OnRe in Review: July 2026

July was another month of execution for OnRe, as growth across the reinsurance portfolio was matched by deeper adoption of ONyc across onchain markets.

Capital managed onchain reached $245.81 million, up 20.21% over the period. At the same time, OnRe continued to deploy capital into reinsurance opportunities, expand liquidity and utility across DeFi, and increase transparency into the portfolio and the sources of ONyc yield.

OnRe closed the month with:

• $245.81M in Assets Under Management

• $357.21M across OnRe DeFi Markets

• 7,452 ONyc holders

• 11.64% ONyc APY

• 94.65% ONyc utilization

• $154.63M in capital on risk

• $32.55M in net premium

• 29 bound reinsurance deals

• $11.65M in yield distributed

ONyc ended July at $1.1294, up 0.94%, while the number of holders grew 11.36%. Underlying that growth, $139.32 million was allocated to bound reinsurance opportunities by month-end, with additional capital positioned across offered opportunities, collateral reserves, and the onchain liquidity buffer.

Deeper Onchain Utility

July saw ONyc continue to establish itself as a productive collateral and yield-bearing asset across Solana.

OnRe DeFi Markets grew to $357.21 million, while ONyc utilization reached 94.65%. Across the ecosystem, additional liquidity and capacity became available for ONyc-backed lending and looping strategies, while new structured products expanded the ways users can access reinsurance-backed yield. This included continued development of ONyc's senior tranche, introducing additional opportunities for fixed-rate yield, yield trading, and leveraged exposure with first-loss protection from junior capital. As ONyc grows, the infrastructure around it continues to deepen. ONyc is increasingly being used as productive collateral across lending, structured yield, and other onchain strategies, extending the utility of reinsurance-backed yield across DeFi.

Scaling Reinsurance Onchain

Growth across DeFi continued alongside growth in the underlying reinsurance portfolio.

By the end of July, OnRe had 29 bound deals, with $154.63 million in capital on risk and $32.55 million in net premium. The portfolio remained balanced between deployed capital, capital allocated to offered opportunities, reserves available for new underwriting, and liquidity maintained onchain. ONyc's onchain utility is supported by an underlying portfolio of insurance and reinsurance risk, with yield generated through reinsurance premiums alongside income earned on collateral reserves. As capital managed by OnRe grows, this connects an historically private asset class with an increasingly liquid and composable onchain capital market.

Greater Transparency Into the Portfolio

July also marked a significant expansion of OnRe's Transparency Dashboard, providing a more complete view into the reinsurance activity underlying ONyc.

The updated dashboard allows users to move from portfolio-level composition into the individual exposures generating reinsurance returns, alongside visibility into capital deployment, reserves, liquidity, yield composition, independent risk analysis, asset attestations, and smart contract audits. This creates a direct connection between the yield users see onchain and the underlying economic activity generating it, with greater visibility into the capital, risk, and collateral behind ONyc. July continued that progression for OnRe. With $245.81 million in capital managed onchain, an expanding reinsurance portfolio, and more than $357 million across OnRe DeFi Markets, reinsurance continues to become more deeply integrated into internet capital markets.

The opportunity ahead remains significantly larger.