Definaut

My first dashboard with @Dune Some basic data for @Hydrex: - Strategic Protocol Reserve balance - veHYDX buy/sell metrics - Top $HYDX holders Check it here 👉dune.com/arbinaut/hydrex

@0xNIC0 @DriftProtocol Good news 👍 Reflect and Solana will be back soon

Wow. Significant step forward for @DriftProtocol and all downstream affected parties, today accelerates a meaningful pathway to recovery. There is still a long road ahead and many things aren't clear yet, but we are on this day and night to get further clarity wrt USDC+. Inspiring to see @tether align with the Solana ecosystem, entering in a moment where many others wouldn't and with heavy conviction.

@Usoppu Yep, around $1000. I mainly buy YT so it didn't cost me too much

@definautcom Darn is that your rank? How much you had in it

my $5000 worth of stablecoin is now worth basically nothing 🥲

@0xNIC0 @reflectmoney Whatever happens, I hope you and your team can overcome this difficult period. It may not be possible to fully recover the lost funds, but there may be other forms of support

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.

@0xvietnguyen It also depends on how you filter projects and the level of competition. I once earned 4-digit drop raffle from a project on Galxe. Zealy earns less but still good

Avoid projects that use these platforms Be smart broo

@0xNIC0 That's a shame, Nico. Hopefully you can find a solution to revive and continue developing Reflect

Update: WRT Drift Protocol Exploit On April 1st, an exploit occurred on an external integration Drift protocol that impacted the Reflect ecosystem. We understand the stress this brings to our community, and want to provide clarity on the situation. At no point was any Reflect system compromised. Our platform, smart contracts, and non-custodial software maintain full security and integrity. The Situation & Asset Impact Upon learning of the exploit on the Drift program, issuance and redemption of USDC+ and USDT+ were frozen. This was necessary because the redemption rate is programmatically protected by the Reflect protocol, and a freeze was required to uphold that mechanism's integrity. By the time the freeze took effect, the exploiter had already maximized borrow capacities across Drift markets. USDC+: During the current phase of the Reflect non-custodial software beta, USDC+ collateral was routed to the Drift protocol and has been directly impacted by this external exploit. USDT+: USDT+ collateral was never exposed to Drift, as it utilizes independent venues including Jupiter and Kamino lending markets. USDT+ is unaffected, and operations will resume shortly. Moving Forward We are working closely with legal counsel to understand the full scope of this situation and determine the best path forward for beta testers of the Reflect non-custodial software. Out of respect for ongoing investigations and legal protocols, we cannot speculate on specific outcomes or timelines. We are monitoring the investigation by the Drift team and relevant authorities, and will communicate any material progress with appropriate haste. Thank you for your patience as we navigate this. We appreciate the support from our community and the broader industry during this time.

@asyndefi @reflectmoney We're in the same boat bro 😅

Please just do not die before your TGE, @reflectmoney app.reflect.money/invite/address…

My daily task recently: - Go to @reflectmoney then check point added up - Go to @ExponentFinance, claim YT-USDC+ yield and use them to buy more YT-USDC+ - Repeat to see my rank higher

@0xvietnguyen Need add @vooi_io into this list Big scam from yzi lab

Scam projects (update): - Genome - Openmind - Perle Labs - Aztec - Space - Superform - Zama - Warden - Tria - Rainbow wallet - Layerbank - Space - Aleo - TROVE - GAIB - Aligned - Irys - HeyElsa - Antix - Scroll - Infinex - Camp Network - aPriori - Mantra - Allora - Almanak - DeepNode AI - Gensyn - Ari - Unich - Eslipce - tea Protocol - Kinto - Zenchain - Orochi - Recall Next scam project?

@reflectmoney That's true, but it would be better if we combine yield bearing stable coins with neobank. I love to see Usdc+ (and maybe other yield bearing assets in future) can be used for payments

Stablecoins crossed $10T in onchain volume earlier this year. Almost all of it earned nothing along the way. We think that changes this cycle. And we're building the infra to make it happen.

@reflectmoney @ExponentFinance Done 👌

Don't forget that you can multiply your Reflect Points through Exponent. Go on @ExponentFinance, swap your USDC+ for YT-USDC+ and enjoy that massive 5× RP boost!

👉beta.vaultedge.fi - Enter beta code - Deposit assets, borrow USDVE - Stake USDVE, withdraw anytime - Add LP USDVE/USDC on @HydrexFi Use the codes below (limited availability): wZPH9WY x7nhPlz mMeio7K

Farming airdrop + 2 digits yield with your stablecoin Although the market is currently a bit down, you can still: ➤ Earn 10% APY+ points. ➤ Borrowing USD with 0% interest. ➤ You are still early (beta phase, require code for using) 🧵👇

@reflectmoney @0xNIC0

376 pages of proposed regulation by the US government. One clear takeaway: the future of stablecoin yield is non-custodial. @0xNIC0 read every page so you don't have to.

@0xvietnguyen What do you think of Reflect project they invested in? It's not good too?

People think a16z CSX fund is just as good as the a16zcrypto fund

@Pips0xd @reflectmoney When will it be fixed? @stablecoinjesus @0xNIC0. Poins're not showing on my end

@reflectmoney Points are not showing yet still , both on reflect and exponent

+ is coming to USDT

@reflectmoney Wennn

@reflectmoney @solana @Nightly_app Love it

Holding USDC+ on @solana? You could be earning more. @Nightly_app gives you a 10% points bonus compared to other wallets. Same USDC+. More points.

@reflectmoney @stablecoinjesus Bullish 🔥

Whitelabel is permissionless. Anyone can launch a yield-bearing stablecoin. For teams that want hands-on support, the Reflect team is here to build with you. A more personalized experience and direct support. Interested? DM @stablecoinjesus.