What is Onchain Yield Coin?

Onchain Yield Coin (ONyc) is a multi-collateral, yield-bearing digital asset developed by OnRe. It is backed by stablecoins and serves to underwrite real-world private placements while generating returns from reinsurance premiums. The asset aims for a base yield exceeding 16%, benefiting from reinsurance performance that is designed to be uncorrelated with market cycles. The structure of ONyc allows for compound, multi-source returns through contributions from both the collateral assets and reinsurance yields.

ONyc is currently collateralized in sUSDe, emphasizing a blend of real-world yield opportunities and crypto-native yields. The goal of the project is to link digital asset investors with the reinsurance sector, which is valued at approximately $750 billion. The overarching framework prioritizes transparency, scalability, and capital efficiency.