Redeem

Overview

Redeeming will burn your PSOL and/or YSOL tokens in exchange for the underlying collateral:

  • pSOL: Redeemable 1:1 for SOL.

  • ySOL: Redeemable for the yield produced by pSOLs until maturity.

Redemptions can be made immediately after the maturity timestamp of the bond. ySOL yield is split pro rata by its token holders, meaning that if the yield backing ySOL is 100 SOL and you own 50% of the ySOL supply, at maturity you can redeem your ySOL tokens for 50 SOL.

The LSTs and validators shown in the images are for illustrative purposes only and do not represent the final list of bond issuers participating in Pye.

Select Bond

STEP 1: Select a bond

  • Go to https://app.pye.fi

  • Navigate to the /bonds page

  • Select one of the rows to stake

Redeem Bond

STEP 2: Input parameters

  • Use the range slider to select how much PSOL to redeem

  • Use the range slider to select how much YSOL to redeem

  • Preview the transaction in the "Summary" section

  • Click "Redeem" to continue

STEP 3: Sign tx in wallet

  • Confirm your transaction in the notification window of your wallet

  • Once the signing process is complete, the redeemed SOL will appear in your wallet

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