Solana's Decentralized Finance (DeFi) landscape expands with ONyc's launch on Kamino, introducing tangible returns and collateral utility in the real world.

Solana's Decentralized Finance (DeFi) landscape expands with ONyc's launch on Kamino, introducing tangible returns and collateral utility in the real world.

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OnRe, a company licensed to deploy digital assets as insurance collateral, has announced the integration of its stablecoin-backed yield-bearing asset, ONyc, into Solana's decentralised finance (DeFi) ecosystem, specifically on Kamino, the largest money market on the Solana blockchain.

This integration marks the first time such a real-world, stablecoin-backed asset is accepted for borrowing, lending, and looping strategies within Solana DeFi. ONyc offers base yields around 14%-16% that are largely uncorrelated to cryptocurrency market volatility.

Key Impacts and Features

Access to Real-World Yield Sources

ONyc’s yield derives from reinsurance premiums and stablecoin yields, providing a stable, market-condition-agnostic stream of returns that contrasts with typical crypto-native yield products.

Use as On-Chain Collateral

Users can deploy ONyc for borrowing or lending on Kamino, enhancing capital efficiency and enabling leveraged strategies like looping to amplify returns.

Transparency and Security through Chainlink

ONyc’s net asset value (NAV) is continuously tracked in real time on-chain via Chainlink’s decentralized data feeds, ensuring tamper-resistant pricing and reliable collateral valuation.

Liquidity and Composability

ONyc is fully liquid and composable on Solana’s DeFi protocols, allowing 24/7 access to enter or exit positions and seamless integration with other financial primitives on Kamino and beyond.

Incentives and Ecosystem Support

Incentive programs from USDG and Ethena boost ONyc’s utility as collateral by reducing borrowing costs and increasing rewards, further encouraging adoption.

Bridging Traditional Finance and Decentralized Finance

By tokenizing reinsurance yield and integrating it with Solana’s fast, scalable blockchain, ONyc connects a roughly $750 billion reinsurance market with DeFi, enhancing yield diversification and risk mitigation opportunities for stablecoin holders in Solana DeFi.

Expanding Yield Opportunities on Solana

With ONyc’s integration, yield opportunities on Solana are expanded by providing institutional-grade, real-world, stable-yield collateral that is liquid, efficiently priced, and composable. This enables DeFi participants to earn returns with lower correlation to crypto market swings and thereby strengthening portfolio diversification within the ecosystem.

[1] Global Dollar Network powers the world's fastest-growing stablecoin network, partnered by industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay, and more.

[2] ONyc secures over $700 million in stablecoin TVL (total value locked) and underpins liquidity and capital strategies across the Solana ecosystem.

[3] ONyc integrates premium-backed yield from RWAs with DeFi infrastructure, enabling an on-chain structure designed to support scalability and diversification beyond traditional financial instruments.

[4] Kamino offers products like automated liquidity vaults, the K-Lend lending market, and tools for advanced trading strategies.

[5] Kamino is the go-to platform for funds, market makers, and stablecoin issuers operating at scale on Solana.

Cryptocurrency holders on the Solana blockchain can now amplify their returns through new yield opportunities, as OnRe's stablecoin-backed yield-bearing asset, ONyc, has been integrated into Kamino, the largest money market on the Solana blockchain. This milestone marks the first time a real-world, stablecoin-backed asset has been accepted for borrowing, lending, and looping strategies within Solana's decentralized finance (DeFi) ecosystem, opening up avenues for decentralized finance and traditional finance to bridge together. With ONyc, DeFi participants can earn returns from an institutional-grade, real-world, stable-yield collateral that is liquid, efficiently priced, and composable, thereby strengthening portfolio diversification within the Solana DeFi ecosystem. The integration of ONyc also expands the altcoin landscape of Solana's DeFi protocols.

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