This unique combination of engagement, education, and rewards makes Megadrop a great interactive experience within both Binance and the broader cryptocurrency ecosystem.
The second project introduced on Binance Megadrop will be Lista (LISTA), a decentralized stablecoin and liquid staking protocol.
Users can subscribe BNB to locked products or complete tasks in Web3 Wallet to receive early rewards from selected Web3 projects, before their tokens are listed on the Binance exchange.
The project also opens the door to Restaking and LSD projects on other blockchains besides Ethereum, and introduces an interesting concept called “Destablecoin”.
So what is outstanding about the Lista project? Please join us to find out
What is Lista?
Lista DAO is an LSDfi protocol built on BNB Chain. The project was previously renamed from the Helio project - a stablecoin issuance protocol (which merged with Synclub - a Liquid Staking platform on BNB Chain previously on July 4, 2023), invested by Binance Labs in 2023
Outstanding features of Lista
Destablecoin
Destablecoins are an asset class that is not intended to achieve absolute price stability with fiat-based currencies such as USD (stablecoins).
That said, they do allow for some price volatility as regular fiat currencies will experience different reference rates and interest rate differentials.
Destablecoin will use an over-collateralized model backed by crypto assets such as DAI. What differentiates it from DAI is that it is completely decentralized and seeks stability not through a specific fiat peg.
In Lista DAO, this token is called lisUSD.
lisUSD
Although it does not rely on fiat money to help stabilize the token, destablecoin lisUSD is no more susceptible to instability or instability than stablecoins.
Price stabilization mechanism of lisUSD
Lista can maintain the $1 value of lisUSD against USD in the following cases:
When lisUSD > $1, lisUSD supply increases:
Because lisUSD has a higher price, borrowers are encouraged to borrow more lisUSD to sell for other assets to create arbitrage opportunities.
To reduce the need to farm lisUSD, Lista will reduce the reward for farming lisUSD by reducing interest on lisUSD loans.
When lisUSD < $1, lisUSD supply decreases:
Because lisUSD is worth less, borrowers are encouraged to buy lisUSD to repay debt.
To reduce the need to borrow lisUSD, Lista will increase the interest on borrowing lisUSD, which increases the reward for farming lisUSD.
Liquid Staking model
The intention behind Lista DAO is to propose a solution to the problem of capital efficiency by allowing users to leverage their capital with collateralized debt positions (CDP).
Thanks to Liquid Staking, Lista will avoid problems such as frozen funds during the regular Staking process.
Using Liquid Staking $BNB on the platform will have the following advantages:
Minimum Stake requirement is lower than regular Stake
Ability to access large sources of liquidity
There will be benefits that will be updated soon (most likely Airdrops and admin rights)
Currently the project has an APR of 2.11%.
Many other profit-increasing functions from lisUSD
Besides Liquid Staking, Lista also has many other features, allowing users many options to earn more income:
Borrow lisUSD (details on how to do so see here)
Farm lisUSD: The project currently supports farming on Magpie, Quoll, Thena and Wombat
Boost vault: helps users receive swap fees from others and earn additional rewards from Staking LP tokens.
Collateral to borrow lisUSD
To enhance the security of Lista DAO and diversify TVL, the project will integrate the following LST assets as collateral:
slisBNB (List)
BNBx (Stader)
stkBNB (Pstake)
wWHET (Binance)
ankrBNB (Ankr)
Information about tokens
Token metrics
Token name: List Token
Ticker: LISTA
Blockchain: BNB Chain
Token Standard: BEP-20 and ERC-20
Contract: Updating…
Token Type: Utility, Governance
Total Supply: 1,000,000,000 LISTA
Circulating Supply: 230,000,000 LISTA
Token Distribution
Token Allocation
Roadmap
Q2/2024
Focused on building a safe and secure protocol with solid liquidity and strong utility for lisUSD on BNBchain.
Integrate ETH LST and corresponding LP tokens as collateral options for lisUSD
Upgrade smart contracts for more scalability
Cross-chain approach
Convert source code from Maker DAO to Liquity.
Q3/2024
Introducing BNB and LRT Restaking.