Re Protocol is an on-chain protocol for connecting digital asset capital with reinsurance markets. Its system lets eligible users deposit stablecoins into Insurance Capital Layers, which then allocate capital to fully collateralised quota-share reinsurance contracts through licensed insurers. Users receive protocol assets such as reUSD or reUSDe, while RE is the protocol’s ERC-20 governance token.

The RE token is designed for participation in protocol governance. It is issued as an ERC-20 token on Ethereum and does not represent equity, debt, profit-sharing rights, dividends or claims on Re’s revenue, insurance flows, reserves or assets.

RE is used for governance of the Re Protocol. Token holders can take part in setting protocol rules, with voting planned through an on-chain governance portal. The governance scope is being rolled out in phases and is expected to cover areas such as protocol upgrades, technical permissions, committees and reporting standards.

Re separates governance from underwriting decisions. Individual underwriting decisions remain with licensed carriers and accountable underwriters, while RE governance is intended to cover the framework around market participation, standards, upgrades, shared resilience capital and disclosure.

Separately, Re Protocol’s capital products, including reUSD and reUSDe, are used by eligible participants to supply capital into Insurance Capital Layers. reUSD is a yield-accruing USD-denominated token, while reUSDe is designed as a junior, profit-sharing tranche with more exposure to reinsurance underwriting outcomes.