Onyc Launches On Kamino, Unlocking Real-World Yield And Collateral Utility In Solana Defi

(MENAFN- Chainwire) Hamilton, Bermuda, August 5th, 2025, Chainwire

OnRe's yield-bearing asset, ONyc, is now accepted as collateral within Solana's decentralized finance (DeFi) ecosystem. This development enables the integration of real-world yield sources into DeFi applications. Incentive programs from USDG and Ethena have launched to reduce borrowing costs, enhance yield opportunities, and support the use of real-world collateral onchain.

Onchain Yield Coin (ONyc), a yield-bearing, stablecoin-backed asset issued by OnRe , is now live on Kamino, Solana's largest DeFi money market. This integration marks the first time reinsurance-backed yield is being used as onchain collateral in Solana DeFi, opening access to real-world risk through a composable, liquid, and resilient asset.

A New Form of Yield in DeFi

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:

• Leverage ONyc as collateral for borrowing, lending, or looping strategies
• Earn ~14%+ base yield uncorrelated to crypto volatility
• Enter or exit positions 24/7 with onchain liquidity
• Track NAV in real time through verifiable pricing data

Together, these capabilities make ONyc a powerful tool for capital deployment across market conditions. By enabling lending, borrowing, and looping in a fully composable way, ONyc brings real-world yield into active use across Solana's DeFi ecosystem.

The integration is powered by Chainlink's Onchain NAV solution, which sources ONyc's net asset value from OnRe and delivers it in real time via . This ensures tamper-resistant pricing and enables secure collateralization, supporting reinsurance-backed strategies with verifiable, onchain fund valuations.

Incentives Designed for Early Participation

To encourage early adoption, OnRe is launching incentive programs in collaboration with Kamino, Global Dollar Network, and Ethena:

Borrowing Incentives

A pool is available to lower borrowing costs for users who deposit ONyc as collateral to borrow USDG on Kamino. This reduces costs and creates room for more favorable yield spreads.

Looping Strategies

Participants can also redeploy borrowed USDG to acquire additional ONyc or other assets, increasing exposure and unlocking higher returns. Incentives apply on up to $20M in total borrowing volume.

Ethena Points Multiplier

In addition, OnRe is offering a to ONyc holders on qualifying sUSDe deposits, unlocking additional rewards for those providing real-world yield collateral.

Integration of Real-World Yield Mechanisms in DeFi

ONyc integrates premium-backed yield from real-world assets with decentralized finance (DeFi) infrastructure, enabling an onchain structure designed to support scalability and diversification beyond traditional financial instruments.

With base yields above 14% and expanding utility across Solana, ONyc gives users a high-performing alternative to traditional DeFi strategies. Mint directly on the or swap instantly using in the .

About Kamino

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 K-Lend 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

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. Users can learn more by visiting

About OnRe

Disclaimer: 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.

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