Pendle launched a pool for Reinsurance Investment Protocol Re
@Re is a project that monetizes reinsurance to give back to holders.
You can read more about their $21M investment and collaboration with Ethena in my previous post
Looks like Re's reUSDe pool has been launched on @pendle_fi .
With $142M TVL and
Ethena USDe / sUSDe assets depositable
and Pendle pool launching
I think they're doing great
So I deposited some sUSDe that was just left in my wallet and converted it to reUSDe and deposited it as an LP in Pendle.
They don't have a points system yet, but
had a 16% interest rate last week.
Unless there's any major insurance related incidents,
it should be able to generate steady interest regardless of the state of the crypto market.
Currently, the Pendle Pool TVL is only about $248K,
which is why the initial LP rate is 80% with boosting, so I put LP
However, they do require KYC.
I was surprised when it said that I had to do KYC when I deposited money, but fortunately, it only takes about 5 minutes, and then I got it right away.
Ethena x Re
$USDe / $sUSDe of @ethena_labs now can 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 reinsurance field, but I remember when I interviewed for my first job at 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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