# OnRe Tokenized Reinsurance (ONyc) ONyc is an onchain yield-bearing asset that represents a proportional share of a regulated segregated account used for underwriting short-duration insurance and reinsurance contracts. When capital enters this account, it is held in a legally ring-fenced structure in Bermuda and used exclusively to collateralize reinsurance exposures. The account earns contractual premium income and adjusts for any claims, and ONyc’s net asset value updates to reflect that performance. The token is designed to function as an appreciating asset driven by real-world cash flows rather than crypto-native volatility or incentive mechanics. ONyc does not rely on staking rewards, funding-rate dynamics, leverage, liquidity incentives, delta-neutral strategies, or anything dependent on market cycles. It is not a stablecoin, is not intended to behave like one, and is not corporate credit or a tokenized hedge fund. Its returns come from underwriting risk through a regulatory structure and actuarial process that has existed for decades in reinsurance markets. ONyc’s value is maintained through onchain updates of the pool’s NAV. Each token corresponds to a fractional claim on the segregated account, and as premiums are earned and the account grows or contracts, ONyc adjusts accordingly. This structure allows users to hold or transfer ONyc across Solana and use it throughout DeFi while capturing real-world yield through appreciation rather than distributions or emissions. The smart contracts that manage issuance and redemption are audited and operate transparently onchain. NAV inputs, token supply, and relevant fund movements are visible and verifiable. Minting and redemption occur through the app and follow the platform’s verification and eligibility requirements, but once minted, ONyc is fully transferable and can be used in liquidity pools, lending markets, structured products, and other DeFi applications. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.onre.finance/introduction/onre-tokenized-reinsurance-onyc.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.