Lista DAO: The leading LSDFi in the BNB ecosystem, how to ignite the market with 'three mining' yields?
A key project funded by Binance Labs with $10 million, redefining the on-chain yield logic of BNB.
Hello everyone, I am your Web3 investment analysis host. Today, we will deeply analyze a core protocol of the BNB ecosystem that may be the most worth laying out in 2024—Lista DAO.
Why is Lista DAO worth your high attention?
Lista DAO is not just another DeFi protocol. It originated from the Helio Protocol in 2022 and was revitalized after merging with the liquidity staking provider Synclub on the BNB chain in July 2023. The name 'Lista' itself comes from the combination of 'Liquid Staking', accurately revealing its core mission.
More importantly, it received a $10 million investment from Binance Labs in August 2023 to transform into a liquid staking platform and expand multi-network support. One of the two founders, Terry, previously worked at Binance Labs for 3.5 years as a project lead. Its 'pedigree' background and resource support are self-evident.
The core gameplay and astonishing returns of Lista DAO
The core business of Lista DAO revolves around two major areas: liquid staking and decentralized stablecoin lending.
1. Liquid staking: Unlocking the dormant value of BNB
You can stake BNB on Lista DAO to obtain the liquid staking certificate slisBNB. This is not just a certificate; it is also your key to obtaining multiple yields.
BNB chain native PoS staking yield: The value of slisBNB will continue to appreciate with the accumulation of BNB staking rewards.
DeFi mining yields: You can put slisBNB into liquidity pools on DEXs like PancakeSwap and Thena to earn additional LP fees and trading commission income.
Binance Launchpool yields: This is the exclusive ace of slisBNB. Starting from the end of July 2024, Binance officially announced that slisBNB held in users' Web3 wallets will directly count towards Launchpool reward calculations. This means you can seamlessly participate in Binance centralized exchange's Launchpool new investments while enjoying on-chain DeFi yields, truly achieving the combination of 'CeFi + DeFi' yields.
Triple yield stacking makes simply holding BNB or purely staking on-chain incomparable. As of early October, data shows that the number of BNB staked in slisBNB has exceeded 413,000.
2. Stablecoin lending and CDP system
Lista DAO allows you to borrow decentralized stablecoin lisUSD by over-collateralizing assets. Supported collateral includes classic assets such as ETH, BNB, slisBNB, as well as innovative assets like weETH, ezETH, and STONE.
The original intention behind the design of LisUSD is to become the number one stablecoin in the cryptocurrency space, adopting and expanding on the market-validated MakerDAO model. Currently, the total value locked (TVL) on Lista DAO has surpassed $420 million, ranking fourth in the BSC chain ecosystem, showcasing its strong market appeal and user trust.
LISTA token: Potential opportunities under high circulation and low market value
The LISTA token is the governance token of the Lista DAO ecosystem, with a total supply of 1 billion tokens and an initial circulation of 230 million tokens (23% of the total). Its distribution model is considered very community-friendly.
Binance Megadrop: 10%
Airdrop: 10%
Investors and advisors: 19% (of which only 1% is unlocked at launch, the rest locked until June 2025)
Team: 3.5% (all locked for one year)
Community: 40%
DAO Treasury: 8%
Ecosystem: 9.5%
A significant feature of this distribution structure is that most tokens are allocated to community and ecological development, while the proportion of tokens held by the team and investors is relatively low, with strict unlocking conditions. This somewhat alleviates early market selling pressure and provides a good foundation for the stability of token prices.
The value capture of LISTA is mainly reflected in:
Governance rights: Holders can participate in voting governance of key parameters of the protocol.
Protocol incentives: Earn LISTA rewards by participating in lending and liquidity mining.
Fee sharing: Lock LISTA to obtain veLISTA, thereby sharing the fee income generated by the protocol.
Lista DAO has adopted the veToken model (veLISTA), where the longer users lock LISTA, the more veLISTA they earn, and the greater their voting rights and income rights. This helps encourage long-term holding and reduces market circulation. As of the end of August, over 53.73 million LISTA have been locked, with a locking rate of 14%.
Opportunities and risks: How to view them rationally?
🚀 Core Opportunities
Strong ecological position and integration capability: As a key project supported by the Binance ecosystem, Lista DAO is deeply bound with the BNB chain, and its slisBNB becomes a unique bridge connecting CeFi and DeFi, an advantage that is difficult for other projects to replicate.
Product iteration and innovation: The project team continuously launches new features, such as collaborating with Karak to explore re-staking, launching clisBNB to further release the potential of new investments during BNB lending, and updating the AMO module to optimize the stability of lisUSD, demonstrating strong innovative capabilities.
The potential of the track is huge: LSDfi and re-staking are clear development trends in the current DeFi space, and Lista DAO has positioned itself accurately.
⚠️ Potential Risks
Smart contract risks: Like all DeFi protocols, smart contracts may have undiscovered vulnerabilities.
Collateral and liquidation risks: Over-collateralized lending systems may face liquidation pressure under extreme market fluctuations.
Competition risks: There are many competitors in this field, such as established protocols like MakerDAO (Sky) and Liquity, which are also constantly evolving.
Decoupling risks: Although lisUSD has designed multiple mechanisms to maintain its peg, algorithmic stablecoins have historically experienced decoupling events multiple times, necessitating continued attention to the actual performance of its stability mechanisms.
Conclusion: How should we layout now?
Lista DAO is not just a protocol; it is also an infrastructure for BNB ecosystem yields. Through a set of combined strategies, it maximizes the potential returns of BNB, providing investors with unprecedented convenience and layers of returns.
For those seeking early opportunities, Lista DAO offers an excellent window to participate in the development dividends of the BNB ecosystem. Its token economics model is community-oriented, with a relatively controllable early circulation, coupled with strong background support, making it worth in-depth study and attention.
Have you participated in the Lista DAO ecosystem? Was it by staking BNB to get slisBNB, or do you already hold LISTA and have locked it as veLISTA? Feel free to share your thoughts and operational strategies in the comments!
Learn more:
Lista DAO Official Website: https://lista.org/
Lista DAO Official Twitter: https://x.com/lista_dao
