OnRe
A regulated on-chain reinsurer bridging real-world risk and on-chain capital
Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$8.23KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $8.23K | -- | -- | -- |
| Sep 2026 | $82.35K | -- | -- | -- |
| Aug 2026 | $629.89 | -- | -- | -- |
| Jul 2026 | $14.68K | -- | -- | -- |
| Jun 2026 | $44.27K | -- | -- | -- |
| May 2026 | $1.01K | -- | -- | -- |
Comparison
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About OnRe
OnRe is an on-chain reinsurance company that allows on-chain capital to underwrite regulated, real-world reinsurance risk. Its core product, ONyc, is a yield-bearing token backed by stablecoins and real-world reinsurance underwriting. The core value proposition is providing access to reinsurance yields, which are uncorrelated with crypto markets. The market pain point is that the traditional reinsurance market has high barriers to entry, while on-chain capital seeks transparent, real-world yields. OnRe addresses this through a regulatory-first framework, transparent on-chain settlement, and a multi-layered risk absorption structure. In the six months from March to September 2026, OnRe experienced significant growth. By August 2026, assets under management reached $279.84 million, up 13.84% month-over-month, with total ecosystem TVL surpassing $400 million. Nearly 90% of ONyc was utilized, with $152.72 million in capital at risk. The company bound two new reinsurance deals in August, bringing total bound deals to 28. OnRe also expanded its DeFi integrations, with ONyc becoming the largest RWA asset on Kamino and significant deposits on Loopscale and Exponent. The company also commissioned an independent assessment from Allez Labs, which rated ONyc as High Quality Collateral and launched a live DeFi risk dashboard. However, it's important to note that ONyc's yield is not guaranteed and depends on underwriting performance, with risks including potential claims exceeding reserves, although the structure includes multiple layers of protection.
OnRe has evolved from a traditional reinsurance model into an onchain asset manager. Key milestones include the launch of ONyc, a multi-collateral yield-bearing token that replaced the earlier ONe product, integrating sUSDe from Ethena as the first collateral layer. The introduction of the Global Access flow enabled permissionless acquisition of ONyc, marking a shift toward decentralized distribution. The OnRe Points program further incentivized participation, rewarding users for holding, providing liquidity, and engaging with DeFi protocols on Solana. These steps collectively position OnRe at the intersection of real-world reinsurance yield and onchain finance, with a focus on transparency, regulatory alignment, and scalable infrastructure.
Over the past six months, OnRe has demonstrated significant growth and strategic expansion. Assets Under Management (AUM) surged from $143.71M in April to $279.84M by August, reflecting strong market adoption. Key milestones include the expansion of ONyc accessibility through USDT deposits and integration with the Avici App, broadening its user base. The protocol also deepened its DeFi footprint, with ONyc markets on Kamino surpassing $250M and on Exponent exceeding $40M, while total deposits on Loop Finance crossed $90M. A pivotal development was the launch of risk tranching in June, splitting yields into senior (srONyc) and junior (jrONyc) positions, which led to the formation of a market-driven price curve. This was supported by an independent A- risk assessment from Allez Labs. Looking ahead, OnRe aims to enhance ONyc's composability, liquidity, and accessibility across internet capital markets, focusing on deepening integrations, expanding reinsurance capital deployment, and strengthening its position as a leading onchain reinsurance protocol.
Co-founders:
Dan Roberts (CEO): Founded multiple startups including Lacuna Health and Flyingcarpet, later founded Nayms (now OnRe) focusing on on-chain reinsurance.
Theodore Georgas (CTO): Technical background, involved in several blockchain projects, responsible for Nayms/OnRe's architecture and backend development.
Ayyan Rahman (CGO): Previously at Gateway (acquired by Circle), led strategic partnerships and growth, now oversees capital deployment and partnerships at OnRe.
Key executives:
Sarah George (Head of Operations): Manages daily operations.
Nuno Carvalho (Head of Product): Leads product design.
Benjamin Peach (Head of BD): Drives business development.
Matthew Wixon (General Counsel): Handles legal affairs.