PANews reported on April 16 that according to CoinDesk, the DeFi protocol Neutrl completed a $5 million seed round of financing, led by STIX and Accomplice, with participation from Amber Group, SCB Limited, Figment Capital and Nascent. Neutrl launched the stablecoin NUSD, which purchases locked-up altcoins at a discount in the OTC market and hedges with perpetual contracts to achieve hedging returns. The strategy aims to popularize hedge fund-level arbitrage methods to mass investors, with a target market size of $10 billion.