Lista DAO (Everything You Need to Know)
Liquid staking, and by extension liquid re-staking, have been some of the most interesting and fastest-growing stories of the past year.
Lista DAO introduces an open-source liquidity protocol designed to generate returns on collateralized cryptocurrencies such as BNB, ETH, certain stablecoins, and other assets, while also allowing borrowing of the protocol’s decentralized stablecoin, called lisUSD.
The team also coined the term “destablecoin”, which is used to describe the decentralized nature of lisUSD.
With this in mind, let’s dive deeper into Lista and its intricacies.
What is Lista DAO?
Lista DAO (decentralized autonomous organization) brings a liquidity protocol to generate returns on multiple cryptocurrencies as mentioned above.
It is made from a dual token model where the two native cryptocurrencies are lisUSD (destablecoin) and LISTA. It also has a number of mechanisms designed to support features such as instant conversions, borrowing, yield farming, asset collateralization and more.
According to its main website, the team behind Lista consists of experienced smart contract developers who aim to position lisUSD as one of the most widely used decentralized stablecoins by leveraging Proof-of-Stake and yield-generating assets.
About Destablecoin LisUSD
Destablecoin is a term used to describe a relatively new type of asset in the industry. The prefix “de” means “decentralized.”
These stablecoins leverage decentralized crypto assets staked through a liquid staking protocol as collateral and do not aim to achieve absolute stability in price with fiat currencies such as USD.
In this sense, they are not completely volatile, but they definitely carry more volatility than absolute stablecoins.
It is also true that stablecoins are different from all the different types of stablecoins on the market.
- They have a completely decentralized structure. For example, lisUSD will use decentralized assets as collateral, unlike dai which utilizes USDC.
- Destablecoins also leverage assets staked on liquid staking platforms.
- As mentioned above, stablecoins do not aim to achieve absolute price parity with USD or other fiat-based currencies.
Lista DAO is designed to provide users with the following capabilities:
- Participate in the governance of the protocol through LISTA tokens
- Claim lisUSD borrowing rewards on LISTA
- farm listUSD
- Borrow LisUSD
- Collateralize BNB
Lista uses a combination of features such as the functionality of the MakreDAO model, liquid staking, and greater liquidity from liquidity providers (LPs) on decentralized exchanges to avoid issues such as freezing of funds.
Tokenomics of Lista DAO
As mentioned above, a dual token model exists where lisUSD is the active destablecoin of the protocol and the LISTA token is its native cryptocurrency.
LISTA’s purpose is to:
It is a BEP-20 and ERC-20 compatible token. It will also be used to promote decentralized governance, where owners can make proposals and vote to determine future upgrades, features, and parameters of the protocol.
The total supply will be 1,000,000,000. Token distribution looks like this:
Source: Lista
Tokens will be allocated according to the following timeline:
Source: Binance
How to Participate in binance Megadrop?
Lista will be the second project launched by Binance through the Binance Megadrop platform.
10% of the LISTA supply will be allocated and reserved for users participating in the campaign.
The program aims to provide users with very early access to some Web3 projects before they are listed on major exchanges.
Below you can find a step-by-step guide on how to participate.
First, you will need a Binance account.
You can make a registration using this link and also get a $600 welcome bonus as an exclusive offer for CryptoPotato readers!
Once you do this you need to go to the Megadrop section and lock your BNB to earn points. This is also where you can subscribe to your BNB and lock it for a certain period of time. This will earn you one point.
The longer the subscription period, the higher the multiplier.
The next thing you need to do is Web3 tasks. You will need a Binance Web3 wallet. You can create your own wallet from the Binance mobile app. Go to your wallets tab at the bottom and then tap the Web3 button at the top as shown below:
From here, simply follow the instructions that will direct you to create your Web3 wallet. Once you’ve prepared this, go back to the Megadrop section and hit Start Quest at the bottom; You will need to stake some amount with Lista.
The total points you will receive will always be a combination of your locked BNB points, mission multiplier and Web3 mission bonus. here is the formula:
Total Points = (Locked BNB Points * Web3 Quest Multiplier) + Web3 Quest Bonus.
If you choose not to do quests and just deposit BNB, you will receive a multiplier of 1.
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