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. Do not trust the issuer, and do not trust us. This page reads NUSD's live supply straight from the chain and shows you, honestly, where verification ends and trust begins.
Issued by Neutrl. It is not an audit, a rating, or a solvency opinion, and NUSD appearing here is not an endorsement. "Attestor-required" describes the structure of the verification, not the quality of the issuer.
The part you can always verify: live supply
Total supply is a contract function anyone can call. Below is NUSD read live from the chain, with the exact command to reproduce it. This is the one number you never have to take on faith.
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.
The harder question: can you verify NUSD's reserves?
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.
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.
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.
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.
The reserve backing sits off-chain, so you read a third-party attestation of it rather than the accounts themselves. To move NUSD toward attestor-optional, an issuer would have to publish raw on-chain reserves plus a proof re-derivable from public inputs. That is a property of the architecture, not of effort, so it is a rebuild, not a new auditor.
See how NUSD sits next to the rest of the field on the reserve transparency scorecard, or run this same read on any other token with Verify Any Stablecoin.
Common questions about NUSD
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. 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. 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. On-chain supply is something you can always read yourself; the reserves are where the trust boundary sits, and this page shows exactly where.
Who attests NUSD's reserves?
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. The reserve figure runs through Accountable (zero-knowledge Proof of Solvency), which is a legitimate, common model. You read that attestation rather than the underlying accounts. This is a structural fact about the verification, not a judgment on the issuer.
Which NUSD contract is canonical, and how do I confirm I have the right one?
NUSD is a synthetic delta-neutral token issued by Neutrl at 0xe556aba6fe6036275ec1f87eda296be72c811bce on Ethereum. A look-alike token can copy any name or symbol, so only the address is identity: confirm you are reading the canonical contract above before trusting any supply or reserve figure. 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.
Run this on NUSD yourself, or get a signed record of it.
The check above is free and live. Paste NUSD's address into the free tool to read it interactively, 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.
The $29 read is signed instantly 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.
Other synthetic delta-neutral tokens
Or browse every stablecoin we cover, each with its own live read and verdict, 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 1, 2026; verify at the canonical sites. Kerne is not affiliated with Neutrl or any attestor named here. Page reviewed 2026-07-01. Last updated July 1, 2026.