Mustang (MUST)

Overview

Mustang (MUST) market snapshot: Price $0.503016, market capitalization $77.65M, and reported 24-hour volume $6.

Trading activity: Reported 24-hour volume equals 0.00% of market capitalization.

YearBull indicators: Bull Score 0/100. YB Market Risk —. This relative market-volatility label is not an investment-safety assessment. Observed price change: 24h 0.00% · 7d 0.00% · 30d -<0.01%.

Values are descriptive and should be read together rather than as a price forecast. Read the YearBull methodology. Snapshot date: 2026-06-13. Data history: 90 days available in the latest 90-day window.

Methodology responsibility: YearBull’s analytical methodology and presentation rules are developed and maintained by Alan Zelvin, Founder & Lead Crypto Researcher. This note identifies responsibility for the methodology; it does not attribute authorship of this data snapshot.

What is Mustang (MUST)?

Source description

“Mustang Finance is a decentralized borrowing protocol that lets users deposit WETH, tBTC, SAGA, stATOM, KING, yETH, and yUSD as collateral, and mint the stablecoin MUST at an interest rate depositors choose. Mustang Finance is a Liquity V2 fork built specifically for the Saga EVM. The main use-cases for Mustang Finance are: - Borrow MUST - 1-click multiply exposure to collateral assets - Earn yield by depositing MUST in the stability pool or farming elsewhere What is MUST? MUST is the USD-pegged stablecoin issued by the Mustang Finance protocol. It's decentralized, overcollateralized, and backed only by a basket of crypto native assets. MUST is a resilient stablecoin by design: - Only backed by crypto assets ("no real world assets" like US Treasuries) - Directly redeemable for the underlying assets at any time by any one permissionlessly (always convertible in a fast and liquid way) - Can only be created by users depositing more collateral. - What are MUST's main benefits compared to other stablecoins? - MUST is backed by a variety of LSTs, LRTs, plus ETH, ARB, and COMP. - It is always redeemable for the underlying assets, meaning you can always swap it as if worth $1, for the collateral backing it - MUST has native incentives via Protocol Incentivized Liquidity (PIL) directed by governance, ensuring that there will always be sufficient liquidity to handle transactions - MUST is Saga EVM native, and is built specifically for the fast and free-to use Saga EVM network. What is MUST's peg mechanism? - Mustang Finance uses Liquity V2's market-driven monetary policy through user-set interest rates to maintain - MUST's peg and to dynamically respond to situations where the token is above or below $1.00.”

This source-supplied description may contain old, promotional, or unverified claims and is not YearBull editorial analysis.

Mustang (MUST) project facts

  • Source tags: Stablecoins, Lending/Borrowing Protocols, Saga Ecosystem
  • Recorded networks: Saga

Official links and contract records appear in Key Facts. Project details can change, so verify current information with the project.

Mustang (MUST) FAQ

How does Mustang Finance let users choose borrowing rates for MUST?

The project describes Mustang Finance as using a Liquity V2-style, market-driven monetary policy. Users who borrow MUST choose the interest rate attached to their borrowing position. According to the project, these rates can adjust borrower behavior: lower rates may encourage borrowing when redemption risk is perceived as lower, while higher rates may make holding MUST and depositing it for yield more attractive when the token trades below its target.

How does Mustang Finance describe its redemption mechanism for MUST?

The project states that MUST is directly redeemable for the underlying collateral assets at any time and without permission. It presents this mechanism as a way for holders to convert MUST into the assets backing it, helping maintain access to liquidity. The project further explains that when MUST trades below its intended dollar value, arbitrageurs may initiate redemptions, which it says can help restore the peg.

What role do user deposits and farming play in the Mustang Finance ecosystem?

Mustang Finance identifies several activities for users beyond borrowing: depositing MUST into a stability pool, farming elsewhere, and using a one-click feature to multiply exposure to collateral assets. The project also states that its Protocol Incentivized Liquidity program, directed by governance, is intended to support liquidity for transactions. These are presented as protocol functions and claimed ecosystem benefits, not guarantees of yield or liquidity.

Why does Mustang Finance emphasize its deployment on Saga EVM?

The project describes Mustang Finance as a Liquity V2 fork built specifically for Saga EVM and presents MUST as native to that network. It emphasizes Saga EVM’s stated fast and free-to-use characteristics as relevant to the protocol’s deployment. Within this design, users can access collateralized borrowing and related stablecoin functions on the network, while governance-directed incentives are described as supporting liquidity for MUST.

Mustang metric comparison

This comparison is a stored snapshot generated 2026-10-23 06:30 UTC from 161 daily observations available from 2025-12-30 through 2026-06-13. It is separate from the latest analytical cards above. Percentiles compare the snapshot value with that day's analytical universe; a higher percentile means a larger observed value, not necessarily a better investment characteristic.

MetricSnapshot30d before90d beforeChange vs 30dUniverse percentile
Price$0.5030$0.5030$0.75730.0%n/a
Market cap$77.65M$77.65M$3.16M+0.0%P96.3
YearBull Rankn/an/an/an/an/a
Bull Scoren/an/an/an/an/a
Turnover0.00%0.00%0.11%0.0 ptsP0.5
YB Market Riskn/an/an/an/an/a
CycleStableStableStableUnchangedn/a

Median absolute daily movement 0.00%; distance from the highest local daily price -49.6%; circulating supply change 0.0%. These measurements are descriptive and do not predict future direction.

YearBull Rank timeline

No YearBull Rank value is available right now for mustang.

Rank timeline (last 365 days)
Rank history is still being collected.The rank timeline will appear after two valid daily YearBull Rank snapshots are available.

Rank change (daily snapshots).

Reading rule: smaller rank numbers are better.

  • 7d window: current rank not available.
  • 30d window: current rank not available.

Liquidity angle: If the line only moves on high-volume days, liquidity is a key filter. relative rank is sensitive to who is active in the window.

Where it trades: If the line is step-like, watch for discrete market changes. a new route can show up as a step change.

Cycle context: If both windows align, the direction is clearer. a stable phase often tightens the rank range.

Volatility posture: If the curve is step-like, it may be reacting to discrete inputs. ranking moves can reflect regime shifts rather than one-off events.

Practical note: read the move, then read the stability of the move.

YearBull Rank is a relative placement score used on YearBull to compare a coin against peers within the same dataset. Lower values mean higher placement in the YearBull ordering. Use it as positioning context over time, not as a promise.

Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy
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Mustang (MUST) Markets

Venue refresh pending. Markets last checked: 2026-05-01. The next refresh is queued in the hourly updater. Venue listings and volumes are stored snapshots, not live quotes.
Current YearBull daily analytics are not available for this asset yet; market listings have separate freshness.
No exchange markets were returned by the public venue source when last checked on 2026-05-01.