Hamilton, Bermuda, August 5, 2025 – Chainwire
The Solana DeFi landscape is expanding with the acceptance of ONyc, OnRe’s high-yield asset, as collateral. This advancement facilitates the connection of tangible, real-world returns to the digital world of decentralized finance. Initiatives sponsored by USDG and Ethena are now underway to decrease borrowing expenses, amplify earning potential, and encourage the integration of real-world asset-backed collateral on the blockchain.
Onchain Yield Coin (ONyc), a stablecoin-backed asset generating yield and issued by OnRe, has been incorporated into Kamino, Solana’s premier DeFi money market. This marks a significant milestone as reinsurance-backed yield is utilized as on-chain collateral within the Solana DeFi ecosystem. This integration provides access to real-world risk through a fully integrated, liquid, and robust asset.
A Novel Approach to DeFi Yield
Kamino manages stablecoin TVL exceeding $700 million and acts as a cornerstone for liquidity management and capital allocation strategies within the Solana network. Now that ONyc is functional on Kamino, users can:
- Utilize ONyc as collateral for borrowing, lending, or developing sophisticated looping strategies.
- Benefit from approximately 14% or more in baseline yield, which is independent of crypto market fluctuations.
- Access and exit positions around the clock via on-chain liquidity pools.
- Monitor Net Asset Value (NAV) in real-time through reliably verified pricing data.
Taken together, these features empower ONyc as an effective instrument for capital deployment regardless of overall market conditions. By facilitating lending, borrowing, and sophisticated looping in a composable manner, ONyc effectively integrates real-world yields into the core operations of Solana’s DeFi environment.
This integration is facilitated through Chainlink’s Onchain NAV solution, which fetches ONyc’s NAV directly from OnRe and delivers it in real-time using Chainlink Data Streams. This system guarantees secure and tamper-proof pricing, which is critical for safe collateralization, supporting reinsurance-driven strategies with verifiable, on-chain fund valuation.
“The activation of ONyc on Kamino represents a pivotal movement in DeFi, effectively introducing real-world returns to Solana with the transparency, fluidity, and composability that define the network,” stated Dan Roberts, Co-Founder and CEO of OnRe. “This presents a new category of collateral that is crafted to endure through various market phases, maintaining solid DeFi engagement. Solana is now a center for avant-garde financial solutions, and Kamino consistently sets the benchmark for how real-world assets should be conducted on-chain.”
Incentive Programs for Early Adopters
To drive initial uptake, OnRe is implementing several incentive schemes in collaboration with Kamino, Global Dollar Network, and Ethena.
Borrowing Advantages
A rewards pool of $200K is available to reduce borrowing costs for those depositing ONyc as collateral to borrow USDG on Kamino. This reduces expenses and creates opportunities for greater yield spreads.
“This implementation represents one of the first fully permissionless applications of real-world yield deployed directly on-chain via DeFi,” according to Nick Robnett from Paxos, representing Global Dollar Network. “We proudly back ONyc’s release on Solana and Kamino, harnessing USDG to advance OnRe’s mission of bringing real-world assets that have fundamental value on-chain, making them accessible globally.”
Looping Options
Participants can redeploy borrowed USDG to acquire more ONyc or other assets, thereby enhancing their exposure and accessing higher potential earnings. Incentives apply to up to $20 million in total borrowing volume.
Ethena Points Booster
Furthermore, OnRe is presenting a 5x Ethena Points multiplier to ONyc holders on eligible sUSDe deposits, further incentivizing the provision of real-world yield collateral.
Integrating Real-World Yield Mechanics in DeFi
ONyc connects premium-supported yield originating from real-world assets with decentralized finance (DeFi) infrastructure. This combination enables an on-chain structure that is set to boost scalability and diversification, extending beyond typical financial instruments.
“A major draw for Kamino’s clientele is integrating high-quality collateral assets, and ONyc excels as an example. ONyc holders gain access to credit and leverage, powered by Kamino, illustrating how DeFi utility can be brought to tokenized, real-world investments,” says Mark Hull, a Kamino contributor.
With base yields surpassing 14% and growing utility across Solana, ONyc offers users a potent substitute to conventional DeFi strategies. Direct minting is available on the OnRe app, or instant swaps through Kamino Swap within the OnRe Market.
About Kamino
Kamino Finance leads as the foremost money market on Solana, controlling over $4 billion across its credit, leverage, and liquidity product range. Utilizing features like automated liquidity vaults, the K-Lend lending marketplace, and tools designed for complex trading algorithms, Kamino aids both users and organizations in efficient capital deployment. Kamino is a hub for funds, market facilitators, and stablecoin issuers that function at scale on Solana.
About Global Dollar Network
Global Dollar Network is recognized as the world’s fastest expanding stablecoin network, offering unparalleled financial potential. Powered by Global Dollar (USDG), a U.S. dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, the Global Dollar Network delivers a clear and balanced financial framework that rewards partners for active participation. Network partners include Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, and Worldpay. (USDG is available on Solana, Ink, and Ethereum.)
About Chainlink
Chainlink stands as a crucial component in the blockchain sector, establishing a global benchmark for connecting blockchains to real-world data feeds, additional blockchains, governmental bodies, and enterprise systems. Chainlink has enabled tens of trillions in transaction value across the blockchain economy, fueling critical functions in DeFi, banking, tokenized real-world assets (RWAs), cross-chain transactions, and more. More information can be found at chain.link.
About OnRe
OnRe connects the reliable $750 billion global reinsurance market with blockchain’s transformative potential. Holding licenses to allocate digital assets as insurance collateral, OnRe grants investors new access to consistent, real-world yield through structured products designed to perform steadily regardless of market fluctuations. With a dedication to transparency, scalability, and optimal capital use, OnRe is reshaping how capital is deployed, providing access to a system often viewed as inaccessible.
Disclaimer: This communication is solely for informational purposes and does not constitute an offer to sell or a solicitation to purchase any securities or digital assets. While ONyc can be accessed through decentralized protocols like Kamino, OnRe does not manage or have control over any secondary market for the token. All secondary trading is performed independently of OnRe. Investment involves risk. Redemptions with OnRe are reserved exclusively for qualified investors. Access may be limited in certain jurisdictions.
Contact
Head of Operations
Sarah George
OnRe
sarah@onre.finance