A PT (principal token) from @ExponentFinance, like @onrefinance's PT-ONyc, redeems for $1 of ONyc on its maturity date. Before maturity, a PT's market price moves with demand for fixed yield Kamino values PT collateral from a set yearly discount that shrinks in a straight line to $1 at maturity, and is not valued by the market price Market swings leave your borrowing limit unchanged, so you know exactly how your collateral value and LTV will move until maturity

Following continued monitoring of the ongoing Binance situation, borrowing has resumed in the SOL/BTC Market. While borrows were paused, the team monitored onchain activity to assess any risk to the market or users. We found no immediate risk, and Kamino remained unaffected throughout. Deposits, withdrawals and repayments continued to process normally.

Over $10M in fixed-rate loans are now active in the @onrefinance Market on Kamino. Fixed Rates bring a known cost of capital to reinsurance-backed strategies through rolling 30-day terms. A new standard for fixed-rate credit.

I am fascinated by teams pushing "crypto" into "financial rails" We have seen @ether_fi, @HyperliquidX, and @EthenaPay push the fold Now @thesubmitter_ and the Goldsand team are making this accessible to billions of Muslims around the world Global financing, Zero Interest

I am excited to be an investor in trade(xyz) as they partner with ICE to bring 24/7 perpetual futures on Hyperliquid to the United States. As a market participant, I am looking forward to to using their innovative product to enhance my investment process.

ONyc is the second-largest asset by deposits on @Loopscale, behind only USDC, per @BlockworksData. $36.9M in deposits, representing over 26% of total assets across Loopscale's lending markets. Real onchain demand for reinsurance-backed collateral.

Reinsurance, payment receivables, auto loans and onchain yield strategies each carry different risks Every tranching market on Exponent goes through internal and independent review before launch, with Senior protection set around each asset's risk profile The process behind each market ↓

"We reserve up to 50% of premiums to ensure when we’re heading into the highest-risk periods of the year, we can cover most of those losses immediately." Co-Founder + CSO @Ayyanrahman at @DeFinition_evt on premium reserving within OnRe’s broader approach to capital protection ↓

There's a trust problem in yield-bearing stablecoins. Four different yield models were explained in detail, alongside the defenses in place for when losses actually occur. On stage: @Ayyanrahman (OnRe) @DrPayFi (Huma) @tarungupta1475 (Coinshift) @MarcoPagnini2 (Pelican Investments) Moderated by @OnigiriGP (Onigiri Capital) 00:00 Intros 03:02 Reinsurance claims and loss reserves 05:55 Huma's 3 layers of transparency 09:12 Coinshift's liquidity coverage ratio 11:20 Verifying yield, audits, tail risk 21:18 Why Madoff and Terra Luna collapsed 26:01 What's next for allocators

Everything is boiling down to gambling in one form or another. That's why those focused on curating and building true financial systems will win. I think @thesubmitter_ and their team are building rails that will take time, but will service the ummah for decades.

As an actuary, the distinction I’d make here is between claims being paid and holders losing capital. ONyc is not a stablecoin. It’s a NAV-based asset whose value moves with underwriting performance and collateral yield. OnRe’s quoted yield already allows for expected claims through actuarial reserving. Premiums aren’t all treated as profit - there’s a reserve for the claims expected to come through, including losses that have occurred but haven’t been reported yet. When a fully reserved claim is paid, cash falls but so does the liability already recognised. You don’t take the same loss twice. The risk is that claims turn out worse than those estimates. That can reduce yield and, if sufficiently severe, principal. Reserving doesn’t eliminate underwriting risk, and leverage amplifies the consequences. So I agree users need to understand what they’re not looping a stablecoin. But a 2% claim payout doesn’t imply a 2% ONyc NAV loss. The question is how much losses exceed what’s already been allowed for, and how much of that excess the remaining income can absorb.

nONYC packages reinsurance-backed yield from the $800B global reinsurance industry as a Plume Vault. ONyc, built by @onrefinance, earns from reinsurance premiums, with added yield from the reserves backing it. nONYC makes that yield deployable on @monad and other EVM ecosystems where open finance is rapidly expanding.

Every investment carries risk, but this misses how ONyc actually absorbs losses. There's no junior tranche in ONyc itself, but there is a loss absorption layer: - Premium is paid to OnRe upfront and held in their reserve. - This premium is broken up roughly into two halves: a) into yields for users (that current 11% you see) and b) into what it think might be the expected loss - Claims within those expectations are paid out of that expected loss reserve (it does not touch NAV). - OnRe has replayed real events against its book. Hurricane Ida, Typhoon Jebi and Storm Bernd all came out at zero net NAV impact. - Hurricane Ian, the costliest US storms on record, came out at about 3.5% NAV drawdown. tl;dr yes, holders carry the risk beyond what's expected, but it would take a major event to impact NAV Disclosure: @elementaldefi works closely with OnRe If you don't want to be actively monitoring the risks, Elemental created ENDAS (Elemental Natural Disaster Alert System) specifically for OnRe's books. This allows us to rapidly unwind positions into stables if we detect something that could be serious enough to move the needle.

RWAs on @solana have quadrupled in the past year. The opportunity now is to build on that momentum by expanding how these assets are used and where capital can flow. OnRe is featured in @RWAFoundation_'s Tokenization on Solana report alongside the builders driving that growth.

imagine discovering an 18% APY loop. then finding out it's been earning 15-20% APY for the last 400 days. literally every yield farmer's dream. but every time you check, there's no liquidity. you start wondering if this thing even exists. at this point, you're convinced it's all a conspiracy. well, $5M of fresh borrow liquidity just landed on @kamino's ONyc/USDC loop. let's see how long that lasts.