ONRe11.54%
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$288.7M
$5.8M
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Strategy overview
Hold ONyc, a yield-bearing stablecoin issued by ONRe. Its value or balance grows as the issuer's underlying assets generate returns.
- How it works:
- We swap your USDC into the issuer's yield-bearing dollar (e.g. sUSDe, USDY). The token's value or balance grows over time as the issuer's underlying strategy — staking, T-bills, or a delta-neutral hedge — earns yield. You exit by swapping back.
- What you hold:
- ONyc in your wallet; its balance or redemption value grows as yield accrues.
- Who runs it:
- ONRe — live since 2024 · audited by 2 firms · no known incidents
Position details
- APY Now
- 11.54%
- Issued (TVL)
- $288.7M
- DEX Liquidity
- $5.8M
- Max @ 0.3% Slip
- $984,390.00
- Token
- ONyc
- Mint
- 5Y8NV33Vv7WbnLfq3zBcKSdYPrk7g2KoiQoe7M2tcxp5
- Current Price
- $1.1412
- Slippage @ $100k
- +0.00%
- Drift from $1
- +14.12%
Moderate risk · Grade C
38/100
- ONyc's backing carries more risk than plain cash reserves — a non-standard reserve model.
- Mid-size issuer — less cushion than the largest stablecoins (~$288.7M market cap).
- We couldn't verify who holds the keys that can change the protocol's code.
Strategy
- Strategy type15
More complex strategy type.
- Leverage0
No leverage.
- Yield source70
Yield comes from reinsurance premiums.
- Pool usage0
Not a utilization-driven product.
- Pool size0
Token hold — no pool.
- Lock-up & yield stability0
30d APR volatility 0.0pp.
What can go wrong
- Depeg risk: the token can trade below $1 if the issuer's backing or strategy comes under stress.
- Exit depends on DEX liquidity — thin liquidity means more slippage when swapping back to USDC.
- Yield and peg both depend on the issuer; many of these are off-chain RWA or synthetic-dollar issuers (see the protocol notes below).
The assets
What your deposit is held in, and how steady its value is.
- Backing model55
ONyc: other-backed.
- Peg history · no data30
No peg history accrued yet (ONyc).
- Issuer size45
ONyc: ~$288.7M market cap.
- Exit liquidity23
ONyc: ~$5.8M DEX depth.
- Token age56
ONyc: live since 2025.
- Freeze authority35
ONyc: issuer can freeze token accounts.
About ONyc
Each asset in this position — what it is, how reliable it is, and any past depegs.
ONycONycYield-bearing stable
Low RiskBy OnRe. Yield-bearing token backed by a Bermuda-regulated reinsurance account; yield comes from underwriting premiums plus reserve collateral. · Live since 2025
- ·Yield-bearing — price is designed to drift upward, so it has no fixed $1 peg.
- ·Price volatility: 0.06% (30d).
Volatility (7d): 0.0340%DEX liquidity: $5.8M
Audited: Yes — Apex Group (NAV attestations); Harris & Trotter (financial audit)
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Token notes & warnings
- Freezable — The authority's owner has the ability to freeze your token account, preventing you from further trading
- Mintable — The authority's owner has the ability to mint more tokens
The team and protocol behind this, and their track record.
Issues ONyc, a yield-bearing dollar backed by real-world assets that accrues yield into the token's value.
- Admin controls · no data55
Upgrade-authority setup unknown.
- Exploit history0
No known exploits.
- Track record40
Live for ~27 months.
- Price feeds · no data55
Oracle setup unknown.
- Scale5
$288.0M TVL — limited adoption so far.
- Safety reserves · no data40
No disclosed treasury/insurance backstop.
- Bug bounty15
Live bug bounty up to $100k.
- Audits0
Audited (Quantstamp, Ackee Blockchain).
How we rate risk
Stablecoin strategies get a 0–100 risk score (lower is safer) built from three areas — Protocol (audits, incident history, track record and admin controls), Strategy (leverage, lock-ups, pool size and yield source) and Asset (the token's peg record, backing, and exit liquidity) — weighted by strategy type — and the weakest area can push the overall number higher (riskier) on its own. The score maps to a grade: A ≤ 22, B ≤ 35, C ≤ 50, D ≤ 70, E above. Grades compare opportunities within our stablecoin catalog — an A is the strongest thing we list (blue-chip stablecoin lending), not a promise of safety. Live events (an active depeg, a reported exploit, a sharp deposit outflow) override the score immediately. Where we lack data, the factor says so and scores cautiously. Non-stablecoin opportunities are not rated. A comparison aid, not advice.
Risk levels are Akashi's own assessment to help you compare opportunities — not financial advice or a safety guarantee. Every DeFi position carries smart-contract and market risk.
Non-custodial · Akashi never holds your funds