Hamilton, Bermuda, August 5, 2025
OnRe’s yield bearing asset, ONyc is now accepted by Solana as collateral in his decentralized finance ecosystem (DeFi).
The integration of yields from real world sources in DeFi applications is now possible. USDG and Ethena launched incentive programs to lower borrowing costs, increase yields, and encourage the use of collateral from real world.
Onchain Yield Coin, a stablecoin-backed yielding asset, issued by OnRe is now available on Kamino. Kamino is Solana’s biggest DeFi money exchange. The integration is the first to use reinsurance-backed onchain collateral for Solana DeFi. This opens up access to real world risk via a composable and liquid asset.
DeFi: A new form of yield
Kamino has secured over $700M of TVL stablecoins and is a key component in the Solana Ecosystem’s capital and liquidity strategies. ONyc is now available on Kamino.
- Use ONyc collateral to borrow, lend, or use looping strategies
- Uncorrelated with crypto volatility, earn a base yield of 14%.
- Onchain Liquidity allows you to enter or exit your positions at any time.
- Verifiable price data allows you to track NAV in real-time.
These capabilities together make ONyc an effective tool to deploy capital in any market condition. ONyc’s ability to enable lending, borrowing and looping, in a modular way, brings the real-world return into use within Solana’s DeFi ecosphere.
Chainlink Data Streams, Chainlink’s Onchain NAV integration solution, is responsible for the integration. It sources ONyc’s net asset values from OnRe in real-time and then delivers them via Chainlink Data Streams. It ensures that pricing is not tampered with and allows for secure collateralization. This supports reinsurance strategies using verifiable onchain fund values.
OnRe’s CEO and Co-Founder Dan Roberts said: “ONyc’s launch on Kamino represents a wider shift in DeFi. It brings real-world yields to Solana, with transparency, liquidity and composability that the ecosystem was designed for.” It introduces a class of collateral that is designed to support DeFi and perform well through all market cycles. Kamino is continuing to be the benchmark for real assets operating onchain .”
Early Participation Incentives
OnRe has launched incentive programs to encourage early adoption in collaboration with Kamino Global Dollar Network and Ethena.
Borrowing incentives
Users who use ONyc to secure USDG loans on Kamino can benefit from a $200k reward pool. The $200K reward pool will lower borrowing costs for users who deposit ONyc as collateral to borrow USDG on Kamino.
Nick Robnett, Paxos on behalf Global Dollar Network said: “This is one of the very first permissionless implementations onchain of real-world assets with intrinsic value.” We are pleased to be able to help ONyc launch its services on Solana, Kamino and USDG. This will allow OnRe to achieve their vision to bring real assets of intrinsic value to the blockchain and make them available to all users. .”
Looping Strategy
The participants can use the USDG they have borrowed to purchase additional ONyc, or assets of their choice. This will increase exposure and allow them to unlock higher returns. The incentives are available for borrowing volumes up to $20M.
Ethena points multiplier
OnRe also offers a multiplier of 5 times Ethena points to ONyc owners on sUSDe qualifying deposits. This unlocks additional rewards for those who provide real-world collateral.
Implementation of Real-World Yield mechanisms in DeFi
ONyc combines premium-backed returns from real-world asset with DeFi infrastructure to enable an onchain system that supports scalability, diversification and scalability beyond traditional financial instruments.
ONyc, powered by Kamino, is an excellent example of how DeFi utility can be used to tokenize real-world investments. Mark Hull is one of Kamino’s contributors. He said that ONyc owners can now access credit and leverage, thanks to Kamino.
ONyc offers a superior alternative to the traditional DeFi strategy with yields over 14%. You can mint directly in the OnRe App or instantly swap using Kamino Swap.
Kamino
Kamino Finance, the largest money-market on Solana with more than $4B of assets, offers a wide range of products for credit, liquidity, leverage and other financial needs. Kamino offers a range of products, including automated liquidity vaults and the K-Lend market for lending, as well as tools to help users develop advanced trading strategies. Kamino has become the platform of choice for stablecoins, funds and market makers operating on Solana.
Global Dollar Network
Global Dollar Network has the fastest-growing stablecoin network in the world, with an unrivaled economic benefit. Global Dollar Network is powered by Global Dollar, a US-dollar stablecoin that’s issued by Paxos Digital Singapore & Paxos Issuance Europe. It offers an equitable and transparent economic model which rewards its partners. Global Dollar Network includes industry leaders like Anchorage Digital (Bullish), Kraken (OKX), Paxos(Robinhood), Worldpay and others. USDG can be purchased on Solana Ink and Ethereum.
Chainlink
Chainlink, the industry’s backbone, is a global standard that connects blockchains with real-world data and other blockchains as well as governments and enterprise systems. Chainlink is the backbone of blockchain technology, enabling tens and tens trillions worth of transactions across all sectors. It powers critical applications in DeFi, Banking, Tokenized Real-World Assets (RWAs), Cross-Chain, etc. You can find out more about Chainlink by visiting the website chain.link.
about OnRe
OnRe combines the security of the $750B global market for reinsurance with the power of Blockchain. OnRe, which is licensed to use digital assets for insurance collaterals, provides investors with direct and consistent access to real-world returns through products that are designed to work across all market cycles. OnRe, with its focus on transparency and scalability as well as capital efficiency is revolutionizing how capital is allocated, giving investors access to an opportunity that was previously out of their reach.
Disclaimer: The announcement provided here is only for informational and educational purposes. It does not represent an offer or solicitation to purchase any digital assets or securities. ONyc is accessible through decentralised protocol such as Kamino. However, OnRe doesn’t operate nor control any secondary markets for the token. OnRe is not involved in secondary trading. Risk to capital. Only qualified investors can redeem with OnRe. Certain jurisdictions may restrict access.
You can Contact Us
Sarah George, Head of Operations at OnRe Finance (sarah@onre.finance)
As new information becomes available, this post ONyc launches on Kamino: Unlocking real-world yield and collateral utility in Solana DeFi might be updated.
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