OnRe Opens $1.2T Reinsurance Market to DeFi Users
OnRe, a pioneering on-chain asset manager, has opened a new gateway for decentralized finance (DeFi) users to access a $1.2T reinsurance market, previously closed to most investors. This marks a significant convergence of traditional and decentralized finance.
OnRe's flagship product, ONyc, is a multi-collateral, dollar-denominated asset backed by reinsurance premiums. In its first week of soft launch, over $1M of ONyc was acquired through this novel route.
The new pathway is an independently operated, permissionless channel, expanding global access for ONyc. It offers DeFi users a direct, frictionless way to tap into reinsurance yields. Key benefits include a dedicated channel for DeFi participants, support for self-custodied wallets, and global availability, subject to jurisdictional restrictions.
To celebrate this launch, OnRe is running a two-week points campaign from October 1 to October 15, offering significant multipliers.
OnRe's dual-pathway approach positions it at the intersection of traditional and decentralized finance. The new channel provides a direct route for DeFi users to access reinsurance yields, opening up a vast market previously closed to them. With the ongoing campaign, OnRe encourages users to explore this innovative opportunity.
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