Just discovered that @ListaDAO is doing task rewards at Binance Square. Check the details, #ListaDao has surprisingly become the largest on-chain ecosystem center for the Trump family #WorldLibertyFinancial stablecoin $USD1.
Lista Dao provides solutions for lending, staking, and CDP, etc.
CDP stands for Collateralized Debt Position, which is generally translated into Chinese as 抵押债仓 or 抵押债务仓位.
Its mechanism is:
1. Users deposit assets (such as ETH, BTC, stablecoins, etc.) into a smart contract.
2. The smart contract allows users to borrow another asset (usually a stablecoin like DAI) at a certain ratio of the collateral value.
3. This process is equivalent to opening a "debt position," and the collateral will be locked in the contract until you repay the borrowed asset (plus interest/fees).
4. If the value of the collateral falls below the liquidation line, the system will automatically liquidate the collateral to repay the debt, avoiding bad debts.
So it can be seen that stablecoin USD1 uses the solution from Lisa Dao, which is also to facilitate both individual and institutional users holding USD1 to stake USD1 to borrow other currencies, or conversely stake other cryptocurrencies to borrow USD1.
It was found that #WorldLibertyFinancial officially announced its cooperation with Lisa Dao on May 7.
Lista Dao is a project that has already issued a token, token $LISTA .
That said, I might be too ignorant; if it weren't for them promoting rewards at Binance Square, I really hadn't used or heard of Lista Dao before, nor did I know that Lista Dao has already become the first on-chain ecosystem for USD1, which is worth paying attention to.