Profile
ONyc profile facts
Onchain Yield Coin (ONyc) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
- Collateral
- Tokenized exposure to OnRe-managed structured insurance and reinsurance yield products, designed to hold stable value while distributing real-world insurance-market returns through NAV appreciation
- Peg mechanism
- ONYC is a yield-bearing stable-value token rather than a fixed $1 wrapper; the token value accrues yield from OnRe's structured insurance collateral strategies, with primary-market access governed by OnRe's platform terms
- Jurisdiction
- Bermuda / Bermuda Monetary Authority / IIGB and DABA licenses (Segregated Accounts Company)
- Proof of reserves
- Agreed-Upon Procedures by Apex Insurance Fund Services Ltd. monthly agreed-upon-procedures NAV reports (series Nov 2025 through Aug 2026; August 31 report cover marked 'Un-audited', with detailed scope not verified in the current review; the historical July 31 report compares management-provided support and recomputes NAV, with no audit, actuarial or assurance conclusion and no direct third-party corroboration) Reserve source
- Contracts
- 1 deployment tracked across Solana.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
ONyc quick answers
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What is Onchain Yield Coin (ONyc)?
ONYC is a Solana-based NAV-accreting yield token backed by OnRe-managed structured insurance and reinsurance positions; not a hard $1 peg. The static profile records its US Dollar-denominated NAV accounting mechanism as: ONYC is a yield-bearing stable-value token rather than a fixed $1 wrapper; the token value accrues yield from OnRe's structured insurance collateral strategies, with primary-market access governed by OnRe's platform terms.
Is ONyc safe?
As of Nov 8, 2026, Pharos grades ONyc C- (53/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to whitelisted primary-market participants. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs ONyc?
Pharos records ONyc's reserves as of Oct 27, 2026 as 56.2% Short-term U.S. Treasury bills, 22.7% USDG, 6.1% sUSDS, and 11 smaller holdings. Reserve evidence: Agreed-Upon Procedures. Pharos classifies the backing as Real-World Asset Backed.
Can ONyc be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem ONyc?
Under the route Pharos reviewed on Oct 2, 2026, whitelisted primary-market participants can redeem ONyc for USDG. Redemption settles atomically on-chain. The reviewed redemption fee is at least 0.3%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
