Pyth Network Expands Its Reach in DeFi Market With New Redemption Rate Feeds Feature

Pyth Network, a top oracle network, has expanded its reach within the decentralized finance market with a new feature dubbed Redemption Rate Feeds.

Pyth Network, a leading oracle network, has unveiled a new feature designed to enhance the capabilities of decentralized finance (DeFi) protocols.

Announced on Monday, the new redemption rate feeds, or RRF, provide real-time valuations for a range of assets, including liquid staking tokens, restaking tokens, and yield-bearing stablecoins.

This data, which is not typically provided by traditional price feeds, is now being made available to the broader DeFi market through Pyth Network (PYTH).

In practice, this means that DeFi platforms will now have access to precise valuation data for complex assets.

“Think of it as moving from estimated value to exact value—a crucial upgrade that enables more protocols to use Pyth price feeds,” Pyth Network wrote in a post on X.

Crypto redemption rate feeds provide live values of tokens, with data being pulled directly from the smart contracts of the underlying assets. This includes any accrued rewards or interest, the Pyth Network team noted.

“It's what makes RRF fundamentally different from market price data,” Pyth added.

These true values are designed to be used for derivatives such as liquid staking tokens and yield-bearing stablecoins, and the feeds are permissionless and available to DeFi builders across the ecosystem.

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

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

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

Pyth Network’s product is entering the market through several key industry integrations with market makers, lending protocols, aggregators, and derivatives providers.

Some of the launch partners include Ionic, a decentralized exchange aggregator; lending protocol ZeroLend; decentralized exchange UniDEX Exchange; and Polynomial, a derivatives exchange.