In a significant development for decentralized finance (DeFi), OnRe has launched OnRe Points, a groundbreaking rewards program aimed at enhancing participation in the ONyc ecosystem. This initiative departs from traditional liquidity mining practices, instead focusing on the efficient deployment of capital as ONyc is utilized across various DeFi protocols.
The newly introduced OnRe Points serve as an innovative mechanism to track active user engagement, aligning it directly with ecosystem growth. Dan Roberts, Co-Founder and CEO of OnRe, emphasized the core philosophy of the company: “capital should work as efficiently as possible.” He highlighted that ONyc acts as a stable, yielding asset, underpinned by reinsurance premiums and collateral interest, and with OnRe Points, users who actively employ ONyc in the DeFi space will be duly rewarded.
The reward structure is multi-tiered, offering different levels of incentives based on user contributions and engagement strategies:
-
Base Holding (1x): Users holding ONyc earn one point per ONyc daily, providing a steady stream of rewards while they benefit from real-world yields derived from reinsurance performance.
-
Liquidity Provision (2x): Providing liquidity with ONyc on major Solana decentralized exchanges (DEXs) such as Kamino, Orca, and Raydium garners double rewards. This not only enhances market depth but also contributes to tighter spreads, allowing liquidity providers to earn multipliers along with trading fees.
-
Lending and Borrowing (3x): Users supplying ONyc as collateral for lending protocols like Kamino and Loopscale can earn triple rewards. Those utilizing advanced strategies, such as recursive deposits, can further augment their multipliers while maximizing yield exposure to ONyc.
-
Yield Trading (4x): The highest rewards are allocated for providing liquidity and holding YT-ONyc on the Exponent platform, where participants can speculate on future yields of ONyc using Yield Tokens.
Additionally, OnRe has planned bonus campaigns that will offer extra rewards for social engagement, partnership launches, and active community participation, making it easier for users to earn while simultaneously increasing ONyc’s utility.
Ayyan Rahman, Co-Founder and CGO at OnRe, pointed out that this initiative is not merely about short-term incentives but is designed to foster a robust framework for capital deployment. The aim is for users to strengthen the ONyc ecosystem, as the successful deployment of ONyc across various DeFi arenas leads to greater compounding rewards.
The transparent nature of the OnRe Points program allows users to optimize their strategies, encouraging them to contribute to ONyc’s growth actively. Participants can monitor their ONyc positions, points, and on-chain activities through the OnRe app, enabling real-time adjustments to their strategies based on emerging opportunities.
This launch underscores OnRe’s commitment to establishing resilient DeFi infrastructure, where meaningful participation translates into long-term value creation. The company seeks to ensure that early adopters can fully leverage the expanding ecosystem surrounding ONyc.
OnRe, as a pioneering on-chain asset manager, continues to bridge the gap between the massive global reinsurance market and blockchain technology, offering consistent yield opportunities that previously remained inaccessible to many investors. With its flagship product ONyc acting as a multi-collateral yielding dollar asset backed by reinsurance premiums, OnRe aims to position itself as a critical player in the future of institutional-grade yield within DeFi.
