Re Protocol
About
Re Protocol is a decentralized platform that channels stablecoin capital into fully collateralized reinsurance contracts through licensed insurers, providing onchain access to the $800B+ global reinsurance market. Users deposit stablecoins (USDC, USDe, sUSDe, AUSD, and others) into Insurance Capital Layers (ICLs), which allocate capital to quota-share reinsurance agreements, and earn yield derived from real insurance premiums — not from token emissions or financial engineering. The protocol offers two tokenized tranches: reUSD (senior tranche with instant redemptions and a lower spread) and reUSDe (junior tranche with quarterly redemptions and a higher spread), both backed by verifiable solvency via daily onchain attestations.
Where Does Yield Come From?
Where the yield comes from
The protocol blends income from two sources:
- Off-protocol capital — funds placed with a licensed reinsurance company earn at the SOFR rate (a standard "risk-free" benchmark used for US-dollar-backed reinsurance).
- On-chain capital — funds that stay inside the protocol earn at the 7-day trailing average of the sUSDe basis trade rate.
Your final yield is a weighted average of those two rates, plus an extra spread that depends on which token you hold:
- reUSD (senior tranche) — base rates + 250 basis points (2.5% extra)
- reUSDe (junior tranche) — base rates + 850 basis points (8.5% extra)
What kind of insurance backs this
The protocol only invests in low-risk, short-term reinsurance — things like auto insurance, commercial general liability, and property insurance with limited catastrophe exposure. These are "quota-share" treaties, meaning the protocol takes a fixed percentage of the premiums and risks.
Safety first: who takes the first hit
The reinsurance company's own equity sits below all protocol deposits. If losses occur, the company's own money absorbs them before any depositor funds are affected.
How yield is paid out
Yield accrues daily to each token's price through a Net Asset Value (NAV) calculation, updated every 24 hours (at UTC midnight) via a Chainlink oracle with built-in guardrails that limit how much the price can move in a single day. Reinsurance programs typically start returning collateral to the protocol after about 18 months, but yield keeps building up the whole time your capital is deployed.
Extra incentives
On top of the premium-based yield, there is a separate Re Points program (governed by protocol rules) that provides additional rewards.
Persons
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Certora01-09-2025 - 26-09-2025 |
| Certora's manual code review of Re Core found 2 medium, 6 low, and 5 informational issues, all of which were confirmed and fixed by the protocol team, leaving no unresolved security findings at report delivery. |
Hacken11-04-2025 |
| All eight findings (2 medium, 1 low, 5 informational) were resolved before the final report, and code coverage reached 95.83%, indicating good remediation discipline. Residual design risks around the emergency updater role, Chainlink Functions beta status, and reliance on out-of-scope external contracts should be carefully managed in production. |
Hacken31-12-2024 |
| All 15 findings were resolved by the final review, including 3 high and 3 medium severity issues, indicating the audited contracts were remediated to an acceptable security posture; however, the exclusion of critical external dependencies and residual design risks (WETH depeg assumption, premature capital reservation) should be considered by the protocol team. |
Hacken04-09-2024 |
| All 29 findings (4 medium, 7 low, 18 informational) were resolved before the final report, and no critical or high-severity issues were identified; however, the protocol retains significant centralization risks (centralized minting, upgradable contracts, single points of control) that users should acknowledge before interacting with the system. |
Backers
According to Re's official LinkedIn page (linkedin.com/company/re-protocol), which the protocol links to directly from its documentation at docs.re.xyz, the company has raised funding across two rounds. The last round is listed as a Series Unknown round completed on June 14, 2024, raising US$7.0M. The only named investor shown on the LinkedIn page (via its Crunchbase integration) is Electric Capital. No additional investors, specific round names (Seed, Series A, etc.), or amounts are disclosed on the protocol's own website (re.xyz), documentation site (docs.re.xyz), or thesis page. The protocol's official pages do not otherwise mention venture backers or funding history.
Legal
Legal form
Exempted Limited Guarantee Foundation Company (Resilience Foundation); Segregated Portfolio Company (Resilience Inv SPC); British Virgin Islands company (Resilience BVI Ltd); Class B(iii) licensed exempted segregated portfolio company (Cover Reinsurance SPC Ltd.)
Registration jurisdiction
Resilience Foundation: Cayman Islands (registered no. IC-414560); Resilience Inv SPC: Cayman Islands; Resilience (BVI) Ltd: British Virgin Islands; Cover Reinsurance SPC Ltd.: Cayman Islands (Class B(iii) licensed)
Status and notes
The Re Protocol and website (re.xyz) are operated by Resilience Foundation Company ("Resilience Foundation"), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with registered number IC-414560. Two affiliated entities exist: Resilience (BVI) Ltd (British Virgin Islands) and Resilience Inv SPC (Cayman Islands segregated portfolio company). Regulated reinsurance underwriting is conducted exclusively by Cover Reinsurance SPC Ltd., a Cayman Islands Class B(iii) licensed exempted segregated portfolio company. The Privacy Policy identifies Resilience Foundation as data controller, incorporated in the Cayman Islands. The Terms of Service are governed by the laws of the British Virgin Islands, with exclusive jurisdiction in BVI courts. Legal/Imprint page at /disclosure, Terms at /terms, Privacy at /privacy are all accessible. Footer shows "Resilience Foundation ©2026". Tokens (reUSD/reUSDe) are available only to non-U.S. persons in permitted jurisdictions.