Neutrl

Neutrl

2026-09-18 17:26:22

Neutrl Opens NUSD Redemptions at $0.51 as Strata’s Junior Tranche Heads for Zero

Neutrl has started a redemption program that values NUSD at $0.51 in USDC, giving holders a way out at a 49% discount to the token’s $1 reference value. The rate is visible on Ethereum through the protocol’s redemption contract, where the `redemptionRate()` function returns 510000000000000000, or 0.51 with 18 decimals. Neutrl said both NUSD and sNUSD holders can submit requests, receive USDC, and have the corresponding tokens burned, though its public notice did not spell out the conversion used for sNUSD. The same valuation is set to wipe out the first-loss layer in Strata’s Neutrl market. Strata has scheduled an update that would mark jrNUSD down to zero and set the srNUSD/NUSD accounting value at 1.23971, with withdrawals settling in sNUSD rather than USDC. OAK Research also flagged a legal issue, saying users who accept the redemption program may be waiving recourse against Neutrl across all of their tokens, even if they redeem only part of their holdings. During The Defiant’s reporting, the redemption portal was region-blocked, preventing an independent review of the exact clause.

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Neutrl

2026-09-18 02:37:07

Neutrl opens official redemption portal for NUSD and sNUSD holders

Neutrl said holders of NUSD and sNUSD can now submit redemption requests through its official redemption portal, subject to applicable terms and conditions. Under the program, redemptions will use a fixed redemption rate backed by previously disclosed liquidity reserves. Users who complete the process will receive USDC, while the corresponding NUSD or sNUSD will be burned. To proceed, users must connect the wallet holding the tokens and sign an on-chain message to verify ownership, with the portal showing the relevant redemption details before submission. The redemption window is expected to remain open until Nov. 14, 2026. Neutrl also said the redemption contract has been reviewed by a third-party security audit firm and urged users to confirm they are interacting only with the official Neutrl redemption portal URL before connecting a wallet, signing messages, or sending transactions. Neutrl is operated by Caverna Auctus Inc.

400

Neutrl

2026-09-18 06:00:00

Neutrl reopens redemptions after five weeks, sets NUSD payout at 0.51 USDC

Neutrl has reopened its redemption portal for NUSD and sNUSD after a five-week suspension, but holders can now redeem at a fixed rate of 0.51 USDC per token rather than at par. On-chain contract data shows the protocol’s redemptionRate parameter at 510000000000000000, which converts to 0.51 with 18 decimals, and the window is expected to remain open until Nov. 14. The move follows Neutrl’s Aug. 13 halt of minting and redemptions, when it said only that reserves had been affected while denying any hack or code exploit. Later, on Aug. 28, the protocol said it had about $27 million in immediately available liquid assets, while NUSD’s external circulating market value had fallen to roughly $53.5 million at the time withdrawals were frozen. The gap between those figures has fueled questions over whether the new payout rate reflects a liquidation analysis or simply a pro rata distribution of cash on hand. The fallout has also spread to structured yield protocol Strata, which marked jrNUSD to zero after observing the 0.51 reference rate and pushed losses into senior holders through its rule set. Questions around undisclosed counterparties, illiquid OTC positions, and the legal effect of signing Neutrl’s redemption terms remain unresolved.

560

Neutrl

2026-08-29 03:32:58

Neutrl to Open Early Redemption for NUSD, sNUSD in Early September After Strategy Position Issue

In a post published on its official X account on August 29, decentralized yield protocol Neutrl said that a problem with a position in its strategy had affected the liquidity of part of its reserves. The team said it had quickly suspended the relevant smart contracts after consulting legal counsel. According to the protocol, it currently has approximately $27 million in liquid assets that are available, in addition to unrealized strategy positions and the related profits or losses. Neutrl said it is unable to confirm at this stage the recovery time, the amount that could be recovered, or the recoverable value. In order to respond to users' demand for liquidity, Neutrl said it will open an early redemption mechanism for holders of NUSD and sNUSD, and it will treat all holders equally. The target is early September, though the timeline could shift depending on the deployment of the new redemption contract, independent audits, and legal and financial reviews. The team also advised users not to trade NUSD or sNUSD during the assessment period, so as to avoid affecting the recovery arrangements.

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Neutrl

2026-08-20 13:37:06

Neutrl says protocol services remain paused as it reviews reserves for recovery plan

Decentralized yield protocol Neutrl said its services remain suspended as the team evaluates available reserves and works on an orderly recovery plan. In a post on X, the project said the situation remains complex and that its top priority is securing the best possible outcome for users. Neutrl added that it will share more information as soon as next steps are finalized. The update follows an announcement made last week, when the protocol said it had temporarily halted minting, redemptions, and other functions after its reserves were affected. No timeline for resuming services was provided in the statement.

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Neutrl

2026-08-14 09:28:14

Neutrl pulled $3.51 million from Curve, then denylisted the pool as NUSD held near $0.998

Neutrl’s NUSD stayed close to $0.998 even after the protocol paused minting, redemptions, and other functions for more than a day, but on-chain records cited by BlockTempo point to a different explanation than reserve strength. The report says Neutrl removed roughly $3.51 million from the NUSD/USDC pool on Curve at 7:12 p.m. Taipei time on Aug. 13, draining nearly all of the pool’s liquidity. Just 96 seconds later, an address identified as 0xDE72…1504 submitted an addToDenylist transaction to the NUSD contract, using that same Curve pool address as the parameter. Once the pool was denylisted, transfers in and out were blocked, which for an AMM pool meant deposits, withdrawals, and swaps stopped working at the same time. As of publication, the pool reportedly held only about 14,876 NUSD and 12,151 USDC, or roughly $27,000 combined. DefiLlama data cited in the piece showed NUSD at about $0.9983 with circulating supply around $53.3 million. BlockTempo said Neutrl had not explained either the liquidity removal or the denylist action by press time.

2760

Neutrl

2026-08-14 06:17:38

Neutrl halts NUSD minting and redemptions as reserve concerns spread to Strata market

DeFi protocol Neutrl said Thursday that it has paused minting, redemptions, and other protocol functions for its synthetic dollar NUSD after unspecified circumstances affected protocol reserves. The move, which Neutrl said was taken following advice from legal counsel, leaves several key questions unanswered, including which assets or counterparties were affected, whether any realized losses have occurred, and when operations might resume. Strata, a structured yield protocol tied in part to Neutrl markets, later suspended minting, redemptions, and related functions for contracts connected to its Neutrl market while keeping its other markets open. On-chain data from RWA.xyz showed roughly $53.6 million in NUSD market value as of Friday, down 18.4% over the past 30 days, while monthly transfer volume fell 72.4% to about $71.4 million. Earlier disclosures had painted a healthier picture: Accountable said on May 25 that its Neutrl dashboard showed cryptographic proof matching reserves to liabilities, and BA Labs said in a February risk review that NUSD had an estimated 103.6% collateralization ratio, though it also classified the integration as higher risk because of counterparty, operational, and liquidity exposure.

1660

Neutrl

2026-08-14 02:59:27

Foresight corrects Neutrl recovery vote claim, says post came from suspected impersonator

Foresight has issued a correction on earlier claims that Neutrl had proposed a protocol recovery plan and put it to a community vote. After review, the outlet said the message came from a suspected impersonation account, @NeutrlFnd, rather than from Neutrl’s official account. As of publication, Neutrl’s official account had not posted any announcement about a recovery plan or a vote. The suspected fake account showed several warning signs. Its display name was written as "NeutrI Foundation," using an uppercase "I" to mimic a lowercase "l." Foresight also noted that the account was registered in April 2012, had posted only 11 times in its history, used a purchasable organization verification badge, and had replies restricted on its posts. Foresight added that wording in the post about offering proportional compensation and recovery allocations to users holding positions at the time of suspension matched common phishing language. The voting link may have been designed to lure users into connecting wallets and signing malicious approvals.

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