🎛️Price Oracle

The Sierra Protocol has been built to update the mint and redeem price every 30 minutes as yield accrues in the underlying vaults. This process runs continously and triggers an onchain update provided sufficient yield has accrued. Once updated, the "exchangeRate" function in the SIERRA token smart contract on Avalanche reflects the new value. This updated exchange rate is the prevailing price used for Authorized Participants minting and redeeming SIERRA.

We have partnered with Redstone, a leading oracle provider, to publish SIERRA's mint and redeem price or "fundamental value" onchain. This data can be ingested by lending markets, curators and others to support SIERRA being used as collateral. Check out SIERRA's data on Redstone here: https://app.redstone.finance/app/token/SIERRA_FUNDAMENTAL/.