OnRe has unveiled an innovative rewards program called OnRe Points, aimed at fostering engagement within the ONyc ecosystem. This initiative marks a significant departure from traditional liquidity mining methods by incentivizing users based on the capital efficiency of their assets in decentralized finance (DeFi) protocols. The program aligns with ONyc’s goal to establish itself as a leading collateral asset on the Solana platform.
The foundation of OnRe Points is built on the premise that capital should operate with maximum efficiency. According to Dan Roberts, Co-Founder and CEO of OnRe, ONyc represents a stable and yielding asset supported by reinsurance premiums and collateral interest. Through this rewards program, the company aims to incentivize users who deploy ONyc effectively across various DeFi platforms, thereby enhancing ecosystem growth.
The structure of OnRe Points includes a multi-tiered rewards system that grants users points based on their participation in different DeFi strategies. Points are earned daily with specific multipliers tied to user activities:
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Base Holding (1x): Users earn one point per ONyc held per day, offering baseline rewards while accessing real-world yields from reinsurance returns.
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Liquidity Provision (2x): Providing liquidity with ONyc on prominent Solana decentralized exchanges (DEXs) such as Kamino, Orca, and Raydium earns users double rewards. This contributes to more robust market activities and tighter trading spreads.
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Lending and Borrowing (3x): By using ONyc as collateral in lending protocols such as Kamino and Loopscale, users can enjoy triple rewards. Advanced participants utilizing looping strategies stand to gain further multipliers, thereby enhancing their yield while maintaining exposure to ONyc.
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Yield Trading (4x): Maximum rewards can be earned by supplying liquidity and holding YT-ONyc on the Exponent platform. Yield Tokens (YT) enable participants to speculate on future yields of their assets.
Additionally, the program plans to introduce bonus campaigns that will offer extra rewards associated with social engagement, partnership launches, and community contributions, providing users with multiple avenues for earning while expanding the utility of ONyc.
Ayyan Rahman, Co-Founder and CGO of OnRe, emphasized that this initiative is focused on long-term advantages rather than temporary incentives. The framework is designed to track and reward capital deployment, thus strengthening ONyc over time. The transparent nature of OnRe Points allows users to optimize their strategies, contributing to the liquidity and utility of the ONyc ecosystem.
Currently, OnRe Points are fully operational across all designated strategies. Participants can easily oversee their ONyc holdings, accrued points, and onchain activities in real time using the OnRe application, enabling them to adapt their strategies to new opportunities as they arise.
This launch demonstrates OnRe’s commitment to developing a sustainable DeFi infrastructure, where authentic utility is pivotal for long-term value creation. The initiative ensures that early adopters of ONyc can enjoy the prospective benefits of the expanding ecosystem.
OnRe stands out as a pioneering onchain asset manager, leveraging yield-bearing assets for reinsurance underwriting, thus offering stable investment opportunities in DeFi. By bridging the $750 billion global reinsurance market with blockchain technology, OnRe presents investors with structured products that yield consistent returns across various market scenarios, targeting a market traditionally perceived as inaccessible.
