Neutrl offers a synthetic stablecoin called NUSD, designed to maintain a stable value through market-neutral strategies. It uses a diversified portfolio combining discounted OTC crypto assets, stablecoins, and delta-neutral hedging positions to reduce directional risk and maintain liquidity. The protocol balances longer-term locked tokens with liquid assets to ensure redemption capability. It relies on on-chain transparency, overcollateralization, and risk management mechanisms like stress testing and margin monitoring. Mechanisms such as arbitrage incentives and portfolio adjustments help recover the peg if NUSD deviates.