OnRe Surpasses $300M AUM as ONyc Compounding Interest Rewards Season 1 Opens September 27

OnRe ONyc$1.160.0% announced a $300 million AUM all-time high on September 16, the latest milestone for Solana's on-chain reinsurance protocol. On the same day, the protocol's rewards arm announced ONyc (ONyc) Compounding Interest Rewards Season 1, opening September 27, 2026 for positions maintained 60 days or longer.

The AUM figure tracks capital deposited into OnRe's regulated reinsurance pool, which backs the yield-bearing ONyc token. ONyc's market cap on Solana stood at $302 million as of September 17, per Solana Compass, held by 8,804 unique wallets, consistent with the reported AUM as the token price appreciates in line with pool performance rather than via rebasing.

What $300M in Reinsurance AUM Represents

OnRe operates as a licensed, collateralized reinsurer regulated by the Bermuda Monetary Authority (BMA) as a Segregated Accounts Company (SAC), holding IIGB and DABA licenses. The protocol legally ring-fences deposited capital, which is used exclusively to underwrite short-duration insurance and reinsurance contracts.

The $300M is underwriting capacity. Yield comes from two sources: premiums earned on reinsurance contracts, and returns on stablecoin collateral held in yield-bearing instruments. OnRe targets a blended base yield of 9–15% APY, with returns tied to actuarial and weather risk models rather than cryptocurrency price movements. Apex Group publishes monthly attestation reports confirming that reported NAV, treasury balances, and portfolio positions match ONyc's underlying reinsurance exposure.

OnRe AUM Growth: $150M to $300M in 2026

Solana Compass data shows ONyc's on-chain price climbed from $1.108 on June 1 to $1.146 by September 16, a 3.4% gain in 107 days that reflects daily NAV accrual from reinsurance premiums and stablecoin collateral returns.

After Forward Industries and RockawayX co-led a $5M Series A, Compass covered the $150M AUM milestone in June 2026. By late July 2026, the Kamino ONyc market passed $200M as Exponent Finance added srONyc yield trading.

OnRe's backers include Solana Ventures, Ethena, RockawayX, Coinbase Ventures, and Maven11, alongside institutional reinsurance brokers Guy Carpenter and Howden.

ONyc Across Kamino, Exponent, and Loopscale

ONyc is deployed across several Solana DeFi protocols. Kamino Finance runs the primary lending market. On Exponent Finance, yield trading for srONyc lets users split ONyc's yield into protected senior and amplified junior positions. Loopscale, Orca, and Carrot also integrate ONyc, supporting leveraged strategies, liquidity pools, and boost vaults respectively. NAV inputs and token supply are published transparently on-chain via Chainlink data feeds.

The protocol's points program assigns multipliers based on deployment type: base holding (1x), liquidity provision (2x), lending and borrowing (3x), and yield trading (4x).

ONyc Compounding Interest Rewards Season 1: Starting September 27

The Compounding Interest Rewards Season 1 is scheduled to begin September 27, 2026. Positions maintained for 60 days or more qualify for interest crates under the program. OnRe structured the 60-day threshold to reward capital that stays committed through an underwriting cycle rather than cycling for short-term incentives.

Full mechanics and reward rates for Season 1 are expected in the lead-up to the start date.