# Introduction

## What is Pye

Pye is the principal exchange for trading staking rewards on Solana.

Staking on Solana has always worked the same way: lock up SOL, earn rewards over time, wait. With Pye, stakers can sell their future rewards today and receive SOL immediately. Buyers can purchase those future rewards below market price, gaining discounted exposure to Solana staking rewards across any validator on the platform.

At its core, Pye is powered by [**Programmable Stake Accounts (PSAs)**](https://docs.pye.fi/how-pye-works#the-core-mechanism) — a new staking primitive that splits Solana native stake accounts into principal and reward components:

* **Principal Token (PT)**: A 1:1 representation of the deposit. Accrues no rewards.
* **Reward Token (RT)**: Redeemable for all the rewards accrued till maturity (inflation, block rewards, MEV).

These tokens are SPLs that are tradable, sellable, and can be collateralized. The core product being the [Rewards Widget](https://docs.pye.fi/resources/products#rewards-widget) which allows stakers to be paid their future staking rewards today. Every trade settles on the [Pye Exchange](https://docs.pye.fi/resources/products#pye-exchange) which is an orderbook that has markets for validators where all execution is executed fully on-chain. These components lay the foundation for an entire ecosystem structured products, rate swaps and more.

***

## Why We Built Pye

Solana staking is one of the most reliable rewards sources in crypto — stable, predictable, and battle-tested over half a decade. But despite that stability, stakers have almost no options for what to do with their rewards beyond waiting for them to accrue.

Meanwhile, validators compete on thin margins with little differentiation. Commissions are public, rewards are commoditized, and there is no native market for the value they produce.

We built Pye because staking rewards should be tradeable, validators should have better tools to attract and retain stake, and Solana deserves a proper market for the rewards it generates.

***

## The Core Promise

{% hint style="success" %}
**Get paid your future staking rewards today.**

Stakers can get paid future staking rewards today without waiting for epochs, months, or years. This is based on liquidity, buyers, and other metrics — but the core promise is there.
{% endhint %}

***

## Who Pye Is For

| Participant          | What they get                                                                                              |
| -------------------- | ---------------------------------------------------------------------------------------------------------- |
| **Stakers**          | Liquidity on staking rewards immediately — no waiting for epochs or maturity.                              |
| **Buyers & Traders** | Accumulate SOL at a discount, or gain fixed exposure to staking rewards.                                   |
| **Validators**       | Predictable stake, new revenue streams, better tools to compete, and a way to offer more value to stakers. |


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