Past $580M, A Month of Firsts
July marked another month of firsts for Re. Re closed its first whole-account treaty and opened its first reUSDe redemption window [1], while TVL in the protocol grew to $581.13 million.
$581.13M - Total Value Locked
$510.5M - Underwriting Portfolio
+$13.53M - Capital Position Growth
$1.5M - reUSDe Redemption Liquidity
Capital Position
Capital position & liquidity.
Re's capital position grew by $13.53 million, an increase of approximately 2.4% over June. As of the reporting period, that capital was distributed as follows:
Onchain Capital: $82.76M (14% of total assets)
Offchain Reserves: $179.44M (31% of total)
Contracted Premium Receivable: $318.93M (55% of total)
Reporting note. Reflects contracted premium receivable on policies bound as of July 31, 2026. Actual receipts may vary based on policy performance, cessions, and other factors.
The $82.76M held onchain (14% of total assets) supports Re-backed underwriting structures. The $179.44M (31% of total) is maintained offchain as reserves within regulated insurance entities. The $318.93M (55% of total) is composed of premiums contractually owed but not yet received.
Underwriting Portfolio
Portfolio composition.
Re's underwriting portfolio held steady at $510.5 million in July.
As reflected in the Insurance Strategy Breakdown [2], Re's portfolio emphasizes diversification, conservative attachment points, and short-duration exposures. This strategy is intended to limit risk and support consistent underwriting margins (subject to market and loss conditions).
Small Business Commercial (commercial property & liability): $202.2M — 40%
Commercial Auto (commercial vehicle coverage and liability): $150.6M — 29%
Homeowners Insurance (property coverage for residential homes): $90.4M — 18%
Workers Compensation (employee injury coverage): $61.7M — 12%
Personal Auto (personal vehicle coverage and liability): $5.5M — 1%
Liquidity Mechanism
reUSDe redemption window.
On July 9, 2026, Re opened its first reUSDe redemption window [1], marking the launch of a formal, recurring liquidity mechanism for reUSDe holders. Key details:
Redemption requests were accepted from July 9 to 22, 2026.
Claims opened on July 23, 2026, and will remain available through August 22, 2026.
$1.5 million was made available for this period.
The redemption contract has been independently audited by Hacken.
reUSDe is a yield-bearing stablecoin backed by Re's reinsurance collateral; it is not a bank deposit, is not FDIC insured, and is not government backed.
Token Activity
$RE token activity.
July was a quiet, predictable month for $RE - one scheduled unlock and no changes to the emission schedule. On July 18, 7.09 million $RE was released from the ecosystem allocation. Unlock data can be viewed at any time via DefiLlama [3].
7.09M RE released from the ecosystem allocation (July 18)
~14% of average daily trading volume
The fixed monthly cadence keeps near-term dilution linear and easy to model.
Ecosystem
New markets & integrations.
reUSD added two third-party integrations in July, expanding the venues in which holders can deploy it:
On July 14, Term Finance opened two fixed-rate USDC lending markets running into Q4 that accept PT-reUSD-Dec as collateral.
On July 23, a sUSG/reUSD pool went live on Curve via Tangent, with liquidity providers able to earn Re points alongside Tangent's own incentives.
These integrations reflect reUSD's growing utility across the DeFi landscape.
Security
Smart contract audit.
In July, Sherlock completed an independent security audit of Re's NAV oracle stack, which publishes the daily onchain mint and redeem price for reUSD and reUSDe. The audit found no high-severity issues and no vulnerabilities exploitable by an outside attacker. All issues it surfaced were addressed before the report was published.
The audit report may be viewed here [4].
Looking Ahead
What's next.
Looking ahead, Re remains focused on the fundamentals that have carried the protocol to this point: growing the capital base, deepening reUSD and reUSDe integrations across DeFi, and maintaining the underwriting discipline and security standards that holders have come to expect.
- Re Management Team
Explore the protocol.
Re Protocol. Internet-native reinsurance capital: diversified, transparent, and open to global participants at re.xyz (https://re.xyz).
Sources
https://re.xyz/insights/reusde-redemptions
https://app.re.xyz/capital-strategy
https://defillama.com/unlocks/re
https://sherlock-files.ams3.digitaloceanspaces.com/reports/2026.07.25%20-%20Final%20-%20Re.xyz%20Collaborative%20Audit%20Report%201784984640.pdf
Disclosures
This blog post is for informational and educational purposes only and does not constitute investment, legal, tax, or financial advice. Nothing in this article should be construed as an offer or solicitation to buy or sell any security, token, or financial product.
Affiliate disclosure. The "re" brand, the re protocol, and re.xyz are operated by Resilience Foundation Cayman LLC ("Resilience Foundation"), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with Limited Liability with registered number IC-414560, together with its affiliate Resilience (BVI) Ltd and Resilience Inv SPC. Resilience Foundation, Resilience BVI, and Resilience Inv do not provide insurance or reinsurance services, do not act as insurance broker or agent, and do not hold an insurance license. All regulated reinsurance activities are conducted exclusively by Cover Reinsurance SPC Ltd. ("Cover Re SPC"), a Class B(iii) licensed exempted segregated portfolio company in the Cayman Islands, operating under the "Cover Re" brand at coverre.com (https://coverre.com).
Risk disclosure. Digital assets and blockchain-based products involve significant risk, including the potential loss of principal, smart contract vulnerabilities, liquidity constraints, and regulatory uncertainty. Any references to APR, returns, or performance are not guaranteed, and past performance is not a reliable indicator of future results.
Regulatory environment. The regulatory environment for digital assets, stablecoins, tokenized real-world assets, and onchain financial products is dynamic and continues to evolve across jurisdictions. The information in this post reflects the understanding as of the date of publication and may not reflect subsequent legal or regulatory developments. Readers should consult qualified legal, tax, and financial professionals before making any decisions.
Terms apply. For full terms, disclosures, and risk disclaimers, please see the Re website at https://re.xyz, Terms of Service (https://re.xyz/terms), and Disclaimers (https://docs.re.xyz/disclaimers).