What is Lista DAO?​

Lista DAO functions as a open-source liquidity protocol for earning yields on collateralized Crypto assets (BNB, ETH, Stablecoins, and other cryptocurrencies) and borrowing of our decentralized stablecoin, lisUSD, also known as a "Destablecoin".

It uses and expands the proven MakerDAO model for a decentralized, unbiased, collateral-backed destablecoin.

The protocol consists of a dual token model (lisUSD and LISTA) and a set of mechanisms that support instant conversions, asset collateralization, borrowing, yield farming, etc. We are native to the BNB Chain ecosystem and have plans to expand to multiple chains in the near future.

The protocol is built by DeFi and smart contract experts with the aim to position the world-class revolutionary lisUSD Destablecoin as the most widely used one, by leveraging Proof-of-Stake (PoS) rewards and yield-bearing assets.

What is destablecoin?​

Destablecoin is a new type of asset class within the crypto space that seeks to label a more accurate term in the current stablecoin landscape. The prefix “de-” stands for decentralized - it does not signify price volatility the way assets such as BTC experience. Destablecoins utilize decentralized, liquid-staked, crypto assets only as collateral and do not aim to achieve absolute price stability with fiat-based currencies such as USD. While destablecoins are not fully volatile assets, they will allow for some price fluctuations as regular fiat currencies would experience with varying reference rates and interest rate parities defined by the open market.

What’s the difference between destablecoin and stablecoin?​

Destablecoins differ from the conventional 4 stablecoin types currently in the market. There are four main types of stablecoins:

Fiat-backed (BUSD)

Crypto-backed (DAI)

Algorithmic (USDD)

Commodity-backed (PAXG).

Like other crypto-backed stablecoins, destablecoins will utilise the overcollateralized model backed by crypto assets such as DAI. However, the key differences are:

Destablecoins are fully decentralized. Crypto-backed stablecoins such as DAI leverage on centralized crypto assets such as USDC, while destablecoins such as lisUSD will use decentralized assets as collateral. Additionally, destablecoins will also leverage liquid-staked assets.

Secondly, destablecoins aims to achieve stability broadly without an absolute peg fiat currencies. All currencies are different and have varying reference rates, so price fluctuations should be considered a norm defined by the market instead of aiming for a sense of absolute price stability at all cost. Similarly with destablecoins, it does not aim to achieve absolute price parity with US $1 as a primary objective nor rely on fiat assets as the backed collateral.

Lista DAO allows users to:

  • Collateralise BNB.

  • Borrow lisUSD

  • Farm lisUSD

  • Repay the loan (lisUSD + borrowing interest (currently set at 0%).

  • Withdraw collateral

  • Claim reward in Lista for borrowing lisUSD (coming soon)

  • Participate in protocol governance, using LISTA tokens (coming soon)