what's neutrl?
Neutrl is a DeFi protocol that offers a market-neutral synthetic dollar called NUSD, designed to generate scalable yields through arbitrage strategies in OTC and altcoin markets. It leverages locked altcoins from a $10 billion private market to create institutional-grade, delta-neutral returns without exposure to market volatility. The protocol's yield-bearing token, sNUSD, has demonstrated high APYs, such as 30%, by pairing discounted OTC tokens with perpetual shorts for arbitrage opportunities. Neutrl recently raised $5 million in seed funding to expand its synthetic dollar offering, with upcoming features like the Neutrl Origin Program as a points system to reward early users and contributors. Security audits, including one by Cantina covering NUSD and sNUSD contracts for issuance, redemption, and yield mechanisms, ensure robust risk management, such as matching lock-up periods to OTC timelines to mitigate liquidity risks during redemptions.
Neutrl reached $226M in total value running OTC arbitrage strategies as of February 2026.
Links
x.com/neutrl_labsHas $114 million in assets set to expire over a 9-day period ending around 2026-03-04.
Added two new liquidity pools on Pendle for NUSD and sNUSD tokens, both expiring on 2026-06-04.
Offers 10,000 $IN token rewards for a "Leverage Looping - sNUSD (Neutrl)" strategy with 20.23%+ APY.
Allocates 96% of sNUSD collateral to stablecoins (USDC, USDT, USDe, USDS) with only a small percentage allocated to OTC locked token purchases with short positions.
Integrated two new sNUSD derivative markets (srNUSD, jrNUSD) on Pendle with 2026-05-28 expiry, offering 13.75% APY and 25x Neutrl points to liquidity providers. jrNUSD built by Strata Markets.
Will be tranched through Strata Markets based on their front end update.
sNUSD vault will be tranched through Royco's Dawn product.
Included in a list of "most important names in stablecoins in 2026" alongside major stablecoin issuers and platforms.
Reached $226M in total value running OTC arbitrage strategies as of February 2026. NUSD supply grew from $120M to $225M over a 90-day period.
Mentioned by Nascent as a portfolio company in the "Neo Finance" sector alongside other crypto-native financial infrastructure projects.
Exceeded $200M in stablecoin deposits on Ethereum Mainnet.
The sNUSD/NUSD ratio shifted from 35% to 66%.
sNUSD's Implied APY decreased from 14.6% to 12.6%, with the underlying APY at 12.56%. sNUSD principal token (PT) on Pendle achieves 12.2% fixed APY.
Current staking metrics show 36% staked APR and 19.7% staked percentage, with base APR calculated at 7.3%.
Yield distribution mechanism shifts from weekly 8-hour distribution to continuous 7-day payout of prior week's yield, causing temporary display issues on Pendle interface showing 6% APY instead of actual ~19% APY.
Neutrl changes yield distribution from weekly 8-hour blasts to continuous 7-day periods, causing Pendle UI to incorrectly display 6% APY instead of actual ~19% APY underlying yield.
sNUSD delivers 21.77% in 7-day average yield, ranking first among 15 competing stablecoin products including yUSD at 12.62% and savUSD at 12.15%.
Integrated Equilibria offering 250% vePENDLE boost for sNUSD yields, 11.8% APY, and 25x Neutrl Points multiplier across sNUSD, NUSD, stablecoins, and Pendle LP/PT deposits.
The Equilibria integration now features a 250% vePENDLE boost and awards 25x Neutrl Points multiplier, a reduction from the previously announced 50x multiplier, with accepted deposits expanded to include sNUSD and Pendle LP/PT in addition to NUSD, USDT, and USDC.
New yield farming opportunity on Equilibria provides 250% vePENDLE boost and 25x Neutrl Points multiplier for sNUSD, NUSD, USDT, USDC, and Pendle LP/PT deposits.
FourPillars releases a new Neutrl dashboard, marking the first project from their new Data Engineer HEUN.
Points tracking dashboard goes live, enabling users to view program details and check their rankings.
Neutrl serves as an example of using AccountableData Proof of Solvency dashboard for verifiable asset and liability transparency.
Pendle adds new markets featuring Lido and Neutrl integration.
PT-sNUSD launches on Pendle offering 17.86% fixed APY, priced at $0.96 for $1, with underlying sNUSD yielding approximately 17.48% APY.
New Pendle pool added for sNUSD with March 5th expiry on Ethereum.
sNUSD launches on Pendle Finance with PT offering 17% fixed yield.
Equilibria partnership activates boosted yields for NUSD on Pendle with vePENDLE boost, accepting NUSD, USDe, USDC, USDT deposits and awarding 50x Neutrl Points per position.
NUSD integrates with Equilibria to provide boosted APY on Pendle positions with 50x Neutrl Points, accepting multiple stablecoin deposits including NUSD, USDe, USDC, and USDT.
Boosted $PENDLE yields go live on the $nUSD pool on Pendle Finance.
Pendle NUSD pool reaches $5M swap depth in one day with 9.4% fixed APY for 92 days available.
The NUSD pool experiences significant liquidity growth in one day, now supporting $5m positions at 9.4% fixed APY.
Neutrl launches PT/YT markets on Pendle Finance with 15% fixed rate yields.
New NUSD pool launches on Pendle Finance offering 14% fixed APY for 93 days through PT-NUSD and 30x leverage for Neutrl points through YT-NUSD.
sNUSD supply reaches $127.5M with 9.5% of NUSD staked, while the Curve NUSD/USDC LP holds $9.4M in liquidity. Current yield stands at 16% APY for sNUSD holders and 14% APY for PT-NUSD over 93 days.
Collaboration with Pendle Finance announced through joint-sponsored content.
Pendle markets launch with $31M day 1 liquidity, 15% Fixed APR, and 50x points multiplier for YTs with 93-day expiry.
Neutrl implements a Proof of Solvency dashboard built by AccountableData to verify assets and liabilities using zero-knowledge proofs for financial reserves.
$NUSD launches with OTC yield and full transparency features.
Hiring expands to include Platform & Infrastructure Engineer and Quantitative Researcher positions in addition to the previously announced Quantitative Trader role.
Neutrl publishes an explanation of how they value their OTC deals.
Neutral Labs' delta neutral vault on JLP underperforms with ongoing losses.
Neutrl Labs opens hiring for a remote full-time Quantitative Trader position.
Neutrl is hiring for three remote roles including Platform & Infrastructure Engineer, Quantitative Researcher, and Quantitative Trader.
Neutrl's representative @behrin_n participates in a live event today at 11AM ET on 11AMdotclub alongside representatives from dmdotfun and clanker_world to discuss crypto native yield, chat, trade, and meme topics.
NUSD and sNUSD go live on Stargate with LayerZero OFT standard adoption, enabling cross-chain movement between Ethereum and Plasma at 1:1 rate with no slippage.
NUSD and sNUSD are live on Stargate, adopting LayerZero's OFT standard for cross-chain transfers between Ethereum and Plasma at 1:1 rate with zero slippage.
TVL reaches $120m with points program distributing 5 points per NUSD for both holding and LP positions.
Season 1 farming is active with historical APRs in low double-digits and live APRs expected in coming weeks, partnership with 0xGroomLake added for operational security.
Neutrl is among projects with potential exchange listings anticipated this week.
$NUSD and $sNUSD tokens launch publicly tomorrow, users can mint and stake $NUSD to access yield-generating strategy.
Hiring a Platform & Infrastructure Engineer for full-time remote position to build platform capabilities.
Staked version sNUSD launches with fixed-duration locking options, and NUSD liquidity pools go live on Curve Finance.
The platform officially opens to all users on Monday, November 10.
Raises over $50 million from private limited partners in addition to the $75 million in its pre-deposit vault.
Raises $50M from private LPs and $75M in pre-deposit vault, with STIX co-leading the seed round announced in April.
Partnership announced with Accountable focused on transparency for tokenized OTC Basis.
Neutrl Labs is listed among DeFi projects expected to have a Token Generation Event between now and end of year.
Has $75M in deposits locked for 2.5 months.
Public launch is coming for the project.
Hiring expands to include Quantitative Researcher and Quantitative Trader positions.
Opens a new position for a Platform & Infrastructure Engineer as a remote full-time role.
The team is hiring a Trading Systems Engineer for a remote full-time role.
Ranks #27 among all crypto projects for highest smart follower growth over the last 2 days according to @_dexuai data.
Caps hit $75M.
The project raised $5M in funding for its platform offering market-neutral crypto yields through synthetic dollars and delta-neutral trading strategies, with points farming available through stablecoin deposits.
A representative appears on Rollup TV at 12:30p ET in a scheduled lineup that includes Berachain and ElizaOS representatives.
Venture firm Accomplices discloses an investment in neutrl_labs made during Q1/Q2 of the past year, noting the project has gained popularity since the early investment.
A final pre-deposit vault cap increase opens before the full platform launch, representing the last deposit opportunity following the two previous vaults that filled rapidly.
The team is hiring for four remote roles spanning platform infrastructure, quantitative research, and trading systems engineering.
A second pre-deposit vault opportunity opens after the first vault filled in 18 minutes, giving missed participants another chance to deposit.
The platform now holds $580M in vaults with 44K people farming points, showing significant expansion from the $52M TVL reported earlier. The USDai strategy remains unchanged.
The $50M pre-deposit cap was filled in 20 minutes.
Pre-deposit opens October 15 at 1 PM CET with $50M cap on Ethereum mainnet, deploying on Plasma chain through upshift_fi and k3_capital, with early participants earning 450K XPL from Plasma campaign. The protocol introduces $sNUSD as the staked token ticker and discloses partnerships with Stix, Fireblocks, Copper, and backing from Nascent, Figment Capital, and Amber Group.
First public pre-deposit launches October 15 (1 PM CET) with $50M cap on Ethereum mainnet, offering 450K XPL rewards from Plasma campaign and managed by K3 Capital. Private beta achieved 26-30% APY with $52M TVL, backed by Nascent, Figment Capital, and Amber Group, with partnerships including Stix, Fireblocks, Copper, and Upshift.
Neutrl Labs opens public deposits with USDT support, reporting 30% APY for early beta users and $52M TVL.
Three additional hiring roles are announced: Quantitative Researcher, Quantitative Trader, and Trading Systems Engineer, expanding beyond the previously announced Platform & Infrastructure Engineer position.
The platform currently holds $52M TVL and successfully maintained operations through yesterday's market selloff, validating system resilience under stress conditions.
The project is hiring a Platform & Infrastructure Engineer for a remote, full-time position, indicating team expansion ahead of upcoming launches.
Token ticker $NUSD is disclosed, with the project's yield generation mechanism specified as tokenizing OTC deals and hedging.
The Origin Program launches as a points system rewarding early contributors and users of the synthetic dollar.
A pitch presentation is scheduled today featuring the project alongside prominent crypto investors and projects including DeFiance Capital, Jupiter Exchange, Folius Ventures, and Mantle Official.
An investor publicly discloses making a bet on the project this year, citing belief in tradfi adoption of crypto rails and demand for institutional grade yield products.
A TGE is scheduled for Q4, marking a significant upcoming financial milestone for the project.
A comprehensive hiring expansion is underway with 4 remote roles being recruited across platform infrastructure, quantitative research, and trading functions.
The project participated in an industry panel discussion about onchain yields alongside established DeFi protocols Maple Finance and Theo Network, organized by Four Pillars, indicating new potential collaborations and increased industry visibility.
Public deposits for NUSD and sNUSD tokens are going live soon, with The Edge Newsletter featuring a deep dive on the project's 29% APY market-neutral arbitrage strategy.
The project launches on Plasma platform alongside partner projects USDai_Official, Daylight Energy, and AxisFDN, offering unique yield sources integrated with USDT.
The team is hiring a Trading Systems Engineer, indicating continued expansion of their trading infrastructure capabilities.
The protocol offers 45% APR yields and is gaining media attention with potential Edge Pod podcast coverage.
The company is hiring a Platform & Infrastructure Engineer for a remote, full-time position, indicating team expansion during their pre-launch phase.
The project is listed among potential Q4 crypto launches, indicating an expected launch timeframe in the fourth quarter.
The protocol is set to go live within 1-2 weeks, focusing on OTC Basis trading with promised high yields.
A core team member who helped build the DeFi primitive from scratch has left the project to pursue new opportunities.
Security audit completed by Cantina covering NUSD and sNUSD contracts, including issuance, redemption, and yield mechanisms.
Upcoming $55B token unlock event creates arbitrage opportunities through discounted tokens paired with perpetual shorts.
Lock-up periods for NUSD are matched to OTC position timelines to prevent liquidity crises during redemptions. Risk management includes consideration of negative funding rates for OTC alt shorting.
OTC yield opportunities previously limited to institutions now available to all users through new transparent decentralized protocol.
$NUSD token launches with market-neutral OTC strategies, offering institutional yield products. Project showcase scheduled for June 27-28 in Cannes.
Market-neutral OTC strategies brought on-chain to generate institutional-grade yield with full liquidity.