Preface:
In recent years, the lending and liquidity pledged derivatives (#LSD ) fields in the field of decentralized finance (#DEFİ ) have made significant progress in the past two years, attracting a large number of users and capital. . The lending protocol improves the efficiency of fund use, while the LSD platform solves the lack of liquidity problem of traditional pledges through liquidity staking. In this context, $LISTA DAO combines the advantages of over-collateralized lending and LSD to provide users with a multi-functional financial platform to promote the further development of the decentralized economy. #Lista启航新纪元
Project Description:
The DAO is an open-source decentralized stablecoin lending protocol and the liquidity hub for LSDfi on the BNB Smart Chain. Users can stake their BNB liquidity on Lista to mint $slisBNB, or borrow $lisUSD with a variety of decentralized collateral assets and their associated LST.
Its core vision is to use BNB as a starting point to explore various application scenarios such as stablecoins and re-staking in the context of liquidity staking, and ultimately establish a low-threshold LSDfi protocol on multiple chains.
Related Links
Website：https://lista.org
X/Twitter: https://x.com/LISTA_DAO [270,000 followers]
Telegram: https://t.me/ListaDAO [1013 online/31230 total people]
Discord: https://discord.com/invite/listadao【1277 online/60860 total people】
Github: https://github.com/lista-dao [Maintenance progress]
team member:
Toru Watanabe 【Founder and CEO】
Terry Huang 【Co-founder and COO】
Bob [Product Owner]
Lorena [Lista DAO BD Director]
Financing Background:
Lista DAO【LISTA】formerly known as Helio Protocol was established in 2022.
On August 11, 2023, Binance Labs announced a $10 million investment in Helio Protocol [now Lista DAO].
Helio Protocol merged with Synclub, a staking infrastructure and liquid staking provider on the BNB chain, to form Lista DAO.
core advantages:
Lista DAO is an open-source liquidity protocol that focuses on allowing users to use crypto assets (such as BNB, ETH, stablecoins and other cryptocurrencies) as collateral to earn returns and provide decentralized lending stablecoin lisUSD, also known as "destablecoin".
Overcollateralized Borrowing
Overview
Lista DAO uses an over-collateralization model to ensure the stability and security of the system, and borrows the stablecoin LISUSD by staking [ETH/BNB/WBETH/BTCB/slisBNB]. This over-collateralization model ensures the stability and security of the system and prevents the risk of loan default, similar to MakerDAO's DAI.
(As of June 27, the TVL of pledged assets on ListaDAO has exceeded $300 million)
Decentralized Stablecoin [LISUSD]
LISUSD is Lista DAO’s decentralized stablecoin, using decentralized liquid staked crypto assets as collateral.
(Currently supporting LisUSD’s liquidity mining platforms: [Magpie] + [Thena] + [Wombat])
If there is a chance in the future, I can give you a complete tutorial on LisUSD Defi application scenarios.
Innovation Zone
Integrate Liquidity Staking Derivatives (LST) and Liquidity Re-staking Tokens (LRT) into the ecosystem.
Currently online [weETH/ezETH/STONE/solvBTC] will conduct weekly assessments to determine whether the collateral is qualified. If it is not qualified, the lending function will be suspended, but it will not affect the repayment and withdrawal functions.
(As of June 27, the value of mortgaged assets in the Innovation Zone has exceeded US$10 million)
Liquid Staking
Overview:
Pledge BNB and other crypto assets to obtain liquidity pledge certificates (such as sLISBNB). Not only can it be used within the Lista DAO platform, but it can also be used on other DeFi platforms for lending, providing liquidity, and other operations, while still receiving pledge rewards.
Liquidity pledge certificate [sLISBNB]
How to obtain: Users can obtain sLISBNB by staking BNB
Usage scenarios: Users can not only use sLISBNB for lending, liquidity provision and other operations on various DeFi platforms, but also obtain BNB staking income on the Lista DAO platform and income from participating in other DeFi platforms.
Economic Model:
Token Economic Model
LISUSD: The platform's decentralized stablecoin that provides liquidity and lending in the DeFi ecosystem.
slisBNB: The native yield and liquidity staking token for BNB on Lista DAO.
LISTA: Mainly used for payment and settlement within the ecosystem, governance voting, and to incentivize user participation and contribution.
According to a research report released by Binance Research, Lista DAO’s native token LISTA is a BEP-20 token with a total supply of 1,000,000,000. The specific distribution is as follows:
Binance Megadrop: 100,000,000 LISTA, 10% of total supply;
Airdrop: 100,000,000 LISTA, 10% of total supply;
Investors and Advisors: 190,000,000 LISTA, 19% of the total supply;
Team: 35,000,000 LISTA, 3.5% of the total supply;
Community: 400,000,000 LISTA, 40% of the total supply;
DAO Treasury: 80,000,000 LISTA, 8% of total supply;
Ecosystem: 95,000,000 LISTA, 9.5% of total supply.
Lista DAO TVL Data Overview [June 27]
Lista DAO TVL data:
Lista Total TVL: $534 million
BNB pledged amount: 394,663
BNB Staked TVL: $226 million
Liquid Staking TVL data:
slisBNB is the native yield and liquidity staking token for BNB on Lista.
slisBNB’s appreciation of BNB is consistent with BNB’s staking APR, giving users the freedom to earn extra yield on different DeFi platforms while passively receiving staking rewards.
slisBNB has seen a rapid growth in liquidity pledge TVL data since January this year, from the initial 40 million US dollars to 260 million US dollars in half a year. Currently, the cumulative number of pledged depositors has reached 600,000. According to BNB pledge data, the number of people with 0.01BNB-0.1BNB accounts for 53.1%.
Lending/Borrowing and Stablecoin TVL Data
LisUSD is Lista’s decentralized stablecoin, pegged to the US dollar and overcollateralized by crypto assets such as BNB, ETH, slisBNB, and wBETH.
Users can stake lisUSD in the lisUSD single staking pool to earn yield, or provide liquidity for lisUSD in various liquidity pools to further obtain transaction and LP fees.
From the perspective of the overall collateral TVL, BNB and slisBNB occupy the majority of the collateral share. The total TVL is $300 million, the total loan assets are $40 million, and the collateral ratio is around 789%.
The number of LisUSD holders has increased from 18,000 on January 1, the beginning of the year to 16,000 so far, and the supply has increased from 200 million to 680 million, a year-on-year increase of 340%. The cumulative TVL of LisUSD has increased from US$9 million to US$30 million, a year-on-year increase of 333.3%.
Extended analysis [DYOR]
1. Benefits and rights of LISTA holders [Token empowerment]:
1. Participate in platform governance
Users holding LISTA tokens have voting rights in protocol governance and can directly participate in and decide key governance decisions of the protocol, including selecting collateral types, adjusting token emission strategies, etc. This decentralized governance mechanism ensures that token holders can have a real impact on the development direction of the platform.
2. veLISTA lock-up mechanism
Users can convert LISTA tokens into veLISTA, which provides the following benefits and rights:
Enhanced voting rights: After locked LISTA is converted to veLISTA, the user’s voting rights will be enhanced according to the lock-up time. The longer the lock-up time, the greater the voting rights.
Revenue Sharing: veLISTA holders are entitled to the revenue distribution generated by the protocol, which will be distributed to veLISTA holders in proportion after deducting operating expenses, increasing the benefits of veLISTA holders.
Incentives: veLISTA holders can receive additional incentives, including various forms of rewards, such as yield mining rewards, rewards for participating in specific activities, etc.
3. Listapie Incentive Mechanism
Before veLISTA is officially launched, LISTA token holders can stake their tokens on the Listapie platform, through which users can receive multiple levels of rewards, including:
Lista stardust: A token used to reward holders.
Listapie airdrop: The platform issues airdrop rewards to stakers from time to time.
IDO Quota: Token holders have the opportunity to participate in early-stage project investments and obtain quotas of project tokens.
Special Events: Coin holders can also participate in the platform’s special events on Galxe and share generous rewards (such as a 5,000 USDT reward pool).
LISTA token holders can not only participate in platform governance, veLISTA lock-up mechanism, Listapie incentives, liquidity mining and other methods, but also obtain multi-level benefits and rights.
2. The future prospects of slisBNB
1. Market demand and growth potential
With the strong development trend of Binance and BSC ecology, the utilization rate of BNB and the return on investment of users are the focus of attention. Lista DAO is currently the largest LSD staking project in the BSC ecology, and as the application scenarios of slisBNB increase, slisBNB will usher in better prospects and development opportunities.
2. Diversified application scenarios
slisBNB can already be used in various DeFi protocols on BSC, including lending platforms, decentralized exchanges (DEX), yield farming, etc., greatly enhancing its applicability and demand in the DeFi ecosystem.
3. Community DAO Governance
Lista DAO's governance mechanism allows community members to participate in decision-making and promote the continued development and optimization of slisBNB. A precise and continuous user base is the cornerstone of a project's development. Community support and participation can greatly enhance the ecological construction of slisBNB and jointly promote its development in the DeFi market.
3: Lista DAO’s future trend in liquidity staking
First, you can take a look at the TVL and trend of the entire #LSD track through the following figure.
From the beginning of 2023 to the middle of 2024, after Ethereum 2.0 POW switched to POS, the entire LSD track showed a rapid development trend. From the initial growth of 7.5B to the current 53B, a year-on-year increase of 706%.
In the LSD track's overall 55.3B TVL, Lido accounts for 33.6B, a market share of 60.7%, and is undoubtedly the leader in the track. Among them, slisBNB ranks 18th in the entire track, with a total TVL of only 239M.
Comparison of TVL data of liquidity pledge of each chain
#Liquid Staking TVL：53.15 B
Ethereum Chain Total TVL: 45.88 B
Solana Chain Total TVL: 3.594B
BSC Chain Total TVL: 895.23M
BSC only accounts for 1.7% of the liquidity staking track of each chain, and Lista DAO, as the Top1 liquidity staking platform of the BSC chain, has great potential and development prospects in the entire track!
Summarize:
As a decentralized finance (DeFi) project, Lista DAO provides users with a versatile financial platform by combining the advantages of over-collateralized lending and liquidity staking (#LSD ). Its core advantages include efficient asset utilization, diversified application scenarios, strong incentive mechanisms, and decentralized governance models. With the continued development of the Binance and BSC ecosystems, and with the investment background of $10 million from Binance, I believe that the application scenarios of slisBNB and lisUSD will be further expanded, and more users and capital inflows will be attracted, so as to promote Lista DAO's strong competitiveness and broad development prospects in the liquidity staking track.