# Collateral Composition The collateral backing ONyc reflects exposure to regulated reinsurance programs. These programs generate low-volatility, uncorrelated returns tied to real insurance performance, which is the foundation of ONyc’s yield. OnRe manages this collateral with three priorities: * Capital preservation * Stable, predictable returns * Clear, transparent reporting ### Schedule of Assets Capital is allocated across active reinsurance policies, upcoming deals, and a dedicated liquidity layer. The portfolio is diversified across fiat and onchain assets, with exposures as follows: