For a long time, "BSC has no big hair" has been the consensus in the wool circle.
If you spend a lot of energy on BSC ecological projects, you will be regarded by group members as a fool who doesn't know how to do anything.
However, with Lista listed on Binance, some conventions may be changing.
On May 23, Binance officially announced that the second phase of Megadrop will launch Lista (LISTA). Users can share 10% of the total tokens by staking BNB to complete Web3 tasks. The deadline is June 20.
There are two points to note here:
①Megadrop is Binance’s flagship product this year. The first phase of the project, BB, has already made participants taste the sweetness, and the yield of the second phase should not be bad either;
②Lista is the number one decentralized stablecoin protocol + liquidity staking platform on BSC. It has long been ignored by the hedge funds, but now it is directly connected to Binance, which is expected to bring huge returns to early supporters.
I vaguely remember that in June last year, I asked my group members to work on this project, and later I had an AMA with them. At that time, Lista was still called Helio. Not only did it not get investment from Binance, but it also lost a group of users due to the depegging incident. It was really hard to attract people with few people. Even today, many group members are still unfamiliar with this project.
Fortunately, a few group members persisted in investing in Lista before it received Binance’s investment, and participated in all kinds of activities, big and small. It is said that they have been looking at cars recently, which shows that choice is more important than hard work.
On the eve of Lista’s listing on Binance, let’s re-acquaint ourselves with MakerDAO on BSC. Please read the following four steps and remember to like them.
Chapter 1: Survival
Lista, formerly known as Helio Protocol, was founded in 2022. It is the issuer of the over-collateralized stablecoin HAY and aims to become MakerDAO on BSC.
Public information shows that the core members of the project have rich experience and achievements in blockchain technology, financial technology and operations management. The founding team also worked at Binance.
On December 2, 2022, Ankr was attacked, and an address used the Ankr vulnerability to exchange 10 BNB for 15.5 million BUSD. For a time, Helio was heavily absorbed by arbitrageurs due to the liquidity of hBNB and HAY, causing the stablecoin HAY to be seriously depegged to $0.2084.
The official immediately launched the HAY anchor recovery plan, repurchasing and destroying HAY from the market with real money, eventually bringing the HAY price back on track. The team also promised to use current and future income to cover any bad debts.
I have to say that the project team did a great job in handling the black swan incident. If it were any other team, they would have gotten away with it long ago and would not have covered the bottom line for users. From this perspective, the official structure is good, and I hope the airdrop will be great too.
Chapter 2: Strategic Merger
As the saying goes, what doesn't kill us makes us stronger.
After experiencing the depegging incident, Helio not only did not give up, but actively made amends to restore market confidence. In July last year, it announced a merger with liquidity staking provider Synclub to form the new LSDFi Foundation.
This merger is crucial to the development of Helio. Previously, their business was only centered around stablecoins, but after the merger, they entered the liquidity pledge track, filling the BSC LSTFI ecological airdrop and becoming an important infrastructure for the entire chain.
Specifically, users can stake BNB on Synclub to obtain SnBNB, and then continue to stake SnBNB on Helio to mint HAY, use HAY for liquidity mining, or use HAY to purchase BNB and then stake it. With the help of Synclub's professionalism and multi-chain deployment, Helio can more conveniently perform multi-chain integration, provide stablecoin users with seamless use of HAY, and support more LST token pledge and minting.
Looking back, Binance’s investment in Helio may be inseparable from this merger, because apart from some old DeFi projects, the BSC ecosystem has not had any new narrative for a long time. The merger of Helio and Synclub has brought new vitality to the entire BSC ecosystem.
Chapter 3: Binance Capital Injection
The month after the merger, Helio ushered in another turning point: Binance investment.
According to the announcement, Binance Labs invested $10 million in Helio to help the protocol continue its transformation into a liquidity staking platform.
With the support of Binance, Helio's future development will be smooth, its business lines will become more mature, and it will continue to polish the composite product of "liquidity staking protocol + decentralized stablecoin lending protocol".
Specifically, users can stake BNB to earn PoS staking income and obtain liquidity staking certificates, while also using various LSD assets as collateral to mint stablecoins.
In February of this year, Helio was renamed ListaDAO (derived from the combination of "liquid+staking"), and at the same time upgraded the token contract, renamed HAY to lisUSD, and SnBNB to slisBNB.
At this point, their ambition is no longer limited to becoming MakerDAO on BSC, but to build a leading CDP stablecoin and LSDfi provider to make it easier for everyone to use DeFi.
Chapter 4: Direct Access to Binance
After three years of hard work, Lista finally had the last laugh.
On May 23, Binance officially announced that the second phase of Megadrop will launch Lista (LISTA). Users can share 100 million $LISTA by staking BNB and completing Web3 tasks.
Referring to the token model, the total supply of LISTA is 1 billion, with an initial circulation of 230 million. The Binance Megadrop quota accounts for 10% of the total token supply. Among other types of distribution, airdrop accounts for 10%.
Judging from the distribution ratio, the official has prepared enough chips for the Binance Megadrop event, showing full sincerity. Although the rewards for a single number are not big, there will definitely be some money to be made. Those who have the conditions have already used multiple numbers to get it.
