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$USDC + HACK VICTIMS GET A RECOVERY WINDOW โ HERE'S THE CATCH ๐ฅ
BlockBeats reports that Reflect, the a16z-backed stablecoin protocol, just opened a 180-day window for those affected by the Drift hack. You can sell your position at 0.20 USDC plus 80 Reflect Credit per unit โ full on-chain settlement funded upfront by Palindrome Engineering.
This is separate from Drift's own recovery process. But note the trade-off: you waive claims against Drift in exchange for immediate liquidity. Non-participants can still back Drift's DFX channel.
The big question โ is 20 cents on the dollar worth it for you to exit now, or do you hold out for a better recovery?
Not financial advice. Always manage your risk.
#USDCplus #Stablecoin #Recovery #DeFi
๐ฅ
BlockBeats reports that Reflect, the a16z-backed stablecoin protocol, just opened a 180-day window for those affected by the Drift hack. You can sell your position at 0.20 USDC plus 80 Reflect Credit per unit โ full on-chain settlement funded upfront by Palindrome Engineering.
This is separate from Drift's own recovery process. But note the trade-off: you waive claims against Drift in exchange for immediate liquidity. Non-participants can still back Drift's DFX channel.
The big question โ is 20 cents on the dollar worth it for you to exit now, or do you hold out for a better recovery?
Not financial advice. Always manage your risk.
#USDCplus #Stablecoin #Recovery #DeFi
๐ฅ
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