Neutrl USD wallet

What is Neutrl USD (NUSD)?

Neutrl USD is a synthetic dollar, not a bank-backed one. There is no cash or treasury bill sitting behind each NUSD; instead the protocol holds a portfolio of crypto positions that are hedged so that the whole book stays close to one dollar per token regardless of where the market goes. Neutrl's particular angle is buying altcoins at a discount in OTC deals (typically locked or vesting allocations) and hedging that exposure with short positions, alongside funding-rate and other market-neutral strategies. The result is meant to be a dollar-pegged unit, but one whose collateral is a managed, hedged book rather than a reserve you can audit like a bank statement.

As a token, NUSD is a standard ERC-20 on Ethereum. Every transfer is paid for in ETH, so a wallet holding NUSD needs a little ETH next to it. NUSD itself does not rebase: the number in your wallet changes only when you send or receive. The protocol has a second token, sNUSD, which is what you get when you deposit NUSD into the protocol's vault. sNUSD works as a vault share with an exchange rate to NUSD that moves over time, and converting back to NUSD goes through a cooldown period rather than an instant swap. Keep the two straight: NUSD is the dollar unit, sNUSD is a claim on the vault.

Redeeming directly with Neutrl is gated to approved participants, so most holders sell NUSD on the open market rather than redeem it. The ticker has lookalikes from unrelated projects that used "nUSD" earlier, so check that what you are holding is the Neutrl contract.

Because NUSD and sNUSD both just sit at an address and need no interaction to keep working, they suit a wallet you do not have to touch. With Tangem the private key lives in the card and the app only reads the balance from Ethereum, so a card kept in a drawer for a year holds NUSD exactly as well as one tapped daily. For an asset whose whole point is not having to do anything with it, that is the right kind of storage.

Supported networks in Tangem (1): Ethereum.