Score withheld

Mustang

MUST

Stablecoin, stable asset weights

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.28–

Transparencywithheld×0.24–

Revenuewithheld×0.08–

Innovationwithheld×0.08–

Communitywithheld×0.12–

Tokenomicswithheld×0.20–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Mustang

Analysis of 10 May 2026

Mustang (MUST) is a crypto-backed stablecoin built natively on the Saga EVM network, designed to maintain a $1.00 peg through direct redemption for underlying collateral including tBTC, ETH, liquid staking tokens (LSTs), and liquid restaking tokens (LRTs). Unlike traditional stablecoins backed by real-world assets, MUST is entirely crypto-native and permissionlessly redeemable by anyone at any time.

Full overviewShow less

The protocol operates on Saga's fast and fee-free EVM chain, targeting users seeking decentralized stability without reliance on centralized banking infrastructure. In January 2026, the Saga chain experienced a security exploit that paused the network, though MUST contracts remained unaffected directly.

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