Tranches

Seniors are paid first. Juniors lose first and earn more.

TranchedPools split into a senior slice paid first and a junior slice that loses first.

$603M$603,376,143 Tranche contracts, read onchain · 10 Nov, 08:03 UTC
net of $9.1M$9,070,625 InfiniFi · 10 Nov, 08:03 UTC counted in both Re and infiniFi

Senior · Junior

$547M$547,231,685 Tranche contracts, read onchain · 10 Nov, 08:03 UTC$56.1M$56,143,769 Tranche contracts, read onchain · 10 Nov, 08:03 UTC

Seniors surviveHow much of the pool can be lost before seniors lose anything.

≥9.3%9.3049% Tranche contracts, read onchain · 10 Nov, 08:03 UTC
loss on all pools, by dollars

Locked juniorJunior money that cannot leave within 30 days. An exit of exactly 30 days counts.

87%86.9808% Tranche contracts, read onchain · 10 Nov, 08:03 UTC
$48.8M$48,834,291 Tranche contracts, read onchain · 10 Nov, 08:03 UTC can’t exit in 30 days
ReinsuranceReceivablesMixedLoansHollowpools under $1M
5%6%7%8%9%0%10%20%30%x: seniors survive → · y: senior yieldRe3JaneinfiniFiStrata PRIME · 72% →Strata nOPAL · 74% →
About this data

Bubble size = pool size. Not plotted, no yield to compare: Pareto, Mezzanine, Reflect syrupUSDC, Reflect PRIME.

Source: Tranche contracts, read onchain.

Pools

4 pools
PoolSizeSeniors surviveHow much of the pool can be lost before seniors lose anything.SeniorRealized yield over 30 days, shown as a yearly rate.JuniorRealized yield over 30 days, shown as a yearly rate.Junior exitHow a junior holder gets out.
$806.6K$806,558 ≥95.2%95.2295% —6.57%6.5677% 7-day cooldown + 1–30 days
infiniFi siUSD / liUSD
57% private credit (45% loans + 12% Re)
$75.9M$75,939,032 20.2%20.181% 6.70%6.6965% 9.40%9.399% 1–13 week lock

Capital stack · loses first →

liUSD
$15.3M
siUSD
$60.6M

$3.0K held beyond what the tokens claim. Not counted as protection.

Loss test

Junior
−25%
Senior
0%

Contracts and terms ↗

$414M$413,766,111 ≥7.1%7.1437% 7.10%7.0957% 12.55%12.5455% Quarterly window
$115M$115,005,029 ≥7.4%7.4061% 6.56%6.5563% 13.89%13.8879% 30-day cooldown
4 of 4
About this data

Size: every layer at its own exchange rate, in USD. Re’s reUSD counts every chain. Seniors survive: junior, middle and onchain cover, divided by the pool. “≥” means a layer cannot be read: Re’s own capital, Pareto’s Stability Fund.

Holdings beyond what the tokens claim are shown when a row opens and never count as protection. Re’s “implied” capital is its reserves less its tokens, and is left out of every calculation.

Source: Tranche contracts, read onchain. An orange dot means one of the data checks on that pool is not passing.