Can you verify Neutrl USD (NUSD) reserves yourself?
NUSD's reserves sit off-chain, so you read a third-party attestation of them rather than the accounts themselves.
Backed by OTC-acquired discounted or locked altcoins, each hedged with an equal short perpetual, plus liquid stablecoin reserves. Transparency runs through Accountable's zero-knowledge Data Verification Network, which reads balances from custodians, exchanges and contracts and publishes a live Proof of Solvency on Neutrl's dashboard; issuer docs also promise periodic reserve audits by unnamed firms, and a separate real-time monitor, Hypernative, holds a pauser role per Neutrl's and Hypernative's own writeups. A genuinely strong version of the attestation model, and still structurally read-and-trust.
What you cannot verify yourself: The OTC altcoin basket, its valuation model, and the exchange hedge positions, none of which live at addresses you can open. You trust that the attested account set is complete and that locked, illiquid positions hold their reported value.
Hedge leg: The short-perpetual hedges on the OTC altcoin book sit on centralized venues, confirmed through the Accountable attestation rather than readable on-chain.
Neutrl's NUSD on Ethereum is unrelated to Synapse's Nexus USD (nUSD) and to a legacy "Neutral Token" that also used the NUSD ticker; only the address above is Neutrl USD.
Issued by Neutrl. "Attestor-required" describes the structure of the verification, not the quality of the issuer.
Run this on NUSD yourself, or get a signed record of it.
The read below is free and live. Or get a machine-signed, point-in-time read of this exact address in about two minutes, that anyone you forward it to can verify in three lines without trusting you.
Signed on the page after you pay in USDC on Base: no email, no wait. It signs public on-chain bytes only (supply, decimals, and symbol at a block), not a solvency opinion and not a claim about who controls the address. Issuing a dollar of your own? The GENIUS-readiness kit is $999 setup then $99 a month. Not compliance and not an audit.
Live supply, and the command that reproduces it
What this read establishes: On-chain NUSD and sNUSD supply and the protocol contract set Neutrl publishes in its docs. Supply was about 72.3M on July 1, 2026, down roughly two-thirds from a mid-February 2026 peak near 231M by DefiLlama's series, with the peg holding near $1 throughout; the contraction is an outflow, not a depeg.
Reproduce the supply read yourself
cast call 0xe556aba6fe6036275ec1f87eda296be72c811bce "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0xe556aba6fe6036275ec1f87eda296be72c811bce "symbol()(string)" --rpc-url https://ethereum-rpc.publicnode.comPrefer curl? Show the raw JSON-RPC call
curl -s -X POST https://ethereum-rpc.publicnode.com -H 'content-type: application/json' --data '{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0xe556aba6fe6036275ec1f87eda296be72c811bce","data":"0x18160ddd"},"latest"]}'Live supply is read from the chain and cached hourly on this page; the command above is real-time. Always confirm you are reading the canonical contract address. A look-alike token can copy any name or symbol; only the address is identity.
Other synthetic delta-neutral tokens
Also: the reserve transparency scorecard, the Stablecoin Reserve Recomputation Report, every stablecoin we cover, or paste any address into the free tool.
Kerne is infrastructure and a service provider, not an auditor, a rating agency, a custodian, or an investment adviser. This page reads public on-chain data and names publicly disclosed transparency methods. It is not an audit, a solvency or credit opinion, a recommendation, or any form of investment, legal, tax, or accounting advice, and the appearance of NUSD is not an endorsement. Reserve-transparency descriptions are sourced from Neutrl's public disclosures and, where the token is listed there, the Kerne synthetic-dollar scorecard, cross-verified June 29 to July 3, 2026; verify at the canonical sites. Kerne is not affiliated with Neutrl or any attestor named here. Page reviewed 2026-07-03. Last updated July 3, 2026.