Markets & Orderbook

How PT and RT markets are structured, created, and traded across validators on Pye.

The Pye Exchange is in early access. Sign up to the waitlist to get early access trading & the Pye Exchange.

Markets are created and managed on an onchain orderbook is the on-chain trading layer where all PT and RT transactions are matched and settled. Every deposit made through Pye routes through the orderbook. Order types:

• Limit orders — orders placed against a specific validator or LST market at a target rate. Fills when a matching counterparty appears.

• Market orders — fill immediately at the best available rate in a given market.

The orderbook accepts lockups that are arligned with the following fixed maturities schedule for 2026:

Month	Date	Maturity (UTC)	Issuance Start	Issuance Close
June	Jun 30, 2026	1751327940	1738368000	1751155140
September	Sep 30, 2026	1759276740	1738368000	1759103940
December	Dec 31, 2026	1767225540	1738368000	1767052740

More information will be released shortly. Sign up here to get on the waitlist.