> 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/res-products.md).
# Re's products
Re Protocol deposits user capital in two token forms: reUSD and reUSDe.
Here's how each of them and the system at large work.
## reUSD
It rests at the top of Re's capital stack, meaning losses are first absorbed by reUSDe and by Re's own accumulated capital and reserves before they reach reUSD. This provides a substantial buffer, so that only in severe scenarios that exhaust lower layers of capital is reUSD exposed to such losses.
reUSD deposits are split between onchain liquidity and offchain collateral deployment.
* At least 50% of the high-water mark remains onchain as redemption liquidity, primarily in sUSDe, with some USDC, USDe, or other assets temporarily held depending on what users mint with. All of those are ultimately converted into sUSDe.
* The remainder (up to 50%) is moved offchain into 114 trust accounts to serve as collateral that allows Re to write reinsurance contracts.
reUSD earns a blended yield based on how protocol capital is proportionally deployed:
* **Off-protocol capital** (deployed to the reinsurance company) earns at the **SOFR rate + 250 bps (2.5%).**
* **On-chain capital** (held within the protocol) earns at the **7-day trailing average sUSDe basis trade rate + 250bps.**
reUSD is available for instant redemption, provided the presence of sufficient liquidity.
Visit the [Re App](https://app.re.xyz/) to view reUSD's current target yield.
## reUSDe
reUSDe takes on more risk in exchange for higher yield potential. It absorbs losses before and earns returns after reUSD.
Rather than being split between onchain liquidity and offchain collateral, reUSDe is ultimately all moved into 114 trusts for deployment as collateral.
reUSDe earns:
* **SOFR** **+ 850 bps (8.5%)** (versus 250 bps for reUSD), sourced entirely from regulated insurance underwriting activities.
Decisions on whether reUSDe can support a redemption are made on a quarterly basis. This decision is made based on regulatory collateral requirements and contract collateral release. Redemption windows will be announced via Re's X account and official Discord server.\
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Visit the [Re App](https://app.re.xyz/) to view reUSDe's current target yield.
## How risk is handled
If the reinsurance policies take a loss and claims exceed expectations, Re's capital and reserves and reUSDe (the mezzanine layer) absorb those losses first. Because reUSD (the senior layer) is explicitly designed for users seeking yield with lower risk exposure within the capital structure, its capital is the last to be impacted.
The layered system allows you to customize your exposure. You can opt for the remoteness to loss of reUSD, the higher yield potential but higher risk of reUSDe, or a diversified strategy by holding a mix of both.
## Metrics
For real-time statistics and metrics, including TVL, redemption capacity, daily token price and supply, reserves, and reinsurance treaty performance, and a list of completed audits by firms like Hacken and Certora, please visit [app.re.xyz](https://app.re.xyz/).\
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*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.*