By
Anisha Pandey
June 14th, 2024
Lista DAO operates as an open-source liquidity protocol enabling users to earn yields on collateralized crypto assets such as BNB, ETH, stablecoins, and others.
One of the world’s biggest cryptocurrency exchange platforms, Binance, is bringing Lista (LISTA) on board as the second project on its recently launched token platform, Binance Megadrop. This comes with significant anticipation as Binance will be the first platform to list the token, providing early access to its users through a combination of airdrops and Web3 quests.
In a recent press release, Binance revealed the listing of LISTA, a protocol focusing on liquid staking and decentralized stablecoins. The exchange stated that further information on the Megadrop amount, including Web3 quests, official listing start time, and detailed listing plans will follow in subsequent announcements.
Notably, the maximum token supply for Lista is set at 1 billion LISTA. Out of this total, 100,000,000 LISTA, which represents 10% of the maximum token supply, will be allocated as Megadrop Token Rewards. The announcement added that, at the time of the launch, the initial circulating supply will be 230,000,000 LISTA, which represents 23% of the maximum token supply.
The exchange went further to caution the investors by stating, “Please do your own research to ensure the safety of your funds.” It further adds:
“Any claims to offer this token for sale before the stated timeline are false advertising.”
Functionality of LISTA
LISTA serves as a multi-utility token within the Lista DAO ecosystem. Designed for governance functions, it supports various financial activities within the ecosystem, including instant conversions, asset collateralization, borrowing, and yield farming.
Lista DAO operates as an open-source liquidity protocol enabling users to earn yields on collateralized crypto assets such as BNB, ETH, stablecoins, and others. It also facilitates borrowing through its decentralized stablecoin, lisUSD, also known as a “Destablecoin”. The model is inspired by MakerDAO’s system but aims to expand its functionalities.
Binance Megadrop
Binance announced the launch of Binance Megadrop in April this year, with the aim to provide early access to select Web3 projects before their tokens are listed on the Binance Exchange. It focuses on enhancing the token launch experience by integrating Binance Simple Earn and the Binance Web3 Wallet.
To access Binance Megadrop, users need to log in to their Binance account, making sure they have at least one active Binance Web3 Wallet. They can subscribe to BNB Locked Products and/or complete Web3 Quests to get scores that may accumulate over time. These scores will determine the rewards they receive through the Megadrop program.
The listing of LISTA on Binance Megadrop marks a significant milestone for both Binance and the Lista DAO project. The exchange’s innovative Megadrop platform is set to provide its users with exclusive early access to promising Web3 projects.