Neutrl opens emergency NUSD redemption at about $0.51
- —The NUSD redemption rate is about $0.51 in USDC
- —The cause is losses in the junior Strata tranche
- —The redemption is funded from senior collateral
- —There is no total loss, but the return is half of face value
Why it matters: The case highlights the risks of structured DeFi products: tranches redistribute losses but do not eliminate them, and a stablecoin can trade at a 50% discount.
Source: Bitcoinist