Onchain Yield Coin (ONyc), a yield-bearing, stablecoin-backed asset issued by OnRe, is now live on Kamino, Solanaʼs largest DeFi money market. The integration gives stablecoin holders access to yield strategies backed by real-world risk, offering uncorrelated returns, instant liquidity, and native composability across Solana DeFi.
Accessing Capital-Efficient Yield
Kamino secures over $700M in stablecoin TVL and underpins liquidity and capital strategies across the Solana ecosystem. With ONyc now live on Kamino, users can:
● Earn 16% base yield uncorrelated to crypto volatility
● Leverage ONyc as collateral for borrowing, lending, or looping
● Access 24/7 liquidity to enter or exit positions at any time
● Track NAV in real time with onchain, verifiable pricing data
Together, these capabilities make ONyc a powerful entry point for stablecoin holders seeking real-world yield with transparency and onchain flexibility.
The integration of ONyc into Kamino is powered by Chainlinkʼs Onchain NAV solution, which sources ONycʼs net asset value from OnRe and delivers it in real time via Chainlink Data Streams. This provides tamper-resistant pricing and enables secure collateralization across Solana DeFi, supporting reinsurance-backed yield strategies with verifiable, onchain fund valuations.
“ONyc delivers real-world yield to Solana with the transparency, liquidity, and composability DeFi was built for,ˮ said Dan Roberts, Co-Founder and CEO of OnRe. “Solana has become a hub for capital innovation, and Kamino continues to set the bar for how real-world assets should operate onchain.ˮ
Incentives Designed for Early Participation
Together with Kamino, Global Dollar Network, and Ethena, OnRe is launching incentives for early participation:
Borrowing Incentives
A $200K incentive pool is available to lower borrowing costs for early participants.Users who deposit ONyc as collateral to borrow USDG on Kamino earn borrowing rebates, reducing costs and creating more room for positive yield spreads.
“This marks one of the first fully permissionless implementations of real-world yield distributed directly onchain through DeFi,ˮ said Nick Robnett at Paxos, on behalf of Global Dollar Network. “We are proud to support ONycʼs launch on Solana and Kamino, leveraging USDG to advance OnReʼs vision of bringing real-world assets with intrinsic value onchain and making them accessible to a global user base.ˮ
Leverage and Looping
Participants can redeploy borrowed USDG to acquire additional ONyc or other assets, increasing exposure and unlocking higher returns through looping strategies. Incentives to offset borrowing interest are available on up to $20M of total borrowing volume.
Ethena Points Bonus
Holding ONyc unlocks a 5x Ethena Points multiplier on qualifying sUSDe deposits, rewarding liquidity providers backing real-world, yield-bearing collateral.
Expanding Real-World Yield Access on Solana
By combining premium-backed returns from real-world assets with DeFi-native flexibility, ONyc delivers a return profile thatʼs scalable, uncorrelated, and unavailable in traditional finance.
“One of the most exciting things for Kaminoʼs users is onboarding high quality collateral assets, and ONyc is a great example of that. Access to credit and leverage for ONyc holders, powered by Kamino, is a great example of bringing DeFi utility to tokenize real-world investments,ˮ said Mark Hull, a Kamino contributor.
With current yields at 16% and available incentives, ONyc offers a high-performing alternative to traditional DeFi strategies for stablecoin holders. Mint ONyc directly on the OnRe app or swap instantly through Kamino Swap.
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About OnRe
OnRe bridges the reliability of the $750B global reinsurance market with the transformative power of blockchain. Licensed to deploy digital assets as insurance collateral, OnRe provides a new class of investors with direct access to consistent real-world yield through structured products designed to perform across market cycles. With a focus on transparency, scalability, and capital efficiency, OnRe is transforming how capital is deployed, bringing opportunity to a system that has historically been out of reach.
About Kamino
Kamino Finance is the largest money market on Solana, with over $4B in assets deployed across its suite of credit, leverage, and liquidity products. Through products like automated liquidity vaults, the KLend lending market, and tools for advanced trading strategies, Kamino helps users and institutions deploy capital efficiently. Kamino is the go-to platform for funds, market makers, and stablecoin issuers operating at scale on Solana.
About Global Dollar Network
Global Dollar Network is the world’s fastest growing stablecoin network with unmatched economic upside. Powered by Global Dollar USDG, a US dollar-backed stablecoin issued by Paxos Digital Singapore and Paxos Issuance Europe, Global Dollar Network offers a transparent and equitable economic model that rewards partners for their contributions. Global Dollar Network partners include industry leaders such as Anchorage Digital, Bullish, Kraken, OKX, Paxos, Robinhood, Worldpay and more. Note: USDG is available on Solana, Ink, and Ethereum.
About Chainlink
Chainlink is the backbone of the blockchain industry, the global standard for connecting blockchains to real-world data, other blockchains, governments, and enterprise systems. Chainlink has enabled tens of trillions in transaction value across the blockchain economy, powering critical use cases across DeFi, banking, tokenized real-world assets RWAs, cross-chain, and more. Learn more by visiting chain.link.
Important: This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities or digital assets. ONyc may be accessible via decentralised protocols such as Kamino, but OnRe does not operate or control any secondary market for the token. Secondary trading occurs independently of OnRe. Capital is at risk. Redemption with OnRe is only available to qualified investors. Access may be restricted in certain jurisdictions.
This press release was originally published on this site
