Neutrl USD

Neutrl USD (NUSD) is a synthetic dollar issued by the Neutrl protocol and intended to stay close in value to the US dollar. According to Neutrl's documentation, the protocol aims to generate yield through arbitrage in over-the-counter (OTC) altcoin markets, funding rate differences in futures and other market-neutral strategies in decentralized finance. Positions that offset directional risk are meant to preserve the dollar value of the collateral.

NUSD holders can stake their tokens to receive sNUSD; the yield generated by the protocol is distributed through sNUSD. The documentation explains funding, liquidity, counterparty, exchange, stablecoin and margin risks under separate headings and describes the protocol's conditions for minting and redemption. The token is available on Ethereum.

Market-neutral synthetic dollars can drift from their dollar peg if funding rates turn negative, if problems occur at the exchanges where positions are held, or if the liquidity of collateral assets declines. Lzzo.com uses DefiLlama's US dollar reference price linked to the token's CoinGecko identity; when the source returns no current value, no estimated price is shown on the page and the price field stays empty.