 
 
Disclaimer: The below article is sponsored, and the views in it do not represent those of ZyCrypto. Readers should conduct independent research before taking any actions related to the project mentioned in this piece. This article should not be regarded as investment advice.
OnRe’s Onchain Yield Coin (ONyc) has gone live on Kamino, Solana’s largest DeFi money market. ONyc is also now accepted as collateral within Solana’s DeFi ecosystem, thus enabling the integration of real-world yield sources into DeFi applications.
This marks the first time reinsurance-backed yield is being used as on-chain collateral in Solana DeFi, opening access to real-world risk through a composable, liquid, and resilient asset.
With ONyc now live on Kamino, users can leverage ONyc as collateral for borrowing, lending, or looping strategies. They can also earn a base yield of ~14% or more, uncorrelated to crypto volatility, and enter or exit positions 24/7 with on-chain liquidity, while tracking NAV in real time through verifiable pricing data.
Commenting, Dan Roberts, Co-Founder and CEO of OnRe said:
 
“ONyc’s launch on Kamino marks a broader shift in DeFi, bringing real-world yield to Solana with the transparency, liquidity, and composability the ecosystem was built for. It introduces a new class of collateral designed to perform through market cycles and support sustained DeFi activity. Solana has become a hub for capital innovation, and Kamino continues to set the standard for how real-world assets should operate onchain.”
Powered by Chainlink, the integration enables lending, borrowing, and looping in a fully composable way, bringing real-world yield into active use across Solana’s DeFi ecosystem. The capabilities also make ONyc a powerful tool for capital deployment across market conditions.
By sourcing ONyc’s net asset value from OnRe and delivering it in real time via Chainlink Data Streams, Chainlink’s Onchain NAV solution ensures tamper-resistant pricing and enables secure collateralization, supporting reinsurance-backed strategies with verifiable, on-chain fund valuations.
Early participants in this project enjoy some incentives to encourage early participation in collaboration with Kamino, Global Dollar Network, and Ethena.
The incentives include lower borrowing costs supported by a $200,000 rewards pool to reduce costs and create room for more favorable yield spreads.
Also, through loopring strategies, participants can redeploy borrowed USDG to acquire additional ONyc or other assets. This will increase exposure and unlock higher returns, with incentives applying on up to $20M in total borrowing volume.
OnRe is also offering a 5x Ethena Points multiplier to ONyc holders on qualifying sUSDe deposits, which unlocks additional rewards for those providing real-world yield collateral.
Finally, ONyc integrates premium-backed yield from real-world assets with DeFi infrastructure, enabling an on-chain structure designed to support scalability and diversification beyond traditional instruments.
This is a potent alternative for users, replacing the traditional DeFi strategies and expanding utility across Solana with base yields above 14%. Users can easily mint ONyc directly on the OnRe app or swap instantly using Kamino Swap in the OnRe Market.
Source: https://zycrypto.com/onyc-unlocks-real-world-yield-and-collateral-utility-in-solana-defi-as-it-goes-live-on-kamino/