NUSD Redeem Begins at $0.51…jrNUSD Full Loss Risk

Neutral Finance began redeeming NUSD and sNUSD on July 17. Strata stated that the on-chain redemption contract's reference value was set at $0.51 per NUSD. Strata also noted that an evaluation update reflecting the NUSD reference value of 0.51 would be applied after a 48-hour delay. Once implemented, jrNUSD will be recorded as zero, with any remaining value distributed to srNUSD, the senior tranche. Strata confirmed that redemptions following the update will be settled in sNUSD based on the adjusted net asset value.