OnRe

Leading onchain asset manager | Powering Solana's highest-yielding institutional dollar asset backed by real-world reinsurance

[OnRe @onrefinance]

Introducing the OnRe Yield Plus Vault, curated by @AllezLabs.

Built on @ExponentFinance, the vault combines reinsurance-backed yield with fixed-rate markets and onchain leverage through a single deposit.

[OnRe @onrefinance]

As AI makes software easier to build, sources of pricing power in finance remain difficult to replicate.

In its analysis of DeFi value capture, @multicoin highlights OnRe's proprietary data, underwriting expertise, and industry relationships as a durable competitive advantage.

[Spencer Applebaum @SpencerApplebau]

New essay out on the @multicoin blog, which is an evolution of our thinking on DeFi value capture

TLDR is in a world where software costs trend to zero, finance is one of the most obvious industries where moats will exist and DeFi is perfectly positioned https://t.co/iXBtFnZndw

[Exponent @ExponentFinance]

The OnRe Yield Plus Vault brings looped ONyc yield through a single deposit

Curated by @AllezLabs, this vault allocates across fixed-rate and Senior ONyc positions, with eligible assets looped on @kamino

Pre-deposit is live with up to $10K in incentives and 2.5x OnRe Points ↓

[OnRe @onrefinance]

@AllezLabs OnRe 🤝 Allez 🤝 Exponent

[Allez Labs @AllezLabs]

OnRe Yield Plus is now live on @ExponentFinance.

The non-custodial vault accepts ONyc, built on @OnReFinance's reinsurance-backed yield. Allez acts as risk curator, setting the vault's risk parameters.

[OnRe @onrefinance]

The vault is a third-party product that uses leverage and carries liquidation, smart contract, and third-party protocol risk. Losses may exceed those of holding ONyc directly. OnRe is not responsible for its operation and does not manage, custody, or control vault assets.

[OnRe @onrefinance]

Introducing the OnRe Yield Plus Vault, curated by @AllezLabs.

Built on @ExponentFinance, the vault combines reinsurance-backed yield with fixed-rate markets and onchain leverage through a single deposit.

[OnRe @onrefinance]

The vault earns 2.5x OnRe Points, with an additional $10K in incentives for early depositors: $5K available at launch and a further $5K unlocked once vault deposits exceed $1.5M.

Access the OnRe Yield Plus Vault ↓ https://t.co/At28gaMcIP

[OnRe @onrefinance]

Join the OnRe team and builders from across @solana’s RWA ecosystem in London for an evening of RWA Real Talk.

[RockawayX @RockawayX]

Join some of the biggest players in @Solana to discuss how to build and scale the right RWAs over Breakpoint.

Apply here 👇

https://t.co/AfMuY305Uw

[Exponent @ExponentFinance]

Credit positions on @kamino are now visible in the Exponent Portfolio

Exponent structured products bring distinct collateral profiles, from fixed yield to Senior protection, with Net APY, LTV status and oracle data now easy to monitor

Track credit positions in the Credit tab ↓

[OnRe @onrefinance]

ONyc remains the largest asset across all three @ExponentFinance verticals, with over $36M in TVL, per @BlockworksData.

From fixed-rate yield to leveraged strategies and senior-protected exposure, ONyc continues to support a growing range of strategies across DeFi.

[Blockworks Data @BlockworksData]

NEW: Now covering Exponent Finance
Financials, Yield Markets, Risk Markets & Strategy Vaults.

Exponent is growing beyond its yield derivatives roots, with $69M in TVL across 3 verticals. Its newer Risk Markets and Strategy Vaults already account for 24% of TVL.
ONyc remains its largest asset across all 3 verticals, with ~$36M in TVL.

[OnRe @onrefinance]

https://t.co/3PfkpACzUm

[Kamino Learn @kamino_learn]

Why doesn’t a sell-off in ONyc’s DEX pool move its price on Kamino?

Scope, Kamino’s in-house oracle infrastructure, values ONyc at its NAV, the value per token that @onrefinance calculates onchain, read from both chainlink and PythNetwork

The pool price is a check. It has to sit within 1% of the NAV, and if it drifts further, Scope stops updating, so borrowing and liquidations wait until the two line up again

This means your ONyc collateral moves with its NAV, whatever the pool trades at

[OnRe @onrefinance]

@kamino 👀

[OnRe @onrefinance]

Reinsurance premium is earned throughout the term of a deal, with little earned on day one.

Expected loss is modeled for each deal by the perils and regions covered, and loss seasonality is estimated for each deal weighted by its contribution to expected loss.

Certain perils, such as earthquake and man-made perils, have a uniform distribution across the calendar year, while others are seasonal.

For many of OnRe's hurricane-exposed deals, exposure sits at a level where a major hurricane would be needed to cause a loss. Historically, the seasonality of major hurricanes (Category 3 and above) has followed a different pattern from that of all hurricanes.

Aggregate and subsequent-event deals require multiple events to trigger a loss, resulting in a delayed seasonality pattern. Claims development, delayed reporting, and potential capital trapping are also factored into the assessment of earnings.

Premium earning accelerates through periods of higher loss seasonality and culminates upon the release of liability and funds from the deal trust account.

At a portfolio level, the different earnings patterns and inception dates of each deal contribute to a more balanced earnings profile.

[OnRe @onrefinance]

More in this week’s Underwriting Commentary:

[OnRe @onrefinance]

https://t.co/1feqxSPxbj