Neutrl Opens Emergency Redemptions for NUSD Holders Amid Strata Collateral Losses

The Neutrl protocol has opened an emergency on-chain redemption vault for NUSD holders, allowing them to redeem their tokens for USDC at a rate currently sitting around $0.51 per token.

This move comes after losses were incurred inside the junior tranche of a Strata collateral vault, which is being used to fund emergency redemptions.

The remaining senior collateral provides the assets backing these redemptions, but NUSD holders are still facing a significant discount on their original value.