSTs, and DeFi users alike can fully leverage the potential of Solana’s staked capital.