Neutrl Opens Redemption Program for NUSD Holders at 0.51 Rate

Neutrl's redemption program for NUSD and sNUSD holders has opened. The program allows eligible users to exchange their tokens for USDC after a reserve-liquidity problem halted normal protocol operations in August.

The redemption rate is fixed at 0.51, as reported by Strata through an on-chain reading of the newly deployed redemption contract.

NUSD holders can connect their wallet containing NUSD or sNUSD and sign an on-chain message to prove ownership before reviewing applicable redemption details.

The program's expected deadline is November 14, subject to applicable terms. The redemption window remains open until then.