Catenaa, Friday, May 30, 2025-OnRe, a regulated blockchain-based reinsurance firm, launched its ONe token and pool on Wednesday, opening access to the $750 billion reinsurance sector through decentralized finance.
Backed by Ethena Labs, Solana Ventures and RockawayX, OnRe integrates Ethena’s synthetic dollar protocol and Solana’s network infrastructure. Users can deposit sUSDe, a staked version of Ethena’s USDe stablecoin, into a Solana-based reinsurance pool to earn returns derived from insurance premiums, protocol incentives and collateral yields.
The Bermuda-licensed project operates with oversight from a five-member insurance committee, including actuaries from Willis Towers Watson and internal experts. Projected returns vary from 30% in bullish markets to about 8% in downturns, according to the firm.
OnRe said its model allows smaller capital pools to generate disproportionately high returns, noting a $10 million total value locked (TVL) in the ONe pool could match the income of a $500 million traditional money market fund.
The company aims to democratize access to reinsurance markets, traditionally limited to institutional investors. Founder Guy Young of Ethena said the protocol brings meaningful yield opportunities to over $6 billion in staked capital, while remaining compliant through know-your-customer and anti-money laundering procedures.
Participants can mint ONe after passing KYC checks or engage via decentralized pools like Orca and upcoming Kamino integrations. The ONe token is also designed to interact with DeFi funding rates and Solana-based protocols.
OnRe plans to roll out additional pools and ultimately tie user incentives and future governance to its ONRE token.
