Pyth Network Introduces Redemption Rate Feeds, Opening Doors to New DeFi Opportunities 

Oracle service Pyth Network The platform has just announced the rollout of its Redemption Rate Feeds (RRF), a significant step to bolster its influence within the decentralized finance (DeFi) landscape.

The RRF is crafted to generate fresh DeFi markets by supplying live redemption values for liquid staking tokens (LSTs), liquid restaking tokens (LRTs), and stablecoins that yield returns. It offers a more detailed pricing structure that traditional feeds often overlook. By sourcing data directly from smart contracts, including accrued rewards and interests, these feeds provide a true depiction of token value, setting them apart from standard market data and catering to specific derivative products.

With these advancements, DeFi platforms can access accurate valuation information for intricate assets like liquid staking tokens and yield-generating stablecoins. This innovation marks a shift from estimated worth to precise valuation, enhancing the utility of Pyth Network price feeds for a broader range of protocols.

The launch encompasses nineteen feeds for the Ethereum Virtual Machine (EVM), which include a variety of tokens like CDCETH from Cronos Chain, wUSDM from Mountain Protocol, USDY from Ondo Finance, STONE from StakeStone, and sUSDe from Ethena Labs. It also features important staking pairs such as CBETH-ETH and RETH-ETH. These feeds are open to all DeFi developers without restrictions.

What Is Pyth Network?

It provides asset price data The feeds operate across multiple blockchains, allowing smart contract applications to acquire real-time data from financial markets. They aggregate price information from more than ninety-five primary sources, including market-making firms and cryptocurrency exchanges, ensuring a reliable and accurate depiction of current market conditions through frequent updates. Currently, the protocol supports over 450 distinct price feeds, covering a wide spectrum of assets, from cryptocurrencies and commodities to US stocks.

Recently, Pyth Network uk An on-chain price feed has been introduced for EIGEN, the native token associated with the Ethereum-based restaking initiative, EigenLayer, providing the EIGEN-USD pairing. uz It's important to remember that the information on this page is not intended as legal, tax, investment, financial advice, or anything similar. Always invest only what you can afford to lose, and consider seeking independent financial counsel if you're uncertain. For more details, refer to the issuer’s or advertiser’s terms, conditions, and support resources. MetaversePost is dedicated to providing accurate and impartial news coverage, although market conditions can fluctuate without warning.