PANews reported on December 8th that Pye Finance has announced the completion of a $5 million seed funding round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent, and Gemini. Pye is developing an on-chain market based on Solana to make time-locked staked assets tradable. The plan is to split staked SOL into independently transferable principal and reward tokens to enhance liquidity and yield management capabilities. Private testing is expected to begin in the first quarter of 2026.