Re Protocol
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Re Protocol
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Onchain capital for real-world risk. Stewarded by the Resilience Foundation. Website: re.xyz
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Article
Re Protocol’s Token Suite, Explained: reUSD, reUSDe, and $RERe Protocol issues a trio of distinct assets. reUSD and reUSDe are yield-bearing deposit tokens that fund real-world reinsurance collateral. $RE functions in a category of its own, serving as a governance instrument that allows holders to shape the rules of the protocol itself. Understanding the role each plays is key to understanding how Re works as a whole.
reUSD: The Senior Tranche.
reUSD sits at the top of Re’s capital stack. Depositors receive reUSD in exchange for stablecoins or Ethena assets (USDC, USDT, USDe, sUSDe). Part of each deposit is kept onchain for redemption liquidity; the rest is deployed offchain for use as collateral to back reinsurance contracts.
As the senior layer, reUSD is the last tranche to absorb losses. It’s shielded from loss by Re’s own capital (the junior layer, approximately $77M as of June 2026) and by reUSDe (the mezzanine layer). reUSD earns a blended yield based on how protocol capital is proportionally deployed: offchain capital earns the SOFR rate plus 250 bps (2.5%), while onchain capital earns the seven-day trailing average sUSDe basis trade rate plus 250 bps.
Redemption limits. Redemptions occur on a near-real-time basis when onchain liquidity is available, subject to two limits: no single wallet can redeem more than 10% of the available buffer per day, and total near-real-time redemptions are capped at 20% of the available redemption capacity per day. If the buffer falls to 1% of total reUSD supply, redemptions move to a quarterly queue.
reUSDe: The Mezzanine Tranche.
reUSDe occupies the capital layer below reUSD. It is intended to be deployed fully offchain as collateral to back reinsurance contracts.
Whereas reUSD is designed to be liquid and sits furthest from loss, reUSDe carries slightly elevated risk and is intended as a longer-duration instrument. It absorbs losses before reUSD, albeit after Re’s own capital. Because it is typically deployed in full and locked into trusts as collateral, reUSDe is available for redemption only during stipulated windows rather than on a continuous basis.
In exchange for its slightly elevated risk profile and lesser liquidity compared to reUSD, reUSDe benefits from a greater spread: SOFR plus 850 bps (8.5%), sourced from regulated insurance underwriting activity.
Quarterly redemption windows. reUSDe redemptions are planned to run quarterly. Before each window, Re’s independent actuary determines how much surplus capital can be released from active treaties and trust accounts. That amount is also governed by regulatory requirements, and collateral cannot be released without regulatory approval. The released surplus funds the redemption pool for that window, denominated in sUSDe.
How the Layers Relate.
Together, reUSD and reUSDe form a two-tier capital stack layered on top of Re’s own capital. Losses are absorbed in a strict, defined order: each layer shields the one above it until it is exhausted.
$RE: The Governance Layer.
The $RE token is the protocol’s community governance instrument. Staking RE allows holders to vote on proposals, serve as delegates, and sit on protocol committees covering areas of protocol mechanics such as:
Market admissionsRisk standardsTreasury decisionsTechnical governance
RE has a fixed total supply of one billion tokens. The supply is distributed across the ecosystem, investors and advisors, and core contributors, largely under multi-year vesting schedules. Staking rewards are incentives for participation only.
Not part of the capital stack. Unlike reUSD and reUSDe, RE carries no yield claim and no position in the loss waterfall. It confers no equity, debt, dividend, profit-sharing, or fee rights, and no claim on Re’s revenue, premiums, reserves, collateral, deposits, or treasury.
Side-by-Side Comparison.
Learn More.
For more information on the protocol, visit our official docs at docs.re.xyz
DISCLOSURESThis 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.Access and eligibility. reUSDe is available exclusively to non-U.S. persons, as defined under Regulation S of the U.S. Securities Act of 1933, in specific permitted jurisdictions. Use by U.S. persons or residents is strictly prohibited. reUSDe may be classified as a security in certain jurisdictions, and participation is subject to eligibility requirements, KYC/AML verification, and jurisdiction-specific restrictions. reUSDe is not a bank deposit, is not FDIC insured, and is not government backed.Yield. reUSDe yield is variable, is not guaranteed, and may change at any time. Any references to yield, APR, APY, returns, or performance are informational only, and past performance is not a reliable indicator of future results. The value and stability of reUSDe are subject to market volatility, smart contract vulnerabilities, regulatory uncertainty, and the performance of underlying collateral and protocol activity.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.RE governance token. RE is the governance token of the Re Protocol, issued by the Resilience Foundation. It is a governance instrument, not an investment, and confers no equity, debt, dividend, profit-sharing, or fee rights and no claim on Re's revenue, premiums, reserves, collateral, deposits, or treasury. Governance is being introduced in phases and is subject to change. Availability of RE is subject to jurisdiction-specific restrictions.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 Disclosures (https://re.xyz/disclosure).
Re Protocol’s Token Suite, Explained: reUSD, reUSDe, and $RE
Re Protocol issues a trio of distinct assets. reUSD and reUSDe are yield-bearing deposit tokens that fund real-world reinsurance collateral. $RE functions in a category of its own, serving as a governance instrument that allows holders to shape the rules of the protocol itself. Understanding the role each plays is key to understanding how Re works as a whole.
reUSD: The Senior Tranche.
reUSD sits at the top of Re’s capital stack. Depositors receive reUSD in exchange for stablecoins or Ethena assets (USDC, USDT, USDe, sUSDe). Part of each deposit is kept onchain for redemption liquidity; the rest is deployed offchain for use as collateral to back reinsurance contracts.
As the senior layer, reUSD is the last tranche to absorb losses. It’s shielded from loss by Re’s own capital (the junior layer, approximately $77M as of June 2026) and by reUSDe (the mezzanine layer). reUSD earns a blended yield based on how protocol capital is proportionally deployed: offchain capital earns the SOFR rate plus 250 bps (2.5%), while onchain capital earns the seven-day trailing average sUSDe basis trade rate plus 250 bps.
Redemption limits. Redemptions occur on a near-real-time basis when onchain liquidity is available, subject to two limits: no single wallet can redeem more than 10% of the available buffer per day, and total near-real-time redemptions are capped at 20% of the available redemption capacity per day. If the buffer falls to 1% of total reUSD supply, redemptions move to a quarterly queue.
reUSDe: The Mezzanine Tranche.
reUSDe occupies the capital layer below reUSD. It is intended to be deployed fully offchain as collateral to back reinsurance contracts.
Whereas reUSD is designed to be liquid and sits furthest from loss, reUSDe carries slightly elevated risk and is intended as a longer-duration instrument. It absorbs losses before reUSD, albeit after Re’s own capital. Because it is typically deployed in full and locked into trusts as collateral, reUSDe is available for redemption only during stipulated windows rather than on a continuous basis.
In exchange for its slightly elevated risk profile and lesser liquidity compared to reUSD, reUSDe benefits from a greater spread: SOFR plus 850 bps (8.5%), sourced from regulated insurance underwriting activity.
Quarterly redemption windows. reUSDe redemptions are planned to run quarterly. Before each window, Re’s independent actuary determines how much surplus capital can be released from active treaties and trust accounts. That amount is also governed by regulatory requirements, and collateral cannot be released without regulatory approval. The released surplus funds the redemption pool for that window, denominated in sUSDe.
How the Layers Relate.
Together, reUSD and reUSDe form a two-tier capital stack layered on top of Re’s own capital. Losses are absorbed in a strict, defined order: each layer shields the one above it until it is exhausted.
$RE : The Governance Layer.
The $RE token is the protocol’s community governance instrument. Staking RE allows holders to vote on proposals, serve as delegates, and sit on protocol committees covering areas of protocol mechanics such as:
Market admissionsRisk standardsTreasury decisionsTechnical governance
RE has a fixed total supply of one billion tokens. The supply is distributed across the ecosystem, investors and advisors, and core contributors, largely under multi-year vesting schedules. Staking rewards are incentives for participation only.
Not part of the capital stack. Unlike reUSD and reUSDe, RE carries no yield claim and no position in the loss waterfall. It confers no equity, debt, dividend, profit-sharing, or fee rights, and no claim on Re’s revenue, premiums, reserves, collateral, deposits, or treasury.
Side-by-Side Comparison.
Learn More.
For more information on the protocol, visit our official docs at docs.re.xyz
DISCLOSURESThis 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.Access and eligibility. reUSDe is available exclusively to non-U.S. persons, as defined under Regulation S of the U.S. Securities Act of 1933, in specific permitted jurisdictions. Use by U.S. persons or residents is strictly prohibited. reUSDe may be classified as a security in certain jurisdictions, and participation is subject to eligibility requirements, KYC/AML verification, and jurisdiction-specific restrictions. reUSDe is not a bank deposit, is not FDIC insured, and is not government backed.Yield. reUSDe yield is variable, is not guaranteed, and may change at any time. Any references to yield, APR, APY, returns, or performance are informational only, and past performance is not a reliable indicator of future results. The value and stability of reUSDe are subject to market volatility, smart contract vulnerabilities, regulatory uncertainty, and the performance of underlying collateral and protocol activity.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.RE governance token. RE is the governance token of the Re Protocol, issued by the Resilience Foundation. It is a governance instrument, not an investment, and confers no equity, debt, dividend, profit-sharing, or fee rights and no claim on Re's revenue, premiums, reserves, collateral, deposits, or treasury. Governance is being introduced in phases and is subject to change. Availability of RE is subject to jurisdiction-specific restrictions.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 Disclosures (https://re.xyz/disclosure).
reUSD: The Senior Tranche.
reUSD sits at the top of Re’s capital stack. Depositors receive reUSD in exchange for stablecoins or Ethena assets (USDC, USDT, USDe, sUSDe). Part of each deposit is kept onchain for redemption liquidity; the rest is deployed offchain for use as collateral to back reinsurance contracts.
As the senior layer, reUSD is the last tranche to absorb losses. It’s shielded from loss by Re’s own capital (the junior layer, approximately $77M as of June 2026) and by reUSDe (the mezzanine layer). reUSD earns a blended yield based on how protocol capital is proportionally deployed: offchain capital earns the SOFR rate plus 250 bps (2.5%), while onchain capital earns the seven-day trailing average sUSDe basis trade rate plus 250 bps.
Redemption limits. Redemptions occur on a near-real-time basis when onchain liquidity is available, subject to two limits: no single wallet can redeem more than 10% of the available buffer per day, and total near-real-time redemptions are capped at 20% of the available redemption capacity per day. If the buffer falls to 1% of total reUSD supply, redemptions move to a quarterly queue.
reUSDe: The Mezzanine Tranche.
reUSDe occupies the capital layer below reUSD. It is intended to be deployed fully offchain as collateral to back reinsurance contracts.
Whereas reUSD is designed to be liquid and sits furthest from loss, reUSDe carries slightly elevated risk and is intended as a longer-duration instrument. It absorbs losses before reUSD, albeit after Re’s own capital. Because it is typically deployed in full and locked into trusts as collateral, reUSDe is available for redemption only during stipulated windows rather than on a continuous basis.
In exchange for its slightly elevated risk profile and lesser liquidity compared to reUSD, reUSDe benefits from a greater spread: SOFR plus 850 bps (8.5%), sourced from regulated insurance underwriting activity.
Quarterly redemption windows. reUSDe redemptions are planned to run quarterly. Before each window, Re’s independent actuary determines how much surplus capital can be released from active treaties and trust accounts. That amount is also governed by regulatory requirements, and collateral cannot be released without regulatory approval. The released surplus funds the redemption pool for that window, denominated in sUSDe.
How the Layers Relate.
Together, reUSD and reUSDe form a two-tier capital stack layered on top of Re’s own capital. Losses are absorbed in a strict, defined order: each layer shields the one above it until it is exhausted.
$RE : The Governance Layer.
The $RE token is the protocol’s community governance instrument. Staking RE allows holders to vote on proposals, serve as delegates, and sit on protocol committees covering areas of protocol mechanics such as:
Market admissionsRisk standardsTreasury decisionsTechnical governance
RE has a fixed total supply of one billion tokens. The supply is distributed across the ecosystem, investors and advisors, and core contributors, largely under multi-year vesting schedules. Staking rewards are incentives for participation only.
Not part of the capital stack. Unlike reUSD and reUSDe, RE carries no yield claim and no position in the loss waterfall. It confers no equity, debt, dividend, profit-sharing, or fee rights, and no claim on Re’s revenue, premiums, reserves, collateral, deposits, or treasury.
Side-by-Side Comparison.
Learn More.
For more information on the protocol, visit our official docs at docs.re.xyz
DISCLOSURESThis 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.Access and eligibility. reUSDe is available exclusively to non-U.S. persons, as defined under Regulation S of the U.S. Securities Act of 1933, in specific permitted jurisdictions. Use by U.S. persons or residents is strictly prohibited. reUSDe may be classified as a security in certain jurisdictions, and participation is subject to eligibility requirements, KYC/AML verification, and jurisdiction-specific restrictions. reUSDe is not a bank deposit, is not FDIC insured, and is not government backed.Yield. reUSDe yield is variable, is not guaranteed, and may change at any time. Any references to yield, APR, APY, returns, or performance are informational only, and past performance is not a reliable indicator of future results. The value and stability of reUSDe are subject to market volatility, smart contract vulnerabilities, regulatory uncertainty, and the performance of underlying collateral and protocol activity.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.RE governance token. RE is the governance token of the Re Protocol, issued by the Resilience Foundation. It is a governance instrument, not an investment, and confers no equity, debt, dividend, profit-sharing, or fee rights and no claim on Re's revenue, premiums, reserves, collateral, deposits, or treasury. Governance is being introduced in phases and is subject to change. Availability of RE is subject to jurisdiction-specific restrictions.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 Disclosures (https://re.xyz/disclosure).
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reUSD is live on Kamino.
Users can deposit reUSD as collateral into Kamino's $2.2B+ credit market on Solana & receive 5x Re Points.
Re brings onchain capital to the real economy, supporting a diversified $510.5M portfolio across policies held by 700,000+ U.S. policyholders.
Deposit reUSD and borrow USDC or USDG against it.
Link to vault:
kamino.com/borrow?search=reusd&filterWalletAssets=false&featuredFilter=false
#reinsurance #RWA #solana #Kamino #kaminofianance
reUSD is live on Kamino.
Users can deposit reUSD as collateral into Kamino's $2.2B+ credit market on Solana & receive 5x Re Points.
Re brings onchain capital to the real economy, supporting a diversified $510.5M portfolio across policies held by 700,000+ U.S. policyholders.
Deposit reUSD and borrow USDC or USDG against it.
Link to vault:
kamino.com/borrow?search=reusd&filterWalletAssets=false&featuredFilter=false
#reinsurance #RWA #solana #Kamino #kaminofianance
Users can deposit reUSD as collateral into Kamino's $2.2B+ credit market on Solana & receive 5x Re Points.
Re brings onchain capital to the real economy, supporting a diversified $510.5M portfolio across policies held by 700,000+ U.S. policyholders.
Deposit reUSD and borrow USDC or USDG against it.
Link to vault:
kamino.com/borrow?search=reusd&filterWalletAssets=false&featuredFilter=false
#reinsurance #RWA #solana #Kamino #kaminofianance
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Partly True
New incentives for PT-reUSD looping are now available on Pendle.
Open to new loops and positions until August 27th 2026, capped at $5M.
Demand for uncorrelated assets continues to build across onchain markets.
Visit the pool -> app.pendle.finance/trade/pt-looping?search=reusd
#reinsurance #RWA #PENDLE #Morpho #yield
New incentives for PT-reUSD looping are now available on Pendle.
Open to new loops and positions until August 27th 2026, capped at $5M.
Demand for uncorrelated assets continues to build across onchain markets.
Visit the pool -> app.pendle.finance/trade/pt-looping?search=reusd
#reinsurance #RWA #PENDLE #Morpho #yield
Open to new loops and positions until August 27th 2026, capped at $5M.
Demand for uncorrelated assets continues to build across onchain markets.
Visit the pool -> app.pendle.finance/trade/pt-looping?search=reusd
#reinsurance #RWA #PENDLE #Morpho #yield
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Onchain reinsurance continues to expand within the Pendle ecosystem.
PT-reUSD is among the selected markets. Another step for RWAs becoming core DeFi collateral.
Visit the vault: app.morpho.org/ethereum/vault/0x55C1B6e461a6334B567bAF0FEb5D728715446f05/pendle-ecosystem-usdc#overview
#reinsurance #RWA #PENDLE #Morpho #USDC
Onchain reinsurance continues to expand within the Pendle ecosystem.
PT-reUSD is among the selected markets. Another step for RWAs becoming core DeFi collateral.
Visit the vault: app.morpho.org/ethereum/vault/0x55C1B6e461a6334B567bAF0FEb5D728715446f05/pendle-ecosystem-usdc#overview
#reinsurance #RWA #PENDLE #Morpho #USDC
PT-reUSD is among the selected markets. Another step for RWAs becoming core DeFi collateral.
Visit the vault: app.morpho.org/ethereum/vault/0x55C1B6e461a6334B567bAF0FEb5D728715446f05/pendle-ecosystem-usdc#overview
#reinsurance #RWA #PENDLE #Morpho #USDC
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Swap into reUSD and reUSDe through De¹.
De¹ compares quotes across liquidity sources and routes each trade to the best available price at execution.
Live on the Re app.
#reinsurance #RWA #DeFi #aggregator
Swap into reUSD and reUSDe through De¹.
De¹ compares quotes across liquidity sources and routes each trade to the best available price at execution.
Live on the Re app.
#reinsurance #RWA #DeFi #aggregator
De¹ compares quotes across liquidity sources and routes each trade to the best available price at execution.
Live on the Re app.
#reinsurance #RWA #DeFi #aggregator
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Article
reUSD is Live on SolanareUSD is now live on Solana, bridgeable from Ethereum mainnet via Chainlink CCIP [1]. Markets is live on Jupiter Lend [2].
Why it matters.
Integrating with Solana gives Re access to another major onchain economy with deep liquidity. Solana is one of the fastest-growing DeFi ecosystems, ranking among the top blockchains in DEX volume, DeFi TVL, and stablecoin supply [3]. Solana has also emerged as a major network for real-world asset tokenization; it hosts $3.7 billion in onchain RWAs, making it the third-largest blockchain for tokenized real-world assets [4].
The launch also opens new partnership and integration opportunities across Solana's lending, trading, and liquidity protocols. Finally, reUSD users will benefit from Solana's high throughput and low transaction fees.
For Solana, reUSD adds a new source of real-world reinsurance exposure. Behind it sits a $510.5 million underwriting portfolio spread across diversified, low-volatility lines in 49 U.S. states, with low exposure to catastrophe risk. Its value comes from regulated reinsurance activity rather than the market forces that drive most crypto-native assets; for Solana's DeFi protocols, that means an asset whose value is largely uncorrelated to the broader crypto market.
How to participate.
Bridging your reUSD to Solana is simple:
Connect your wallet in the Re App (https://app.re.xyz)On the panel on the reUSD page, select "Bridge," choose Solana as the recipient chain, and execute the transaction
In order to continue earning Re Points on reUSD that you've bridged to Solana, connect your Solana wallet to your main Ethereum wallet via the Points page (https://app.re.xyz/points).
For a full accounting of protocol metrics, visit the Re App (https://app.re.xyz). For more information about the protocol, visit the Re docs (https://docs.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz (https://re.xyz), operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com (https://coverre.com), operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz (https://re.xyz).
Open the Re App: app.re.xyz
#reinsurance #RWA #TradFi #solana #jupiterexchange
Sources
https://chain.link/cross-chainhttps://jup.aghttps://defillama.com/chainshttps://app.rwa.xyz/overview
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.
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://re.xyz/disclosure).
reUSD is Live on Solana
reUSD is now live on Solana, bridgeable from Ethereum mainnet via Chainlink CCIP [1]. Markets is live on Jupiter Lend [2].
Why it matters.
Integrating with Solana gives Re access to another major onchain economy with deep liquidity. Solana is one of the fastest-growing DeFi ecosystems, ranking among the top blockchains in DEX volume, DeFi TVL, and stablecoin supply [3]. Solana has also emerged as a major network for real-world asset tokenization; it hosts $3.7 billion in onchain RWAs, making it the third-largest blockchain for tokenized real-world assets [4].
The launch also opens new partnership and integration opportunities across Solana's lending, trading, and liquidity protocols. Finally, reUSD users will benefit from Solana's high throughput and low transaction fees.
For Solana, reUSD adds a new source of real-world reinsurance exposure. Behind it sits a $510.5 million underwriting portfolio spread across diversified, low-volatility lines in 49 U.S. states, with low exposure to catastrophe risk. Its value comes from regulated reinsurance activity rather than the market forces that drive most crypto-native assets; for Solana's DeFi protocols, that means an asset whose value is largely uncorrelated to the broader crypto market.
How to participate.
Bridging your reUSD to Solana is simple:
Connect your wallet in the Re App (https://app.re.xyz)On the panel on the reUSD page, select "Bridge," choose Solana as the recipient chain, and execute the transaction
In order to continue earning Re Points on reUSD that you've bridged to Solana, connect your Solana wallet to your main Ethereum wallet via the Points page (https://app.re.xyz/points).
For a full accounting of protocol metrics, visit the Re App (https://app.re.xyz). For more information about the protocol, visit the Re docs (https://docs.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz (https://re.xyz), operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com (https://coverre.com), operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz (https://re.xyz).
Open the Re App: app.re.xyz
#reinsurance #RWA #TradFi #solana #jupiterexchange
Sources
https://chain.link/cross-chainhttps://jup.aghttps://defillama.com/chainshttps://app.rwa.xyz/overview
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.
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://re.xyz/disclosure).
Why it matters.
Integrating with Solana gives Re access to another major onchain economy with deep liquidity. Solana is one of the fastest-growing DeFi ecosystems, ranking among the top blockchains in DEX volume, DeFi TVL, and stablecoin supply [3]. Solana has also emerged as a major network for real-world asset tokenization; it hosts $3.7 billion in onchain RWAs, making it the third-largest blockchain for tokenized real-world assets [4].
The launch also opens new partnership and integration opportunities across Solana's lending, trading, and liquidity protocols. Finally, reUSD users will benefit from Solana's high throughput and low transaction fees.
For Solana, reUSD adds a new source of real-world reinsurance exposure. Behind it sits a $510.5 million underwriting portfolio spread across diversified, low-volatility lines in 49 U.S. states, with low exposure to catastrophe risk. Its value comes from regulated reinsurance activity rather than the market forces that drive most crypto-native assets; for Solana's DeFi protocols, that means an asset whose value is largely uncorrelated to the broader crypto market.
How to participate.
Bridging your reUSD to Solana is simple:
Connect your wallet in the Re App (https://app.re.xyz)On the panel on the reUSD page, select "Bridge," choose Solana as the recipient chain, and execute the transaction
In order to continue earning Re Points on reUSD that you've bridged to Solana, connect your Solana wallet to your main Ethereum wallet via the Points page (https://app.re.xyz/points).
For a full accounting of protocol metrics, visit the Re App (https://app.re.xyz). For more information about the protocol, visit the Re docs (https://docs.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz (https://re.xyz), operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com (https://coverre.com), operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz (https://re.xyz).
Open the Re App: app.re.xyz
#reinsurance #RWA #TradFi #solana #jupiterexchange
Sources
https://chain.link/cross-chainhttps://jup.aghttps://defillama.com/chainshttps://app.rwa.xyz/overview
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.
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://re.xyz/disclosure).
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reUSD is live on Solana.
Re connects onchain capital to real-world risk, supports a diversified $510.5M portfolio and backs 700,000+ U.S. policyholders.
The launch expands Solana's RWA ecosystem, bringing balanced exposure to the $700B global reinsurance market.
#reinsurance #solana #RWA
reUSD is live on Solana.
Re connects onchain capital to real-world risk, supports a diversified $510.5M portfolio and backs 700,000+ U.S. policyholders.
The launch expands Solana's RWA ecosystem, bringing balanced exposure to the $700B global reinsurance market.
#reinsurance #solana #RWA
Re connects onchain capital to real-world risk, supports a diversified $510.5M portfolio and backs 700,000+ U.S. policyholders.
The launch expands Solana's RWA ecosystem, bringing balanced exposure to the $700B global reinsurance market.
#reinsurance #solana #RWA
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BREAKING:
reUSD Smart Vaults on Jupiter Lend v2 reached $6M in Total Supply in under 3 hours.
#reinsurance #RWA #JupiterLend #jupiterexchange #solana
BREAKING:
reUSD Smart Vaults on Jupiter Lend v2 reached $6M in Total Supply in under 3 hours.
#reinsurance #RWA #JupiterLend #jupiterexchange #solana
reUSD Smart Vaults on Jupiter Lend v2 reached $6M in Total Supply in under 3 hours.
#reinsurance #RWA #JupiterLend #jupiterexchange #solana
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reUSD is now live on Jupiter Lend.
Deposit reUSD as collateral in Jupiter's $2B lending market on Solana and borrow jupUSD against it.
Re connects onchain capital to real-world risk: a diversified $510.5M portfolio backing 700,000+ U.S. policyholders.
How it works:
1) Deposit reUSD and jupUSD into a reUSD/jupUSD LP
2) Borrow jupUSD against your position
3) Earn 20x Re Points on your reUSD/jupUSD collateral
Vault: jup.ag/lend/borrow/smart/97/deposit
#reinsurance #RWA #DeFi #solana #jupiterexchange
reUSD is now live on Jupiter Lend.
Deposit reUSD as collateral in Jupiter's $2B lending market on Solana and borrow jupUSD against it.
Re connects onchain capital to real-world risk: a diversified $510.5M portfolio backing 700,000+ U.S. policyholders.
How it works:
1) Deposit reUSD and jupUSD into a reUSD/jupUSD LP
2) Borrow jupUSD against your position
3) Earn 20x Re Points on your reUSD/jupUSD collateral
Vault: jup.ag/lend/borrow/smart/97/deposit
#reinsurance #RWA #DeFi #solana #jupiterexchange
Deposit reUSD as collateral in Jupiter's $2B lending market on Solana and borrow jupUSD against it.
Re connects onchain capital to real-world risk: a diversified $510.5M portfolio backing 700,000+ U.S. policyholders.
How it works:
1) Deposit reUSD and jupUSD into a reUSD/jupUSD LP
2) Borrow jupUSD against your position
3) Earn 20x Re Points on your reUSD/jupUSD collateral
Vault: jup.ag/lend/borrow/smart/97/deposit
#reinsurance #RWA #DeFi #solana #jupiterexchange
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Every treaty's performance since inception, published.
Each row is a treaty, a contract to take on a defined share of an insurer's policies under set terms.
In a market that still runs on email and PDFs, Re runs on data anyone can check.
#reinsurance #RWA #TradFi
Every treaty's performance since inception, published.
Each row is a treaty, a contract to take on a defined share of an insurer's policies under set terms.
In a market that still runs on email and PDFs, Re runs on data anyone can check.
#reinsurance #RWA #TradFi
Each row is a treaty, a contract to take on a defined share of an insurer's policies under set terms.
In a market that still runs on email and PDFs, Re runs on data anyone can check.
#reinsurance #RWA #TradFi
1
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Onchain reinsurance is just 1.3% of the RWA market.
The gap is the opportunity.
Source: DefiLlama
#reinsurance #RWA #DeFi
Onchain reinsurance is just 1.3% of the RWA market.
The gap is the opportunity.
Source: DefiLlama
#reinsurance #RWA #DeFi
The gap is the opportunity.
Source: DefiLlama
#reinsurance #RWA #DeFi
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Partly True
NEW: Term Labs V2 is live with reUSD as a core asset.
V2 expands the role of reUSD and PT-reUSD across fixed-term markets, bringing reinsurance-backed collateral into onchain credit.
Visit the markets ↓
#reinsurance #RWA #DeFi
NEW: Term Labs V2 is live with reUSD as a core asset.
V2 expands the role of reUSD and PT-reUSD across fixed-term markets, bringing reinsurance-backed collateral into onchain credit.
Visit the markets ↓
#reinsurance #RWA #DeFi
V2 expands the role of reUSD and PT-reUSD across fixed-term markets, bringing reinsurance-backed collateral into onchain credit.
Visit the markets ↓
#reinsurance #RWA #DeFi
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Article
Performance Update: July 2026Past $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).
#reinsurance #RWA #DeFi
Sources
https://re.xyz/insights/reusde-redemptionshttps://app.re.xyz/capital-strategyhttps://defillama.com/unlocks/rehttps://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).
Performance Update: July 2026
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).
#reinsurance #RWA #DeFi
Sources
https://re.xyz/insights/reusde-redemptionshttps://app.re.xyz/capital-strategyhttps://defillama.com/unlocks/rehttps://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).
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).
#reinsurance #RWA #DeFi
Sources
https://re.xyz/insights/reusde-redemptionshttps://app.re.xyz/capital-strategyhttps://defillama.com/unlocks/rehttps://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).
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Two questions for any yield-bearing instrument: what pays it, and who verifies it.
For some, funding rates are a function of leverage demand in perpetual futures markets.
Re is built on a different source: reinsurance premium from regulated insurance companies.
Reserves are verified by The Network Firm.
#reinsurance #yield #YieldBearingAsset
Two questions for any yield-bearing instrument: what pays it, and who verifies it.
For some, funding rates are a function of leverage demand in perpetual futures markets.
Re is built on a different source: reinsurance premium from regulated insurance companies.
Reserves are verified by The Network Firm.
#reinsurance #yield #YieldBearingAsset
For some, funding rates are a function of leverage demand in perpetual futures markets.
Re is built on a different source: reinsurance premium from regulated insurance companies.
Reserves are verified by The Network Firm.
#reinsurance #yield #YieldBearingAsset
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Article
Auditing the Oracle: Re's Sherlock Security ReviewRe treats independent security review as a standing requirement, not a one-time milestone. Sherlock recently completed a security audit of the NAV oracle stack, which publishes the daily onchain value of reUSD and reUSDe.
The Importance of Oracle Audits
Oracles are a critical component of DeFi infrastructure. An oracle is the connection between a protocol and the outside world: the mechanism that brings offchain price data onchain for smart contracts to act on.
Lending Markets: need to know what a borrower's collateral is worth.Perpetuals Exchanges: require the price of the asset being traded.Stablecoins: must continually track the value of the reserves behind them.
That data doesn't exist onchain on its own; an oracle reports it, and every contract downstream treats that report as a source of truth.
That very importance of oracles also makes them a constant target. A protocol's smart contracts will act automatically on any price they're handed, so they can be targeted via oracle exploits even if they're written and audited perfectly. If an exploit corrupts the price that an oracle reports, the contract has no way to know it. It executes exactly as designed, but it does so on a number that is false, with the potential for the protocol to be drained of millions of dollars in the process.
That threat is real, not hypothetical. DeFi protocols were drained of roughly $40 million via oracle exploits in July alone, and one affected protocol was forced to shut down operations entirely. For any protocol that prices assets onchain, oracle security is a continuous and existential concern. Any responsible engineering team stays diligent as a matter of course, but that diligence has a limit: a team can test only for the failures it can foresee. Independent auditors are a critical bulwark to cover anything that the team may have missed.
About the Audit
As the means by which the daily mint and redeem price for reUSD and reUSDe are published onchain, Re's NAV oracle is the most consequential pricing component in the protocol. That published figure is the reference integrators read from and the value that the protocol's smart contracts use when minting and redeeming.
The oracle is therefore one of the highest-value surfaces an attacker can reach: if the published figure were wrong, everything downstream that trusted it would be wrong alongside it. That makes independent review essential, and Re treats it that way.
Toward this end, Re contracted with Sherlock [1], a security firm built around adversarial review, structured so that independent researchers are rewarded for the vulnerabilities they surface. For this engagement, security researchers KupiaSec and vinica_boy examined the NAV oracle stack from July 15 to 18, 2026.
The Results
Sherlock sorts audit findings into three categories:
High: directly exploitable security vulnerabilities that require urgent attentionMedium: security vulnerabilities that may not be directly exploitable or may be exploitable only under certain conditions, and must be addressedLow/Informational: non-exploitable, informational findings that do not pose a security risk or impact the system's integrity, and are not considered a priority for remediation
Re's audit produced zero High, one Medium, and five Low/Informational findings.
The single Medium finding was not exploitable by an unprivileged outside attacker; it required control of an authorized NAV-submission key. Even with that key, however, an attacker could only have raised the NAV slightly beyond the system's intended cap by splitting one increase into several smaller steps, rather than moved it freely. The underlying issue was a gap between how the system behaved and how its documentation described it.
The Low/Informational findings were all minor edge cases, none of them exploitable by an outside attacker.
All issues were addressed before the audit report was published, as confirmed by the report itself. The report may be viewed here [2].
A Commitment to Security and Transparency
This audit adds to an existing record rather than beginning a new one. Re maintains an ongoing commitment to security and transparency.
Re's smart contracts have been audited [3] by Hacken and Certora across multiple engagements and formally verified by Certora. The protocol's reserves are attested daily by The Network Firm and published onchain through Chainlink. The Sherlock audit brings the newest and most price-critical component of the system under the same discipline. The onchain component of Re's business is held to the same scrutiny the offchain reinsurance side has always required: no one extends trust to an unexamined balance sheet. All audit results are available to users on the Re App (https://app.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz, operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com, operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz.
About Sherlock
Sherlock provides complete lifecycle security for onchain systems, from development through launch and live operations. Its work spans private audits, contests, AI-native security reviews, bug bounties, and exploit coverage, giving teams different ways to pressure-test code before and after it reaches production. For Re, Sherlock conducted a private audit of the NAV oracle stack, focusing on the contracts and integrations responsible for pricing reUSD and reUSDe onchain. Learn more at sherlock.xyz.
Learn More
For a full accounting of protocol metrics, visit the Re App. For more on the protocol, visit the Re docs.
Visit the Re App: https://app.re.xyz
#reinsurance #CryptoSecurity #AuditReport
Sources
https://sherlock.xyzhttps://sherlock-files.ams3.digitaloceanspaces.com/reports/2026.07.25%20-%20Final%20-%20Re.xyz%20Collaborative%20Audit%20Report%201784984640.pdfhttps://docs.re.xyz/transparency-and-data-show-me-the-receipts/audits-attestations-custody-structure
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.
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 (https://re.xyz), Terms of Service (https://re.xyz/terms), and Disclaimers (https://docs.re.xyz/disclaimers).
Auditing the Oracle: Re's Sherlock Security Review
Re treats independent security review as a standing requirement, not a one-time milestone. Sherlock recently completed a security audit of the NAV oracle stack, which publishes the daily onchain value of reUSD and reUSDe.
The Importance of Oracle Audits
Oracles are a critical component of DeFi infrastructure. An oracle is the connection between a protocol and the outside world: the mechanism that brings offchain price data onchain for smart contracts to act on.
Lending Markets: need to know what a borrower's collateral is worth.Perpetuals Exchanges: require the price of the asset being traded.Stablecoins: must continually track the value of the reserves behind them.
That data doesn't exist onchain on its own; an oracle reports it, and every contract downstream treats that report as a source of truth.
That very importance of oracles also makes them a constant target. A protocol's smart contracts will act automatically on any price they're handed, so they can be targeted via oracle exploits even if they're written and audited perfectly. If an exploit corrupts the price that an oracle reports, the contract has no way to know it. It executes exactly as designed, but it does so on a number that is false, with the potential for the protocol to be drained of millions of dollars in the process.
That threat is real, not hypothetical. DeFi protocols were drained of roughly $40 million via oracle exploits in July alone, and one affected protocol was forced to shut down operations entirely. For any protocol that prices assets onchain, oracle security is a continuous and existential concern. Any responsible engineering team stays diligent as a matter of course, but that diligence has a limit: a team can test only for the failures it can foresee. Independent auditors are a critical bulwark to cover anything that the team may have missed.
About the Audit
As the means by which the daily mint and redeem price for reUSD and reUSDe are published onchain, Re's NAV oracle is the most consequential pricing component in the protocol. That published figure is the reference integrators read from and the value that the protocol's smart contracts use when minting and redeeming.
The oracle is therefore one of the highest-value surfaces an attacker can reach: if the published figure were wrong, everything downstream that trusted it would be wrong alongside it. That makes independent review essential, and Re treats it that way.
Toward this end, Re contracted with Sherlock [1], a security firm built around adversarial review, structured so that independent researchers are rewarded for the vulnerabilities they surface. For this engagement, security researchers KupiaSec and vinica_boy examined the NAV oracle stack from July 15 to 18, 2026.
The Results
Sherlock sorts audit findings into three categories:
High: directly exploitable security vulnerabilities that require urgent attentionMedium: security vulnerabilities that may not be directly exploitable or may be exploitable only under certain conditions, and must be addressedLow/Informational: non-exploitable, informational findings that do not pose a security risk or impact the system's integrity, and are not considered a priority for remediation
Re's audit produced zero High, one Medium, and five Low/Informational findings.
The single Medium finding was not exploitable by an unprivileged outside attacker; it required control of an authorized NAV-submission key. Even with that key, however, an attacker could only have raised the NAV slightly beyond the system's intended cap by splitting one increase into several smaller steps, rather than moved it freely. The underlying issue was a gap between how the system behaved and how its documentation described it.
The Low/Informational findings were all minor edge cases, none of them exploitable by an outside attacker.
All issues were addressed before the audit report was published, as confirmed by the report itself. The report may be viewed here [2].
A Commitment to Security and Transparency
This audit adds to an existing record rather than beginning a new one. Re maintains an ongoing commitment to security and transparency.
Re's smart contracts have been audited [3] by Hacken and Certora across multiple engagements and formally verified by Certora. The protocol's reserves are attested daily by The Network Firm and published onchain through Chainlink. The Sherlock audit brings the newest and most price-critical component of the system under the same discipline. The onchain component of Re's business is held to the same scrutiny the offchain reinsurance side has always required: no one extends trust to an unexamined balance sheet. All audit results are available to users on the Re App (https://app.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz, operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com, operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz.
About Sherlock
Sherlock provides complete lifecycle security for onchain systems, from development through launch and live operations. Its work spans private audits, contests, AI-native security reviews, bug bounties, and exploit coverage, giving teams different ways to pressure-test code before and after it reaches production. For Re, Sherlock conducted a private audit of the NAV oracle stack, focusing on the contracts and integrations responsible for pricing reUSD and reUSDe onchain. Learn more at sherlock.xyz.
Learn More
For a full accounting of protocol metrics, visit the Re App. For more on the protocol, visit the Re docs.
Visit the Re App: https://app.re.xyz
#reinsurance #CryptoSecurity #AuditReport
Sources
https://sherlock.xyzhttps://sherlock-files.ams3.digitaloceanspaces.com/reports/2026.07.25%20-%20Final%20-%20Re.xyz%20Collaborative%20Audit%20Report%201784984640.pdfhttps://docs.re.xyz/transparency-and-data-show-me-the-receipts/audits-attestations-custody-structure
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.
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 (https://re.xyz), Terms of Service (https://re.xyz/terms), and Disclaimers (https://docs.re.xyz/disclaimers).
The Importance of Oracle Audits
Oracles are a critical component of DeFi infrastructure. An oracle is the connection between a protocol and the outside world: the mechanism that brings offchain price data onchain for smart contracts to act on.
Lending Markets: need to know what a borrower's collateral is worth.Perpetuals Exchanges: require the price of the asset being traded.Stablecoins: must continually track the value of the reserves behind them.
That data doesn't exist onchain on its own; an oracle reports it, and every contract downstream treats that report as a source of truth.
That very importance of oracles also makes them a constant target. A protocol's smart contracts will act automatically on any price they're handed, so they can be targeted via oracle exploits even if they're written and audited perfectly. If an exploit corrupts the price that an oracle reports, the contract has no way to know it. It executes exactly as designed, but it does so on a number that is false, with the potential for the protocol to be drained of millions of dollars in the process.
That threat is real, not hypothetical. DeFi protocols were drained of roughly $40 million via oracle exploits in July alone, and one affected protocol was forced to shut down operations entirely. For any protocol that prices assets onchain, oracle security is a continuous and existential concern. Any responsible engineering team stays diligent as a matter of course, but that diligence has a limit: a team can test only for the failures it can foresee. Independent auditors are a critical bulwark to cover anything that the team may have missed.
About the Audit
As the means by which the daily mint and redeem price for reUSD and reUSDe are published onchain, Re's NAV oracle is the most consequential pricing component in the protocol. That published figure is the reference integrators read from and the value that the protocol's smart contracts use when minting and redeeming.
The oracle is therefore one of the highest-value surfaces an attacker can reach: if the published figure were wrong, everything downstream that trusted it would be wrong alongside it. That makes independent review essential, and Re treats it that way.
Toward this end, Re contracted with Sherlock [1], a security firm built around adversarial review, structured so that independent researchers are rewarded for the vulnerabilities they surface. For this engagement, security researchers KupiaSec and vinica_boy examined the NAV oracle stack from July 15 to 18, 2026.
The Results
Sherlock sorts audit findings into three categories:
High: directly exploitable security vulnerabilities that require urgent attentionMedium: security vulnerabilities that may not be directly exploitable or may be exploitable only under certain conditions, and must be addressedLow/Informational: non-exploitable, informational findings that do not pose a security risk or impact the system's integrity, and are not considered a priority for remediation
Re's audit produced zero High, one Medium, and five Low/Informational findings.
The single Medium finding was not exploitable by an unprivileged outside attacker; it required control of an authorized NAV-submission key. Even with that key, however, an attacker could only have raised the NAV slightly beyond the system's intended cap by splitting one increase into several smaller steps, rather than moved it freely. The underlying issue was a gap between how the system behaved and how its documentation described it.
The Low/Informational findings were all minor edge cases, none of them exploitable by an outside attacker.
All issues were addressed before the audit report was published, as confirmed by the report itself. The report may be viewed here [2].
A Commitment to Security and Transparency
This audit adds to an existing record rather than beginning a new one. Re maintains an ongoing commitment to security and transparency.
Re's smart contracts have been audited [3] by Hacken and Certora across multiple engagements and formally verified by Certora. The protocol's reserves are attested daily by The Network Firm and published onchain through Chainlink. The Sherlock audit brings the newest and most price-critical component of the system under the same discipline. The onchain component of Re's business is held to the same scrutiny the offchain reinsurance side has always required: no one extends trust to an unexamined balance sheet. All audit results are available to users on the Re App (https://app.re.xyz).
About Re
Re is the onchain protocol connecting real-world reinsurance capital with decentralized finance. Its flagship product, reUSD, is a deposit token issued by Resilience Foundation Cayman LLC and made available to non-U.S. persons in specific geographies. The Re ecosystem brings together the onchain "re" protocol at re.xyz, operated by Resilience Foundation Cayman LLC, with the regulated reinsurance business under the "Cover Re" brand at coverre.com, operated by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. Resilience Foundation, Resilience (BVI) Ltd, and Resilience Inv SPC do not provide insurance or reinsurance services and do not hold an insurance license. Learn more at re.xyz.
About Sherlock
Sherlock provides complete lifecycle security for onchain systems, from development through launch and live operations. Its work spans private audits, contests, AI-native security reviews, bug bounties, and exploit coverage, giving teams different ways to pressure-test code before and after it reaches production. For Re, Sherlock conducted a private audit of the NAV oracle stack, focusing on the contracts and integrations responsible for pricing reUSD and reUSDe onchain. Learn more at sherlock.xyz.
Learn More
For a full accounting of protocol metrics, visit the Re App. For more on the protocol, visit the Re docs.
Visit the Re App: https://app.re.xyz
#reinsurance #CryptoSecurity #AuditReport
Sources
https://sherlock.xyzhttps://sherlock-files.ams3.digitaloceanspaces.com/reports/2026.07.25%20-%20Final%20-%20Re.xyz%20Collaborative%20Audit%20Report%201784984640.pdfhttps://docs.re.xyz/transparency-and-data-show-me-the-receipts/audits-attestations-custody-structure
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.
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 (https://re.xyz), Terms of Service (https://re.xyz/terms), and Disclaimers (https://docs.re.xyz/disclaimers).
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We support the passage of the Clarity Act.
Re represents an industry built on contracts and capital requirements. Markets built on real economic activity benefit from clear regulation.
Digital asset markets are ready for clear rules. It's time to deliver them.
#CLARITYAct #Stablecoins
We support the passage of the Clarity Act.
Re represents an industry built on contracts and capital requirements. Markets built on real economic activity benefit from clear regulation.
Digital asset markets are ready for clear rules. It's time to deliver them.
#CLARITYAct #Stablecoins
Re represents an industry built on contracts and capital requirements. Markets built on real economic activity benefit from clear regulation.
Digital asset markets are ready for clear rules. It's time to deliver them.
#CLARITYAct #Stablecoins
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Reinsurers hold ~$700B in security collateral today.
That's 2x the size of the stablecoin market.
Almost none of it is onchain yet. That is starting to change.
Karn Saroya, CEO of Re, on The Rollup Podcast:
#reinsurance #RWA #Stablecoins
Reinsurers hold ~$700B in security collateral today.
That's 2x the size of the stablecoin market.
Almost none of it is onchain yet. That is starting to change.
Karn Saroya, CEO of Re, on The Rollup Podcast:
#reinsurance #RWA #Stablecoins
That's 2x the size of the stablecoin market.
Almost none of it is onchain yet. That is starting to change.
Karn Saroya, CEO of Re, on The Rollup Podcast:
#reinsurance #RWA #Stablecoins
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Reinsurance returns move on their own cycle.
Over nine years, reinsurer ROE finished positive every year. Claims and coverage pricing set the result, outside of equities and crypto.
Sources: Guy Carpenter, July 2026 Reinsurance Renewal Report; S&P Dow Jones Indices; SlickCharts. Data: 2017-2025.
#reinsurance #RWA #TradFi
Reinsurance returns move on their own cycle.
Over nine years, reinsurer ROE finished positive every year. Claims and coverage pricing set the result, outside of equities and crypto.
Sources: Guy Carpenter, July 2026 Reinsurance Renewal Report; S&P Dow Jones Indices; SlickCharts. Data: 2017-2025.
#reinsurance #RWA #TradFi
Over nine years, reinsurer ROE finished positive every year. Claims and coverage pricing set the result, outside of equities and crypto.
Sources: Guy Carpenter, July 2026 Reinsurance Renewal Report; S&P Dow Jones Indices; SlickCharts. Data: 2017-2025.
#reinsurance #RWA #TradFi
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The sUSG/reUSD pool on Curve via Tangent Finance is active and eligible for 20x Re points.
Explore the pool ↓
#reinsurance #RWA #DeFi #LP
The sUSG/reUSD pool on Curve via Tangent Finance is active and eligible for 20x Re points.
Explore the pool ↓
#reinsurance #RWA #DeFi #LP
Explore the pool ↓
#reinsurance #RWA #DeFi #LP
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