Re (Re Protocol) (RE) is the governance token of Re, a decentralized reinsurance marketplace operating on Ethereum (ERC-20).
The protocol connects capital providers with real-world insurance and reinsurance risk, working alongside licensed underwriting partners rather than underwriting risk itself on-chain. RE was deployed on-chain on 2026-05-14, with public trading beginning at its Token Generation Event on June 18, 2026. RE trades near $0.47.
Re differentiates itself by tokenizing governance over an operating, real-world reinsurance business rather than a purely on-chain insurance protocol.
RE holders govern the protocol's policy layer while regulated underwriting remains legally separate.
RE is a governance token: staking RE grants holders voting rights over the Re protocol's policy layer.
Stakers can submit proposals, delegate voting power, serve on governance committees, and perform attestation functions, subject to lockup periods and slashing conditions for misbehavior. Governance authority covers smart-contract upgrades, technical permissions, staking and bonding mechanics, committee formation, and transparency and reporting standards. It does not extend to underwriting, claims handling, or pricing decisions, which remain with licensed insurance entities.
RE has a fixed maximum supply of 1,000,000,000 tokens, with no ongoing inflationary or perpetual emissions.
Because total supply is capped, net emission is disinflationary as locked tranches unlock toward the fixed 1 billion ceiling.
Re raised a $14 million seed round in September 2022, with participation from Tribe Capital, Framework Ventures, Morgan Creek Digital, SiriusPoint, Defy, Exor, and Stratos.
The RE token was deployed on-chain on 2026-05-14, ahead of its public Token Generation Event on June 18, 2026, when it became freely transferable on Ethereum and listed on exchanges including Binance, Robinhood, OKX, Bybit, and KuCoin. Coinbase Ventures later made a strategic investment in the project.
RE is deployed as an ERC-20 token on Ethereum, which uses proof-of-stake consensus secured by validators staking ETH.
Re does not operate its own blockchain or validator set; it relies entirely on Ethereum mainnet for token issuance, transfers, and settlement.
Re was founded by Karn Saroya, who previously co-founded insurtech platform Cover and the fashion app Stylekick, which was acquired by Shopify.
Other named co-founders include Anand Dhillon, Arjun Sethi, Ben Aneesh, and Cliff White.
The RE token, the re.xyz brand, and the Re Protocol are issued and operated by Resilience Foundation Cayman LLC, an Exempted Limited Guarantee Foundation Company incorporated in the Cayman Islands.
Actual reinsurance underwriting is carried out by an affiliated but legally distinct operating partner, Cover Re SPC Ltd., also Cayman Islands-domiciled and regulated by the Cayman Islands Monetary Authority (CIMA). Token governance is kept separate from this regulated insurance business by design.
Re is governed by RE stakers, who vote, submit proposals, delegate, and serve on committees, subject to lockup periods and slashing conditions.
Governance authority covers smart-contract upgrades, technical permissions, staking and bonding mechanics, committee formation, and reporting standards. It explicitly excludes underwriting, claims handling, pricing, and reserve decisions, which remain with Cover Re SPC and other licensed insurance entities.
Re's near-term priority is scaling real-world premium volume following its 2026 token launch.
Following a strategic investment from Coinbase Ventures, the project has stated a target of approximately $400 million in new insurance business for the year and an annualized premium run-rate of roughly $1 billion by early 2027.
Re's smart contracts have undergone two confirmed third-party audits.
The top 10 addresses hold about 97% of RE supply, largely reflecting locked treasury and vesting contracts rather than free-float concentration. Liquidity risk is separately flagged as high, with decentralized exchange liquidity equal to only about 0.08% of market capitalization.