what's Re Protocol?
Re Protocol is a decentralized platform that tokenizes real-world reinsurance risks, enabling users to participate in onchain insurance markets. It operates by allowing deposits of stablecoins like USDC, DAI, USDe, and sUSDe into Insurance Capital Layers (ICL), which allocate capital to fully collateralized quota-share reinsurance contracts via licensed insurers. This structure generates yield from insurance premiums and delta-neutral strategies, bridging traditional reinsurance with blockchain infrastructure. The protocol issues yield-bearing tokens such as reUSD and reUSDe, which represent shares in these capital layers. reUSD focuses on basis-plus strategies for stable returns, while reUSDe emphasizes insurance alpha through exposure to reinsurance risk pools. Users can stake, earn yields from premiums and unallocated assets swapped into yield-generating instruments, and redeem tokens quarterly based on net asset value (NAV) calculations that incorporate risk pool returns and collateral values. Built on chains like Ethereum and Avalanche, Re Protocol promotes transparency with onchain balances and aims to democratize access to reinsurance for Web3 participants, disrupting the $1 trillion industry by making it programmable and liquid.
Re Protocol represents 5% of Pendle's total value locked across assets.
contract
ethereum
Represents 5% of Pendle's total value locked across assets.
PT-reUSDe (25 Jun) is now live on Silo Finance V3.
Offers up to 21.34% APY on reUSD liquidity pools on Fluid protocol with 5x Re points rewards.
Reached 1,500+ reUSD holders.
Crossed $500M in TVL over the past 6 months for reUSD and reUSDe combined.
Participates in a Silo Finance AMA series exploring markets live on Silo v3, scheduled for March 25, 2026 at 11:00 AM ET, with a representative speaker from Re Protocol discussing market thesis and use cases.
68% of reUSD volume routes through Fluid infrastructure.
Increased TVL by 40% following reUSD launch on Fluid in March 2026.
Deployed reUSD on Plasma, Arbitrum, and Solana networks following March 2026 Fluid launch.
Integrated with 0xfluid, Morpho, Pendle, and Silo Finance for lending, borrowing, and yield options, including 0xfluid's leveraged yield at 25-33% APY.
Has $6 million in liquidity created for reUSD-USDT LP, where the LP tokens are used as collateral to borrow USDT and expand the liquidity position while earning 15% APY.
Achieved $2.4 million in Total Value Frozen (TVF) as the most utilized strategy on Infinit Labs, yielding 12.3% APY as of March 15, 2026.
Integrated with Skate Chain to enable one-click access to fixed yield opportunities via PT token purchases on Pendle for Solana users.
Launched reUSD on Fluid lending protocol as collateral for USDT/USDC borrowing on 2026-03-14, adding liquidity pools including reUSD-USDC, reUSD-USDT, reUSD-USDT-USDT, reUSD-USDC-USDT (100% capacity), and reUSD-GHO (62% capacity) on 2026-03-18.
Subsidizes reUSD yield with an additional 2.5% APR paid by the team.
Reached $202.2M onchain capital, structured into $136M senior (reUSD), $13M mezzanine (reUSDe), and $73M junior tranches (junior absorbing first loss). REUSDE vault on Ethereum reached $17.22M TVL with 12.00% current APY and 11.61% 30-day average APY.
Featured in a 2026 crypto narrative tier list under "Neo Finance" S-tier alongside Aave and Codex. reUSD yield-bearing stablecoin used in DeFi integrations with Pendle and Curve Finance.
Raised $14M in funding from Galaxy Digital with TGE scheduled for 2026.
Integrated with Infinit Labs, Morpho, and Pendle for automated reUSD strategies yielding 16.8% APY. Launched an Ecosystem Vault on Morpho.
Integrated Pendle pools for reUSD on ETH network with June 25, 2026 maturity, offering 9.9% APY plus 30x Re points, and reUSDe liquidity pool offering 15.88% APY. PT-reUSDe, with 25-JUN maturity, offers 13.03% fixed APY and is loopable on TermMax. PT-reUSD offers 8.02% fixed APY, with yield tracking the higher of T-bill rate or basis yield plus a 250bps spread and capital deployed off-chain.
Launches Pendle v2 pool for reUSD with 25-JUN maturity this week, yielding 15.93% PT-reUSD with Morpho looping.
Re Points become programmable onchain markets through Spectra Finance integration.
Totals $337M in written premium in force, $178M in supported premium, and $43M in reUSD supply.
reUSD reaches $43m in less than 6 months, while the Re protocol reaches $178m in supported insurance premium.
reUSD USDC pool receives 500 AVAX incentives for 21-day farming program on Avalanche, alongside savUSD USDC (1,700 AVAX) and savBTC BTC.b (350 AVAX) pools.
Deployed on Ethereum, Avalanche, Arbitrum, Base, and Ink; integrates Chainlink Proof of Reserve on Ethereum, Avalanche, Arbitrum, and Base for onchain collateral verification of reinsurance contracts.
New staking opportunity now available for sreUSD/crvUSD lending vault tokens on Convex for additional yield.
Increased TVL 65% in 7 days after March 13, 2026 launch, reaching $180M reUSD. Partnered with MorphoLabs, offering reUSD/USDC trading pair with 5.74% APY, 5x points for reUSD deposits and USDC borrowing, and increased Morpho Re Ecosystem USDC vault allocation.
Two new institutional-grade yield products launch on Avalanche with DeFi integrations across Curve, Pharaoh, Blackhole, and Pendle.
Launched reUSD and reUSDe stablecoins on Base with 7% and 12% yields respectively, backed by insurance premiums and secured via 114 Trust accounts.
Launches points campaign without a token launch in August 2025, offering 5x multiplier for staking stables and minting reUSD, requires KYC.
$9.8m exploit triggers $87m TVL reduction across ecosystem, with Resupply TVL dropping from $135m to $77m.
Launched Pendle-boosted reUSD and reUSDe pools on Equilibria, offering 93.24% APY plus 6.26% base APY.
Launched Pendle Boosted pools for reUSD and reUSDe on Equilibria, backed by real-world insurance flows, and reUSD vaults on Ethereum with Smart Liquidity architecture.
Upcoming Yield Basis launch requires crvUSD for all yield strategies, offering 20% APR for BTC/ETH liquidity providers with minimized impermanent loss.
Record $128k weekly redemption fees coincide with $6m market cap decline, indicating unsustainable redemption mechanics.
Governance token staking launches with 70% APY paid in USD stablecoins with no emissions
New Portals.fi integration enables direct token zapping into boosted yield strategies, allowing single-transaction deposits of any token including ETH.
New boosted yield farming strategy launches on Stake DAO with InverseFinance, offering 50K CRV weekly rewards.
Grew reUSD market cap to $110M in Q4 2025, a 10x increase from previous quarter, with TVL also increasing 10x between October 2025 and April 2026.
Surpassed $10M TVL, an all-time high, with a 110% increase over two months, as platform's largest strategy, offering highest CRV rewards yield and over 10% real APY.
Stake DAO adds $250K liquidity to reUSD gauges through treasury optimization.
Enables 24-25% APR on reUSD via 7.5x WBTC-crvUSD-reUSD delta-neutral looping strategy with insurance pool staking.
Over $20M borrowed in first 13 hours, with nearly half of supply in Insurance Pool earning 110% APR.