Create a Lockup

This guide is intended for whitelisted validators who are issuing Lockups. In order to create a lockup, your organization needs to approve specific wallets affiliated with your validator organization as authorized issuers. This grants access to the approved accounts to sign and create the Lockups.

If you have not yet completed the whitelisting approval process, please refer to the Validator Onboarding section for detailed instructions on how to register your validator, complete issuer verification, and gain access to creating Lockups.

After a Lockup is created and issued onchain, it cannot be deleted and will run until maturity, however Validators will be able to toggle visibility of the lockups between public and private.

STEP 1: Lockup Parameters

• Go to https://app.pye.fi/

• Navigate to the /Create Lockup tab

• Input the following parameters:

  • Single Depositor (optional): Whitelist a single depositor address that will be able to deposit into the Lockup.

  • Lockup Duration: Date/time when the lockup ends (eg. 3m, 1yr into the future), also referred to as "maturity".

  • Deposits Start: Date/time when stakers can begin depositing SOL or stake.

  • Deposits End: Date/time when stakers may no longer deposit.

Notes:

• Validator Vote Key: No need to enter this, it will auto-populate after whitelisting.

STEP 2: Commission Structure

Pye allows validators to set custom commission for each reward source:

• Inflation Commission: The % of inflation the validator keeps.

• MEV Commission: The % of MEV the validator keeps.

• Block Rewards Commission: The % of block rewards the validator keeps.

For more information visit our technical specification section.

STEP 3: Review Token Details

• The symbol and metadata URI are autogenerated.

• Please review the symbols for both the PT and YT tokens and make sure the dates are correct.

Note: Stake Accounts get tokenized via the issuance of SPL tokens representing the principal and rewards of the account.

Step 4: Sign TX in wallet

• Confirm your transaction in the notification window of your wallet

Step 5: Share Link to new Lockup page

Congratulations, you have now issued a Lockup.To share the Lockup directly with your stakers for deposit:

• Copy the generated link URL and share.