TechFlow news, September 3 — According to an official announcement, Reflect has announced the completion of a $3.75 million funding round led by a16z CSX, with participation from Solana Ventures, Equilibrium, Big Brain VC, and Colosseum. At the same time, the protocol has launched its yield-bearing stablecoin USDC+.
Reflect Money stated that most stablecoins have yet to address the issue of on-chain capital efficiency and still rely on interest rates from off-chain custodial systems. The protocol aims to increase capital efficiency by 100x by eliminating idle assets and removing intermediaries. It enables users and developers to earn yields from blockchain's core infrastructure in the form of stablecoins. The protocol is currently open for a waitlist, which users can join via the official website.
