Real-world yield

Who it's for

You hold stablecoins, want yield above lending rates, and like that it comes from the real economy rather than crypto borrowing demand. You're comfortable with off-chain counterparty risk.

Where the yield comes from

• ONyc (OnRe): premiums from property catastrophe and specialty reinsurance, written by a licensed Bermuda reinsurer. Recently around 11 to 14% a year.
• PST (Huma): fees paid by businesses for short-term payment financing that's typically repaid in days.

Steps

1. Read the product docs for ONyc or PST: what you own, how redemptions work and who audits the reserves (OnRe publishes monthly attestations from Apex Group).
2. Mint or buy. Deposit USDC on OnRe to mint ONyc, or on Huma to receive PST. Both also trade on Solana DEXs.
3. Hold, or put it to work. Both are accepted in Kamino markets; Exponent splits ONyc into fixed-rate PTs and senior/junior tranches.
4. Size it. Treat RWAs as a slice of your stablecoin allocation, not all of it.

What to expect

ONyc's price follows net asset value and rises as premiums accrue, so your token count stays the same while its value grows. In a year with major catastrophes, NAV can drop. PST pays a USDC yield; Huma's Maxi mode swaps that yield for more HUMA rewards.

OnRe's Compounding Interest Rewards Season 1 (from Sep 27, 2026) adds rewards for positions held 60 days or more.

Risks

• Underwriting risk (ONyc): hurricanes, earthquakes or other insured events can reduce NAV.
• Credit risk (PST): borrowers could fail to repay.
• Not a stablecoin: ONyc has no peg and can trade below NAV.
• Off-chain and legal risk: you depend on companies, custodians and regulators.
• Leverage on top (borrowing against ONyc at Kamino) adds liquidation risk.

Exit plan

Redeem through the protocol (check redemption timing in the docs) or sell on a DEX. OnRe's Liquidity Engine, launched Sep 26, 2026, quotes buy and sell prices backed by its underwriting capital.

Level up

Lock a fixed rate on ONyc through Exponent's PT, or pick the senior tranche (srONyc) for lower yield with first-loss protection.