Reflect Announces Recovery Plan for USDC+ Holders Affected by Drift Hack Incident
BlockBeats News, July 2nd, the a16z-backed stablecoin protocol Reflect announced a voluntary recovery plan for USDC+ holders affected by the Drift (now Velocity) April hack: starting today, a 180-day window is open for holders to voluntarily sell their positions to Palindrome Engineering at a price of 0.20 USDC + 80 Reflect Credit (RC) per unit, with full on-chain settlement. This plan, funded upfront by Palindrome, is completely separate from the Drift recovery process. Participation entails waiving any claims against Drift in exchange for immediate settlement liquidity; non-participants can still support Drift's DFX recovery channel.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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