Redemption rate definition on LSTs (JupSOL)

Price Feeds
1

Hi there

Im looking for help in understanding the new jupSOL/SOL oracle on Jup Lend. In discord, I got the following definition:

Real-time swap rates derived from smart contracts for the redemption of liquid staking and liquid restaking tokens (LSTs and LRTs), liquidity provider tokens (LP Tokens) and interest-bearing assets, including tokenised notes

However Im still not clear if this means that it’s based on the NAV from the validator or if this is the current market rate for the pair on say Jupiter.

Any help would be much appreciated.

Thanks!

2

gm

Redemption rate feeds from the Pyth Network are usually referring to feeds where the asset is priced from an underlying smart contract instead of actual markets.

For example, Pyth has 2 feeds for INF (Sanctum LST):

The .RR for the 2nd means/refers to redemption rate and priced from the staking contract of Sanctum (usually total SOL staked + yield / total SOL staked).
The 1st price feed (vs USD) is market price, derived from the various pools INF trade in.

JUPSOL/SOL.RR is a redemption feed so it is solely based on the underlying smart contract value and does not take into account the actual trades of JUPSOL

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