alkemx

Drift published their recovery plan today, and we wanted to move quickly to give USDC+ beta holders clarity on what it means from the Reflect side. If you held USDC+ at the time of the April 1 exploit, the most important thing to understand is that your path to claiming looks different from a direct Drift depositor. USDC+ holders don't have individual Drift accounts in their snapshot. Reflect's vaults were the depositing addresses, which means when Drift issues recovery tokens, they are allocated to Reflect first and need to flow downstream to the people who actually held the position. We anticipated this early, and we've had a claims portal designed and ready to bridge that gap, so that USDC+ holders can redeem for the Drift recovery token through Reflect without ever needing to interact with Drift directly. When their claim window opens, targeted for Q2 2026, we plan to be live as early as possible so there are no unnecessary delays on our end. USDC+ is how you access your claim, with the portal mapping your holdings to a proportional share of recovery tokens based on the snapshot taken at protocol pause on April 1. We are in regular contact with the Drift team and actively engaging on the governance decisions ahead that affect downstream protocols. Since April 1, this team has been focused on one thing: making sure that when the recovery path opens, every affected USDC+ beta user has a clear, fast, and informed route to their claim. We believe that ecosystem collaboration matters most in moments like this, and our priority is achieving the strongest possible outcome for the people affected. That means more than just passing through a recovery token. We expect to share more on what that looks like in the coming weeks, and we want to thank everyone who has been patient with us while we've worked through this. It has not gone unnoticed. The full details of how Drift's recovery token works, how the recovery pool is funded over time, and what the trade-offs around early versus later redemption look like are all covered in their post. We'd encourage reading it carefully. Link below.

I know a number of British people who lived 1 to 2 years in Italy and then came back. The constant is that they have young children. Whatever they tell you, if you ask them about the Italian school system, they will eventually admit that it was, if not the main one, one of the critical items for them. Italian primary school is much harder than the British one. An awful lot of Italian parents cope with that by literally abandoning their children to their own devices. Most take a more proactive stance, so they either start tutoring their children themselves (a couple of hours a day per child starting in year 1) or pay for tutors to do it in their stead. In primary school, British kids have homework once per week. Italian kids have homework once per day, doubled over the weekend. If you visit Italian homes in the afternoon and they have children, it is pretty standard to see the kids sitting at the main table with books and notebooks spread all around, with a parent or a tutor sitting with them for the whole session. Also, the amount of books they have to carry to school every day is borderline unbelievable. You would think they are training them to carry legionary backpacks. For people accustomed to the gentle British primary schooling, the Italian system feels borderline insane. Note also that it has massively eased up: in my childhood, we had to memorise a long poem every weekend (which back then meant Sunday, as Saturday was school day). h/t @GroovySciFi

@0xNIC0 @reflectmoney Good luck mate 🙏 I know you guys will pull through

A week in, and I want to speak directly. We put out an official update from @reflectmoney earlier this week. If you haven't read it, please do. What follows here is personal, not an official statement from Reflect. It's how I'm thinking about this, and what you should expect from me going forward. I'm not going to dress this up. This week has been rough. I know it's been rough for some of you too. And I know that nothing I write here fixes that. I started Reflect because I believe deeply in what this infrastructure can be. That conviction hasn't changed. If anything, this week has sharpened it. But I also understand that, on my end, conviction means very little right now if you're sitting there wondering what happens next. So let me be straightforward about where things stand rather than ask you to take my word for anything. The situation across the ecosystem is still developing, and the team is monitoring every part of it closely. Drift today publicly acknowledged the impact this has had on builders who integrated with them. I can't give you a timeline or a guarantee right now, and I'm not going to pretend otherwise. This space has a pattern of promises made in the heat of the moment that quietly disappear weeks later. I refuse to add to that. As developments relevant to affected USDC+ holders arise, including through our ongoing contact with Drift and counsel, we will communicate them clearly and promptly. I know the pause on USDC+ is frustrating, and I know that waiting without a clear picture is harder than most things in this space. Any changes to its status will be communicated as part of these updates. I want to acknowledge the people who have reached out this week. Some of you have had hard questions. Some of you are frustrated. Some of you are angry. All of that is completely understandable. But many of you have also reached out with support, with patience, and with genuine belief in this team. I don't take that lightly. I appreciate all of it, and it matters more than you know. I'd rather be straight with you about where things are than give you something that sounds good today and falls apart tomorrow. That's not how I operate, and it's not how this team operates. If you've followed this journey from the start, you know that. If you're new and still figuring out whether we're the kind of team that shows up when it matters, I understand. Watch what we do next. I think about the people affected every day. That hasn't left my mind once this week and it won't going forward. The team is working on this every single day, and I'll continue sharing my perspective here as things develop. Official updates will continue to come through @reflectmoney and my own account.

@corce21 @reflectmoney I'm in the same position

@reflectmoney I had an open position in the PT-USDC+ loop on the loopscale and I was liquidated.. Is this safe too?

@bonk_inu Bonk

BONK Say it back (If you can)

Said it would happen. Now all custodial stablecoin issuers will no longer be able to offer yield. No more CEX based delta neutrals, off chain hedge fund vaults, no more “give us your capital and we passively earn for you” If it’s not DeFi, it’s not allowed. 🤝🎉🥳🍾

Most crypto tax tools want your credit card before they show you anything. Netrunner shows you everything first. Covering 30,000 transactions. Every swap, airdrop, LP, and perps position, already indexed and automatically labeled. Sometimes, knowing what you owe is the hardest part. Our Free Tier gets you there in minutes.

Fwiw not a local bottom till @SOLBigBrain tweets screenshots

@NetrunnerTax is going above and beyond. I love it!

Join me on @reflectmoney. Use the code: L86CCOJ0 happy New Year y'all! alpha.reflect.money/invite/code/L8…

I've got a few codes to share for this amazing project @reflectmoney. Check them out, winner of Colosseum, part of USDC alliance and backed by @a16zcrypto 👀. G5KE1SN1 GG64KHN6 RLZWAZVP

@mangusxbt @reflectmoney @0xNIC0 @stablecoinjesus I've got a few codes to share! G5KE1SN1 GG64KHN6 RLZWAZVP

New Solana project no one talks about > Points system just launched > Less than $10M TVL Get in before it's too late 👇🧵

Netrunner V2 Private Beta is live at 50% off for a limited time! You can now enjoy Netrunner for just 0.5 SOL with your first subscription, valid until the end of 2026. Follow the instructions below for less stress, and more progress. 👇

For solana 👨🏽‍🍳 $dark @toly @solana

I you h grass for ~1 month and the whole CT goes crazy because of a fast pullback. Prices are already recovering well 🤷 Too much leverage gamblers around. Slow and steady lads

gm ☕️ monthly payout from @trulyhonestwork today and DD portfolio ATH

We're out of stealth and onto the race track!🏇 This marks the first time @a16zcrypto CSX has become involved with DeFi on @solana, a validation of the growth and demand for financial primitives on the network. more detailed founders v/blog tomorrow ☺️ 🚢🚢🚢

@zachxbt How are these people getting paid to post and I can't even get a text back

NEW LEAK: Price sheet of 200+ crypto influencers and their wallet addresses from a project they were recently contacted by to promote. From 160+ accounts who accepted the deal I only saw <5 accounts actually disclose the promotional posts as an advertisement.

ENGINE IS READY... 🚦✨

@S1net_SOL @SharpTradeFi It feels great mate! Never left. Just lurking in the shadows and placing bets here and there! I hope you're good mate!

@alkemx @SharpTradeFi Omg, it has been truly a while! Happy to see you printed some $SOL, how does it feel OG? 😁

It's been a while but I predict and earned with Sharp Predictions! Join me by the link app.sharptrade.fi/predict/SOL-SO… @SharpTradeFi