OnRe Finance's reinsurance-backed yield asset, ONyc, is expanding to Monad. Until now, the asset from @onrefinance has been available only on @Solana. A new version, nONyc, packages it throug
OnRe Finance's reinsurance-backed yield asset, ONyc, is expanding to Monad. Until now, the asset from @onrefinance has been available only on @Solana. A new version, nONyc, packages it through @plumenetwork Vaults and is designed to bring it to other EVM networks, with @Monad the first named destination.
ONyc already has more than $225M deployed across Solana DeFi, according to OnRe, which makes Solana the asset's main market so far.
According to Crypto Economy, the integration will initially bring ONyc to Monad and Ethereum. The aim is to make its yield accessible across more networks without separate infrastructure for each one. Plume's vault infrastructure is already used to distribute products linked to private credit, Treasury securities, fixed income and emerging-market debt, the outlet reported.
That gives users on EVM-compatible chains access to a product whose primary market was previously Solana. For Monad, it adds another real-world asset (RWA) option to an ecosystem that is building out yield products. CoinMarketCap's Monad news feed notes that Plume Vaults went live on Monad mainnet on 10 October 2026, offering tokenized assets such as US Treasuries.
ONyc is tied to reinsurance rather than token incentives. Crypto Economy reports that its returns come from insurance underwriting premiums and the collateral used in those operations. OnRe is a Bermuda-licensed reinsurer. Solana Compass reports that it holds an Innovative Insurer General Business license and a Class F Digital Asset Business Act license from the Bermuda Monetary Authority. It buys risk from primary insurers looking to offload exposure to catastrophe events such as hurricanes and earthquakes.
OnRe says ONyc is the largest real-world asset on Solana by DeFi active TVL, accounting for nearly 45% of active RWA capital on the network, according to the company's resources page. Yields vary over time. OnRe's own site has shown figures around 11%, while RWA.xyz lists a total asset value of about $292M for ONyc as of 13 October 2026.
Wider distribution does not guarantee demand. Liquidity and real usage on the new chains will determine whether the EVM expansion adds meaningfully to ONyc's current base on $SOL.
Crypto Economy: Plume Vaults Brings OnRe ONyc Beyond Solana via nONYC
