Hamilton, Bermuda, August 5th, 2025/Chainwire/–OnRe’s yield-bearing asset, ONyc, is now accepted as collateral within Solana’s decentralized finance (DeFi) ecosystem. This development enables the integration of real-world yield sources into DeFi applications.
Incentive programs from USDG and Ethena have launched to reduce borrowing costs, enhance yield opportunities, and support the use of real-world collateral onchain.
Onchain Yield Coin (ONyc), a yield-bearing, stablecoin-backed asset issued by
This integration marks the first time reinsurance-backed yield is being used as onchain collateral in Solana DeFi, opening access to real-world risk through a composable, liquid, and resilient asset.
A New Form of Yield in DeFi
- Leverage ONyc as collateral for borrowing, lending, or looping strategies
- Earn ~14%+ base yield uncorrelated to crypto volatility
- Enter or exit positions 24/7 with onchain liquidity
- Track NAV in real time through verifiable pricing data
Together, these capabilities make ONyc a powerful tool for capital deployment across market conditions. By enabling lending, borrowing, and looping in a fully composable way, ONyc brings real-world yield into active use across Solana’s DeFi ecosystem.
The integration is powered by Chainlink’s Onchain NAV solution, which sources ONyc’s net asset value from OnRe and delivers it in real time via
“ONyc’s launch on Kamino marks a broader shift in DeFi, bringing real-world yield to Solana with the transparency, liquidity, and composability the ecosystem was built for,” said Dan Roberts, Co-Founder and CEO of OnRe.
“It introduces a new class of collateral designed to perform through market cycles and support sustained DeFi activity. Solana has become a hub for capital innovation, and Kamino continues to set the standard for how real-world assets should operate onchain.”
Incentives Designed for Early Participation
To encourage early adoption, OnRe is launching incentive programs in collaboration with Kamino, Global Dollar Network, and Ethena:
Borrowing Incentives
A
“This marks one of the first fully permissionless implementations of real-world yield distributed directly onchain through DeFi,” said Nick Robnett at Paxos, on behalf of Global Dollar Network.
“We are proud to support ONyc’s launch on Solana and Kamino, leveraging USDG to advance OnRe’s vision of bringing real-world assets with intrinsic value onchain and making them accessible to a global user base.”
Looping Strategies
Participants can also redeploy borrowed USDG to acquire additional ONyc or other assets, increasing exposure and unlocking higher returns. Incentives apply on up to $20M in total borrowing volume.
Ethena Points Multiplier
In addition, OnRe is offering a
Integration of Real-World Yield Mechanisms in DeFi
ONyc integrates premium-backed yield from real-world assets with decentralized finance (DeFi) infrastructure, enabling an onchain structure designed to support scalability and diversification beyond traditional financial instruments.
“One of the most exciting things for Kamino’s users is onboarding high quality collateral assets, and ONyc is a great example of that. Access to credit and leverage for ONyc holders, powered by Kamino, is a great example of bringing DeFi utility to tokenize real-world investments,” said Mark Hull, a Kamino contributor.
With base yields above 14% and expanding utility across Solana, ONyc gives users a high-performing alternative to traditional DeFi strategies. Mint directly on the
About Kamino
Kamino is the go-to platform for funds, market makers, and stablecoin issuers operating at scale on Solana.
About Global Dollar Network
Powered by Global Dollar (USDG), a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions.
Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay, and more. Note: USDG is available on Solana, Ink, and Ethereum.
About Chainlink
Chainlink is the backbone of the blockchain industry, the global standard for connecting blockchains to real-world data, other blockchains, governments, and enterprise systems.
Chainlink has enabled tens of trillions in transaction value across the blockchain economy, powering critical use cases across DeFi, banking, tokenized real-world assets (RWAs), cross-chain, and more. Users can learn more by visiting
About OnRe
With a focus on transparency, scalability, and capital efficiency, OnRe is transforming how capital is deployed, bringing opportunity to a system that has historically been out of reach.
Disclaimer: This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities or digital assets. ONyc may be accessible via decentralised protocols such as Kamino, but OnRe does not operate or control any secondary market for the token. Secondary trading occurs independently of OnRe. Capital is at risk. Redemption with OnRe is only available to qualified investors. Access may be restricted in certain jurisdictions.
Contact
Head of Operations
Sarah George
OnRe
[email protected]
This story was published as a press release by Chainwire under HackerNoon’s Business Blogging
