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General

Reflect is infrastructure for building with stablecoins. It lets you earn on stablecoins you already hold, launch your own yield-bearing asset, and tranche the risk of either, all through a single API.
No. Reflect does not create new dollars and is not a stablecoin issuer. Plus assets are wrapped, yield-bearing versions of stablecoins that already exist, issued entirely by onchain programs rather than by a company. Reflect provides the infrastructure that performs the wrapping.
Solana. Applications built on Reflect can offer plus assets to their own users without those users ever handling a wallet.
No. Deposits are held by onchain programs, not by Reflect. Nobody can withdraw your funds, redirect them, or stop you redeeming.
Reflect is a Member of the Circle Alliance, but is not affiliated with or endorsed by Circle Inc, Tether, or any other issuer. They are entirely separate entities.
Reflect operates publicly through X only, at @reflectmoney. We do not operate an official Discord, Telegram, Bluesky, LinkedIn, or any other platform not listed here.
Looking to join the team? See our jobs page.

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Earn

A plus asset is a stablecoin you already hold, wrapped so that it earns interest. Deposit USDC and you hold USDC+, which is worth slightly more than USDC and grows over time.
USDC and USDT. Additional yield-bearing assets are available through Protect’s tranche markets.
Plus asset reserves are supplied to overcollateralised lending markets on Solana, including Kamino and Jupiter, where borrowers pay interest for liquidity. Allocation follows a risk-adjusted methodology built with Blockworks Advisory and published in full.
Plus assets appreciate in value. You keep the same number of tokens and each one becomes worth more, so there is nothing to claim.
Yes. Deposits and redemptions are instant and atomic, with no lockups and no notice period.
Reflect shows the real-time rate, derived from interest actually generated on a second-by-second basis. Trailing averages can flatter a rate that has already changed, so we do not use them.
Each plus asset has a supply cap. Current caps, supply and remaining capacity are available from the /stablecoin/limits endpoint.
No. A plus asset carries the risk of every lending market its reserves are supplied to, on top of the risk of the underlying stablecoin. Treat it as a higher-risk asset than the stablecoin it wraps, and read the strategy page before depositing.

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Create

Your own yield-bearing asset. Issue it as a branded stablecoin for your app or community, or as an index token that holds a basket of assets in one place.
Collateral from across Solana, including plus assets, Protect senior positions, tokenised treasuries, equities and funds.
Yes. You set your own share of the interest when you create the asset, and claim it whenever you like.
Yes. Issue and redeem happen atomically against the underlying collateral, with no queue and no cooldown.
Yes. Issuers can choose to stream interest directly to holders’ wallets rather than have the token appreciate in price. This suits payroll, liquidity pools, and jurisdictions that treat price appreciation differently.

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Protect

It splits a yield-bearing asset into two markets, senior and junior. Senior pays part of its interest to junior. In exchange, junior absorbs losses first.
Hold senior for a lower rate with a cushion beneath it, if protecting your balance matters more than maximising it. Hold junior for an amplified rate, if you are willing to take the first loss to get it.
Yes. Junior positions are designed to absorb losses before senior positions do, so a loss on the underlying asset reaches junior holders first. Senior is protected only up to the size of the junior tranche beneath it.
Senior positions can be redeemed at any time. Junior positions have a cooldown: you request a redemption, wait out the period set by that market, then execute it. Cooldown length is published in each market’s configuration.
Reflect’s own plus assets, third-party vaults and any other supported yield-bearing asset, including assets created with Create.
Each market publishes a coverage ratio comparing junior and senior size. The larger the junior tranche relative to senior, the more loss senior is shielded from.

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Risk and Security

Yes, by Offside Labs and Adevar Labs, covering Reflect Core, yield routing, the whitelabel program and tranches. Every report is public in our audits repository.
No. Rather than operate an insurance fund, Reflect runs open tranche markets where anyone can price the risk of a yield-bearing asset. If you want downside protection, hold a senior position and let junior holders absorb the first loss.
Smart contract risk on every program involved, the risk of each lending market reserves are supplied to, interest rates that move with market conditions, and the risk of the collateral itself. Read the risk framework before depositing.
Assets are reviewed before they can back anything on Reflect, scored on liquidity, issuer reliability and availability across venues. Only assets that clear the top of that scale are accepted.

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Building on Reflect

The developer guide covers the SDKs, the REST API, and how to point your AI tooling at the current spec.
No. Reflect can manage accounts and keys for your users, and you can sponsor their network fees, so nothing about the experience needs to feel like crypto.
Yes. dev.api.reflect.money mirrors production, and some products are available there first.
Initialize your integration, then reveal your key with a signature from your integration authority. Keys can be rotated at any time. See getting access.

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