Reflect Launches Independent Voluntary Recovery Plan for USDC+ Holders Affected by Drift (Velocity) Hack

Stablecoin protocol Reflect announces an independent voluntary recovery plan for USDC+ position holders affected by the April hack of Drift (now Velocity). The plan offers a 180-day window, allowing holders to sell their positions to Palindrome Engineering at 0.20 USDC + 80 Reflect Credit (RC) per unit, with full on-chain settlement. Participants must waive claims on Drift in exchange for immediate liquidity; non-participants can still support Drift's DFX recovery channel. Palindrome has pre-funded the plan, which is completely independent of Drift's own recovery process.