What is the redemption?
Redemption is the purchase price paid for the salvation of everyone who believes the gospel. It is through the redemption that is in Christ Jesus, by faith in His blood. Scripture teaches that without the shedding of blood there is no remission or forgiveness of sin.
Les explains that the redemption is the purchase price paid for the salvation of everyone, if they will simply believe the gospel. He connects it to being justified freely by His grace through the redemption that is in Christ Jesus. The text then goes into verse 25, where God set Christ forth to be a propitiation through faith in His blood. Les notes that propitiation will be explained more fully later in the tabernacle in the book of Exodus. He reminds that Hebrews says without the shedding of blood there is no remission or forgiveness of sin, calling it a mandate of God. So redemption is being redeemed by the purchase price of God, which was His blood.