Pye Finance has successfully raised $5 million in a seed funding round led by Variant and Coinbase Ventures. The funding also saw participation from Solana Labs, Nascent, and Gemini. Pye is focused on developing an on-chain market on Solana, aiming to make time-locked staked assets tradable by splitting staked SOL into independently transferable principal and reward tokens. This innovation is expected to enhance liquidity and yield management capabilities. Private testing of the platform is slated to begin in the first quarter of 2026.