Starting from the bottom: ListaDAO development tetralogy: Can it break the tradition of 'BSC has no big hair'?

For a long time, "BSC has no big hair" has been the consensus among terry-haired people.

If you spend a lot of energy on the BSC ecological project, you will be regarded as a fool who does not know how to do it.

However, with ListaDAO being listed on Binance, some conventional things may be changing.

On May 23, Binance officially announced that the second phase of Megadrop will be launched on Lista (LISTA). Users can share 10% of the total token supply by staking BNB to complete the Web3 task, which will end on June 20.

There are two points to note here:

①Megadrop is the flagship product promoted by Binance this year. The first phase of project BB has already given participants a taste of the sweetness, and the second phase yield should not be bad;

②Lista It is the number one decentralized stablecoin protocol on BSC. It has not been taken seriously by the Lumao Party for a long time, but now it is directly connected to Binance, and it is expected to bring huge returns to early supporters.

I vaguely remember that in June last year, I asked a group of friends to do this project, and later I even held an AMA with them. At that time, Lista was still called Helio. Not only did it not receive investment from Binance, but it also lost a number of users due to the anchoring incident. Even today, many people are still unfamiliar with this project.

Fortunately, a very few members of the group insisted on masturbating before Lista received investment from Binance, and participated in various events. It is said that they have been looking at cars recently. Strength, performance, and choice are more important than hard work.

On the eve of Lista being listed on Binance, we might as well re-understand MakerDAO on BSC. Welcome to check out the following four parts and remember to like it.

Chapter 1: Survival

Lista, formerly Helio Protocol, was founded in 2022. It is the issuer of the over-collateralized stablecoin HAY and aims to become the MakerDAO on BSC.

Public information shows that the core members of the project have rich experience and achievements in blockchain technology, financial technology and operational management, and the founding team has also worked at Binance.

On December 2, 2022, Ankr was attacked. An address used the Ankr vulnerability to exchange 10 BNB for 15.5 million BUSD. For a time, Helio was heavily absorbed by arbitrageurs due to the liquidity of hBNB and HAY, causing the stablecoin HAY to be severely de-anchored to $0.2084.

The official immediately launched the HAY anchoring recovery plan. Real money was used to repurchase and destroy HAY from the market, eventually bringing the price of HAY back on track. The team also promised to use current and future income to bear any bad debts.

I have to say that the project team’s performance in handling black swan events is remarkable. If it were another team, they might have disappeared long ago and wouldn't be able to protect users at all. From this perspective, the official layout is good, and I hope the airdrop will also be effective.

Chapter 2: Strategic Merger

As the saying goes, those who cannot kill us will eventually make us stronger.

After experiencing the anchoring incident, Helio not only did not fail, but actively repaired it and restored market confidence. In July last year, it announced a merger with the liquidity staking provider Synclub to establish a new LSDFi Foundation.

This merger is crucial to the development of Helio. Previously, their business only focused on stablecoins. After the merger, they entered the liquidity staking track, filling the BSC LSTFI ecological airdrop and becoming an important infrastructure for the entire chain.

Specifically, users can pledge BNB on Synclub to obtain SnBNB, and SnBNB can continue to pledge HAY on Helio, use HAY for liquidity mining, or use HAY to purchase BNB and then pledge it; with Synclub’s professionalism and multi-chain deployment, Helio It can more conveniently integrate multiple chains, provide stablecoin users with seamless use of HAY, and support more LST token staking and minting.

In retrospect, Binance’s investment in Helio may be inseparable from this merger, because the BSC ecosystem has not had a new narrative for a long time except for some old DeFi projects. The merger of Helio and Synclub has brought new vitality to the entire BSC ecosystem.

Chapter 3: Binance Capital Injection

The month after the merger, Helio ushered in another turning point: Binance Investment.

Referring to the announcement, Binance Labs invested $10 million in Helio to help the protocol continue to transform into a liquid staking platform.

With the support of Binance, Helio will develop smoothly in the future, and its business line will become more mature. It will continue to polish the composite product of "liquidity pledge agreement + decentralized stablecoin lending agreement".

Specifically, users can pledge BNB to earn PoS staking income and obtain liquidity staking certificates. At the same time, they can also use various LSD assets as collateral to mint stable coins.

In February this year, Helio was renamed ListaDAO (derived from the combination of "liquid+staking"), and the token contract was upgraded at the same time, HAY was renamed lisUSD, and SnBNB was renamed slisBNB.

At this point, their ambition is no longer limited to becoming MakerDAO on BSC, but to build a leading CDP stablecoin and LSDfi provider to make it easier for everyone to use DeFi.

Chapter 4: Direct access to Binance

After three years of hard work, Lista finally had the last laugh.

On May 23, Binance officially announced that the second phase of Megadrop will be launched on Lista (LISTA). Users can share 100 million $LISTA by staking BNB to complete Web3 tasks.

Referring to the token model, the total supply of LISTA is 1 billion, with an initial circulation of 230 million. The Binance Megadrop quota accounts for 10% of the total token supply. Among other types of distribution, airdrops account for 10%.

Judging from the distribution ratio, the official has prepared enough chips for the Binance Megadrop event and is full of sincerity. Although the rewards for single numbers are not huge, there are definitely pig's trotters and rice. Those who have the conditions have already been rewarded for multiple numbers.

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