Is there an OnRe airdrop?
None confirmed. OnRe has announced no airdrop and no reward or governance token. What it runs is the OnRe Points Program, and its docs are direct about what points are worth: "Points have no monetary value, are not transferable, and do not represent any entitlement to tokens, assets, or financial rewards."
The same page leaves a door open without promising anything. Points power a leaderboard "where your standing may influence future benefits, incentives, and program rewards at OnRe's discretion". We found no snapshot date, no token plan and no conversion rate.
The only OnRe token is ONyc, the yield-bearing reinsurance token you have to hold to earn points. It is a product you buy, not a reward.
Warning OnRe has announced no reward token, so any OnRe airdrop claim page or token sale is not from OnRe. Use only links from onre.finance and docs.onre.finance, and never enter a seed phrase.
What OnRe is
In its own words, "OnRe is a fully licensed, collateralized reinsurer and onchain asset manager". Its product is ONyc: "ONyc is an onchain yield-bearing asset that represents a proportional share of a regulated segregated account used for underwriting short-duration insurance and reinsurance contracts."
ONyc is not a stablecoin: "No, ONyc is not designed to maintain a fixed $1 peg." "ONyc is a non-rebasing token." Its price, the NAV, rises as premiums and collateral yield come in, and falls if claims and fees outweigh them. "OnRe targets a 10-12% base APY from underwriting performance." OnRe's live data on 9 November 2026 put the NAV at 1.164 and the yearly yield at 11.0%.
"OnRe currently operates on Solana". The regulated company is On Re SAC Ltd. in Bermuda: "OnRe SAC Ltd. is authorized and regulated by the Bermuda Monetary Authority." Its September 2026 review says "the number of ONyc holders grew 10.29% to 8,936", with assets of about $286 million.
How OnRe points work
OnRe Points started on 11 September 2025, when OnRe "today launched OnRe Points, a rewards program designed to incentivize meaningful participation in the ONyc ecosystem". There are no seasons and no published end date.
The base rate is "1 point per ONyc, per day." "Every position you hold is measured once a day." Where your ONyc sits sets the multiplier:
- Holding: 1x.
- Liquidity pools on Orca, Raydium or Kamino: 2x. "On automated market-maker pools, points are earned only on the ONyc side."
- Lending or deposits on Kamino or Loopscale: 3x to 4x.
- Yield tokens on Exponent or RateX: 5x. "ONyc Points are not earned on PT tokens within fixed rate markets."
- Looping on Kamino or Loopscale: 6x plus leverage. The docs add: "This also comes with higher risk."
Campaigns sit on top: "Unless otherwise stated, campaign boosts stack on top of standard venue multipliers." The current one started on 5 November 2026: "Lending and looping positions across OnRe Markets now earn 10x Points for a limited time." OnRe gave no end date.
Referrals pay the referrer 10% of the points the referred wallet earns, and the new wallet gets a 5% boost, but only once it holds a minimum "currently set at 100 ONyc". "There is currently no limit on the amount of referral rewards that can be earned." "Self referrals are not permitted within the OnRe Points Program."
Earned points stay put: "Once points are earned, they remain permanently associated with your wallet." The public leaderboard listed 25,302 wallets on 9 November 2026, and "the leaderboard's official daily ranking is captured at 00:00 UTC".
OnRe airdrop step-by-step guide
OnRe promises no airdrop. These steps earn OnRe Points.
- Check the excluded countries list first. The app blocks restricted locations, and Romania, the UK and the US are on the list.
- Use a Solana wallet: "Any Solana wallet supported by WalletConnect (80+ compatible wallets)." The Open Access route needs no sign-up and no KYC.
- Get ONyc. On app.onre.finance/earn, choose Open Access, enter USDC or USDG and press Purchase. "ONyc currently mints against USDC and USDG." You can also buy it: "Secondary liquidity is available 24/7 via Orca, Raydium, Jupiter."
- Hold it for 1x, or move it to a supported venue for 2x to 6x, plus the Kamino 10x boost while it lasts.
Warning Looping borrows against your ONyc, so a price drop can liquidate the position, and liquidity pools carry impermanent loss. Use leverage only with money you can afford to lose.
- If you want referral points, make a code in the dashboard. A wallet you refer only counts after it holds 100 ONyc.
- Track your total on the leaderboard or the public points API: "The ONyc Points API is publicly accessible and does not require an API key."
- Plan your exit before you buy. Open Access holders sell on a DEX; redeeming through OnRe needs a verified wallet and, per OnRe's own disclaimer, qualified investor status.
Open OnRe EarnOpens app.onre.finance
OnRe costs and fees
There is no free route: points come only from ONyc you hold or deploy. "Minting ONyc carries no mint fee. Users pay network fees on Solana." Fees come out of the NAV instead: "OnRe charges an annual investment management fee of 0.75% of average net assets", and "OnRe charges a 20% performance management fee on adjusted profit generated by the applicable segregated account." Redeeming through OnRe costs at least 0.25%. A referral needs 100 ONyc, about $116 at the 9 November NAV. Partner venues add their own fees.
OnRe risks and eligibility
- Nothing is owed. Points have no value and no token is promised.
- Your capital carries reinsurance risk. If claims exceed reserves, the NAV can fall.
- Retail holders cannot redeem with the regulated company: "ONyc tokens accessed through this Interface do not confer any ownership, redemption, governance, or other legal or contractual rights against On Re SAC Ltd. or its affiliates."
- Redemptions have stopped once. On 30 October 2026: "As a precaution, we have temporarily paused redemptions as we monitor evolving market conditions." Later that day: "Update: redemptions have been resumed."
- Excluded countries include the United States, the United Kingdom, Australia, Romania, South Korea, Bulgaria, Croatia and Vietnam. The docs list and the terms list do not match exactly (the terms add Panama), so check both.
- Direct minting and redemption need KYC: "To mint or redeem directly through the OnRe app, all capital providers must complete identity verification through our secure third-party provider, Sumsub." Individuals must also meet Bermuda wealth tests, such as "USD 200,000 in annual income this year and the past two years".
- The Open Access front end is a separate company. The terms say "These Terms apply between Latitude Technologies Corporation" and the user, and "The laws of Panama apply to these Terms." OnRe's launch blog names a different operator: "The permissionless access channel is operated by On Technologies Corporation, an independent entity."
- Points can be scaled down. On 9 November 2026 the public leaderboard showed a multiplier of 0.0001 on two of the top 20 wallets from 3 October, which no doc explains.
Who is behind OnRe?
OnRe's blog names Dan Roberts as co-founder and CEO, and Ayyan Rahman: "said Ayyan Rahman, Co-Founder and CGO at OnRe". On Re SAC Ltd. holds Bermuda Monetary Authority licences, "Registration number: 55347".
On 5 May 2026 OnRe announced its Series A: "The two firms co-led OnRe's $5 million Series A round", meaning Forward Industries and RockawayX. Cointelegraph reported the same round. RockawayX says "We seeded OnRe, validated it as an early underwriter", and an earlier OnRe post names Ethena and Solana Ventures as backers. The docs list smart contract audits by Quantstamp, Ackee and OtterSec. We didn't read their findings.
Sources
- OnRe Points Program OnRe docs
- Referral and Ambassador Program OnRe docs
- Welcome to OnRe OnRe docs
- OnRe Tokenized Reinsurance (ONyc) OnRe docs
- Frequently asked questions OnRe docs
- Open Access vs Institutional Access OnRe docs
- Minting ONyc OnRe docs
- Fees and commissions OnRe docs
- Redemptions and onchain liquidity OnRe docs
- KYC and AML policy OnRe docs
- ONyc excluded jurisdictions OnRe docs
- Open Access interface terms of use OnRe docs,
- Independent audits OnRe docs
- OnRe introduces points program rewarding ONyc participation across DeFi OnRe blog,
- Introducing ONyc Global Access OnRe blog,
- OnRe in review: September 2026 OnRe blog
- Forward Industries and RockawayX co-lead strategic investment in OnRe OnRe blog,
- Kamino 10x points post OnRe on X,
- Redemptions paused OnRe on X,
- Redemptions resumed OnRe on X,
- Public points leaderboard API OnRe
- Forward Industries, RockawayX back OnRe Cointelegraph,
This guide explains how the program works. It isn't financial advice, and no airdrop is guaranteed. Check OnRe's official channels before you connect a wallet or deposit funds.
