OnRe Tokenized Reinsurance

ONyc is a yield-bearing digital asset built on the Solana blockchain that represents exposure to reinsurance premium income, a segment of the insurance industry that has historically been accessible only to large institutional investors. The project claims to solve the problem of access: retail and smaller investors have generally had no way to participate in reinsurance returns, which the protocol describes as uncorrelated with traditional financial markets. OnRe, the issuer, says it is licensed to deploy digital assets as collateral within reinsurance structures, and ONyc is its first product designed to deliver that exposure.

ONyc is a multi-collateral token that sits on the Solana network and is backed by stablecoins — currently the yield-bearing stablecoin sUSDe — which are used as collateral to underwrite private-placement reinsurance contracts. Holders accrue yield from two sources simultaneously: premiums collected from reinsurance activity and the native yield generated by the underlying collateral assets themselves. No consensus algorithm is recorded for ONyc itself, as it is a token rather than a base-layer blockchain, and block time is listed as zero, consistent with it operating on top of Solana's own infrastructure.

The protocol targets a base yield exceeding 16%, sourced from reinsurance premium performance, with additional return layered on top from the collateral assets, though the data provided does not include a recorded fee stream or protocol-level fee capture figure that this site can display. Approximately 43.76% of the total intended supply is currently in circulation, and the ratio of fully diluted valuation to market capitalization stands at 2.29 at this point in time, reflecting that a meaningful portion of tokens has not yet entered circulation. The dilution overhang figure of 128.55% indicates that the volume of tokens not yet circulating is roughly 1.29 times the size of the current circulating supply, which is relevant context for understanding how the economics of the token may shift as more supply is issued. Because no explicit protocol fee figures are stored here, fee-based measures that this site calculates for other assets cannot be presented for ONyc.