Neutrl NUSD Holders Face Near-Half Payout in Redemption Program

Neutrl has opened an early redemption program for NUSD and sNUSD holders on Sept. 17, allowing eligible users to exchange their tokens for $USDC after a reserve-liquidity problem halted normal protocol operations in August.

The company said that holders can connect the wallet containing their NUSD or sNUSD, sign an on-chain message to prove wallet ownership and review the applicable redemption details before submitting a request. Completed redemptions pay users in $USDC and burn the corresponding NUSD or sNUSD.

According to Strata, the deployed redemption contract reads 0.51, equivalent to a 0.51 reference rate, which suggests that holders currently face a payout close to half of NUSD's original $1 reference value.

The program is expected to remain open until Nov. 14, 2026. Neutrl had disclosed $27 million in liquid reserves, but the company did not state a recovery percentage in the announcement.