A $700B market that runs on email is starting to settle onchain.
The insurance part doesn't change. Regulated insurers write the policies and pay the claims. Policyholders are made whole the way they always have been.
What changes is the capital underneath: open and verifiable.
Over the past weeks, the protocol purchased ~677,906 reUSDe at a ~4% discount to NAV and burned them.
Total buyback: ~4.7% of supply
The captured discount (~$44,900) flows to remaining holders through the token price, a one-time increase of about +0.24%.
Note: the 7-day
The first reUSDe redemption window opens July 9 at 12AM UTC.
If you hold reUSDe and want to redeem:
1) Submit between July 9 and July 22
2) Claim between July 23 and August 22
3) $1.5M pool, filled pro-rata if oversubscribed
4) Payout settles in sUSDe
↓
Note: If a redemption goes unclaimed within the 30-day claim period, the sUSDe payout is forfeited from this window and the original reUSDe is returned to the holder.
For more details:
$RE is now supported on @Anchorage Digital.
Anchorage adds assets only after rigorous diligence. For reinsurance capital coming onchain, clearing that bar is the signal that matters.
Regulated custody is where institutions enter. This is a step toward it.
NEW: first whole account treaty closed.
Instead of backing risks one program at a time, we took a share of a partner's entire portfolio in a single deal.
The result is broad diversification from multiple programs and scale from a single transaction.
Across the portfolio, as of
NEW: first whole account treaty closed.
Instead of backing risks one program at a time, we took a share of a partner's entire portfolio in a single deal.
The result is broad diversification from multiple programs and scale from a single transaction.
Across the portfolio, as of
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.
@karnsaroya on @therollupco:
