---
title: "Neutrl USD (NUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/nusd-neutrl/"
description: "Build-time stablecoin profile for Neutrl USD (NUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Neutrl USD (NUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Delta-neutral synthetic dollar backed mainly by stablecoins plus hedged OTC positions; weathering a 24% one-month supply contraction without breaking peg, with whitelisted queue-based redemption and ~8.7% sNUSD yield. Neutrl's NUSD is being stress-tested by something more revealing than a depeg event: a 24% supply contraction in a single month, from $225M to $170M, as holders queue for the exit. The {{term:delta-neutral}}delta-neutral{{/term}} synthetic dollar backed by 93.5% stablecoins with OTC and hedged {{term:perpetual}}perpetual{{/term}} positions in a {{term:basis-trade}}basis-trade{{/term}} structure has held its peg cleanly through the drawdown — only a handful of shallow sub-200-bps blips on record — which says more about the mechanism than any bull-market AUM figure could. But the composite has slipped to a C+ safety grade, and the stress gauge has drifted off the calm end into a more watchful posture, the dashboard's quiet acknowledgment that an outflow of this size is not free even when the price never moves. The peg engine is still doing its job with the quiet competence of a product built for exactly this scenario; whether the contraction is profit-taking or eroding confidence is the question the next quarter answers, and the grade slip suggests the market is leaning toward the latter.

## Collateral

Accountable currently shows reserves concentrated in liquid stablecoins, with smaller OTC aggregate and other hedged reserve assets; Neutrl describes NUSD as a fully collateralized synthetic dollar backed by delta-neutral strategies and other crypto assets

## Peg Mechanism

1:1 mint and redeem via permissionless router using USDC, USDT, or USDe; peg maintained by arbitrage incentives, delta hedging of derivatives positions, and rapid reserve deployment from liquid stablecoin buffer

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xe556aba6fe6036275ec1f87eda296be72c811bce` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/nusd-neutrl.