> For the complete documentation index, see [llms.txt](https://docs.re.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.re.xyz/getting-started-with-re/faq.md). # FAQ ## 1. What is Re Protocol? Re Protocol is a decentralized platform that channels stablecoin capital into fully collateralized reinsurance contracts through licensed insurers. Users deposit stablecoins into Insurance Capital Layers (ICLs), which allocate capital to quota-share reinsurance agreements. In return, depositors earn yield derived from a blend of on-chain and off-chain sources, plus a token-specific spread. ## 2. What tokens can I deposit? * **reUSD:** USDC, USDT, USDe, and sUSDe * **reUSDe:** USDe and sUSDe See the [Minting guide](/minting-and-redemptions/minting.md#eligibility-and-prerequisites) for requirements. The app shows current availability: * * ## 3. What are reUSD and reUSDe? | Feature | reUSD | reUSDe | | ----------------------- | ------------------------------------------------------------------------- | ------------------------------------------------------------------------ | | **Capital Tranche** | Senior | Mezzanine | | **Accepted Collateral** | USDC, USDT, USDe, sUSDe | USDe, sUSDe | | **Yield Mechanism** | Weighted average of SOFR and the 7-day trailing sUSDe yield, plus 250 bps | Risk-free rate plus 850 bps | | **Liquidity** | Instant redemptions when on-chain liquidity is available; queue otherwise | Quarterly windows when capacity and regulatory collateral release allow | | **Ideal For** | Stablecoin holders seeking steady, lower-volatility income | Participants willing to accept mezzanine risk for higher potential yield | ## 4. How does the capital stack work? The Re Protocol uses a layered capital structure to protect participants: 1. **Reinsurance company equity (junior tranche):** the reinsurer puts its own capital at risk first, sitting junior to all protocol capital. 2. **reUSDe (mezzanine tranche):** absorbs losses after the reinsurer's equity is exhausted. In exchange, earns a higher spread (850 bps). 3. **reUSD (senior tranche):** protected by both the reinsurer's equity and the reUSDe layer. Earns a lower spread (250 bps) with greater liquidity. ## 5. How is yield calculated? **reUSD** earns a blended yield based on where protocol capital is deployed: * Off-protocol capital earns SOFR plus a 250 bps spread. * Onchain capital earns the 7-day trailing average sUSDe yield plus the same 250 bps spread. **reUSDe** earns the risk-free rate plus an 850 bps spread. Token prices update daily at UTC 00:00, with onchain guardrails capping how far any oracle update or any two weeks of updates can move the price. See [About reUSD](/products/about-reusd.md#how-the-price-accrues) and [About reUSDe](/products/about-reusde.md#why-the-yield-is-higher) for more context. Current APY and NAV are available on the [metrics page](https://app.re.xyz/metrics) and through the [`/apy` API endpoint](/products/api-reference.md#apy). ## 6. How do I deposit? 1. Connect your wallet (e.g., MetaMask) 2. Complete KYC/AML verification 3. Select your strategy: choose reUSD or reUSDe 4. Read and sign purchase agreements 5. Deposit assets and receive the corresponding yield token ## 7. How is risk managed? * All token deposits are deployed into fully collateralized quota-share reinsurance contracts backed by a licensed reinsurer. * The reinsurance company's own capital sits junior to all protocol capital, providing an additional loss buffer. * On-chain reserves are transparent by default; off-chain balances are attested daily by The Network Firm and published via Chainlink. * Critical protocol controls (oracle config, redemptions, access management, custodian management) are operated through MPC multi-signature wallets. ## 8. Who is eligible? * Global access, excluding participants from the U.S. and other restricted jurisdictions. * KYC/AML verification is mandatory. * Restricted countries include (but are not limited to): U.S., Iran, North Korea, Syria, Russia, Belarus, Cuba, and others as listed in our policy. ## 9. How do redemptions work? * **reUSD:** Redemptions are instant (atomic) when on-chain liquidity is available. If instant capacity is exhausted, requests move to a FIFO queue until capacity is replenished. * **reUSDe:** Redemptions are considered by the protocol on a quarterly basis. If regulatory and collateral release requirements allow, then redemptions are processed via windows on a pro-rata basis. See the [Redemptions guide](/minting-and-redemptions/redemptions.md) for current thresholds, limits, and timing. ## 10. How is token price updated? At UTC 00:00 daily, the protocol recalculates the Net Asset Value (NAV) of reUSD and reUSDe: * The applicable daily yield is added to the token price. * Onchain oracle guardrails reject outsized changes: each automated update can move the price by at most 50 bps, and cumulative moves are capped at 200 bps per 2-week window (a limit that is immutable for this deployment). View current NAV and yield on the [metrics page](https://app.re.xyz/metrics) or through the canonical [`/apy` API endpoint](/products/api-reference.md#apy). ## 11. How do Re Points referrals work? Both sides get a 6% benefit, calculated differently: * If you **use** someone's link, your own daily points are multiplied by **1.06**. * If you **share** a link, you earn **bonus points equal to 6%** of each referred wallet's unboosted daily points. Those bonuses add if you refer more than one wallet. They do not multiply your own farming points. The referrer's 6% is extra points, not taken from the referred wallet. See [Referrals](/re-points/referrals.md) for the formula and a worked example. ## 12. Why can't I see the tokens in my wallet? If tokens aren't visible, you may need to add the token contract address manually. Use the address for the network your wallet is connected to: * [reUSD contract addresses](/products/smart-contracts.md#reusd) * [reUSDe contract addresses](/products/smart-contracts.md#reusde) *** *For educational and informational purposes only. Nothing on this Site is investment, financial, legal, or tax advice, or an offer, solicitation, or recommendation to buy, sell, or hold any digital asset, including reUSD and reUSDe. Yields are not guaranteed and all figures are illustrative, not a promise of return; past performance is not a reliable indicator of future results. Digital assets involve significant risk, including total loss of principal — the Tokens are not bank deposits and are not insured by any government agency. The Tokens are available only to eligible non-U.S. persons in permitted jurisdictions and are subject to KYC/AML requirements. The binding terms of the applicable agreements govern and prevail over this summary. See our full* [*Disclosures*](https://re.xyz/disclosure) *for important additional information.*