Shinchan spotted another @pendle_fi like yield trading protocol on @solana that is called @pyefinance.
- Won @Colosseum defi hackathon
- protocol yet to go live
- early access application is currently open
- Alpha: saw there'll be points program soon
Here's a few differences between @RateX_Dex + @pyefinance you might want to know.
(1) Trading mechanism + yield tokenization mechanism
Pye uses orderbook trading + jupiter router for liquidity aggregation; RateX built its own custom AMM optimizied for YT trading (with a Uni V3 + time-decay model). Also Pye focuses on liquid staking bonds splitting staked SOL into principal SOL redeemable at maturity + ySOL as the traded staking rewards; RateX uses a unified framework instead that standardized all type of yield-bearing assets.
(2) Yield trading strategies
RateX gives more diversities for traders to speculate on yield changes as they offer leveraged yield trading; pye is more on structured staking yield
(3) Use cases beyond yield trading
As per Pye's documentation it will allow pSOL to be used as collateral + they have plans for restaking pSOL in protocols like @jito_sol. If you are a passive yield farmer looking for collateralization + restaking atop yield trading, Pye might be a better option.
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