Pyth Network Expands DeFi Capabilities with New Crypto Redemption Rate Feeds

Pyth Network, a leading oracle network, has enhanced its presence in the decentralized finance (DeFi) space with the introduction of a new feature called Redemption Rate Feeds (RRF). This announcement was made on October 24.
The RRF offers real-time valuations for various assets, including liquid staking tokens, restaking tokens, and yield-bearing stablecoins. By providing this data, Pyth Network equips the DeFi market with pricing information that traditional price feeds typically overlook.
How It Works
The crypto redemption rate feeds deliver live values of tokens, sourcing data directly from the smart contracts of the underlying assets. According to Pyth Network, these valuations reflect accrued rewards and interest, distinguishing them from standard market price data.
The RRF focuses on derivatives like liquid staking tokens and yield-bearing stablecoins. These feeds are permissionless and available to DeFi developers across the ecosystem.
At launch, Pyth Network’s redemption rate feeds will support 19 real-time values on Ethereum Virtual Machine (EVM)-compatible networks. This includes assets like Crypto.com’s staked ETH (CDCETH), Mountain Protocol’s wUSDM, Ondo Finance’s U.S. Dollar Yield (USDY), and Ethena’s USDe, a synthetic dollar.
Additionally, the feeds will cover ETH staking pairs, including Coinbase's wrapped staked ETH (cbETH) and Rocket Pool’s liquid staking token (rETH).
Pyth Network is entering the market through collaborations with key industry players, such as market makers, lending protocols, aggregators, and derivatives providers. Initial launch partners include Ionic, ZeroLend, UniDEX Exchange, and Polynomial.
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