Variant, Coinbase Ventures, Gemini and More Invest $5M in Solana Staking ‘Transformer’ Pye Finance

Pye Finance has revealed a $5 million seed round led by some of the major players in the space. The goal is to turn billions in locked SOL stakes into an active yield market. Variant and Coinbase Ventures led this round, with participation from Solana Labs, Nascent, Gemini, and others, according to the press release. Pye says that it’s building bond markets for validators and stakers on Solana (SOL). The platform enables validators to draw and keep stake. They can offer rewards across more than a thousand ...