Novel decentralized finance (DeFi) protocol Neutrl aims to bring a hedge fund trade — once limited to sophisticated investors — to the masses in the form of a crypto token.
The protocol is launching its NUSD "synthetic dollar" token, designed to generate returns by arbitraging discounted altcoin deals in over-the-counter (OTC) markets, the team told CoinDesk in an exclusive interview.
Neutrl also raised $5 million in seed funding led by digital asset private marketplace STIX and venture firm Accomplice. They were joined by Amber Group, SCB Limited, Figment Capital and Nascent alongside a range of crypto angel investors including Ethena founder Guy Young and derivatives trader Joshua Lim of Arbelos Markets, recently acquired by FalconX.
