Reflect Launches Independent Recovery Plan for USDC+ Holders Affected by Drift Hack

Stablecoin protocol Reflect has announced an independent voluntary recovery plan for USDC+ position holders affected by the April hack on Drift (now Velocity). The plan provides a 180-day window for holders to sell their positions to Palindrome Engineering at a price of 0.20 USDC + 80 Reflect Credit (RC) per unit, settled entirely on-chain. Participation requires waiving claims against Drift in exchange for immediate deterministic liquidity, while non-participants may still support Drift's DFX recovery channel. The plan is fully prefunded by Palindrome and independent from Drift's own recovery process.