TL;DR

Neutrl is a new DeFi protocol built around the synthetic stablecoin NUSD, which uses market‑neutral strategies to generate returns. NUSD can be staked for the sNUSD token, representing your yield‑accruing position. The app is straightforward to use and has an ongoing points campaign; extra rewards can be earned through token‑locking options and by deploying Neutrl tokens on other protocols, with integrations active on Curve and Pendle.

If you’re parked in stablecoins and looking for yield, you may want to consider Neutrl, where you can currently get double‑digit returns for minting and staking its synthetic stablecoin, with a points campaign also in operation.

As always, be aware of the risks involved when interacting with any protocol, including the possibility of frontend attacks, smart‑contract exploits, stablecoin de‑pegs, and high volatility across crypto and DeFi.

This guide is not an endorsement of Neutrl. To get a full view of the protocol’s security and auditing details, review its official documents.

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What Is Neutrl?

Launched publicly in November, Neutrl takes a market‑neutral approach to yield generation. It does this through a synthetic stablecoin called NUSD, which can be staked for a second token, sNUSD, the yield‑accumulating token that represents your NUSD deposit. The value of sNUSD increases as yield is captured.

Neutrl also runs a points campaign, rewarding activities such as holding and staking NUSD, and using Neutrl tokens on other protocols (e.g., providing liquidity on Curve and Pendle). For a list of eligible reward activities, see the Rewards page on Neutrl.

NUSD generates returns by acquiring crypto through OTC deals and hedging its holdings via perpetual futures positions, then earning yield through basis arbitrage and funding‑rate arbitrage. Because NUSD is backed by crypto assets and derivatives positions, it is a synthetic stablecoin (unlike USDC, which is backed by cash and cash equivalents). This introduces market‑stress and volatility risks related to funding, liquidity, margin, and OTC counter‑party exposure.

Neutrl prioritizes transparency and conducts regular third‑party audits. Its Metrics page also links to an Independent Proof of Solvency performed by Accountable, a data‑verification provider.

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Metrics and Updates

• Total NUSD supply: just under $185 million

• Staking ratio: 35.59 %

• Locked assets: over $55 million, with the majority locked for six months

Recent product updates (this month):

• The NUSD unstaking period was reduced from 30 days to 10 days.

• Yield is now accrued continuously rather than being delivered in a weekly sum, eliminating timing considerations when staking.

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How to Use Neutrl

Besides the yields and points rewards on offer, a big positive when using Neutrl is that it has a well‑designed user interface, so it’s very…

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