What is reUSDe ?
Earn Reinsurance Yield with USDe or sUSDe
Overview
reUSDe is a new token from the Re Protocol created in partnership with Ethena, explicitly designed for holders of USDe and sUSDe. This innovative product allows users to access high-yield reinsurance contracts without giving up the benefits of the Ethena ecosystem.
When users deposit USDe or sUSDe, they receive reUSDe in return. The deposited capital is deployed into a diversified portfolio of on-chain reinsurance contracts, similar to Re Protocol's core pools. Any assets not actively deployed into contracts will continue to earn sUSDe yield, maximizing capital efficiency.
Key Benefits
Dual Yield Exposure
Active Capital earns targeted mid-teens to mid-twenties returns through reinsurance yield.
Idle Capital continues to earn the sUSDe staking yield via Ethena’s yield engine.
Capital Efficiency reUSDe is designed to make every dollar work. Unused capital doesn’t sit idle—it earns yield via sUSDe.
Access to On-Chain Reinsurance Ethena users gain exposure to an alternative, uncorrelated yield source by participating in real-world insurance markets through Re Protocol.
How It Works
Deposit USDe or sUSDe Users can deposit either stablecoin to mint reUSDe. sUSDe deposits retain their underlying yield.
Mint reUSDe In exchange for your deposit, you receive reUSDe—a token that represents your position in the Insurance Capital Layer.
Yield Accrual Your reUSDe balance benefits from:
sUSDe’s native staking yield (for idle capital)
Re Protocol’s reinsurance yield (for active capital)
Redemption You can redeem your reUSDe for USDe or sUSDe, subject to any vesting terms or liquidity windows defined by the protocol.
Why reUSDe?
reUSDe is designed for users who want to:
Earn attractive, real-world yields uncorrelated with DeFi market volatility.
Continue benefiting from Ethena’s synthetic dollar yield.
Put idle assets to work in a capital-efficient, compliant, and transparent insurance layer.
Use Cases
Yield Seekers: Looking for higher returns than standard stablecoin staking.
Ethena Users: Holding USDe/sUSDe and want to maintain exposure while gaining access to a new yield source.
Diversification: Seeking returns not tied to traditional crypto lending or trading activity.
Smart Contract Addresses
For transparency and ease of access, here are the specific smart contract addresses associated with reUSDe:
This contract manages the pool where reUSDe collateral is held and deployed into reinsurance contracts.
This is the ERC-20 token contract for reUSDe, governing the minting, burning, and transfer of reUSDe tokens.
Risks and Considerations
Reinsurance Risk: Capital is exposed to underwriting risk via reinsurance contracts.
Liquidity Risk: reUSDe may be subject to liquidity windows or redemption conditions.
Smart Contract Risk: As with all DeFi protocols, users assume smart contract and integration risk.
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