2026-01-12 22:21:01

After using Lista's lending products for so long, sometimes you have to stop and think: how does this protocol make money? Besides price fluctuations, what practical functions does the LISTA token have? Understanding these is essential to judge whether it can truly survive long-term and whether it's worth participating in over the long haul.

To be clear, Lista DAO is not just a simple lending platform; it has bigger ambitions—aiming to build a complete DeFi industry chain. The core business is divided into three parts:

**Liquidity Staking**: Users deposit BNB to receive slisBNB, continuously earning staking rewards. **Stablecoin Segment**: This involves over-collateralized minting of USD1, aiming to maintain a stable $1 peg—that's what we lend out. **Lending Market**: Uses P2P connections to match buyers and sellers, theoretically improving capital turnover efficiency and reducing borrowing costs.

These three parts form a cycle: users stake assets to earn yields while borrowing stablecoins for consumption or investment; the demand for stablecoins, in turn, boosts the ecosystem's liquidity and issuance volume. The data shows whether this model is attractive—TVL has surged to around $3.5 billion, and USD1 deposits have exceeded $100 million, indicating strong capital recognition of this logic.

As a governance token, LISTA is not just a trading asset; token holders can participate in ecosystem decision-making, which is its core value.

LISTA-7,87%

BNB-3,25%

USD10,01%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

6 Likes

Reward
6
7
Repost
Share

Comment

0/400

NFTBlackHole

· 01-15 21:20

Speaking of which, governance rights sound good, but how many people actually participate in voting?

View OriginalReply0

WhaleWatcher

· 01-12 22:49

Damn, 3.5 billion TVL is really not small, but can USD1 stay stable? That's the real key. --- Governance tokens are just for show; the real money is in whether it can establish a self-sustaining cycle. --- It feels like a repackage of the old borrowing + staking routine, and I'm a bit worried about the risks of USD1. --- P2P lending sounds good, but who dares to guarantee the actual liquidity? --- Getting into airdrops, now everyone is confused about how to value this thing. --- Three business segments are tightly linked; if one has a problem, everything collapses. The leverage is indeed a bit high. --- The data looks good, but I'm just afraid that a sudden cold wind will blow and everything will fall apart. --- Holding tokens with voting rights, isn't that just a gimmick? Can DAO decisions really change anything? --- Is the lending market really that cheap, or is it just another marketing gimmick? --- Staking rewards + borrowing stablecoins for consumption—who will ultimately take over this cycle?

View OriginalReply0

defi_detective

· 01-12 22:48

Wait, is it really that easy to stabilize at USD1? Why do I always feel like there's a catch here? Speaking of TVL 3.5 billion sounds like a lot, but in DeFi, it's actually just so-so. Regarding the governance role of LISTA, do token holders really have a say or is it just a show? Honestly, lending is just lending; there's no need to package it as an industrial chain, it feels strange. Are the liquidity staking rewards high? How do they compare to others?

View OriginalReply0

FloorSweeper

· 01-12 22:39

ngl, sounds pretty on paper but where's the actual revenue model tho... governance token plays always end up being bag holders' cope

Reply0

SatoshiLeftOnRead

· 01-12 22:31

Looking at the TVL and USD1 data, it's indeed impressive, but the real profit-making logic still depends on the value capture of governance tokens. Otherwise, long-term holding still feels a bit uncertain.

View OriginalReply0

NFTHoarder

· 01-12 22:22

Wait, whether USD1 is stable or not is the key. If it breaks, the entire logic is gone. I've seen too many liquidity mining schemes. Are people still trusting them now? 3.5 billion TVL sounds like a lot, but how much has truly settled? How much is the governance weight of LISTA worth? To be honest.

View OriginalReply0