Neutrl Opens NUSD Redemptions As On-Chain Rate Sits Near $0.51

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR Neutrl has opened an emergency redemption route for NUSD holders. The on-chain contract is paying around $0.51 in USDC per NUSD. The situation follows losses inside a junior Strata collateral tranche. NUSD holders finally have a clearer idea of what they can recover. Neutrl has opened an emergency on-chain redemption vault following losses in the collateral structure backing the protocol, allowing users to redeem NUSD for USDC at a rate currently sitting around $0.51 per token. That figure comes from the redemption contract itself rather than a newly declared $0.51 peg. And that distinction matters. A Stablecoin Redemption At Half Value Stablecoins are built around the idea that one token should remain worth roughly one dollar. Once that confidence breaks, the question quickly becomes what the underlying assets are actually worth. Neutrl’s answer, for now, is about 51 cents. The problem stems from a loss inside the junior tranche of a Strata collateral vault. The remaining senior collateral provides the assets being used to fund emergency redemptions. That structure means NUSD ...