Reinsurance Investment Protocol Re, Pendle Pool Emerges
RE is a project that generates profits through reinsurance and returns them to holders.
We invested $21M and collaborated with Ethena, please see our previous post for more details.
Re has launched a reUSDe pool on Pendle.
$142M TVL
Ethena USDe / sUSDe Asset Deposit
And I think it's a good move to Pendle,
I deposited the sUSDe I was playing and turned it into reUSDe, and then I deposited it as an LP on Pendle.
They don't have a points system yet,
The interest rate last week was 16%
Unless there is a major insurance-related accident,
Regardless of the situation in the crypto market, I think we can generate steady interest.
Currently, the Pendle Pool is only about $248K,
That's why the initial LP interest rate is 80% including boosting, and I'm about 36% because I'm Unboosted
If you are interested, please take a look at @re.
However, they have to do KYC.
I was surprised when it said that if you deposit, you have to do KYC, but fortunately, it takes about 5 minutes and it is given immediately after that.
Ethena x Re
$USDe / $sUSDe of @ethena_labs can now be deposited to @re
What is Re?
- 'Reinsurance' RWA Protocol
- $21M investment from Electric Capital, Framework, and others
- TVL $135M (but not tracked on @DefiLlama yet)
- Website claims to offer additional interest of up to 23%.
- KYC required for deposits
- 40 days lockup on deposits
According to the docs, the deposited assets are invested in risk pools that invest in various reinsurance contracts and earn interest based on fees and premiums.
First of all, the current contract is with Ethena, which seems to insure Ethena's assets.
Other reinsurances in the real world, such as vehicle insurance, liability insurance, and property insurance, seem to be the original targets.
The surplus assets that are not used for insurance earn interest at $sUSDe for $USDe / $sUSDe, and the rest of the general stable is invested in assets that generate the highest interest at their own discretion.
In addition, they select reinsurance contracts to earn stabilized interest by excluding catastrophic risk contracts such as fires and typhoons.
It seems like a pretty interesting project.
I don't know much about the yield or stability of the reinsurance field, but I remember when I interviewed for my first job at the Korean reinsurance company "Korean Re" (wow the name Re is becoming interesting now), it was a very profitable and stabilized sector.
Of course, if there is a disaster-level accident due to a wrong contract, you may lose money.
Let's dig down more as it goes!
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