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Summerstone extends rate management to Mustang

· 2 min read
Summerstone Team
Summerstone Team

Summerstone is extending rate management services to Saga's native stablecoin MUST.​


Mustang Finance & MUST, built for Saga​

Mustang Finance is bringing Liquity V2-based borrowing to Saga EVM. Through the CDP, Saga users can mint the stablecoin MUST, with a rock-solid USD peg.

The MUST stablecoin can be minted by depositing one of seven types of collateral: WETH, yETH, tBTC, wSAGA, wstAtom, KING and yUSD. Once deposited, users can open a trove setting their own interest rates without relying on governance or on any specific algorithm.


How can Saga Users Benefit from Summerstone​

Summerstone aligns with user's, reducing their overall borrowing costs through calculating precise, reliable rates.

We do so by:

→ 24/7 monitoring: Our solvers monitor all troves, system parameters, market conditions and outside debt to have a holistic view of the system's status.

→ Optimized rate tuning: We spread out the amount of changes and keep borrowing costs as low as possible while protecting against redemptions, the automatic peg-stabilization mechanism used by Mustang Finance.

At any point, our solvers are prepared to trigger rate adjustments of our managed troves.


Get started using Summerstone Rate Management on Mustang​

  1. Head to app.must.finance and connect your wallet.
  2. Pick your collateral, and amount to borrow.
  3. Set your interest rate as "Delegated" and pick the Strategy Delegate Address of your chosen collateral from the Summerstone Docs.

Alternatively, you can try out the Summerstone Wizard 🧙‍♂️: a new interface to delegate rate management of your Liquity-based loans. All in one place. We currently support Liquity, Mustang Finance, Nerite, Soneta.

Read more about Mustang on docs.must.finance