Can the stablecoin and liquidity staking project Lista achieve 1+1 greater than 2?

Lista will be listed on Binance, Bybit, Kucoin, MEXC and other exchanges at the same time at 18:00 on June 20th.

Let’s take a look at Megadrop’s data first:

The total number of participants is 870,000, which is about 6% more than the 822,000 in the previous issue of BounceBit. The number of participants in the Web3 task was 852,000, nearly double that of BounceBit’s 433,000. It can be seen that everyone is increasingly seeing the importance of Web3 task weight, and the traffic drainage effect of Megadrop is increasing.

Interestingly, during the MegaDrop period, the number of depositors and transaction volume in Lista was directly related to the price of BNB. When the currency price is high, the number of participants decreases, and when the price of BNB drops, the number of people depositing in Lista increases. Especially on June 18, BNB fell below 580, and the number of deposits increased significantly that day.

Currently, the amount of BNB staking for liquidity on Lista has reached more than 390,000.

In terms of tokens, the total amount of $LISTA is 1 billion. According to token economic estimates, the initial circulation is approximately 22.7%.

In the past two days, LISTA’s IFO is being conducted on Pancake, and the price is US$0.02.

In 2023, Binance invested 10 million in Lista. The unlocking condition is that TGE releases 5.25%. It will be released linearly in 2 years after 9 months of lock-up. Based on the investor ratio of 19%, the primary price is approximately US$0.0526, which corresponds to TGE’s cost-recovery price of 1u. Looking at Pancake's IFO price this way, it's very tempting. I wonder if it can boost Pancake and regain its former first-class glory.

Looking at the distribution of the token economy, the team itself only took 3.5%, and most of the tokens were given to the community and ecosystem (airdrop 10%, Megadrop 10%, ecosystem 9.5%, community 40%). It is a rare and well-structured project, which may bring a bit of refreshment in this summer filled with VC coin FUD.

In addition, judging from the overall data on the chain, Lista’s current TVL is about 322 million US dollars, ranking fourth on BNBChain, and is the largest stablecoin protocol on the BNB chain.

After talking about the current data of Lista, let’s talk about the future prospects of the project.

Lista’s Yin-Yang Bagua-shaped icon represents the integration of liquidity staking and decentralized stablecoins. It is itself a combination of the stablecoin project Helio and the liquidity staking project Synclub.

Some time ago, He Yi said in X Space that Binance is optimistic about the stablecoin track and welcomes cooperation with stablecoin projects. As Lista is currently the largest stablecoin protocol on the BNB chain, and it is Binance Lab’s own investment, how can we not support it.

But here is a question, can the stablecoin protocol and the liquidity staking project achieve 1+1 greater than 2?

First of all, the biggest influencing factor for the prosperity of a public chain is the prosperity of DeFi projects. After all, when valuing a chain now, the most common thing to look at is TVL. Although DefiLlama will avoid double calculation problems caused by borrowing or liquidity staking when calculating TVL, it is difficult to perfectly avoid all double calculations as the complexity of the capital path gradually increases. The stablecoin lending agreement and the liquidity pledge agreement themselves are the most important DeFi products that can unlock capital liquidity.

In addition, think about what would happen if the LSD project and the stable currency project were not combined. According to the current mainstream interest-earning path, most users will still exchange their POS native assets for LST assets, and then transfer them to DeFi products. There are many mature LSD products to choose from, why do users have to use your protocol? When most users choose liquidity staking products, they look at scale and APR. Scale determines the quality of liquidity, and APR is not very different among different companies, so the most important point is liquidity.

Where to put the pledged LST? Basically, there are several types of agreements: lending agreement, stable currency agreement (in fact, it is also a loan in essence), and LP pool. The APR increased by borrowing matryoshka is quite considerable, especially in the quiet market period, when on-chain transactions are inactive, and when the market is low, leverage is added, and the return/risk is relatively high. At this time, users still need to screen the agreement, but there are many lending products on the market, and the factors that users consider when choosing are still liquidity and APR.

The combination of liquidity staking projects and stablecoin projects is essentially a mutual complement of liquidity. Imagine the one-stop shopping district or industrial cluster effect. After buying product A, you need to use it in B. If a place can provide competitive products A and B services at the same time, it will reduce logistics costs while increasing Efficiency has been improved, and as a result, industries A and B in this place have become more and more prosperous. Similarly, Lista's use of the convenience of the same platform will attract more users who need assets to earn interest, and the increase in liquidity will attract more users.

The future of Lista is probably to expand towards multi-collateral assets and multi-scenarios. In addition to BTC, ETH, BNB original assets and LST assets, the current mortgage assets also support multiple LRT assets. According to the roadmap, it will expand to multiple chains in the future.

Finally, let’s look forward to the benefits of this issue of Megadrop.

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