Partial reserve liquidity affected; Neutrl plans to open early redemption for NUSD and sNUSD in early September

Odaily reported that Neutrl stated the team has identified an issue with a position in its strategy, which has affected the liquidity of part of the protocol's reserves, and the relevant smart contracts have been suspended. The protocol currently holds approximately $27 million in available liquid assets, in addition to strategy positions that have not yet been realized, along with corresponding profits or losses. The timeline, amount, or recoverable value cannot be confirmed at this time. In response to user demand for liquidity, Neutrl plans to open an early redemption mechanism for NUSD and sNUSD holders, treating all holders equally. The target timeline is early September, subject to the progress of the deployment of new redemption contracts, independent audits, and legal and financial review processes. The timeline may be subject to change. The team advises holders not to trade NUSD or sNUSD during the assessment period, so as not to affect recovery arrangements.