Re Protocol functions as an onchain capital market that links stablecoin funding to regulated, fully collateralized reinsurance. This mechanism enables insurance firms to offload parts of their risk to specialized insurers, allowing them to manage significant losses and maintain coverage capabilities.

By merging licensed insurance frameworks with programmable capital infrastructure, the protocol ensures that deployed capital backs actual reinsurance treaties. Simultaneously, it provides transparency by making reserve data, attestations, and capital flows accessible via onchain systems. The platform offers products such as reUSD and reUSDe, which are distinct from the RE governance token.

RE serves as the token for governance, coordination, and security within Re Protocol.

The RE token is designed to facilitate:

• Governance voting on matters such as protocol upgrades, governance parameters, technical permissions, committee structures, and transparency standards.
• Staking or bonding for eligible participants who engage in activities like voting, submitting proposals, serving as delegates, joining committees, or fulfilling other protocol roles.
• Accountability measures where bonded tokens can face lockups, cooldown periods, and slashing penalties for specified misconduct.

Possessing RE does not grant equity, debt, ownership, revenue sharing, or any claim to insurance premiums, underwriting profits, reserves, collateral, or treasury assets. Regulated functions, including insurance underwriting, claims handling, and pricing, continue to be managed by licensed entities and professional operators.

The total supply of RE is capped at 1 billion tokens. The protocol does not feature continuous inflation or endless emissions. Instead, the circulating supply depends on tokens that have been distributed and unlocked according to authorized vesting and allocation plans. Allocations for the team and investors are subject to vesting schedules, meaning they do not enter full circulation immediately upon launch.

Karn Saroya, the current chief executive officer, established Re. Before this, he co-founded Cover, a Y Combinator-backed insurance technology firm, and gained experience developing infrastructure for insurance markets. The protocol receives support from the Resilience Foundation and its affiliated operating partners, which handle regulated reinsurance, administrative, and protocol functions through distinct legal entities.

Re focuses exclusively on insurance risk, distinguishing itself from platforms dealing with tokenized government debt, wrapped crypto yield, or unsecured lending. It links onchain capital to fully collateralized reinsurance programs that involve licensed carriers and actual policyholder risk.

The protocol employs institutional custody, role-separated authorization, reserve attestations, and public reporting. According to Re, its ecosystem has supported over 30 insurance partners and provided reinsurance for more than one million U.S. policyholders. External firms such as Hacken, Certora, and The Network Firm have audited its smart-contract and operational systems.

Re (RE) is an ERC-20 token on Ethereum that depends on the network’s Proof-of-Stake consensus to settle transactions. The protocol employs smart-contract safeguards, multi-party authorization, upgrade timelocks, emergency protocols, institutional custody via Fireblocks, and reserve reporting powered by Chainlink. According to the team, these measures aim to lower risks related to smart contracts, custody, oracles, and operations, though they do not remove them entirely. Additionally, accessing certain Re products or governance features may necessitate KYC or KYB checks and could be limited based on jurisdiction.