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Mustang FinanceDeprecated protocol

Key Metrics

Cumulative Fees$413,102
Cumulative Fees by chain

Saga$413,102

Cumulative Revenue$0
Cumulative Revenue by chain

Saga$0

Protocol Information

Mustang is the Saga native decentralized stablecoin protocl. MUST is always pegged to $1.00. It is over-collateralized, yield-bearing, and redeemable for $1 worth of collateral at any time.

Category:CDP

Audits:

Mustang Finance history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 28, 2025 to Jun 10, 2026.

All-time high TVL: $17.11m on Jan 14, 2026. All-time low TVL: $982,311 on Dec 2, 2025.

Daily TVL, May 12, 2026 to Jun 10, 2026

DateTVL
May 12, 2026$0
May 13, 2026$0
May 14, 2026$0
May 15, 2026$0
May 16, 2026$0
May 17, 2026$0
May 18, 2026$0
May 19, 2026$0
May 20, 2026$0
May 21, 2026$0
May 22, 2026$0
May 23, 2026$0
May 24, 2026$0
May 25, 2026$0
May 26, 2026$0
May 27, 2026$0
May 28, 2026$0
May 29, 2026$0
May 30, 2026$0
May 31, 2026$0
Jun 1, 2026$0
Jun 2, 2026$0
Jun 3, 2026$0
Jun 4, 2026$0
Jun 5, 2026$0
Jun 6, 2026$0
Jun 7, 2026$0
Jun 8, 2026$0
Jun 9, 2026$0
Jun 10, 2026$0

TVL at each month end, Nov 2025 to Jun 2026

DateTVL
Nov 30, 2025$985,595
Dec 31, 2025$6.28m
Jan 31, 2026$11.3m
Feb 28, 2026$0
Mar 31, 2026$0
Apr 30, 2026$0
May 31, 2026$0
Jun 10, 2026 (latest)$0

Fees and revenue by UTC calendar month, Dec 2025 to Jan 2026

MonthFeesRevenue
Dec 2025$6,671$0
Jan 2026$406,431$0

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/mustang-finance

Frequently asked questions

What is Mustang Finance's TVL?

As of Jun 10, 2026, Mustang Finance has $0 in total value locked.

What chains does Mustang Finance operate on?

Mustang Finance operates on Saga.