TL;DR
- OnRe launched its ONe token and its first on-chain reinsurance pool, backed by Ethena Labs, Solana, and RockawayX.
- The project offers decentralized access to the reinsurance market, a sector that moves around $750 billion globally.
- Its model combines premiums, sUSDe collateral returns, and protocol rewards, targeting yields of 30% in bull markets and 8% in downturns.
OnRe, a regulated reinsurance company built on blockchain technology, announced the launch of its ONe token and its first on-chain reinsurance fund.
The company is backed by Ethena Labs, Solana Foundation, and RockawayX. Its goal is to offer decentralized exposure to the global reinsurance market, a $750 billion industry that has traditionally remained out of reach for most investors.
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OnRe is live — backed by @ethena_labs, @SolanaVentures and @Rockaway_X — unlocking stable, scalable yield built to perform in both bull and bear markets.Now delivering ~40.35% projected yield, composable with sUSDe.
Full story on @TheBlock__ ↓ https://t.co/38b5MA7Uk6
— OnRe (@onrefinance) May 21, 2025
Licensed in Bermuda, the project allows users to deposit sUSDe — a staked version of Ethena’s USDe stablecoin — into a diversified pool hosted on Solana. That capital funds reinsurance contracts covering risks like natural disasters, accidents, and other events that are independent of traditional market cycles. According to OnRe’s estimates, this model can generate returns of over 30% in bull markets and around 8% during adverse conditions.
OnRe: Delivering Exceptional Yields
ONe’s yield strategy relies on three sources: insurance premiums, returns from sUSDe collateral, and internal incentives from the ONRE protocol. The company claims it can generate the same income with $10 million in TVL as a traditional money market fund would with $500 million under management. This difference comes from reinsurance’s lack of correlation with conventional assets like stocks, bonds, and cryptocurrencies.
A risk management committee of five specialists — including two in-house actuaries and a representative from Willis Towers Watson — oversees the platform. The company has also implemented KYC procedures for minting ONe tokens, although users can still trade in secondary pools like Orca, with Kamino pools set to follow soon.
Ethena stated that this partnership allows over $6 billion in stable capital currently seeking better returns to be mobilized. It also opens one of the oldest and most profitable financial sectors, traditionally closed off, to both retail and institutional investors. OnRe plans to expand its offering with additional pools and tokenized financial products.
