Ask about Mustang Finance · freeMustang FinanceDeprecated protocol
Key Metrics
Cumulative Fees$413,102
Cumulative Fees by chain
Saga$413,102
Cumulative Revenue$0
Cumulative Revenue by chain
Saga$0
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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:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Total interest, redemption fees paid by borrowers and liquidation profitView code on GitHubRevenue: Share of borrow interest to protocol if anyView code on GitHubMustang 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
| Date | TVL |
|---|---|
| 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
| Date | TVL |
|---|---|
| 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
| Month | Fees | Revenue |
|---|---|---|
| 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.