ONyc is a Solana-based, yield-bearing token connected to OnRe's Bermuda-regulated reinsurance structure. Its NAV can appreciate through reinsurance underwriting economics and collateral returns, so it is not designed as a fixed-value $1 cash stablecoin despite being USD-denominated.
| Symbol | ONYC |
| Peg | USD |
| Backing | Rwa backed |
| Status | Active |
| Launched | 2025 |
| Networks | L1 non EVM Solana |
| Specifications | Redemption Eligible holders can redeem subject to OnRe's redemption windows, holding-period requirements, and available liquidity; current documentation supports settlement through approved stablecoin assets including USDC or USDG. |
| Use cases | DeFi collateral |
| Chain | Address |
|---|---|
| Solana | 5Y8NV33Vv7WbnLfq3zBcKSdYPrk7g2KoiQoe7M2tcxp5 |
## Overview ONyc is a Solana-based, yield-bearing token connected to OnRe's Bermuda-regulated reinsurance structure. Its NAV can appreciate through reinsurance underwriting economics and collateral returns, so it is not designed as a fixed-value $1 cash stablecoin despite being USD-denominated. ## Key Features - ONyc provides tokenized exposure to a regulated reinsurance segregated account. - Returns accrue through changes in token NAV rather than rebasing. - Economic returns combine reinsurance underwriting premiums with collateral yield. ## Supported Networks Available on Solana.