# What Is Re Protocol reUSD (REUSD)? Fundamentals Explained (November 2026) **Author:** CoinStats AI **Published:** November 1, 2026 at 03:05 --- ## Coin Information - **Name:** Re Protocol reUSD (REUSD) - **Current Price:** $1.11 - **24h Change:** +0.17% --- > **TLDR** > • REUSD is a senior-tranche, yield-accruing token from Re, designed to rise in price rather than peg to $1. > • Offchain capital earns SOFR plus 250 basis points; onchain capital earns sUSDe's 7-day trailing yield plus 250 basis points. > • Re raised a $14 million seed round on 28 September 2022 from Tribe Capital, Exor, and Framework. > • On 25 August 2026, a wallet manipulation on Pendle caused $36.4M in liquidations; core reUSD contracts were not compromised. > • Total deposits crossed $300 million by late September 2026, with TVL at $581.13M at the end of July 2026. Asking what is Re Protocol reUSD leads to a senior-tranche, yield-accruing token issued by Re, an onchain reinsurance protocol. Re describes [REUSD](https://coinstats.app/coins/re-protocol-reusd) as "a yield-accruing token built for stable, low-volatility returns" that "sits at the top of the capital stack." Third-party reviewers note that it is "not a stablecoin in the traditional sense," because its price is designed to rise over time rather than peg to $1. ## Core technology and architecture The protocol uses Insurance Capital Layers, which are smart contracts that receive stablecoin deposits and use them to collateralize quota-share reinsurance contracts with licensed insurers. Depositors can supply [USDC](https://coinstats.app/coins/usd-coin), [USDT](https://coinstats.app/coins/tether), USDe, or sUSDe and receive REUSD in return. Part of each deposit stays onchain for redemption liquidity, and the rest is deployed offchain as reinsurance collateral. A Chainlink Functions-based NAV oracle calculates and publishes the daily onchain price. Re's documentation lists Ethereum, Avalanche, Arbitrum, Base and Solana as deployment chains, with Solana live since 11 August 2026 and bridged from Ethereum via Chainlink CCIP. CoinStats also lists Ink and BNB Smart Chain. ### Yield and loss structure Offchain capital earns SOFR plus 250 basis points. Onchain capital earns the 7-day trailing average of the sUSDe yield rate plus 250 basis points. Onchain guardrails cap price movement at 50 basis points per oracle update and 200 basis points per two-week window. Underwriting losses are absorbed in a set order: first the reinsurer's own equity, then the mezzanine token reUSDe, then Re's accumulated capital and reserves, and only then REUSD. reUSD earns less than reUSDe, which carried an 8.5% spread versus reUSD's 2.5% as of August 2026. The sreUSD token that appears in some search results belongs to Resupply Protocol, a separate project. Sources reviewed do not document a Re-issued sreUSD product. ## Primary use cases - **Reinsurance exposure onchain.** Re presents REUSD as a way to earn returns derived from reinsurance premiums and reference rates. - **Collateral in DeFi lending.** REUSD is accepted as collateral on Pendle, Morpho, Silo Finance (Avalanche), Kamino and Jupiter Lend (Solana). - **Yield-bearing treasury holding.** Holders can hold a token whose price is designed to rise, rather than one held at a fixed peg. ## Who is behind Re Protocol reUSD and where is it based? **Founders and team.** Karn Saroya is identified as CEO and co-founder of Re. Preqin states that Re was "founded in 2022 by Cliff White and Karn Saroya as CEO," and Anand Dhillon is listed as a co-founder by Crunchbase and LinkedIn. Saroya previously co-founded the insurtech Cover, which was wound down in 2022. The sources do not give current titles for other team members. **Founding and history.** Most sources give 2022 as the founding year, although Tracxn gives 2021 without explanation. Re raised a $14 million seed round on 28 September 2022 from investors including Tribe Capital, Exor and Framework. Its protocol was built on Avalanche at launch. **Location.** Founder profiles list San Francisco, California, as the team's location. Re's legal entities are in the Cayman Islands and the British Virgin Islands, and sources conflict on the country of operation. **Legal entities.** - Resilience Foundation Company, a Cayman Islands exempted limited guarantee foundation company (registration IC-414560), operates the protocol and website. Some Re materials name it Resilience Foundation Cayman LLC. - Resilience (BVI) Ltd is an affiliate and the token issuer for REUSD and reUSDe. - Cover Reinsurance SPC Ltd, a Cayman Islands licensed exempted segregated portfolio company, conducts all regulated reinsurance. Re's stated investors include Coinbase Ventures, which invested in June 2026. The amount was not disclosed. ## Tokenomics CoinStats lists a total supply of 334,673,523 REUSD and a circulating supply of 9,652 REUSD, with a market cap of $371.28M (rank #174) and 24h volume of $5.67M. The price is $1.11, 0.06% below its all-time high of $1.11. No fixed inflation or deflation mechanism was identified for REUSD. Its supply changes with deposits and redemptions. The governance token $RE ($RE) has a fixed supply of 1,000,000,000 tokens with no ongoing emissions. It launched on 18 June 2026 as an ERC-20 on Ethereum. It carries no claim on Re's revenue or insurance flows. | Allocation | Share | Vesting | |---|---|---| | Ecosystem | 50% | 159.6M liquid at launch, remainder linear over 48 months | | Ecosystem Development Reserve | 13% | Long-term reserve | | Core Contributors | 20% | Multi-year vesting | | Investors | 17% | 12-month cliff, then 36-month linear vesting | ## Consensus mechanism and security model REUSD has no independent consensus mechanism. It is an EVM and Solana token that inherits security from its host chains, with cross-chain transfers handled through Chainlink CCIP. On 10 August 2026, admin control of the REUSD and reUSDe tokens moved from a 3-of-5 Governance Safe to a Timelock Controller. Yearn notes that DAO control has not yet been implemented, because admin authority still sits with a Timelock proposed by the same Governance Safe. **Audits.** Hacken audited the core contracts in August and November 2024 and the NAV oracle in 2025. Certora reported 0 critical and 0 high findings across 13 total findings, all remediated. Sherlock reviewed the NAV oracle in July 2026 with no High-severity findings. TID Research notes that the Hacken audit is about 21 months old relative to the live logic. **Incident.** On 25 August 2026, an anonymous wallet manipulated the PT-reUSD time-weighted average price on Pendle, causing $36.4M in liquidations. Yearn reports that the reUSD token and core contracts were not compromised, and the attack was attributed to Pendle's market design and Morpho's oracle configuration. ## Key partnerships and ecosystem integrations - **Pendle and Morpho.** REUSD liquidity on Pendle surpassed $10M in November 2025. Yearn lists Re vaults on Morpho at roughly $15.45M combined. - **Silo Finance.** REUSD became collateral on Silo's Avalanche market on 22 October 2025. - **Solana.** Markets are live on Kamino and Jupiter Lend. - **Coinbase Ventures.** Investment announced in June 2026. Sources did not confirm an integration with Euler or Curve for Re's REUSD. Curve pools that include reUSD belong to Resupply's token. ## Competitive advantages and unique value proposition - **Tranching.** Losses hit Re's junior capital and reUSDe before REUSD, which gives the senior tranche a buffer. - **Regulated backing.** Underwriting is conducted by a licensed reinsurer, and offchain capital is held in Regulation 114 trusts for ceding insurers. - **Composability.** REUSD is used as collateral across several major lending and yield venues on Ethereum, Avalanche and Solana. - **Scale.** Re reports $500 million in premiums written to date. ## Current development activity and roadmap Total deposits crossed $300 million by late September 2026. TVL reached $581.13M at the end of July 2026. Solana went live on 11 August 2026. The $RE governance phase one covers stake-to-vote governance, delegation and protocol upgrades. Re's stated plans include expanding underwriting capacity and growing the protocol team, funded partly by the Coinbase Ventures investment. The sources do not publish a dated roadmap beyond these items. **Sources:** - [About reUSD](https://docs.re.xyz/products/about-reusd) - [Re Protocol's Token Suite, Explained](https://re.xyz/insights/re-protocol-token-suite-explained) - [reUSD Live on Solana](https://re.xyz/insights/reusd-live-on-solana) - [$RE Tokenomics](https://docs.re.xyz/governance-and-tokenomics/re-tokenomics) - [Re Insights: TGE Launch](https://re.xyz/insights/re-tge-launch) - [Yearn Curation report: Re Protocol reUSD](https://curation.yearn.fi/report/re-reusd) - [Sherlock Review: Auditing the Oracle](https://re.xyz/insights/auditing-the-oracle-sherlock-review) - [Why Re Audits Every Line](https://re.xyz/insights/why-re-audits-every-line-our-security-first-infrastructure) - [Re Legal Disclosures](https://re.xyz/disclosure) - [Re Insights: Pendle and Morpho](https://re.xyz/insights/reusd-liquidity-surpasses-10m-on-pendle-and-now-expands-to-morpho) - [Re Insights: Silo Finance](https://re.xyz/insights/reusd-is-now-live-as-collateral-on-silo-finance) - [Re Insights: Coinbase Ventures](https://re.xyz/insights/coinbase-invests) - [Reinsurance News: Coinbase Ventures](https://www.reinsurancene.ws/onchain-protocol-re-secures-strategic-investment-from-coinbase-ventures/) - [CoinDesk: Blockchain-Powered Reinsurer Re Raises $14 Million](https://www.coindesk.com/business/2022/09/28/blockchain-powered-reinsurer-re-raises-14-million-seed-round-to-build-decentralized-market) - [TID Research: reUSD Risk Assessment](https://tidresearch.com/reports/reusd-re) --- ## More on Re Protocol reUSD - [Is Re Protocol reUSD (REUSD) a good investment?](https://coinstats.app/ai/a/investment-analysis-re-protocol-reusd) - [What are the key Re Protocol reUSD (REUSD) support and resistance levels today?](https://coinstats.app/ai/a/latest-news-for-re-protocol-reusd) --- ## Related Questions - What caused the 25 August 2026 Pendle manipulation and how was it resolved? - How does the NAV oracle's Chainlink Functions mechanism calculate the daily REUSD price? - What are the specific risks of holding REUSD compared to traditional stablecoins like USDC? --- ## Related Coins ### Virtuals Protocol (VIRTUAL) - What is the Virtuals Protocol (VIRTUAL) price prediction for 2026-2030? - What is the latest Virtuals Protocol (VIRTUAL) news today? - Why is Virtuals Protocol (VIRTUAL) price down today? - What is the Virtuals Protocol (VIRTUAL) market sentiment today? - What are the key Virtuals Protocol (VIRTUAL) support and resistance levels today? - Is Virtuals Protocol (VIRTUAL) a good investment? - What is Virtuals Protocol (VIRTUAL) crypto? ### Artificial Superintelligence Alliance (FET) - What is the Artificial Superintelligence Alliance (FET) price prediction for 2026-2030? - What is the latest Artificial Superintelligence Alliance (FET) news today? - Why is Artificial Superintelligence Alliance (FET) price down today? - What is the Artificial Superintelligence Alliance (FET) market sentiment today? - What are the key Artificial Superintelligence Alliance (FET) support and resistance levels today? - Is Artificial Superintelligence Alliance (FET) a good investment? - What is Artificial Superintelligence Alliance (FET) crypto? --- *This article was generated by [CoinStats AI](https://coinstats.app/ai)*