Mustang Finance

Mustang Finance ports Liquity's playbook onto the Saga chain. It issues a dollar stablecoin built on Liquity V2's design, deployed on the Saga EVM. The model follows the same interest-bearing trove pattern: users open over-collateralized positions, lock collateral and mint the stablecoin as onchain debt, with the peg held by liquidations, redemptions and arbitrage rather than any reserve account. There is no legal issuer and no KYC; redemption is a permissionless onchain mechanism where holders can claim a dollar of collateral value from the riskiest positions, the arbitrage force that pulls the price back to one dollar. As a smaller, single-chain deployment on Saga, it inherits Liquity's credibly neutral, governance-minimal architecture. Mustang is best understood as one of several Liquity V2 forks bringing that borrowing model to newer app-chains.