🌎 Pyth Network Launches Real-Time Redemption Rate Feeds for DeFi Assets

Pyth Network, a leading oracle network, has significantly expanded its presence in the decentralized finance (DeFi) market with the introduction of a new feature known as Redemption Rate Feeds (RRF). Announced on October 24, this feature offers real-time valuations for liquid staking tokens, restaking tokens, and yield-bearing stablecoins. With this innovation, Pyth Network provides the broader DeFi market with access to pricing data that traditional price feeds do not offer.

Real-Time Valuations for Complex Assets

The practical impact of the Redemption Rate Feeds is that DeFi platforms now have access to precise valuation data for complex assets. Pyth Network emphasized the significance of this development by stating,

“Think of it as moving from estimated value to exact value—a crucial upgrade that enables more protocols to use Pyth price feeds.”

How Redemption Rate Feeds Work

Crypto redemption rate feeds provide live values of tokens, with data pulled directly from the underlying assets’ smart contracts. According to the Pyth Network team, these true values include accrued rewards and interest, making RRF fundamentally different from market price data.

These types of valuations are particularly useful for derivatives such as liquid staking tokens and yield-bearing stablecoins. The feeds are permissionless and accessible to DeFi builders across the ecosystem.

Initial Integration and Coverage

At launch, Pyth Network’s redemption rate feeds will cover 19 real-time values on Ethereum Virtual Machine (EVM)-compatible networks. These include:

Crypto.com staked ETH (CDCETH)
Mountain Protocol’s wUSDM
Ondo Finance’s U.S. Dollar Yield (USDY)
Ethena’s USDe, a synthetic dollar

The feeds will also include ETH staking pairs, such as Coinbase wrapped staked ETH (cbETH) and Rocket Pool’s liquid staking token (rETH).

Key Industry Integrations

Pyth Network’s new product enters the market through key industry integrations with market makers, lending protocols, aggregators, and derivatives providers. Launch partners include: