# Stakers {% hint style="info" %} The Pye Exchange is in early access. Sign up to the [waitlist](https://app.pye.fi/) to get early access to DeFi opportunities for stakers. {% endhint %} ## What Stakers Can Do on Pye Pye lets you sell your future staking rewards today and receive SOL immediately, without unstaking or waiting for a cooldown period. If you have SOL that's already staked with a validator, you can sell your future rewards directly, your SOL stays staked, your validator relationship stays intact, and you get paid now for committing the stake to pre-defined lockup durations. If you deposit liquid SOL (SOL sitting in your wallet, not yet staked), Pye will delegate it to a whitelisted validator in a lockup and split your position into Principal tokens (PT) and Reward tokens (RT). You can then sell the RT on Pye's orderbook for SOL, or hold both tokens until maturity. {% hint style="info" %} **What is staked SOL?** When you delegate SOL to a validator on Solana, it becomes "staked SOL" the next epoch — earning rewards each epoch but otherwise inaccessible. Pye lets you access the value of those future rewards without waiting or unstaking. {% endhint %} *** ## How to Sell Your Future Rewards The simplest way to transact on Pye is through the **Rewards Widget**. 1. Connect your wallet 2. Choose your deposit 3. Select a maturity date and the amount you want to lock up 4. Review the discount rate and estimated SOL you'll receive 5. Sign the transaction Once the transaction executes, you'll receive SOL immediately. You'll also receive PT tokens, which represent your principal and can be redeemed 1:1 for SOL at maturity, held, or sold on Pye's orderbook. *** ## Understanding the Discount Rate
When you sell your future rewards on Pye through the Rewards Widget, you receive SOL at a discount to the full value you would have earned by waiting. The discount rate is the difference between what you receive today and what you would have earned at maturity. * A **lower discount rate** means you give up less — you're closer to full value. * A **higher discount rate** means you give up more in exchange for receiving SOL sooner. The price is set by what available buyers are willing to take based on the discount and lockup period. {% hint style="info" %} Before you sign, the Rewards Widget will show you how much liquidity is available on Pye's orderbook to fill your order at your chosen size and rate. If liquidity is thin, you may receive a warning that your order could sit unfilled. {% endhint %} Traders with early access can also set limit orders directly on the Pye Exchange if they want more control over the rate they accept. *** ## Deposits **Existing stake accounts** — If you're already staked with a whitelisted validator, Pye tokenizes your stake account into two SPL tokens — a PT and an RT. Whoever holds those tokens has the right to redeem them. Your SOL stays staked and there is no cooldown period. *** ## Redemptions at Maturity At the end of each quarter, all PTs and RTs can be redeemed: * **PT holders** redeem 1:1 for SOL. * **RT holders** receive all staking rewards — inflation, MEV, and any priority fees shared by the validator — that accrued from the deposit date to maturity. If you sold your RT at the time of deposit, there is nothing to redeem on the RT side. Your PT remains in your wallet and can be redeemed at maturity, sold on the orderbook, or held. *** ## FAQ
How do I redeem at maturity? You can redeem via the Rewards Widget or Pye Exchange.
How will I know the maturity date? Tokens are labelled with maturity dates in the metadata.
Do I need to unstake to use Pye? No. Existing stake accounts from whitelisted validators can be used directly. Your SOL stays staked.
What happens to my staked SOL after I transact? Pye tokenizes your staked position into two SPL tokens — a PT and an RT. Your SOL stays staked with the validator. Whoever holds those tokens has the right to redeem them at maturity.
What is the PT I received and what do I do with it? 1 PT = 1 SOL at maturity. You can hold it and redeem it on Pye when the maturity date arrives, or trade it on the Pye Exchange.
What do I get back at maturity? You will receive SOL when redeeming PTs and RTs at maturity.
Can I exit my position before maturity? Yes. PT and RT tokens can be sold on the Pye Exchange at any time before maturity.
What if there isn't enough liquidity to fill my order? The Rewards Widget will alert you before you sign. You can reduce your order size, adjust your discount rate, or wait for liquidity to improve.
What is the minimum deposit? The minimum deposit is 0.01 SOL. Solana requires a small amount of SOL to cover rent exemption when creating a stake account — this is a network requirement, not a Pye fee.
Do I pay fees? Fees are paid by the taker on the Pye Exchange. Pye has set minting fees to zero for now — this is subject to change in the future.
What if my validator goes offline before maturity? Your PT is always safe — Solana does not have slashing. If a validator goes offline, your PT remains redeemable for 1 SOL at maturity. Any RT rewards that accrued before the validator went offline are also safe. RT rewards will stop generating if the validator ceases operations. Do your own research before choosing a validator or buying their rewards.
Which validators are available? You can browse whitelisted validators in the Rewards Widget or on the Pye app.
Is there a points program? Yes, points are running in the background. More details will be disclosed over time.
--- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.pye.fi/stakers.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.