Lulo Reports 6.4% Drawdown on Boost Deposits Linked to Neutrl
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Lulo says its Boost deposits face a 6.4% drawdown tied to Neutrl exposure, while protected deposits remain unaffected.
Lulo said its Boost deposits face a 6.4% drawdown stemming from exposure to Neutrl, according to The Defiant.
The impact does not extend to protected deposits, Lulo said, drawing a distinction between the two deposit categories.
Neutrl’s redemption contract offers 0.51 USDC for each NUSD. The available report did not specify the size of Lulo’s exposure or a timeline for redemptions.
Source: The Defiant
