Pye Finance Raises $5M to Unlock Solana’s Idle Staked Assets With Variant and Coinbase
PositiveCryptocurrency

- Pye Finance has successfully raised $5 million in a seed funding round led by Variant and Coinbase Ventures, aimed at creating an on-chain marketplace for trading locked Solana staking positions. This initiative seeks to unlock idle staked assets within the Solana ecosystem, enhancing liquidity for investors.
- This funding is significant for Pye Finance as it positions the startup to capitalize on the growing interest in decentralized finance (DeFi) and the Solana blockchain, which has seen increased activity and investment from major players like Coinbase.
- The development reflects a broader trend in the cryptocurrency market where companies are increasingly focusing on enhancing liquidity and accessibility of staked assets. Coinbase's ongoing investments in Solana and its recent acquisition of decentralized trading platforms underscore a strategic commitment to expanding its influence in the DeFi space.
— via World Pulse Now AI Editorial System







