By March 2025, BNB Chainās DeFi ecosystem is home to $5.32B TVL, but within that, lending makes up only $ 1.855 B. This is far behind Ethereum, which has 50% of the $46B in lending, or Base, which has $1.2B of $ 2.9 B.
This gap is a sign of a large untapped market on BNB Chain for better rates, collateral options, and security. Out of that void steps in Lista Lending from Lista DAO, which can be seen as a decentralized and flexible protocol to realize BNB Chainās DeFi fully.
Market reaction to Lista Lending
On April 11th, Lista DAO rolled out Lista Lending, which is the new lending platform for the BNB Chain LSDFi ecosystem, and the market reaction was instant. The initial BNB supply of $10 million was gone in just an hour.
Within the space of 4 days, deposits were over $189 million, and the borrow amount went up to over $120 million. CZ put out a post in support, backing the product.
What is Lista Lending?
Lista Lending is at the top of the table in terms of performance and innovation in the P2P space on the BNB chain.
Lista Landing has an advanced and open P2P model with smart interest rate algorithms. This, in turn, boosts capital efficiency, reduces borrowing rates, and provides better protection for borrowers.
Structure
Lista Lending has a two-tier structure. It is designed so suppliers can put assets into vaults, which earns them interest. This also allows them to lend out to different markets, which in turn allows borrowers to take out over-collateralized loans.
Vault Layer
The vault layer aggregates liquidity per vault for each asset (for example, BNB) that they put forward.
Market Layer
The market layer grants permission for the creation of separate lending markets (for example, BTCB/WBNB). These lending markets have their own set of parameters, including liquidation thresholds and interest models.
Current vaults
ListaāÆLending now offers two vaults: BNB Vault and USD1 Vault.
BNB Vault
BNB Vault is home to over $169 million in deposits. Suppliers see the return on their investment, which in turn allows borrowers to access WBNB by way of using BTCB, PT-clisBNB, or solvBTC as collateral.
USD1 Vault
USD1 Vault is introducing USD1 (a USD-pegged stablecoin) to the BNB Chain for the first time, which opens up a new on-chain use for the token.
Highlights of using Lista Lending
When there is Binance launchpool action, the BNB borrowing demand goes up, which at times sees APYs hit 29%. With Lista Lending, users may put in their BTCB, get out BNB at as low as 2% rates, and at the same time claim the Launchpool reward, which leaves a large profit margin. Also, Lista supports strategies on pt-clisBNB and more.
Why Lista Lending?
Current Lista Lending interest rates range between 0.58% and 1.86% in all of its markets. These are much lower than what other protocols charge on the BNB chain, which in turn makes Lista Lending the more cost-effective option.
From a traditional server-based model to a peer-to-peer model
Traditional platforms like Venus, Aave, and Compound, which are the most common pooled liquidity models, do this at the expense of capital efficiency and risk concentration. A single price move may put all users at risk.
Listaās P2P model connects suppliers and borrowers directly and provides a real-time dynamic rate algorithm that sets interest rates according to market supply and demand. The final goal here is to deliver lower borrowing costs, higher deposit yields, and capital utilization up to 90%.
Lista Lending Security Measures
Lista Landing utilizes several security measures, like the Multi-Oracle System, Upgradeable Contracts, and more.
Multi-Oracle System
Lista Lending uses many data sources (Chainlink, Binance Oracle, and Redstone) to gain data to improve usersā security. It uses a multi-oracle system to improve the safety and reliability of the price reports we present.
This way, by using many sources, security teams can cross-check asset values and reduce the risk of price errors or manipulation, which may result in unfair liquidations.
Upgradeable Contracts
With smart contract upgrades available, Lista Lending is a living platform as opposed to a static one. This allows the team to roll out new features, which may include support for more assets or better yield tools, fix bugs, or improve performance as DeFi trends change. It also makes the protocol competitive and responsive to users.
Other risk control measures include 24x7 Time lock, Granular Permission Control, Reentrancy Protection, Audited Code, and Ongoing Monitoring.
The core pillars of Lista DAO
Lista DAO is a product of Binanceās YZi Labs and a BNB Chain native protocol. It went live on Binance in June 2024. It stands on three core pillars, which are designed to fuel the BNBFi ecosystem.
lisUSD Stablecoin
Users can mint lisUSD with collateral. LisUSD is a stablecoin that provides scalable liquidity across the ecosystem.
slisBNB Liquid Staking
Allows the staking of BNB for slisBNB - a liquid token that issues staking rewards.
Lista Lending
A lean capital P2P lending protocol that features in separate investment pools with dissimilar interest rates.
Through these integrated products, Lista Lending provides a DeFi stack that, in turn, allows users to mix and match stablecoin liquidity, liquid staking yields, and low-cost lending strategies to achieve the full potential of BNBFi.
About Lista DAO
Lista DAO is a primary BNBFi protocol on BNB Chain. Lista provides an overcollateralized decentralized stablecoin (CDP) issue of LST BNB, Lista Lending, and innovative measures for users to get involved with Binance Launchpool, Megadrop, and HODLer Airdrops.
Lista is the first protocol recognized with DeFi BNB for Binance Launchpool. This year has seen Lista DAOās TVL grow by 896.92% to $1.1B, which also makes them the 4th largest protocol on the BNB Chain by TVL.
