Performance Update:
September 2026
Dear Members,
September brought two more major milestones for Re: total deposits across reUSD and reUSDe passed $300 million, and cumulative yield generated for holders exceeded $10 million.
The month also brought continued expansion on both sides of the business. Re added three new lines of business to its reinsurance portfolio, while reUSD added new markets across Exponent and Fluid.
Capital Position & Liquidity
All figures reflect the September 30, 2026, reporting snapshot unless otherwise noted. Past performance is not a reliable indicator of future results.
Re’s TVL stood at $712.25 million on September 30, an increase of 9.8% over August.
As of the reporting period, TVL was composed as follows:
(Reflects contracted premium receivable on policies bound as of the reporting date. Actual receipts may vary based on policy performance, cessions, and other factors.)
As in August, capital growth was driven primarily by large-scale gains in reUSD deposits.
Deposits Passed $300 Million
August was marked by strong growth in total deposits. September saw that trend continue. Total deposits across reUSD and reUSDe increased from $256.4 million at the end of August to $318.4 million at the end of September, a gain of $62.0 million (24.2%).
The increase was driven in its vast majority by deposits in reUSD, which grew from $236.4 million to $297.8 million. reUSDe deposits increased from $20.0 million to $20.6 million.
Total deposits measure the combined value of all reUSD and reUSDe in circulation. Unlike TVL, the figure excludes premium receivable and capital held outside the circulating token supply.
Total Yield Generated Exceeded $10 Million
September included another milestone: cumulative yield generated for reUSD and reUSDe holders passed the $10 million mark.
Both tokens accrue yield through increases in NAV. Yield is primarily driven by licensed reinsurance activity.
Deposits measure the capital users have brought into the protocol; cumulative yield provides a separate measure of what that capital has generated for holders over time.
Portfolio Composition
Re added three new treaties during September, expanding Re’s underwriting portfolio into three additional areas of business:
insurance for business vehicles and fleets with specialized risks that may not fit standard commercial auto coverage
insurance covering business risks such as professional mistakes, management decisions, and other liabilities faced by startups
insurance for very large liability claims against businesses, including major accidents, injuries, and lawsuits
The new treaties brought inception-to-date bound premium to $510.6 million.
The addition of new categories further diversifies Re’s portfolio. Greater diversification reduces the chances that losses in any one area will coincide with losses elsewhere, limiting the impact that poor performance in any single category of business can have on the portfolio as a whole.
Though these new lines involve longer-duration risks, they make up only a small share of Re’s portfolio. Underwriting strategy continues to favor two primary characteristics: shorter-duration risks, and contracts that only begin paying after losses cross a meaningful threshold. This strategy is intended to help guard against losses and emphasize consistency in underwriting performance.
Ecosystem Expansion
September also brought additions to reUSD markets.
A December 2026 reUSD market went live on Exponent, including PT-reUSD for fixed-rate exposure through maturity, plus YT-reUSD and a reUSD liquidity pool.
Re expanded its reUSD integration with Fluid on Arbitrum. New vaults went live for reUSD/USDC, reUSD/USDT, and reUSD-USDC LP/USDC.
$RE Token Activity
Per the standard ecosystem release schedule, 7.09 million $RE unlocked from the ecosystem allocation on September 18.
$RE has a fixed maximum supply of one billion tokens, with no ongoing inflation or perpetual emissions.
ecosystem allocation · September 18
no ongoing inflation
What’s Next
October 1 saw the opening of the second reUSDe redemption window. Redemption requests will be accepted through October 14, with redemptions claimable from October 15 through November 14.
We look forward to delivering our next update in November.
— Re Management Team
Disclosures
For educational and informational purposes only. Nothing in this post 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 (together, the “Tokens”). No advisory or fiduciary relationship is created by this post; readers should consult qualified legal, tax, and financial professionals before making any decision. Yields are variable, not guaranteed, and may change at any time. Past performance is not a reliable indicator of future results. Digital assets and blockchain-based products involve significant risk, including total loss of principal, market volatility, liquidity constraints, smart contract and protocol vulnerabilities, oracle and collateral risk, counterparty risk, and regulatory uncertainty. The Tokens are not bank deposits, are not FDIC insured, and are not insured by any government agency or protected by any deposit guarantee or policyholder protection scheme. The “re” brand, the re protocol, and re.xyz are operated by Resilience Foundation Cayman LLC (“Resilience Foundation”), an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands with Limited Liability with registered number IC-414560, together with its affiliates Resilience (BVI) Ltd and Resilience Inv SPC. Resilience Foundation, Resilience BVI, and Resilience Inv do not provide insurance or reinsurance services, do not act as insurance broker or agent, and do not hold an insurance license. All regulated reinsurance activities are conducted exclusively by Cover Reinsurance SPC Ltd. (“Cover Re SPC”), a Class B(iii) licensed exempted segregated portfolio company in the Cayman Islands, operating under the “Cover Re” brand at coverre.com. Holding a Token does not make you an insured, policyholder, or beneficiary of any insurer or reinsurer.
The Tokens are available only to eligible non-U.S. persons (as defined under Regulation S of the U.S. Securities Act of 1933) in permitted jurisdictions and are subject to KYC/AML and sanctions screening requirements. Use by U.S. persons or residents, or by persons in any prohibited jurisdiction, is strictly prohibited, and this post is not directed at, and is not an offer or solicitation to, any such person. The Tokens may be classified as securities in certain jurisdictions, and participation is subject to eligibility requirements, KYC/AML verification, and jurisdiction-specific restrictions. Third-party websites, data, and services referenced are provided for convenience only and are not endorsed, verified, or controlled by us.
The binding terms of the applicable agreements, including the Terms of Service and, where applicable, the Claims Portal Terms and Conditions, govern and prevail over this summary, which amends nothing in them. See our full Disclosure and Terms of Service at re.xyz/disclosure for important additional information.
$RE is the governance token of the re protocol, issued by Resilience Foundation. It is a governance instrument, not an investment, and confers no equity, debt, dividend, profit-sharing, or fee rights and no claim on any revenue, premiums, reserves, collateral, deposits, or treasury. Governance functionality is subject to change. Staking and bonding rewards are protocol-defined, subject to terms, and are not guaranteed yield, dividends, or a profit share; lockups, cooldowns, and slashing may apply. Availability is subject to jurisdiction-specific restrictions and to eligibility, KYC, and AML requirements. Verify the official contract address before transacting.