Ethena x Re $USDe / $sUSDe of @ethena_labs can now be deposited to @re What is Re? - 'Reinsurance' RWA Protocol - $21M investment from Electric Capital, Framework, and others - TVL $135M (but not tracked on @DefiLlama yet) - Website claims to offer additional interest of up to 23%. - KYC required for deposits - 40 days lockup on deposits According to the docs, the deposited assets are invested in risk pools that invest in various reinsurance contracts and earn interest based on fees and premiums. First of all, the current contract is with Ethena, which seems to insure Ethena's assets. Other reinsurances in the real world, such as vehicle insurance, liability insurance, and property insurance, seem to be the original targets. The surplus assets that are not used for insurance earn interest at $sUSDe for $USDe / $sUSDe, and the rest of the general stable is invested in assets that generate the highest interest at their own discretion. In addition, they select reinsurance contracts to earn stabilized interest by excluding catastrophic risk contracts such as fires and typhoons. It seems like a pretty interesting project. I don't know much about the yield or stability of the reinsurance field, but I remember when I interviewed for my first job at the Korean reinsurance company "Korean Re" (wow the name Re is becoming interesting now), it was a very profitable and stabilized sector. Of course, if there is a disaster-level accident due to a wrong contract, you may lose money. Let's dig down more as it goes!