Lista DAO is the second project listed on Binance's Megadrop platform.
1. What is Lista DAO?
Lista DAO, formerly Helio Protocol, is an open-source liquidity protocol built on BNB Chain, allowing users to earn profits by collateralizing crypto assets like BNB, ETH, stablecoins, etc., and borrowing lisUSD, the protocol's centralized stablecoin, also known as "destablecoin."
Lista DAO operates based on a 2-token model (lisUSD and LISTA) and a set of mechanisms supporting instant conversion, asset collateralization, borrowing, farming profits, etc. Currently, this protocol operates on the BNB Chain ecosystem and plans to expand to many other ecosystems in the future.
Destablecoin - A new concept in the market
Destablecoin is a new type of asset in the cryptocurrency field, created to more accurately describe existing stablecoins. The prefix "de-" in destablecoin means decentralized. Destablecoin uses decentralized liquidity collateralized assets as collateral rather than attempting to maintain an absolute exchange rate with fiat currencies like USD. Although not completely volatile, the price of destablecoin can still fluctuate slightly, similar to conventional currencies influenced by reference exchange rates and interest rate differentials determined by the open market.
How does destablecoin differ from stablecoin?
Like other cryptocurrency-backed stablecoins, destablecoin uses an over-collateralization model with digital assets as collateral, similar to DAI. However, the main difference lies in:
Complete decentralization: Destablecoin uses 100% decentralized assets as collateral. This is in stark contrast to some stablecoins like DAI, which use centralized assets like USDC as collateral.
Wider stabilization goals: Destablecoin aims for overall stability rather than being fixed to a specific fiat currency. Destablecoin does not aim to fix the price of 1 destablecoin to 1 USD and does not rely on fiat assets as primary collateral.
2. Products of Lista DAO
Liquid Staking
Lista DAO offers users the opportunity to stake BNB tokens to receive attractive APR profits ranging from 1% to 3% in the form of slisBNB tokens. slisBNB is a Liquid Staking token capable of generating profits, similar to Rocket Pool's rETH. The value of slisBNB will gradually increase over time due to accumulating staking rewards from BNB Chain and is not fixed to the price of BNB tokens.
Operating process:
Users stake BNB on Lista DAO: Lista DAO will delegate the staked BNB to validators operating the Proof of Stake (PoS) network of BNB Chain. Validators receive BNB rewards for operating the network. Lista DAO will distribute the BNB rewards received: 95% for users staking BNB and 5% retained for Lista DAO's fund. Users receive slisBNB - representing their staking profits and positions.
Stablecoin lisUSD
LisUSD is a destablecoin issued by Lista DAO, minted when users collateralize assets into the protocol and will be burned when borrowers repay to complete the loan or when their loan position is liquidated.
Types of assets that can be collateralized to mint lisUSD are divided into 2 categories:
- Classic Collateral: ETH, BNB, wBETH, slisBNB, and BTCB.
- Innovation Zone: weETH, ezETH, and STONE.
5. Development team and investors
The development team of Lista DAO includes:
Toru Watanabe: The CEO and founder of Lista DAO
Terry Huang: He is the COO and co-founder of Lista DAO, having worked for Binance for 3 years.Investor: The investor of Lista DAO (Helio). Source Crypto FundraisingInvestor of Lista DAO (Helio). Source Crypto Fundraising
Lista DAO (Helio) raised $10 million from a single investor, which is Binance Labs.
6. Tokenomics
Token name: Lista DAO
Symbol: LISTA
Blockchain: BNB Chain
Contract: Updating…
Total supply: 1,000,000,000 LISTA
7. Token allocation ratio: Token allocation ratio LISTAToken allocation ratio LISTA
Token LISTA is allocated as follows:
Megadrop
After BounceBit, Lista DAO is the second project launched on Binance's Megadrop platform. Some information about LISTA Megadrop is as follows:
Megadrop duration: From 7 AM on May 30 to 7 AM on June 19 (Vietnam time).
Ways to participate in Megadrop: Lock BNB or complete Web3 tasks.
Token LISTA listing time: 5 PM on June 20 (Vietnam time).
Rewards will be distributed at 1 PM on June 20 (Vietnam time)