Skip to content
Companies

Hourglass Financial

Marketplace for selling locked DeFi positions early

Raised to date

$1.1M

of $3.6M offered across 1 Form D filing

Still open
$2.5M
Investors
5
Last filed
Apr 17, 2026

About

Hourglass is a San Francisco company building market infrastructure for pricing time and risk in on-chain finance. It issues Time-Bound Tokens (TBTs) - non-custodial, semi-fungible ERC-1155 tokens that represent an asset locked or staked in a DeFi protocol - and runs a marketplace where holders can sell that position before the lockup expires. The marketplace launched by tokenizing Lido's staked-ether withdrawal queue and locked Frax ether, letting users exit early at a market-set discount. The company was founded in 2022 by Charlie Pyle, previously a co-founder of ZetaChain, and has roughly 16 employees.

The first marketplace for trading time-locked positions: by wrapping a lockup in a transferable ERC-1155 token, Hourglass gives an otherwise illiquid staking or withdrawal-queue position a price and an exit, without the holder giving up custody.

Funding

  • EquityFiled Apr 17, 2026Form D
    $1.1M/ $3.6M

Product

Hourglass Time-Bound Token marketplace

DeFi marketplace / crypto financial infrastructure

A marketplace for Time-Bound Tokens, which represent staked or otherwise locked DeFi assets plus their accrued rewards. Holders mint a TBT against a locked position and can sell it to a buyer willing to wait out the remaining lock, at a discount set by the market and the time remaining.

  • Time-Bound Tokens built as non-custodial semi-fungible ERC-1155 tokens
  • Secondary market pricing lockups at a time-based discount
  • Tokenization of the Lido staked-ether withdrawal queue

Built for

DeFi depositors, stakers and liquidity providers holding assets in lockups or withdrawal queues, plus the protocols that operate those lockups.

People on file