Binance Launchpool: clisBNB

clisBNB is a “certificate” token that users receive after depositing BNB into a Collateralized Debt Position (CDP) on the Lista DAO platform. It is designed to represent the user’s BNB on a 1:1 ratio, ensuring that every clisBNB is directly linked to the amount of BNB locked within the CDP. This means that for every 1 BNB that users deposit, they will receive 1 clisBNB in return.

This product is specifically tailored for users who want to leverage their BNB deposits to participate in other DeFi activities on Lista DAO.

What Can clisBNB Do?

The primary function of clisBNB is to allow users to borrow lisUSD against their BNB collateral on ListaDAO, and still be able to participate in Binance launchpool using clisBNB. Users who hold clisBNB in their Binance Web3 MPC wallet can leverage their BNB to join exclusive token launch events, earning new tokens without having to close their debt positions on Lista DAO.

This powerful combination of borrowing and participation in Binance Launchpool gives users more utility and flexibility with their BNB holdings, all through one seamless product.

Key Characteristics of clisBNB

clisBNB comes with several features that distinguish it from other tokens, providing users with focused utility while maintaining control over their assets:

1. 1:1 Ratio with BNB

When users deposit BNB into a CDP on Lista DAO, they are issued clisBNB at a 1:1 ratio. This direct relationship ensures that for every BNB deposited, one clisBNB is created, maintaining a seamless link between the deposit and the certificate.

2. Non-transferable Token

One important feature of clisBNB is that it is non-transferable. Once issued, clisBNB cannot be moved between wallets or users. It is solely linked to the user’s BNB deposit and exists only within the context of the Lista DAO platform, ensuring its security and focused usage.

3. Automatic burn upon withdrawal

clisBNB is automatically burnt or destroyed when users withdraw their BNB or the corresponding slisBNB from Lista DAO’s CDP. This mechanism ensures that clisBNB always accurately represents the amount of BNB in the user’s position. Once the underlying BNB is withdrawn, the associated clisBNB is removed from the system to prevent any mismatches in value.

4. Minting clisBNB to another Address

clisBNB offers users a unique feature: when depositing BNB into a CDP, they have the option to mint clisBNB to another address. However, once this address has been chosen and the clisBNB has been sent over, it will no longer be transferable to any other wallet. Having this function enables greater flexibility, especially for users who may want to delegate certain actions related to another wallet, such as the accumulation of stardust points.

However, this flexibility comes with some key restrictions:

• Only one address can be specified to receive clisBNB at the time of deposit.

• If the underlying BNB or slisBNB is withdrawn, any clisBNB minted to the secondary address is automatically destroyed.

• Being a new product, clisBNB is currently still limited in functionality. As of now, it simply acts as a receipt for the BNB that users deposit and it cannot perform any operations on the Lista DAO platform.