Speedstake: Staking Rewards at Solana Speed
Speedstake by Pye lets Solana stakers sell future staking rewards for upfront SOL today, while their principal stays delegated to their validator and remains fully redeemable at maturity. No unstaking, no waiting, access your rewards in under a minute.
Today, Solana staking earns you between 4.5% and 6.5% APY. Epoch by epoch, those rewards accrue. And epoch by epoch, they sit there, untouchable, until stakers withdraw their SOL.
Speedstake gets you staking rewards without the wait. Stakers can sell their future staking rewards for upfront SOL today. Your principal stays delegated to your validator and is fully redeemable at maturity.
Liquidity friction
Currently over 65% of SOL is locked in native stake on Solana. It's illiquid and sits there, earning rewards every epoch, but those rewards only become spendable as they accrue. A staker who needs liquidity sooner has one option: unstake. That option costs them two to three days of wind-down before the SOL is even available, and it costs their validator the delegation. Validators watch stake leave because no infrastructure existed to keep it locked in.
Stakers that sell their future rewards can utilize them in various strategies, from hedging into stablecoins if they predict downturns to using them in experimental and high-risk investments, among others.
How to use Speedstake
Stakers can go directly to speedstake, the app will automatically detect their existing stake with whitelisted validators, choose a duration into the future they want to sell for, and instantly receive the future staking rewards. The entire experience can be done in under one minute.
Validators and those interested also have the option to embed Pye directly into their website for a more streamlined experience.
Check out the demo today.
