ONyc Goes Live on Kamino with 14% Yield and $20M Incentives
OnRe’s yield-bearing asset ONyc is now live as collateral on Kamino, Solana’s top DeFi money market with over $700M TVL. Traders can leverage ONyc for borrowing, lending or looping strategies while earning a 14%+ base yield uncorrelated to crypto volatility. Chainlink’s Onchain NAV solution ensures real-time, tamper-proof pricing for secure collateralization. To accelerate adoption, OnRe and partners have launched a $200K rewards pool for USDG borrows against ONyc, up to $20M in borrowing incentives and a 5× Ethena Points boost on sUSDe deposits from ONyc holders. This integration enhances capital efficiency and introduces a resilient, reinsurance-backed liquid asset into Solana DeFi.
Bullish
This integration is bullish for ONyc because listing it as collateral on Kamino—one of Solana’s largest DeFi markets with $700M+ TVL—significantly boosts liquidity and utility. In the short term, the $200K rewards pool, $20M borrowing incentives and 5× Ethena Points multiplier will drive demand and trading volume for ONyc. Over the long term, offering a 14%+ reinsurance-backed yield and secure onchain NAV via Chainlink enhances ONyc’s credibility and adoption, strengthening its market position and price support.