The DeFi protocol Neutrl has completed a $5 million seed round financing, led by STIX and others

according to CoinDesk, the DeFi protocol Neutrl announced the completion of a $5 million seed round financing, led by the digital asset private placement market STIX and venture capital firm Accomplice, with participation from numerous cryptocurrency angel investors including Amber Group, SCB Limited, Figment Capital, and Nascent, as well as Ethena founder Guy Young and derivatives trader Joshua Lim from Arbelos Markets (recently acquired by FalconX).

According to the Web3 asset data platform RootData, Neutrl is a high-yield synthetic dollar protocol that utilizes over-the-counter arbitrage strategies to achieve scalable, market-neutral returns in the altcoin market.