# Overview

Lista DAO, a decentralized autonomous organization, is a lending protocol, a liquid staking solution for BNB, and a Collateralized Debt Position (CDP) protocol on the BNB Chain. Lista DAO is also backed up by Binance Lab (now YZi Labs), with a strategic investment of 10M USD.

Since our launch, Lista DAO has achieved several milestones, including our official TGE on Binance (June 20th, 2024) for our governance token, LISTA, key updates such as our AMO, the launch of ListaPie, and our Lista innovation zone. Our strategic partnerships with different protocols have also expanded our ecosystem and brought additional value to our users. By adhering to our core values and continuously innovating, Lista DAO strives to be a leader in the DeFi space, providing users with secure, efficient, and empowering financial solutions.

## Mission

Our mission is to drive the evolution of DeFi by tackling key challenges in liquidity provision and delivering premier liquid staking solutions for BNB. Through robust offerings such as liquidity staking and CDP mechanisms, Lista DAO aims to empower users with efficient and secure financial tools.

## Vision

Our long-term vision for Lista DAO is to establish it as a cornerstone of the DeFi ecosystem, fostering widespread adoption of our products. We prioritize continuous development, consistently innovating and introducing new features and services to meet the evolving needs of our users. Transparency is foundational to our operations, ensuring that all processes and decisions are transparent and accessible to the community. Lista DAO upholds the highest security standards, implementing comprehensive measures and conducting regular audits to uphold the integrity and safety of our platform and user funds. For more detailed information, you can view our audits [here](/security/audit-reports).

## Core features

### Lending

Launched in April 2025, [Lista Lending](https://lista.org/lending/borrow?utm_source=medium\&utm_medium=text\&utm_campaign=year_report) grew into one of the largest lending markets on BNB Chain within six months. With dozens of markets and lending vaults available, Lista Lending offers first-party vaults that maximize your assets efficiency on the BNB Chain while allowing permissionless vault creation via its smart contracts from third parties. The latest chapter in Lista Lending is Lista Credit, .

### Smart Lending & Swap

Smart Lending is Lista’s next generation lending solution where collaterals are deposited into liquidity pools at Lista’s DEX, Smart Swap. This opens up an entirely new income stream - trading fees. If you deposit BNB/slisBNB into Smart Lending as liquid provision, you will be able to borrow USD1 or BNB against it, while earning trading fees from BNB/slisBNB trading activities on Smart Swap at the same time.

### Collateral Debt Position (CDP)

Modelled after MakerDAO, our CDP system allows users to lock a variety of collateral and mint stablecoins (lisUSD) against it, providing a secure way to leverage assets.

### Liquid staking solution

Inspired by Lido DAO, our liquidity staking mechanism allows users to stake their BNB, earn rewards, and maintain their liquidity at the same time. This enhances overall liquidity within the DeFi ecosystem while ensuring flexibility and accessibility for users.

## Our tokens

<table data-view="cards"><thead><tr><th></th><th></th><th></th></tr></thead><tbody><tr><td><h4>LISTA</h4></td><td>LISTA is our governance token, empowering holders with voting rights and a say in the future direction of the platform.</td><td></td></tr><tr><td><h4>lisUSD</h4></td><td>lisUSD is a stablecoin minted through our CDP mechanism, maintaining a stable value pegged to the US dollar.</td><td></td></tr><tr><td><h4>slisBNB</h4></td><td>slisBNB is Lista DAO’s liquid staking token, representing staked BNB and allowing users to earn rewards while maintaining liquidity.</td><td></td></tr></tbody></table>

<br>


# Terms of Use

Please read these Terms and Conditions carefully before using the Lista DAO Interface.\
Your access to and use of the Interface is conditional upon your acceptance of and compliance with the following Terms. By using the Interface, you acknowledge that you have read, understood, and agree to be bound by these Terms.\
If you do not agree, or if you are not willing to be bound by these Terms, you must not use the Interface. If you are presented with an option to "Accept" these Terms, you may only select “Accept” if you genuinely consent to be legally bound by them.

If you do not meet the eligibility criteria outlined in the below Terms, or if you are otherwise not in full compliance with them, you are strictly prohibited from accessing, using, or benefiting from the Interface.

Use of any obfuscation methods, including virtual private networks (VPNs), proxies, or similar technologies, to bypass geographic or regulatory restrictions is forbidden.\
Any unauthorized use of the Interface may constitute a violation of applicable laws and may expose you to legal liability, including for fraudulent access.

### Lista DAO Terms of Use

Please read these Terms of Use (“Terms”) carefully before accessing or using the Lista DAO Interface (“the Interface”).

#### 1. Acceptance of Terms

Your access to and use of the Interface is conditioned upon your acceptance of and compliance with these Terms. By accessing or using the Interface, you confirm that you have read, understood, and agreed to be bound by these Terms.

If you do not accept these Terms, or are unwilling to be legally bound by them, you must not use the Interface. If you are presented with an option to “Accept” these Terms, you may only select “Accept” if you genuinely agree to be bound by them.

If you do not meet the eligibility criteria described below, or if you are otherwise not in full compliance with these Terms, you are strictly prohibited from accessing, using, or deriving any benefit from the Interface and must not attempt to do so.

The use of any obfuscation methods, including virtual private networks (VPNs), proxies, or similar technologies, to bypass geographic or regulatory restrictions is strictly forbidden. Any unauthorized use of the Interface may constitute a violation of applicable laws and may expose you to legal liability, including for fraudulent access.

Specifically, you represent and warrant that you are not a U.S. Person, and are not currently or ordinarily located, resident, domiciled, incorporated, or organized in the United States of America. This includes, without limitation, U.S. citizens, tax residents, permanent residents (green card holders), and any entities formed under the laws and jurisdiction of the United States of America. Such individuals and entities are strictly prohibited from using or accessing the Interface.

By proceeding, you further confirm that you will not use the Interface on behalf of any U.S. Person or entity, nor will you facilitate or permit access to any person or entity restricted under these Terms.

#### 2. Prohibited Access and Restrictions

Use of obfuscation technologies (including VPNs, proxies, or similar tools) to bypass regional or regulatory restrictions is strictly prohibited. Unauthorized use may constitute a violation of law and may expose you to legal liability.

Jurisdictional Restrictions:\
You represent and warrant that you are not a U.S. Person (as defined under U.S. law), nor located, resident, domiciled, incorporated, or organized in the United States of America. This includes, without limitation, U.S. citizens, tax residents, permanent residents, and any entity formed under U.S. law. Such persons and entities are strictly forbidden from using the Interface.

You further agree not to use the Interface on behalf of, or facilitate access for, any person or entity restricted under these Terms.

#### 3. Binding Provisions

Dispute Resolution & Arbitration:\
Any dispute or claim relating to these Terms or the Interface must first be attempted to be resolved in good faith via email (\[contact email]). If not resolved within 60 days, disputes will be settled exclusively by binding arbitration administered by \[ arbitration body].

Class Action and Jury Trial Waiver:\
You agree to resolve all disputes individually, and not as a plaintiff or class member in any purported class or representative action. You waive any right to a jury trial.

Governing Law:\
These Terms are governed by the laws of the Republic of Seychelles, without regard to conflict-of-law principles.

#### 4. About the Interface

The Interface is a non-custodial web application that aggregates publicly available third-party information regarding CDP, liquid staking and lending technologies. It does not directly control any underlying protocols or blockchains.

#### 5. Eligibility

By using the Interface, you confirm that you:

* Are of legal age and capacity in your jurisdiction to use the Interface;
* Possess all technical knowledge necessary to understand and assume the risks of using the Interface;
* Will comply with all applicable laws and will not use the Interface for any unlawful activities;
* Are not a resident, citizen, or agent of, nor organized or operating in, any country or territory subject to sanctions by the U.S., U.K., EU, or UN (“Restricted Territories”), nor are you a person listed on any relevant sanctions lists (“Sanctioned Persons”);
* Do not intend to transact with any Restricted Territories or Sanctioned Persons.

#### 6. Prohibited Uses

You must not, in connection with your use of the Interface:

* Use the Interface for any non-permitted use.
* Use the Interface at any time when any representation set forth in these Terms is untrue or inaccurate.
* Rely on the Interface as a basis for or a source of advice for financial or legal decision-making or transactions.
* Employ any device, scheme, or artifice to defraud, or otherwise materially mislead, any person.
* Engage in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person.
* Fail to comply with any provision of these Terms, or any privacy policy or other applicable policy.
* Engage, attempt, or assist in any hack or attack on the Interface or any wallet application or device, including “Sybil attacks”, “DoS attacks”, “griefing attacks”, virus deployment, or theft.
* Commit any violation of applicable laws, rules, or regulations in your relevant jurisdiction.
* Transact in securities, commodities futures, leveraged commodities trading, binary options, real estate, equipment leases, debt financings, equity financings, or similar transactions if not in full compliance with all relevant laws.
* Engage in token-based or other financings of a business, enterprise, DAO, software project, or other initiative, including ICOs, DAICOs, IEOs, or other token fundraising events.
* Violate any law concerning the integrity of trading markets, including tactics such as spoofing or wash trading.\ <br>
* Circumvent any sanctions or export controls targeting the user or their country/territory.
* Infringe any intellectual property rights or interfere with the IP address of a device used to access the Interface.
* Transmit, exchange, or otherwise interact with proceeds of criminal or fraudulent activity.
* Contribute to or facilitate any of the foregoing activities.\ <br>

#### 7. Additional User Declarations

By using the Interface, you further acknowledge and agree that:

* Your only rights and obligations are as set forth in these Terms;
* The Interface is deemed to be based in Seychelles, regardless of your location;
* The Interface is informational only, not an agent or custodian, and not in control of blockchain systems;
* No fiduciary duty is owed to you by the Interface maintainers;
* You are solely responsible for any damages arising from your use of the Interface;
* The Interface does not provide investment, legal, or financial advice.\ <br>

#### 8. Risks & Disclaimers

* No Warranty: The Interface is provided “AS IS” and “AS AVAILABLE.” No guarantee is made regarding uptime, accuracy, completeness, or security.
* No Regulatory Oversight: Neither the Interface nor its maintainers are regulated or supervised by any governmental authority.
* Regulatory Uncertainty: Blockchain technologies are subject to evolving legal and regulatory risks, which may impact the availability or functionality of the Interface.
* No Fees, Irreversible Transactions: The Interface charges no fees, but blockchain transactions may incur third-party fees which are irreversible.

#### 9. User Responsibility

You are solely responsible for your wallet, private keys, account security, and for ensuring compliance with these Terms.

#### 10. License to Use

Subject to these Terms, you are granted a personal, revocable, non-exclusive, non-transferable license to use the Interface for permitted purposes only. The smart contract underlying the Interface is open source and not owned by the Interface maintainers.

#### 11. Privacy Policy

The Interface may temporarily collect and store personally identifiable information for operational and compliance purposes, including detection of prohibited uses. Except as required by law, the Interface maintainers have no confidentiality obligations for such information.

#### 12. Non-Reliance

You confirm you are sophisticated and experienced with blockchain technologies and are not relying on any statement or warranty except as expressly set forth in these Terms.

#### 13. Third-Party Content and Promotions

The Interface may reference or link to third-party resources, products, or services. You access these at your own risk, and the Interface maintainers assume no responsibility for them.

#### 14. Indemnification

You agree to defend, indemnify, and hold harmless the Interface maintainers against any claim or loss arising from your use of the Interface or violation of these Terms.

#### 15. Entire Agreement

These Terms, including any incorporated policies, constitute the entire agreement between you and the Interface maintainers, superseding any prior agreements or understandings.

These Terms, including the Privacy Policy, constitute your entire representation, consent, and agreement with respect to the subject matter, including the Interface. These Terms, including the Privacy Policy, and any disclosure and disclaimers incorporated by reference supersede all prior Terms, written or oral understandings, communications, and other agreements relating to the subject matter of the Terms.

By accessing or using the Lista DAO Interface, you confirm your acceptance of these Terms.<br>


# Lista Lending

<figure><img src="/files/OPekDZIYbVc3fbaL6owo" alt=""><figcaption></figcaption></figure>

Lista Lending is a fully decentralized and permissionless P2P lending protocol crafted for BNB Chain, breaking free from the constraints of traditional large-pool lending to cultivate a more inclusive and resilient ecosystem.

Lista Lending’s core revolves around a vault-based system, pooling liquidity and dynamically allocating it across different lending & collateral pairs, which we call markets, based on supply and demand.

## Key Concepts

### Collateral

Borrowers must deposit supported crypto assets as collateral into a market of their choosing to unlock a borrowing capacity proportional to the collateral’s value from the market.

### Borrowing

The borrower specifies the amount of assets they wish to borrow from the market and provide the required collateral. The ratio between the values of their loan and collateral is represented in loan-to-value ratio (LTV). When this ratio is too high - typically due to price fluctuations and/or accruing interest, a liquidation will be triggered and the borrower may lose a portion or all their collateral.

### Interest Rates

The borrower pays interest at an agreed-upon rate. Interest accumulates over time and should be paid at the time of repayment. Read more about our Interest Rate Model here: <https://docs.bsc.lista.org/introduction/lista-lending/interest-rate-model-irm>

### Repayment

The borrower can return the loan principal and interest at any time and retrieve the collateral after the transaction is confirmed.

### Liquidation Loan-To-Value (LLTV)

The Liquidation Loan-To-Value ratio, or LLTV ratio, is a preset threshold that varies from market to market to protect the lenders. When a loan's LTV approaches its corresponding LLTV, the collateral is considered insufficient and the borrower is at risk of being liquidated. This is when a liquidation will be triggered.

### Liquidation Mechanism

Whenever a liquidation is triggered, Lista’s smart contract will take over a portion of the position and try to swap it into the corresponding debt asset and cover the loan. When Lista’s smart contract can not complete the liquidation process and repay the loan, the position will be listed in Lista’s [Liquidation Zone](https://lista.org/lending/liquidation), available for everyone to purchase. Positions listed in Lista's Liquidation Zone will be at a discounted price to encourage taking over. Read more about our liquidation mechanism here: <https://docs.bsc.lista.org/introduction/lista-lending/liquidation>

### Lending

The Lender (supplier) deposits a certain amount of assets into Lista's vaults and the smart contract will pair these assets with the borrowers and receives a portion of their borrowing interest.

### Withdrawal

The lender can withdraw their deposited assets and interest at any time (subject to market liquidity).

The borrower can withdraw their collateral in part or in full only when the proposed withdrawal will not push the LTV higher than the LLTV.

<br>


# Vaults

A Lista vault contains a single loan asset and will match it with potential borrowers from multiple Lista markets. Any wallet address can deposit into a vault to earn passive yields generated from borrower interest payments. Depositors of a vault will earn a portion of the interest paid by borrowers. As long as the utilization rate is not at 99.99%, depositors can withdraw their assets at any time.

At Lista, vaults incorporate automated risk management, dynamically adjusting risk exposure for all deposited assets, relieving the stress of constant monitoring and management from their depositors, while depositors retain control over their assets and withdraw their liquidity whenever they choose, as long as the proposed withdrawal won't push the utilization rate of the vault to 99.99% or higher.

As a permissionless lending protocol, Lista also allows third-party vault creation and curation. Lista DAO does not review, audit, certify, or endorse third-party vaults or their respective Curators. Please read our [third-party vault risk disclosure](/introduction/lista-lending/third-party-vault-risk-management) and employ robust risk mitigation methods before depositing into third-party curated vaults.

## Vaults and Markets

Assets in a vault may be paired with several markets that offer the same asset. Depending on the collateral, its relation to the loan asset, and supply & demand, these markets may have different parameters like liquidation loan to value (LLTV) ratio, interest rate, and fee rate.

## Core Players & Components

### 1. Oracles

Lista Lending pulls its price feeds from a basket of different oracles with backups to minimize the risk and impact of price manipulation.

Currently, Lista's price oracles include:

* Chainlink (Main oracle)
* Binance Oracle (checking oracle)
* Redstone (Backup oracle)

### 2. Vault Owner

At Lista, vault owners can decide which markets to invest funds in. By default, the depositor delegates risk management to the Vault Owner, who has full control. Vault owners will be solely responsible for what happens to the assets deposited into the vault. Refer to our [risk disclosure](/introduction/lista-lending/third-party-vault-risk-management) for more information.

### 3. Customize Bad Debt Handling

Bad debts can be either amortized (spread out, gradually being reduced over time) or handled manually.

### 4. Account Management

Operates via traditional function calls, or message signatures based on the [EIP-712](https://eips.ethereum.org/EIPS/eip-712) standard.

### 5. Time locks

Vault Owners can optionally set timelocks to govern critical parameter changes and risk management processes.

### 6. Vault Fees

Vaults can independently charge fee, up to a maximum of 50% of their generated profits, with the specific use of these funds determined by the Vault Owner.

### 7. Assignors

Vaults can designate an Allocator or Curator role, tasked with strategically distributing liquidity across various markets.


# Lista Alpha Zone

The Alpha Zone Vaults are specialized lending pools within Lista Lending, designed exclusively for Binance Alpha tokens. These vaults allow whitelisted users to:

* **Deposit Alpha Tokens as Collateral**: Supply your Alpha tokens into the vaults to unlock liquidity while retaining exposure to their potential upside.
* **Borrow Against Collateral**: Use your deposited Alpha tokens to borrow assets like lisUSD or other supported tokens, enabling strategies such as hedging or scaling your positions.
* **Flexible Withdrawals**: Withdraw your collateral at any time.

## How to Participate in the Alpha Zone <a href="#c85e" id="c85e"></a>

Participation in the Alpha Zone Vaults is currently whitelist-only, ensuring a controlled rollout to manage risk and prioritize user safety. Here’s how you can get involved:

1. **Apply for Whitelist Access**:

* Visit our whitelist application form to apply:[ Whitelist Application](https://docs.google.com/forms/d/1UdSrlQlZlj2b9wJschIYiw11A352PmbDKoQFrR3NONc/edit).
* Only whitelisted addresses can deposit into the vaults or borrow from the markets, with deposits and borrowing subject to limits for added security.

**2. Deposit and Borrow (Once Whitelisted)**:

* Once approved, navigate to the Alpha Zone Vaults on[ lista.org](https://lista.org?utm_source=gitbook\&utm_medium=article\&utm_campaign=lista-alpha-zone) under the “Lending” section.
* Deposit your Alpha tokens into the vault.
* Borrow assets like lisUSD against your collateral to execute your DeFi strategies, with repayments and withdrawals unrestricted for flexibility.

## Why Lista Lending Alpha Zone? <a href="#id-8af8" id="id-8af8"></a>

The Alpha Zone Vaults transform the hype around Binance Alpha tokens into actionable utility, offering a secure way to borrow, hedge, and scale your positions.

By providing a controlled environment (whitelisting), we’re ensuring users can confidently engage with these emerging assets while mitigating risks.

Check out Lista Alpha zone [here](https://lista.org/lending#alpha?utm_source=gitbook\&utm_medium=article\&utm_campaign=lista-alpha-zone).


# Loop BNB vault

<figure><img src="/files/2Kezhy23mHg0wHX7YNmU" alt=""><figcaption></figcaption></figure>

We’re introducing a dedicated Loop BNB Vault to meet suppliers and borrowers need. This vault is allocated exclusively to the high-demand slisBNB/BNB lending market.

The Loop BNB Vault allows suppliers to earn higher APRs, while borrowers gain greater access to this active market.

Our classic BNB vault is still accessible for users who want to diversify as it offers broad exposure across multiple markets. This targeted approach ensures that both specialized and diversified users can optimize their DeFi experience as BNBFi continues to evolve.

Deposit in the Loop BNB Vault [here](https://lista.org/lending/vault/0xab251dc87dc313649d024bd69b34c8e7690ce1fc#vault?utm_source=gitbook\&utm_medium=article\&utm_campaign=loop-bnb-vault).


# Markets

A Market is an isolated lending pool that pairs one collateral asset with one loan asset (eg; slisBNB/BNB). Each market operates independently, isolating risks to prevent spillover, and remains immutable after launch. Assets in each vault can be paired with multiple markets. Creating a market is permissionless.

#### Permissionless Market Creation

A standout feature of Lista Lending is its permissionless market creation, enabling users to deploy isolated lending markets with personalized key parameters. This approach diverges from traditional lending platforms and shifts the paradigm by empowering users to customize markets without centralized oversight.

Unlike conventional lending protocols, which mandate governance approval for listing assets or adjusting parameters and aggregate assets into a single shared pool, distributing risk protocol-wide, Lista Lending allows markets to operate independently, with parameters set at creation and managed flexibly through its upgradeable vault system.

#### Market Creation Mechanics

At Lista Lending, a market can be created after specifying:

* Loan Asset: The asset to be lent or borrowed (e.g., lisUSD).
* Collateral Asset: The asset securing loans (e.g., slisBNB).
* Liquidation Loan-To-Value (LLTV): depending on the loan and collateral assets, this can get as high as over 90% or as low as 50%.
* Oracle: Chainlink, Binance Oracle, Redstone, API3
* [Interest Rate Model](/introduction/lista-lending/interest-rate-model-irm): Lista's adaptive rate model, dynamically adjusting based on utilization.


# Borrowers & Suppliers

### Supplier (Lenders)

Anyone can be a supplier - individuals, protocols, DAOs, or even hedge funds. They can either actively manage their positions by manually adjust their exposure in different markets, or take a more passive route by depositing into a vault aligned with their risk profile. The vault will then allocate funds across markets for the supplier.

### Borrowers

Borrowers can select from a range of markets on Lista Lending based on their needs - such as preferred collateral types, loan asset, and favorable borrowing rates.


# Interest Rate Model (IRM)

### Interest Rate Model

At Lista Lending, interest rate is determined by our Interest Rate Model (IRM) based on the supply and demand of the loan asset. The key indicator of the supply and demand is market utilization rate - the ratio between borrowed to supplied assets. Lista's IRM will adjust the interest rate based on the market utilization rate. When the market utilization rate gets too high, Lista's IRM will increase the borrow rate (APY) greatly to incentivize repayment, and vice versa. In a sufficiently active market, the most ideal market utilization rate is 90% and Lista's IRM will try to keep it at this level.

Unlike traditional lending protocols with static rates or single-pool designs, Lista Lending applies the IRM across multiple markets within each vault, offering curators flexibility to refine strategies while ensuring competitive rates for borrowers and lenders.

Lista's IRM adjusts borrow rate based on utilization rate progressively instead of immediately. This avoids drastic fluctuations of interest rates and other risks associated with it while maintaining its influence over the market. Borrowers will have to pay higher interest at higher utilization rate, but not enough to cause unexpected liquidations due to sudden interest rate spikes. Lenders will still be able to receive a higher interest rate over time instead of a few short upturns here and there.

#### How It works

Lista's IRM powers the entire Lista Lending by dictating the instantaneous borrow rate based on the utilization rate. It targets a 90% utilization rate to balance efficiency and liquidity. This IRM operates through two complementary mechanisms:

1. **Curve Mechanism**\
   This adjusts borrow rates instantly based on real-time utilization and a target utilization rate. Currently, Lista is targeting 90% utilization rate for all lending markets.

* Key Parameter: $$r\_{90%}$$. The borrow rate at target utilization: 90%.

When the utilization rate goes above 90%, the borrow rate will also go up linearly to $$4 \times r\_{90%}$$ at 100% utilization rate.

When the utilization rate goes below 90%, the borrow rate will go down linearly to $$0.25 \times r\_{90%}$$ at 0% utilization rate.

2. **Adaptive Mechanism**\
   This mechanism shifts the entire interest curve by adjusting $$r\_{90%}$$ over time based on the current utilization rate $$u$$:

$$u = \frac{Total Borrowed Asset}{Total Supplied Asset} \times\ 100%$$

* When $$u > 90%$$: Increase $$r\_{90%}$$ and shift the curve upward to encourage repayments.
* When $$u < 90%$$: Decrease $$r\_{90%}$$ and shift the curve downward to incentivize borrowing.

The speed at which $$r\_{90%}$$ changes, $$e(u)$$ , scales linearly with the difference between the current utilization rate $$u$$ and 90%:

$$
e(u) = \begin{Bmatrix}v\times\frac{u-u\_{target}}{1-u\_{target}}, when\ u>u\_{target}\v\times\frac{u-u\_{target}}{u\_{target}}, when\ u\<u\_{target}\end{Bmatrix}
$$

where $$v$$ is an arbitrary number defined in Lista's smart contracts. Currently, $$u\_{target} = 90%$$:

The maximum speed $$r\_{90%}$$ increases occurs at 100% utilization, which will double $$r\_{90%}$$ in 5 days. The maximum speed $$r\_{90%}$$ decreases occurs at 0% utilization, which will halve $$r\_{90%}$$ in 5 days.

When the utilization rate $$u=90%$$, $$r\_{90%}$$ will remain the same until $$u$$ changes.

When a market's $$u$$ sits at 45% for sufficiently long, its $$r\_{90%}$$ will decrease at half of $$e(0%)$$, which halves itself after 10 days.

When a market's $$u$$ sits at 95% for sufficiently long, its $$r\_{90%}$$ will increase at half of $$e(100%)$$, which doubles itself after 10 days.

#### Borrow and Supply APY

The Annualized Percentage Yield (APY) standardizes interest rates over a year, accounting for compounding, and is a critical metric for Lista Lending. Two key APYs include:

* Borrow APY: The annualized cost borrowers pay, derived from our IRM’s instantaneous rate. It reflects the yearly expense of borrowing from a vault’s market.
* Supply APY: The annualized return lenders earn, computed as a weighted average across all markets a vault allocates to, adjusted for utilization and fees.

**Borrow APY**\
The Borrow APY compounds the per-second borrow rate over a year:

$$borrow APY= e^{borrowRate \times sedondsPerYear} - 1$$

Where:

* borrowRate: The rate set by the IRM for a specific market.
* secondsPerYear: 31,536,000 (seconds in a year).

**Supply APY**\
The Supply APY is a vault-level weighted average, combining each market’s APY with its allocation proportion:

1. Weights: Retrieve the vault’s liquidity distribution from its Withdrawal Queue (e.g., 50% slisBNB/BNB, 30% USD1/BNB).
2. Calculate each market’s supply APY:\
   $$supplyAPY = borrowAPY \times u \times (1 - fee)$$
3. Weighted Average:\
   $$vaultsupplyAPY= \sum supplyAPY \times\ market Weight$$

Where:

* $$u$$ is the current utilization rate: $$u = \frac{Total Borrowed Asset}{Total Supplied Asset} \times\ 100%$$
* Fee Includes protocol fees (0-25%, set by Lista DAO) and vault fees (up to 50%, set by curators); currently defaults to 0% unless specified.

**Integration with Vaults**

Unlike standalone market applications, the IRM operates within Lista Lending’s vaults, where liquidity is allocated across multiple markets (e.g., pt-clisBNB/lisUSD, BNB, BTCB). Curators can adjust allocations or upgrade vault parameters, enhancing the IRM’s adaptability while retaining its core logic.


# Fixed Rate & Term Loans

There are 2 interest rate and term options to choose from when borrowing at Lista: flexible and fixed.

Flexible interest rate works just like other lending products at Lista DAO where borrowers can borrow and repay their loans any time and the interest rate fluctuates depending on the utilization rate, as dictated by our [Interest Rate Model](https://docs.bsc.lista.org/introduction/lista-lending/interest-rate-model-irm).

Fixed interest rate requires the borrower choose a fixed term for their loan and lock in an interest rate throughout the term. Available terms include 7, 14, and 30 days. Fixed rate will be different from the current flexible interest rate, depending on the market conditions.

Borrowers can choose to repay the loan in part or in full before the term expires but must receive a penalty equal to 50% of the remaining interest on the repaid principal.

Let’s say Alice borrowed 10,000 lisUSD at a 2% interest rate (yearly) for 14 days. If Alice chooses to repay 6,000 lisUSD after 5 days, then:

Total interest charged = 10000 \* 2% \* 5/365 = 2.74 lisUSD

This means Alice will be repaying her interest (2.74 lisUSD) first, then her principal for 6,000 - 2.74 = 5,997.26 lisUSD

But since Alice repaid her loan before the term expires, she will receive a penalty equal to 50% of the remaining interest:

50% \* 5997.26 \* 2% \* (14-5)/365 = 1.48 lisUSD

The amount of principal repaid by Alice’s 6,000 lisUSD is: 6000 - 2.74 - 1.48 = 5995.78 lisUSD

This means Alice will be paying a 2.74 lisUSD interest, 1.48 lisUSD penalty, and 5995.78 lisUSD principal.

Thus, at any time during the term, the minimum amount for loan repayment must be greater than the interest accrued and the penalty because the interest and penalty must be repaid first.

When its term expires, the fixed term loan will turn into a flexible loan.


# bStocks

Lista Lending supports tokenized equities (bStocks) as collateral, allowing users to borrow stablecoins against on-chain stock exposure while retaining their underlying positions.

The first batch of bStocks available as collateral are: CRCLB, MUB, NVDAB, SNDKB, TSLAB, and SPCXB. Available loans against these assets are: USDT, USD1, U, and lisUSD.

bStocks Lending works the same as Lista Lending, available 7/24. bStocks Lending gets its price feeds from Atlas Oracle.

Please note that Lista reserves the right to pause certain functions for certain markets in case of emergency.


# Fees

* Fees are managed by Lista DAO at an adjustable rate between 0 to 25%.
* Fees are primarily derived from a percentage of the interest earned on loans.
* The current fee is set at 10% of the borrowing interest.


# Liquidation

Liquidation at Lista Lending is a vital risk management tool that safeguards lenders’ capital by ensuring borrowers maintain sufficient collateralization. This mechanism enables full or partial liquidation of a borrower’s position when their Loan-To-Value (LTV) exceeds the market’s Liquidation Loan-To-Value (LLTV) threshold, ensuring market stability while supporting its vault-centric, permissionless lending model.

### Understanding Loan-To-Value (LTV) Ratio

The Loan-To-Value (LTV) ratio is the ratio between the value of your loan and your collateral. It is a critical metric assessing a position’s risk by comparing debt to collateral value.

**How to Calculate LTV**

$$
LTV = \frac{Loan\ Asset\ Amount}{Collateral\ Asset\ Amount\times \frac{Oracle\ Price}{Oracle\ Price\ Scale}}\times100%
$$

Where:

Oracle Price is represented in the ratio between the prices of collateral asset and loan asset.

Oracle Price Scale is $$10^{36}$$ and is used for price normalization.

Example:

At Lista's BNB/USDT market, if you deposit 1 BNB and borrow out 500 USDT.

At a certain time, the price of BNB/USDT Lista fetches from the oracles is $$8\times10^{38}$$. Divide this number by $$10^{36}$$, we will get the normalized price of BNB: 800 USDT.

Then the LTV of this loan is $$\frac{500}{800}\times 100% = 62.5%$$

### Standard Liquidation

Standard liquidation is Lista Lending’s primary defense against borrower defaults, embedded in the protocol’s core contracts. Each market comes with its own liquidation loan-to-value (LLTV) ratio, an arbitraty number used as trigger for liquidation.

#### **When Is a Position Liquidatable?**

A position becomes liquidatable when its LTV exceeds the LLTV of its corresponding market.

This may occur due to:

* A drop in collateral value (e.g., BTCB price falls).
* An increase in debt from accrued interest.
* A combination of both.

#### **How Liquidation Works**

When a liquidation is triggered, any external party can repay part or all of the borrower’s debt and become the liquidator, receiving collateral of equivalent value plus a bonus determined by the Liquidation Incentive Factor (LIF).

LIF varies from market to market and is determined by a market's LLTV:

$$
LIF=min(M,\ \frac{1}{\beta\times LLTV+(1-\beta)})
$$

Where:

* $$\beta$$ is a constant, 0.3.
* $$M$$ is the maximum incentive factor, 1.15.

When a market has an LLTV of 80%, LIF ≈ 1.06 (6% bonus). Currently, Lista DAO sets a minimum LIF of 1.048.

To incentivize timely liquidation, all LIF bonus goes to the liquidator; Lista charges no fee.

#### **A Step-by-Step Example**

Let's say you deposited 100 USDT and borrowed out 91.5 USD1. This market has an LLTV of 91.5%.

Your LTV is $$91.5/100 = 91.5%$$, so the moment interest starts accruing, your LTV will exceed the LLTV. A liquidation will be triggered and a liquidator will step in to repay the debt. (This is also why we do not recommend borrowing close to LLTV)

Now, a liquidator can either repay this loan in part or in full and receive some of the collateral plus bonus determined by the LIF. With an LLTV of 91.5%, the LIF for this market is:

$$
LIF=min(M,\ \frac{1}{\beta\times 0.915+(1-\beta)})=1.026
$$

This is smaller than the minimum LIF, 1.048 so $$LIF=1.048$$.

This means a certain amount of collateral will be seized:

$$
Seized\ Collateral\ Value = Outstanding\ Loan\ Value\times LIF
$$

The outstanding loan is 91.5 USD1 (plus a minuscule amount of interest). If the oracle dictates 1 USD1 = 1 USDT, then the amount of collateral seized will be:

$$
91.5\times LIF = 91.5\times 1.048 = 95.892\ USDT
$$

If the loan is repaid in full, which means the liquidator pays 91.5 USD1 plus a minuscule amount of interest, they will then receive slightly more than 95.892 USDT. Their profit is: $$95.892\ USDT-91.5\ USD1\approx$4.392$$ minus gas fees.

### Delayed Liquidation

Following the approval of [LIP-024](https://snapshot.org/#/s:listavote.eth/proposal/0x1a15347f6b452049212bdf51ff1a46c0a7edf7ca8efe1004b32c15c2965f0f3b), delayed liquidation is launched for selected markets as the first benefit for LISTA holders.

Normally, when a position’s LTV exceeds its LLTV on Lista, a liquidation will be triggered. With delayed liquidation, eligible borrowers will get a buffer - a higher, new LLTV threshold to protect your positions for 24 hours for selected markets:

<table data-header-hidden><thead><tr><th width="95.890625"></th><th width="80.01953125"></th><th width="125.59375"></th><th width="113.46875"></th><th></th></tr></thead><tbody><tr><td>Collateral</td><td>Loan</td><td>Original LLTV</td><td>New LLTV</td><td>Market Hash</td></tr><tr><td>BTCB</td><td>U</td><td>86%</td><td>92%</td><td>0x6ef28e9f52ffd5e66b14ba95f3da17b782ce8c4a592218fa32f917ca10f4f054</td></tr><tr><td>BTCB</td><td>USD1</td><td>86%</td><td>92%</td><td>0x8de2e1f3e3935024a2667d8203983bdff70a1aee0c91665760e02c257d53032f</td></tr><tr><td>BTCB</td><td>USDT</td><td>80%</td><td>92%</td><td>0xea00a233473bc0585326eec959623a054798b7543205c5079bab49015a2bf810</td></tr><tr><td>slisBNB</td><td>BNB</td><td>96.5%</td><td>97%</td><td>0x2bb68bc7f70186f3d4f16db6a19986df6c6cdea3e589c1ae3d30b56b0632c5ec</td></tr><tr><td>slisBNB</td><td>lisUSD</td><td>85%</td><td>92%</td><td>0x7fe248d8459a88e50e8582c71219edbce1079437e58190aeab41ac503694f0a5</td></tr><tr><td>slisBNB</td><td>USD1</td><td>86%</td><td>92%</td><td>0x95f93825819b67a64610e6adb9ac5f70d5108f5121b9df6551e23a4a7a801b5b</td></tr><tr><td>slisBNB</td><td>U</td><td>86%</td><td>92%</td><td>0xaaf06d7c7fd32ac1b478bdf6f068d707ea32982f299b684ef79b1023a51ad3db</td></tr><tr><td>slisBNB</td><td>BNB</td><td>96.5%</td><td>97%</td><td>0x226935103b730aefad53849e4cf7d92f30083cc417222f395478dabdd9ff3cac</td></tr><tr><td>USD1</td><td>BNB</td><td>80%</td><td>92%</td><td>0xd384584abf6504425c9873f34a63372625d46cd1f2e79aeedc77475cacaca922</td></tr><tr><td>USD1</td><td>U</td><td>96.5%</td><td>97%</td><td>0x17230b8678f7efac75e99f4d9db9b2e5e74aabc1f34156b574b676a8e4e8e6f1</td></tr><tr><td>USDT</td><td>BNB</td><td>85%</td><td>92%</td><td>0xf4859576d776ccbc5c7848228da8edd47902d351b1195787742bf5a2927dfe8c</td></tr><tr><td>ETH</td><td>lisUSD</td><td>80%</td><td>92%</td><td></td></tr><tr><td>wBETH</td><td>lisUSD</td><td>80%</td><td>92%</td><td></td></tr></tbody></table>

For these markets, the total size of protected positions depends on the 7-day average LISTA holding:

<table data-header-hidden><thead><tr><th width="92.8984375"></th><th></th><th></th></tr></thead><tbody><tr><td>Tier</td><td>7-day Weighted Average LISTA Holding</td><td>Total Protected Position Size</td></tr><tr><td>1</td><td>≥ 10,000 LISTA</td><td>≤ $10,000</td></tr><tr><td>2</td><td>≥ 50,000 LISTA</td><td>≤ $50,000</td></tr><tr><td>3</td><td>≥ 200,000 LISTA</td><td>≤ $200,000</td></tr><tr><td>4</td><td>≥ 1,000,000 LISTA</td><td>≤ $1,000,000</td></tr><tr><td>5</td><td>≥ 5,000,000 LISTA</td><td>≤ $10,000,000</td></tr><tr><td>6</td><td>≥ 15,000,000 LISTA</td><td>≤ $50,000,000</td></tr></tbody></table>

With delayed liquidation, eligible borrowers' positions will be one of the following statuses:

* **Guarded**: LTV is below the original LLTV. The position is healthy and pre-qualified for protection if the market moves against you.
* **Protected**: LTV is between the original and the new LLTV. A 24-hour grace period begins. Consider repaying your loan or adding collateral to bring its LTV down.
* **Out of Guard**: Delayed liquidation is not active either due to insufficient $LISTA holdings or the remaining tier capacity was exhausted when its LTV crossed the original LLTV. A liquidation will be triggered.

Protected positions will get 24 hours to be repaid or added with more collateral to bring its LTV down. If after 24 hours, the LTV is still above the original LLTV threshold, a liquidation will still be triggered as usual.

If a position's LTV crosses the original LLTV, but its size exceeds the remaining tier capacity, a partial or full liquidations will still be triggered. After 1 or more liquidations, if the total size of all positions pending liquidation is below the maximum protected size, these positions will be Protected once again.

### Smart Lending Liquidation

Liquidation at Smart Lending works similarly but the value of collateral is calculated slightly differently. Refer to [this article](https://blog.lista.org/everything-you-need-to-know-about-liquidation-on-lista-smart-lending) for more details.


# Liquidation Zone

The **Liquidation Zone** is a mechanism within Lista DAO’s Lending protocol designed to enhance the efficiency and resilience of asset liquidation processes. It addresses limitations in the existing system by enabling community-driven liquidations for large-scale or complex collateral positions, particularly those involving non-standard assets (e.g., pt-tokens) or low-liquidity assets.

This feature ensures system stability during high-value liquidations, market volatility, or network congestion while incentivizing community participation.

### Purpose

The Liquidation Zone supplements the protocol’s automated liquidation system, which relies on Dutch auctions and whitelisted bots operated by Lista DAO. It activates when official bots cannot efficiently process liquidations due to:

* **Large liquidation amounts** (e.g., single positions exceeding $1M).
* **Non-standard assets** with complex structures (e.g., pt-susde, pt-clisBNB), which may face rapid collateralization rate spikes post-maturity.
* **Failed liquidation attempts** after multiple rounds.
* **Network constraints**, such as congestion or high gas fees, disrupting bot operations.

By opening liquidations to the community, the Liquidation Zone reduces bad debt risks, improves transparency, and rewards participants with arbitrage opportunities.

### Mechanism

#### Core Functionality

When a collateral position meets predefined criteria, it is transferred to the **Liquidation Zone**, allowing community members to participate in the liquidation process. Community liquidators can acquire assets at discounted prices via on-chain transactions, retaining profits after Lista DAO collects a fixed penalty fee. The process is as follows:

1. **Trigger Detection**: Bots identify positions eligible for the Liquidation Zone based on predefined conditions.
2. **Team Notification**: Bots alert the Lista DAO team with details of the position, including:
   * Liquidation ID
   * Platform (CDP or Lending)
   * Market and assets (e.g., BTCB/USD1 for collateral/debt)
   * Collateral and debt amounts (in assets and USD equivalent)
3. **Manual Activation**: The Lista DAO team manually enables community liquidation for the position.
4. **Community Liquidation**: Eligible community members execute liquidations, leveraging arbitrage opportunities.
5. **Permission Revocation**: After liquidation, the team revokes community access to maintain protocol control.

#### Example Bot Notification

```
Public Liquidation Alert
- Liquidation ID: xxx
- Platform: CDP/Lending
- Market/Assets: BTCB/USD1 (Collateral/Debt)
- Collateral Amount: xxx BTCB (~xxx USD)
- Debt Amount: xxx USD1 (~xxx USD)
```

### Conditions for Entering the Liquidation Zone

A collateral position becomes eligible for the Liquidation Zone when one of the following conditions is met:

1. **Liquidation Value Threshold**:
   * The position’s liquidation value exceeds $1M.
2. **Repeated Failed Liquidations**:
   * Official bots fail to liquidate the position after multiple attempts (e.g., over 1 hour), triggering a bot alert.
3. **Manual Designation**:
   * Protocol operators manually flag a position for the Liquidation Zone, typically in response to special circumstances (e.g., security vulnerabilities or emergency scenarios).

### Key Features

* **Community Participation**: Enables community members with arbitrage capabilities to liquidate assets, enhancing efficiency.
* **Profit Incentives**: Liquidators acquire assets at discounted prices, retaining profits after a fixed penalty fee.
* **System Resilience**: Mitigates risks from large-scale liquidations, non-standard assets, or network disruptions.
* **Transparency**: Public alerts and open processes ensure visibility and trust.

### Integration with Existing Systems

The Liquidation Zone operates alongside Lista DAO’s existing liquidation framework, which includes:

* **CDP Liquidations**:
  * Whitelisted bots (Lista DAO-operated).
  * Dutch auctions starting at 110% of collateral valuation (10% penalty).
  * Price reductions per block, up to a maximum number of reductions.
* **Lending Liquidations**:
  * Whitelisted bots.
  * Dutch auctions starting at 106% of debt (6% penalty, adjustable).
  * Flash liquidation for main positions and tail liquidation for residual amounts.

The Liquidation Zone activates only when these mechanisms are insufficient, ensuring a seamless transition to community-driven processes.

### Security Considerations

* **Controlled Access**: Community liquidation is enabled only for specific positions and revoked post-liquidation to prevent unauthorized access.
* **Bot Monitoring**: Continuous bot alerts ensure timely detection of eligible positions.
* **Manual Safeguards**: Team oversight mitigates risks during activation and ensures protocol integrity.

### Future Enhancements

* **Automated Triggers**: Explore gas price-based or asset-specific automation to reduce manual intervention.
* **Expanded Asset Support**: Enhance compatibility with additional non-standard or low-liquidity assets.
* **Community Tools**: Develop interfaces or guides to simplify community participation in the Liquidation Zone.


# Oracle

### What is an Oracle?

An oracle is a smart contract that provides external data, particularly price information, to blockchain applications. For lending protocols like Lista Lending, most oracles are providing price data with 8 decimal places of precision. For example, if the price of 1 BTC is 80,000, it would return 80,000 \* 100,000,000 = 8,000,000,000,000.

### Oracles in Lending Markets

Lending markets rely on oracles to:

* Determine the value of collateral and loan assets
* Calculate borrowing capacity
* Trigger liquidations when positions become undercollateralized
* Enable accurate interest rate calculations

### Oracles at Lista Lending

All oracles used in Lista Lending markets implement the IOracle interface, which has a single, standardized function:

`function peek(address asset) external view returns (uint256);`

This function returns the price of 1 collateral token quoted in usd.\
\
There is a single function:

`function getPrice(MarketParams calldata marketParams) external view returns (uint256);`

This function returns the price of 1 unit of collateral token quoted in the loan token, with appropriate scaling to account for decimal differences between tokens.

### Types of Oracles Compatible with Lista Lending

Various oracle implementations can be used with Lista Lending markets:

1. Price Feed Oracles: Utilize external price feeds (like Chainlink, Redstone, API3, Pyth, Chronicle) to calculate asset exchange rates.
2. Exchange Rate Oracles: Specialized for wrapped tokens or rebasing tokens where the exchange rate is deterministic (like wstETH/stETH).
3. Fixed-Price Oracles: Used for assets with known or predefined exchange rates, such as stablecoins pegged to the same value.

### Key Oracle Characteristics in Lista Lending Markets

* Immutable: Once a market is deployed, its oracle address cannot be modified
* Independent: Each oracle operates autonomously and can use different pricing sources
* Flexible Implementation: Curators can leverage various data sources while maintaining a consistent interface

### Oracle Selection by Market Curators

Market curators (not Lista) are responsible for selecting and implementing appropriate oracles for their markets. Each Lista Lending market specifies its oracle in the market parameters:

CollateralAsset/LoanAsset (LLTV%, OracleAddress, IRMAddress)

### Oracle Security Considerations

The security of an oracle is critical to the safety of a Lista Lending Market. Users should:

* Verify the oracle implementation for any market they interact with
* Understand the price sources being used
* Consider potential manipulation vectors or failure modes

The immutable nature of Lista Lending Markets means oracle selection is a permanent decision that defines the market's risk profile.

### Oracle community section

Some community members contributed to adapters that could be plugged into oracles.

* Lista nor author of the repository cannot be held responsible for any losses or damages that may result from the use of this information.
* Users are advised to conduct their own research and exercise caution when applying any strategies or methods described herein.


# Flash Loan

Flash loans are a powerful DeFi primitive that allow users to borrow assets without collateral, as long as the borrowed amount is returned within the same transaction block.

#### What Are Flash Loans in Lista Lending?

Lista Lending's flash loans are similar to other DeFi protocols where these:

* Allow borrowing without prior collateral
* Require repayment within the same transaction
* Execute in a single block
* Are primarily meant for developers and advanced users

#### How Lista Lending Flash Loans Work

The core flash loan functionality is implemented through the flashLoan function in the Moolah contract with a corresponding callback mechanism.

#### The Flash Loan Flow in Lista Lending

1. Initiation: A user contract calls moolah.flashLoan(token, amount, data)
2. Asset Transfer: Moolah transfers the requested token amount to the calling contract
3. Callback Execution: Moolah calls onMoolahFlashLoan(amount, data) on the caller contract
4. Execution of Logic: The user's contract executes its intended operations
5. Repayment: The user's contract must approve Moolah to pull back the borrowed amount
6. Completion: Moolah pulls the funds back from the caller contract

If at any point the flow fails (especially if the repayment fails), the entire transaction reverts.

### Implementing a Flash Loan in Lista Lending

To use a flash loan with Moolah, you need to:

1. Create a contract that implements the IMoolahFlashLoanCallback interface
2. Implement the onMoolahFlashLoan function that will handle your logic
3. Ensure your callback function approves the Moolah contract to jpull back the borrowed amount

### Flash Loan Use Cases with Lista Lending

1. Arbitrage: Execute trades across different protocols to profit from price discrepancies
2. Collateral Swaps: Replace one collateral type with another in a single transaction
3. Self-Liquidation: Liquidate your own position to avoid liquidation penalties
4. Flash Actions: Combine multiple Moolah operations in a single transaction

### Security Considerations for Lista Lending Flash Loans

1. Transaction Atomicity: If your callback fails to approve the repayment, the entire transaction will revert
2. Contract Security: Never leave funds in your flash loan contract permanently
3. Reentrancy: Be careful about calling external contracts within your flash loan logic
4. Gas Management: Flash loans are complex operations that consume significant gas

### Lista Lending Specific Callbacks

Lista Lending implements a broader callback system:

* IMoolahLiquidateCallback: For liquidation operations
* IMoolahRepayCallback: For repayment operations
* IMoolahSupplyCallback: For supply operations
* IMoolahSupplyCollateralCallback: For supplying collateral

This comprehensive callback system allows for more complex transaction patterns beyond simple flash loans, such as the "Flash Actions" test which combines supply, borrow, repay, and withdraw operations in a single transaction flow.

<br>


# User Flow

### 1. Deposit Assets into a Vault

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd3By57F7kuKMNq2sTRK2GNs5FAdSg9DzG5RslMa8LKVU9LnkPFsUKn2gHpYtf9K2aiPrLBOKHLc6wOI3Odqt70mAepwWZAhVVvDIYbpNstZKCsf2BCe7ZJMI362nKUfXCf2YZ0?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

Suppliers deposit a loan asset (e.g., USDT) into a vault of their choosing.

Each vault only has one loan asset (e.g., USDT) which can be deployed across multiple markets.

Once deposited, the vault allocates the loan asset across these markets to earn yield over time.

### 2. Vault Matches Supplier and Borrowers (P2P)

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfbe12E5zx-0ekWuSFxeqm8uVARnYYLg3NqBnLS8Cq3V8SKzqH0-pIRkVXVyLmR651TtKyJOjcC10a3LUMBhvwj6SI_IL-7XayBgXCpOO8qArS5hHAd_T3HMVuEXK4qJfdZkjxi?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

The smart contract will actively match suppliers with borrowers within its associated markets, removing the intermediary needed for lending. The vault’s loan asset (e.g., USDT) is lent out via a specific market, earning interest from that specific Market. This P2P model results in higher interest for suppliers and lower borrowing costs for borrowers.

### 3. Borrowing with Collateral

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXddK9Nks8JeXyc2bRxQSnsygltWFyamhuUYlzAr25t40bIov8nOzJ-GXobvE0J1ujddsO76gjmODFA_B4YUtw-ROfKABFGkix49XYpXroUorx4ouEZ5OGyU6EIDqbkwumv8wys?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

1. Users who needs a specific asset should select a market to borrow from and deposit the required collateral. For example, in a USDT/BNB market, the borrower deposits BNB as collateral and borrows USDT.
2. The market locks the collateral and issues the borrowed asset, USDT
3. Each Market’s loan parameters (e.g., LLTV, collateral asset type, etc) are defined at deployment.

### 4. Auto Interest Rates Adjustments

1. Interest rates in each market is automatically adjusted based on supply and demand (utilization rate).
2. The markets available on Lista Lending use a multi-oracle system to fetch accurate price feeds, protecting against price manipulation and ensures fair loan valuations.

### 5. Repay or Get Liquidated

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcAPboGffxRDG0Dksf1hBFOR4gFLnOUXtqOc5ZH6quFlC1MQ0GrM-3TXEgXZXTCd1zNkYw1FdNMV2uGxU1yc9Vahl5kf2GcVey0TmHOt2WKQ93HLOr50H4Vzj8myxejYUvwqll3?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

1. Borrowers can repay loans anytime, plus the interest accrued.
2. Once repaid, collateral is partially or fully unlocked and available for withdrawal.
3. If the LTV ratio goes beyond the market's LLTV ratio, a liquidation will be triggered, selling the collateral to cover the loan, ensuring the vault remains solvent and suppliers are protected.

### 6. Withdraw Your Funds

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeYJtL_bZPzZK8XsGtLkpt5dbN4VPm6hhsmgQNk0liLIqkDTl7hdr9BOxnqYLWU7vl2NETDWYK2zRQ8rVburvkbXROnn4BFZvEB9Dyoov9L01VRqk1OhpoKb4fsq6hmP-IRD0k?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

1. Suppliers can withdraw their deposits and stop earnning interest at any time, provided the vault has sufficient liquidity available for withdrawal.
2. Borrowers can withdraw all their collateral after repaying the loan plus interest in full.


# Third-Party Vault Risk Management

Third-Party Vault Risk Management Third-party vaults are a core component of Lista Lending, enabling independent Curators (also referred to as vault managers or operators) to create and manage permissionless lending markets built on top of Lista DAO’s open-source smart contract infrastructure.

Lista DAO is a decentralized protocol that provides permissionless, open-source infrastructure and operates solely via on-chain smart contracts. While these vaults broaden the range of lending opportunities, Lista DAO provides permissionless infrastructure (smart contracts) only. Crucially, Lista DAO does not participate in the design, configuration, management, or ongoing operations of any third-party vault, nor does it assume any responsibility or liability for their performance, security, or chosen parameters.

The appearance or display of any vault on [lista.org](http://lista.org) within the UI is for informational purposes only and does not constitute a recommendation, review, or endorsement by Lista DAO.

#### **Vault Deployment and Independence**

Any entity may deploy a third-party vault permissionlessly and become a Curator on Lista. Each Curator is exclusively responsible for:

1. Selecting collateral assets and loan assets (including ensuring adequate oracle coverage)
2. Setting all risk parameters (including Liquidation Loan-to-Value Ratio, LLTV)
3. Configuring interest rate models and other market parameters
4. Continuously monitoring, maintaining, and updating vault parameters as market conditions evolve Curators hold full responsibility for their vault’s strategy design and risk profile.

Lista DAO does not review, audit, certify, or endorse third-party vaults or their respective Curators.

#### **Risk Parameter Management**

Curators have full authority over all critical risk parameters, including:

1. Liquidation LLTV: the threshold at which liquidation is triggered
2. Market-specific debt ceilings
3. Interest rate and target utilization levels
4. Any other settings that directly affect the vault’s risk exposure and solvency Curators may adjust parameters at any time, and such changes may impact all lenders and borrowers within the vault. Improper or overly aggressive parameter settings may lead to rapid liquidations, accumulating bad debt, or complete loss of supplied liquidity.

Lista DAO bears no responsibility for any outcomes arising from Curator decisions or parameter adjustments.

#### **Oracle and Pricing Mechanisms**

Oracle and Pricing Mechanisms Third-party vaults rely on Lista’s shared multi-oracle system (Chainlink, Pyth, and fallback mechanisms). While Curators cannot unilaterally modify the oracle sources provided by Lista DAO, they are responsible for selecting assets that have adequate and reliable oracle coverage.

However, assets selected by the Curators may encounter various risks, including oracle limitations, thin liquidity, delayed updates, or extreme volatility.

Any losses resulting from oracle delays, errors, deviations, or outages are solely borne by users and Curators.

#### **Supply and Borrow Caps**

Supply and Borrow Caps Curators may set supply caps and borrow caps as additional risk controls. These limits apply only at the vault level and are fully managed by the Curator.

Lista DAO does not supervise, enforce, or endorse these limits and bears no responsibility for their effectiveness or impact.

#### **Advanced Risk Control**

Advanced Risk Control Protocol-level emergency measures (e.g., system-wide pause) can only be executed following a Lista DAO governance multisig and are generally reserved for systemic risks rather than vault-specific issues.

These measures are at the sole discretion of Lista DAO governance. In the event of insolvency, exploits, or other extreme risks, Lista DAO reserves the right (but not the obligation) to suspend or close any at-risk vault at any time.

Users should not rely on this as a guarantee of loss prevention, as such measures are discretionary and may not prevent all forms of loss.

#### **Important Safety Notice**

Although Curators have substantial authority over the economic configuration and adjustable parameters of their vaults, they have no ability to withdraw, seize, or redirect user funds. All vaults remain fully non-custodial; Curator permissions are strictly limited to parameter and market logic adjustments.

Nevertheless, the safety, sustainability, and operational soundness of each vault depend entirely on the capability, diligence, and integrity of the respective Curator. Lista DAO makes no representations or warranties, express or implied, regarding any third-party vault, its security, or its financial performance. Users must conduct their own due diligence (DYOR) and seek independent professional advice before supplying liquidity to any vault. B

By participating, you acknowledge that Lista DAO acts solely as an infrastructure provider and assumes no liability whatsoever for vault operations, Curator decisions, or potential losses, and you irrevocably waive any claim of recourse against Lista DAO to the maximum extent permitted by applicable law.


# Liquid staking - slisBNB

## What is liquid staking?

Liquid staking is the act of staking your crypto assets on Proof-of-Stake (PoS) blockchains while retaining liquidity access. Typically, this is done by receiving a liquid staking token (LST) minted by the staking protocol.

Traditionally, when a user stake their cryptocurrency in a PoS network, the assets are locked up for a certain period and cannot be unstaked or transferred. Liquid staking introduces a tokenized version of these staked assets that can be traded, sold, or used in decentralized finance (DeFi) applications while they're still staked.

These liquid staking tokens are usually issued at a 1:1 ratio to the staked assets and earn rewards in the same way as the original staked assets. Therefore, they allow users to simultaneously secure the network, earn staking rewards, and have the flexibility to participate in other parts of the crypto economy.

slisBNB is Lista DAO's LST for staking BNB and the key to unlock the entire Lista ecosystem.

## Benefits of Liquid staking

As the name suggests, one of the key advantages of liquid staking is liquidity, as it allows users to stake their tokens while retaining the flexibility to trade or use them in decentralized finance (DeFi) applications without waiting for lock-up periods to end. This flexibility enhances capital efficiency and enables users to capitalize on market opportunities quickly.

In general, liquid staking provides 3 key advantages within the current DeFi ecosystem:

#### Increased Capital Efficiency

Traditional staking provides users with the opportunity to receive rewards for verifying transactions. Liquid staking allows users to continue earning these rewards while also generating additional yield through various DeFi protocols. This approach maximizes the utility of staked assets by enabling simultaneous participation in staking rewards and other DeFi activities.

#### Unlocked Liquidity

Unlike traditional staking protocols that often require long “unbonding” periods, Liquid Staking Tokens (LSTs) provide the flexibility to exit positions or engage in market activities promptly. By converting staked assets into tokens, LSTs unlock their inherent value, allowing them to be traded and used as collateral across DeFi protocols.

#### Composability in DeFi:

LSTs enhance flexibility by allowing users to stake on one platform while leveraging their LSTs on another. These tokens represent receipts for staked assets, making them compatible with a wide range of DeFi applications, including lending pools and prediction markets.


# About slisBNB

slisBNB is the native yield bearing and liquid staking token for BNB, built on Lista DAO. slisBNB appreciates against BNB in line with BNB’s staking APR, allowing users have the freedom to earn additional yields on different DeFi platforms while earning staking rewards passively.

slisBNB currently holds the highest Total Value Locked (TVL) among liquid staking tokens for BNB in the market, and it is live on both BNB Smart Chain, and Ethereum network.

## Use Cases

Holding slisBNB gives you access to:

* **Borrowing**: Depositing slisBNB on Lista allows you to borrow BNB, lisUSD, and many other assets. Your collateral - slisBNB - will keep earning staking rewards while you can use the borrowed assets for other purposes.
* **Trading/Liquidity Provision**: Most LSTs can be traded on decentralized exchanges (DEXs). You get access to liquidity any time you want without the unstaking process that usually takes days. You can also deposit your LSTs into liquidity pools for these DEXs to earn trading fees. At Smart Lending, slisBNB can be used both as collateral and liquidity provision, earning two income streams at the same time.
* **Instant Staking/Unstaking**: Since LSTs can be traded, anyone can swap their BNB for slisBNB to instantly stake their BNB, or the other way around for instant unstaking. This skips the unstaking period but may cost you slightly more than the usual process.
* **Binance Launchpool Rewards**: Depositing slisBNB into Lista Lending or Collateral Debt Positions (CDP), providing BNB/slisBNB liquidity on Lista Smart Lending or ThenaFi will allow you to mint slisBNBx, a non-transferable token that grants you access to Binance Launchpool airdrops.

Lista will continue to add more utility to slisBNB and provide more options for slisBNB holders.


# Rewards and Fees

Staking rewards are received for delegating BNB to ListaDAO's validators. Validators take their cuts from rewards before sharing it to the protocol as claimable tokens. The rewards earned are split into two parts:

* **95% goes to slisBNB holders** in the form of slisBNB value appreciation: slisBNB holders’ share of the BNB pool keeps increasing due to the increase in the slisBNB/BNB exchange-rate.
* **5% goes to the protocol**.


# Technical Guide

Please click this link to explore the technical details.

{% content-ref url="/pages/R8CgAFnu6UXo2YyH8r1e" %}
[Liquid Staking(slisBNB)](/for-developer/liquid-staking-slisbnb)
{% endcontent-ref %}


# Smart Lending & Swap

## Smart Lending

Smart Lending is Lista’s next generation lending solution where collaterals are deposited into liquidity pools at Lista’s decentralized exchange (DEX). This opens up an entirely new income stream for previously dormant collateralized assets - trading fees.

Traditionally, DEXs often suffer from risks like impermanent loss. Smart Lending addresses this by limiting withdrawals with imbalanced collateral ratio, maintaining pool stability.

### How It Works

#### Deposit & Borrow

Just like on any other market at Lista Lending, collateral is required before borrowing. Collateral assets deposited via Smart Lending will be sent into a liquidity pool (LP) on Lista.

As with most liquidity pools, there are 2 assets and traders can swap any one asset for the other at a certain price and trading fee. The prices of the assets are represented in the ratio between their volumes. If the prices of both assets remain unchanged, the ratio between them will also be fixed. To avoid unexpected price impact, whenever collateral assets are deposited, they must be of the same ratio.

If assets are deposited under Fixed Ratio mode, Lista will calculate the exact amount of both assets based on their volume ratio in the pool and initiate the deposit. When under Custom Ratio mode, however, Lista will swap the excess asset for the other to rebalance them to the same volume ratio before sending them into the pool.

When the collateral is successfully deposited, users can start borrowing assets from the vault at a certain interest rate.

#### Repay & Withdraw

When a loan is repaid in part or in full, a certain amount of collateral will be available for withdrawal.

Collateral withdrawal works just like deposit. Under Fixed Ratio mode, the amount of assets withdrawn will be of the same ratio as they are in the pool. Under Custom Ratio mode, Lista will swap one asset into the other to make sure assets are of the custom ratio.

When 'Pro Mode' is toggled on, liquidity positions can be withdrawn as a standalone token. For instance, you can withdraw your slisBNB\&BNB / BNB liquidity position and deposit it into slisBNB\&BNB / USD1 market because the collateral asset is the same: your slisBNB\&BNB liquidity position.

Sometimes, liquidity positions can not be fully withdrawn (leaving < $0.01 in the pool). When this happens, please switch to Fixed Ratio and you will receive your assets in full.

#### Liquidation

Just like other products on Lista Lending, Smart Lending loans face the risk of liquidation. Whenever the loan to value ratio (LTV) goes above a certain threshold, Lista will take over the position and start the liquidation process. The corresponding amount of collateral will be withdrawn from the pool and swapped into other assets to cover the loan.

Please refer to our [liquidation documentation](https://docs.bsc.lista.org/introduction/lista-lending/liquidation) and [this article](https://blog.lista.org/everything-you-need-to-know-about-liquidation-on-lista-smart-lending) for more details.

## Smart Swap

Smart Swap is a dedicated front end for Lista’s DEX. This DEX is open for Lista users to swap assets, provide liquidity via Smart Lending, and also available as one of the routes in Binance Swap.

Lista has partnered with LI.FI to expand Smart Swap's reach. Now, assets from Ethereum main net, Arbitrum, Polygon, and more chains can be swapped into assets on the Binance Smart Chain.

Smart Swap works just like most other DEXs:

<figure><img src="/files/1ejK1fycNCvYfW6B79PC" alt=""><figcaption></figcaption></figure>

where you get to choose the assets you wish to swap and receive, slippage tolerance, minimum received assets, price impact, and trading fee that goes to Smart Lending liquidity providers.


# Collateral Debt Position - lisUSD

Lista DAO functions as a open-source CDP protocol where users can deposit a variety of Crypto assets (BNB, ETH, Stablecoins, and other cryptocurrencies) as collateral and borrow our decentralized stablecoin, **lisUSD**, against these assets. It uses and expands the proven MakerDAO model for a decentralized, unbiased, collateral-backed stablecoin.

## Why Lista DAO?

Many stablecoin protocols have become too dependent on one model (entirely collateralized) or gone to another extreme (entirely algorithmic with no backing).

Collateralized stablecoins either carry custodial risk or require on-chain overcollateralization. These models provide a fairly tight peg with higher confidence than purely algorithmic designs.

Purely algorithmic designs such as Basis, Empty Set Dollar, and Seigniorage Shares provide a highly trustless and scalable model that captures the early Bitcoin vision of decentralized money but is lacking in terms of stability.

Unfortunately, the decentralized crypto-lending model we saw in the past decade did little to democratize financial services. Most blockchain-based lending protocols promise low fees, fast execution, and high returns, but they continue to suffer inefficiencies in design stemming from the “Stablecoin Trilemma”. This trilemma forces stablecoin developers to focus on mechanisms that can sacrifice either decentralization, price stability, or capital efficiency.

The intent behind Lista DAO is to propose a solution to the capital efficiency problem of overcollateralized stablecoins experience by allowing users to leverage their funds with a collateral debt position (CDP). Through a combination of Liquid Staking, the functionality of the MakerDAO model, and additional liquidity from LPs on DEXs, Lista will avoid issues such as frozen funds (fiat-backed) or held value lost (algorithmic) because of price instability.

Lista was built by experienced DeFi experts and smart contract developers to position the world-class revolutionary lisUSD stablecoin as the most widely used one, by leveraging Proof-of-Stake (PoS) rewards, Binance Liquid Staking, and yield-bearing assets.

Lista DAO aims to help promote blockchain technologies into mainstream adoption by incentivizing borrowers and stakers to become a part of a new decentralized economy of scale.

#### Lista DAO allows users to: <a href="#lista-dao-allows-users-to" id="lista-dao-allows-users-to"></a>

* Collateralise BNB.
* Borrow lisUSD
* Farm lisUSD
* Repay the loan (lisUSD + borrowing interest)
* Withdraw collateral
* Claim rewards in LISTA for borrowing lisUSD


# Collateral

Lista DAO offers a diverse range of collateral asset options, from L1 tokens, to LSTs and LRTs.

This flexibility enables users to leverage different assets they own as security, depending on their individual investment strategies and risk preferences. By providing a broad selection, Lista DAO enhances user accessibility and convenience, catering to a wide spectrum of financial needs and preferences within the community.\
\
Other than classic collateral assets such as ETH and BNB, Lista DAO also offers two particular asset classes as collateral on our lisUSD lending platform, LSTs, and LRTs.

### Liquid staking Tokens (LSTs)

Liquid staking tokens represent a user's staked assets on a blockchain network. These tokens allow users to participate in Proof-of-Stake (PoS) networks without sacrificing liquidity.

Traditionally, when a user stake their cryptocurrency in a PoS network, the assets are locked up for a certain period and cannot be used. Liquid staking introduces a tokenized version of these staked assets that users can trade, sell, or use in decentralized finance (DeFi) applications while they're still staked.

These liquid staking tokens are usually issued at a 1:1 ratio to the staked assets and earn rewards in the same way as the original staked assets. Therefore, they allow users to simultaneously secure the network, earn staking rewards, and have the flexibility to participate in other parts of the crypto economy.

### Liquid restaking tokens (LRTs)

Restaking refers to the process of staking an asset again after it has already been staked once. This method allows the staked asset to be utilized in a different staking program or on another platform, increasing its utility and providing the holder with additional rewards, although this comes with heightened risks of slashing.

Liquid restaking tokens (LRTs) is a specific variant of this process, which involves liquid staking tokens. Here, a staker initially commits their assets to a validator and receives a token that represents this stake. The staker can then use this liquid staking token to participate in a restaking protocol, further leveraging their initial investment.


# Classic collateral options

Lista DAO offers a range of traditional collateral options, which can be used as collateral to borrow lisUSD. Below is the list of our classic collateral options:

* BNB
* ETH
* slisBNB
* wBETH
* BTCB
* FDUSD
* wstETH
* USDT


# Lista Innovation Zone

The Lista Innovation Zone is a new initiative by Lista DAO designed to integrate new Liquid Restaking Tokens (LRTs) and Liquid Staking Derivatives (LSDs) into our ecosystem, by listing them as potential collateral options for borrowing lisUSD. This move reflects our commitment to keeping pace with the rapid innovations in the crypto and DeFi landscapes, ensuring that Lista does not fall behind in adopting new technologies and asset classes.

However, we are also aware of the increased risks associated with these new assets which could compromise the stability and security of Lista’s platform. Hence, assets that are listed under Lista’s innovation zone will be subjected to more stringent security checks, and higher collateral ratio requirements.

Below is the list of assets under the Lista Innovation Zone:

* USD1 (World Liberty Finance)
* solvBTC (Solv Protocol)
* SolvBTC.BNN (Babylon)
* Stone (Stakestone)
* sUSDX (Stables Labs)
* pumpBTC (PumpBTC)
* mBTC (Magpie)
* mCAKE (Magpie)
* mwBETH (EigenPie)
* USDF (Astherus)
* asUSDF (Astherus)

### Pancake Swap LP Collateral

Users can also utilize their PancakeSwap LP positions to borrow lisUSD under our innovation zone while maintaining exposure to yield opportunities.

In phase 1, the following LP pairs that will be supported are as follows:

* USDT/WBNB V3 5bp
* USDT/USDC V3

#### Key Features of the Integration <a href="#id-6149" id="id-6149"></a>

**Supported LP Tokens**: The integration supports PancakeSwap’s V2, V3, Infinity, and StableSwap LP tokens, starting with those holding the highest Total Value Locked (TVL) in Phase 1, with plans for gradual expansion.

**Collateral Valuation**: Since there is no direct market for pricing LP tokens, our custom LP Oracle and LP Manager system will provide accurate valuation of the LP tokens with built-in safety factors to mitigate under collateralization and liquidation risks.

**Risk Management**: To safeguard the protocol, we’ve implemented the following risk management

1. Conservative safety factors in our LP price calculation using LP Oracle & LP manager. This means that we will have a
2. borrowing caps per LP type, and circuit breakers that pause borrowing if major tokens (BTC, ETH, BNB) experience a price drop of more than 5% within 10 minutes.

**Liquidation Process**: In the event of collateral value falling below the Loan-to-Value (LTV) threshold, our system supports LP redemption before triggering a Dutch auction, maximizing recovery value for users.

**Profit Sharing**: To strengthen our partnership with PancakeSwap, 50% of borrow interest and liquidation fees generated from lisUSD borrowed against LP tokens will be shared with PancakeSwap, fostering mutual growth and ecosystem benefits.

#### Example <a href="#id-8ec5" id="id-8ec5"></a>

Here is a video example of how users can borrow lisUSD using Pancake swap LP tokens under our CDP zone. In this example, we will be using USDT/USDC V3 LP tokens as an example.

{% embed url="<https://www.loom.com/share/96cac51ad21f497a9edaa9d2506b07ce>" %}


# Loan liquidation

The liquidation mechanism is applied to ensure that <mark style="color:blue;">Lista -> Lista lisBNB -> slisBNB lisUSD -> lisUSD</mark> in pools remains fully backed by BNB collateral.

Liquidation of borrowed lisUSD may happen when the current worth of collateral with safety margin is lower than the borrowed amount of lisUSD and the borrowed lisUSD is sold in a Dutch auction (liquidated) to have the debt paid.

The liquidator receives gas compensation as a reward for starting the liquidation. It is an opportunity arising in the liquidation process, and any Lista user can do it, including the borrower themselves. Besides this opportunity, anybody who restarts the Dutch auction receives the same reward for doing it.

The debt is absorbed by Lista and the sold collateral is distributed among liquidators who participate in the auction.

If any remainder is left after the auction ends and the debt is paid, it is sent to the borrower's wallet.

For a detailed description of the liquidation process, do have a look at the liquidation model below, or refer to our detailed liquidation mechanics [here](/for-developer/collateral-debt-position/mechanics).

We have a new liquidation model which we call the Lista liquidation zone, do find out more about it [here](/introduction/lista-lending/liquidation/liquidation-zone).

## Liquidation model[​](https://helio.money/docs/mechanics/#liquidation-model) <a href="#liquidation-model" id="liquidation-model"></a>

<table><thead><tr><th width="370">Variable/Step</th><th>Value/Formula</th></tr></thead><tbody><tr><td>Price of 1 unit of collateral</td><td>$2</td></tr><tr><td>Collateral ratio</td><td>66%</td></tr><tr><td>Collateral price based on collateral ratio</td><td>$1.32</td></tr><tr><td>Assume User deposit 10 units collateral</td><td>10 * 2 = $20</td></tr><tr><td>Borrow limit</td><td>user_deposit * collateral_ratio = 20 * 0.66 = $13.2</td></tr><tr><td>Assume User borrows $13.2 of lisUSD</td><td>13.2 lisUSD</td></tr><tr><td>Assume Price of 1 unit of collateral decreases to</td><td>$1.8</td></tr><tr><td>Collateral unit price with safety margin</td><td>current_collateral_unit_price * collateral_ratio = 1.8 * 0.66 = $1.188</td></tr><tr><td>Current worth of collateral with safety margin</td><td>price_of_colatteral * amount_of_collateral= 1.188 * 10 = $11.88</td></tr><tr><td>Positive diff puts user under liquidation line</td><td>borrowed_amount - current_total_colateral_borrow_limit = 13.2 - 11.88 = $1.32</td></tr><tr><td>Amount of collateral that goes to Dutch auction</td><td>10</td></tr><tr><td>Liquidation penalty (fixed by Lista governance)</td><td>10 % of the debt</td></tr><tr><td>Debt to cover in the auction</td><td>borrowed_amount * liquidation_penalty = 13.2 * 1.10 = $14.52</td></tr><tr><td>buf (percentage similar to liquidation penalty, fixed by Lista governance)</td><td>2%</td></tr><tr><td>Starting auction price (top)</td><td>current_collaterral_unit_price * buf = 1.8 * 1.02 = $1.836</td></tr><tr><td>Somebody triggers auction and gets tip + chip as a reward for doing it (described later)</td><td></td></tr><tr><td>Auction starts and the price gradually decreases. Liquidator can participate to buy customized amount of liquidated collateral</td><td></td></tr><tr><td>tau (time until price is 0; fixed by Lista governance)</td><td>e.g. 3600</td></tr><tr><td>dur (fixed by Lista governance)</td><td>time in seconds elapsed since the auction start, e.g. 600</td></tr><tr><td>Linear decrease of price (subject to be disrupted at the below event)</td><td>top * ((tau - dur) / tau) = 1.836 * ((3600 - 600) / 3600) = $1.53</td></tr><tr><td>Pause auction because of one of two conditions: — tail (specific amount of time elapsed; fixed by Lista governance) OR — cusp (% of price drop; 40% start auction price; fixed by Lista governance)</td><td>either requirement is met, the auction will be restarted</td></tr><tr><td>Wait till someone restarts auction</td><td></td></tr><tr><td>tip (flat fee; fixed by Lista governance)</td><td>5 lisUSD</td></tr><tr><td>chip (dynamic fee; fixed by Lista governance)</td><td>0</td></tr><tr><td>Restarter gets tip + chip as a reward</td><td></td></tr></tbody></table>


# lisUSD

lisUSD is a decentralized, unbiased, collateral backed destablecoin soft-pegged to the US Dollar. Users who have collateralized their assets via Lista are eligible to take out a loan in lisUSD against their collateral. lisUSD is generated, backed, and kept stable through collateral assets that are deposited into CeVault functioning as the Lista collateral vault.


# Stable Pool - Price stability Module (PSM)

## Price Stability Module (PSM)

The Peg Stability Module (PSM) is a critical component designed to maintain the stability and usability of lisUSD by facilitating seamless conversions between centralized stablecoins and lisUSD. Here’s a breakdown of its main features:

### 1. Convert Fee Structure[​](https://helio.money/docs/price-stability#hays-price-stability-mechanism) <a href="#hays-price-stability-mechanism" id="hays-price-stability-mechanism"></a>

With the launch of the PSM, users will be able to mint lisUSD using USDT or USDC at a 1:1 ratio with a 0% mint fee.

NOTE: The 0% fee is not permanent. In the future, if lisUSD trades at a premium, a mint fee may be introduced, with fee adjustments made in precise increments of 0.01%.

A) Fee precision: 1 basis point (0.01%)

B) Convert fee will be charged in lisUSD

### 2. PSM Minting Cap

The Peg Stability Module (PSM) will have a cap of 5 million lisUSD at launch, supporting the conversion of up to 5 million centralized stablecoins.

A) Once the cap is reached, adjustments will be made to accommodate additional conversions.

B) Prior to launch, 5 million lisUSD will be pre-minted and deposited into the PSM contract.

### 3. Redeeming Centralized Stablecoins

For users who wish to convert lisUSD back into centralized stablecoins, a daily limit of 500,000 lisUSD will apply, constrained by the available reserves in the vault.

These conversions will incur a 2% fee so as to encourage users to swap lisUSD into other stablecoins directly on PancakeSwap for potentially better rates.

The centralized stablecoins acquired via the PSM will play a critical role in maintaining the stability of lisUSD, ensuring its value remains closely pegged to 1 USD.

## lisUSD Stablepool

Through the use of our PSM module, the stablepool is created under our [Earn](https://lista.org/earn?utm_source=gitbook\&utm_medium=article\&utm_campaign=stable-pool-price-stability-module-psm) section here:

<figure><img src="/files/j66lr2X4fyJRWZfEgE0c" alt=""><figcaption></figcaption></figure>

Users can now deposit their USDT to enjoy a yields coming from LISTA token emission, as well as lisUSD saving rate. Through the PSM, the USDT deposited into the USDT Stablepool will be swapped into lisUSD at a 1:1 ratio and deposited into the lisUSD stable pool.

More information on lisUSD saving rate (LSR) can be found [here](/introduction/collateral-debt-position-lisusd/lisusd/lisusd-saving-rate-lsr) in the next section.<br>


# lisUSD Saving Rate (LSR)

## LSR: A New Staking Product for lisUSD <a href="#b771" id="b771"></a>

The LSR (lisUSD Savings Rate) is a new staking product designed to replace the existing lisUSD staking pool. This upgrade offers users more flexibility and a streamlined experience while maintaining attractive earning opportunities.

Users who currently hold assets in the existing lisUSD staking pool will need to manually withdraw and migrate their assets to LSR. While there is no set deadline for migration, the current pool will no longer receive incentives, and its user interface will be maintained only until June 30, 2025. The staking contract will remain active until all assets are withdrawn.

The LSR introduces several enhanced features. It will offer a fixed interest rate that will initially be adjusted manually. The LSR pool will be capped at 30 million lisUSD to ensure sustainability, and no additional deposits will be allowed once the cap is reached. Withdrawals, however, will remain open.

Deposits and withdrawals can be made at any time, provided there is enough lisUSD in the pool. If the pool lacks sufficient liquidity, users will be able to withdraw their funds within a maximum of 14 days. The interest earned in LSR will compound per block, allowing users to benefit from exponential growth as today’s interest becomes tomorrow’s principal.


# D3M - Direct Deposit Module

## What is D3M? <a href="#e483" id="e483"></a>

D3M, or the Direct Deposit Module, is a mechanism that enables the direct minting of stablecoins — in this case, lisUSD — and deposits them into DeFi platforms to bolster liquidity and optimize market rates. Unlike traditional minting tied to collateralized assets, D3M leverages credit-based minting, allowing more flexible supply management and creating new opportunities for ecosystem growth.

Lista DAO’s D3M will inject lisUSD directly into DeFi lending platforms, creating new use cases for lisUSD while providing a stable borrowing environment for users.

## Restricted Use of Minted lisUSD <a href="#id-66a3" id="id-66a3"></a>

To ensure the integrity of the system, all lisUSD minted via D3M will be exclusively allocated to liquidity pools on selected platforms like Aave and Venus. This guarantees that the funds directly contribute to lisUSD’s DeFi applications without risk of misuse.

By enhancing liquidity on these platforms, lisUSD gains more utility, fostering greater adoption and demand among users.

## Market Rate Optimization <a href="#e925" id="e925"></a>

D3M introduces an advanced mechanism for controlling market rates by dynamically adjusting lisUSD supply on lending platforms. Active Market Operations (AMO) on Aave and Venus allow for more granular rate control compared to direct adjustments on the Lista DAO platform.

* Competitive Borrowing Rates: The aim is to keep borrowing rates for lisUSD on Aave/Venus lower than those on the Lista DAO platform, making it an attractive choice for short-term borrowers.
* Platform-Specific Strategies:
* Aave/Venus: Ideal for short-term borrowing with higher capital efficiency and dynamic rates.
* Lista DAO Platform: Best for long-term borrowing, offering stable rates determined through community governance.

## Revenue and Ecosystem Growth <a href="#id-6a79" id="id-6a79"></a>

The returns generated from lisUSD deposits on Aave and Venus, including interest and token rewards, will be funneled back into Lista DAO’s treasury. These funds will support ecosystem growth, fund proposals, and strengthen community rewards.

## Phase 1 Implementation Details:

* Initial Minting Cap: 2.5 million lisUSD
* Supported Platforms: Venus and similar DeFi protocols
* Mint lisUSD for deposit into Venus Core Pool
* Support for deposits and withdrawals of principal and interest
* Ability to burn minted lisUSD when necessary
* Profit and reward retrieval mechanisms to ensure the DAO benefits directly from lending platform activities.


# Algorithmic Market Operations (AMO)

To maintain lisUSD’s price stability & peg at $1, it is crucial to balance lisUSD’s supply and demand in the circulating market and LPs. Previously, the borrow rate of lisUSD was regularly adjusted to indirectly affect the supply and demand of lisUSD. With the launch of our AMO, Lista DAO will implement a dynamic borrow rate, similar to Curve Finance’s [MonetaryPolicy contracts](https://docs.curve.fi/crvUSD/monetarypolicy/) for crvUSD, to further strengthen price stability of lisUSD.

At the start, the Lista core team will decide the parameter based on market conditions. In the futures, parameter changes will require a proposal and community vote.

Additionally, to ensure the stability and responsiveness of our platform, the core team reserves the right to adjust the borrow rate flexibly in response to significant market fluctuations. This approach allows us to adapt to rapidly changing market conditions without requiring a snapshot proposal.

Users can rest assured that any adjustments will be made with careful consideration to maintain balance and align with market realities.

**The maximum borrow rate at any point in time will be capped at 20%.**

## Interest Rate Mechanics

The interest rates in lisUSD markets are not static but fluctuate based on a set of factors, including:

1. The price of lisUSD, which is determined through Binance oracle.
2. The variables r0, and Beta.

### The formula for calculating the Borrowing interest rate (r) is as follows:

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXfRbturnppWrw7w0t-PLXhA2vzUoiV-iNor96k0jyzwnkHgvWjGfpEo85koiXXrodJJdSlZKPgDfYANjMgBFRgzIrQuoNqbLL_m6Ku7XoCEPIUOFU2D6hvjwJTgzzcDyMAEoIlnBlIy4fW_S2m7_Dwghk5v?key=qpnu5MtZ54GEwy9P7UA52A)

### Key variables in this calculation include:

**r:** Annual Percentage Yield (APY)

**r0**: Default annual rate, different for each collateral type, configured when launched on the smart contract

**exp(x)**: Exponential function of x (e\*e\*e\*...\*e)

**Price(lisUSD)**: Current price of lisUSD, obtained from an oracle

**Beta**: Adjustment parameter, configured when launched on the smart contract

*Note\* For each different Collateral, a different r0 is set. However, the maximum r0 will always be capped at 200% or less at any point in time.*

*Note\* For each different Collateral, a different Beta will be set. As seen in r calculation, the Beta has a huge effect on x, and thus r.*

### Example:

r0 = 8%, Price(lisUSD) = $0.98, Beta = 2%\
r = 8% \* exp\[(1 - 0.98)/2%] = 21.746%

This means if the price of lisUSD is $0.98, with r0 = 8% and Beta = 2% , the current borrowing rate will be 21.746%. Users will repay lisUSD, reducing the supply.

## Calculation for r

For accuracy and consistency, both r and r0 are expressed in terms of 10^27 to denote precision and are calculated per second.

### Here are the steps taken when calculating for r:

1. Retrieve the current price of lisUSD to get price(lisUSD). (r0, Beta is fixed for each collateral)
2. Update the current borrow rate every 15 minutes or when users interact with the contract (borrow, repay)
3. Calculate the borrow interest based on the current rate

The exact formula for calculating the interest rate (r) is as follows:

![](https://lh7-us.googleusercontent.com/docsz/AD_4nXfgarTeoLR1RoaLXOnfPPHESQmX4s-A14bVKyUlWWtxtY6XIYSqS1Tz_jFC8Uc6CMPQ8Yopx9FZ8ltTyRyqy9bXRZTiFGrq7WEGitmIROHEHnA2LoLJUfy_sd6uaRRJlbbGuvyr0ER-YCKi1yZ9URa5dEtL?key=qpnu5MtZ54GEwy9P7UA52A)

**r**: Interest rate per second, in terms of 10^27, converted to APY, always be less than 200% at any point in time

**r0**: Default rate, different for each collateral type, configured when launched on the smart contract

**exp(x)**: Exponential function of x ((e\*e\*...\*e)

**Price(target)**: Target price ($1), calculated in terms of 10^8

**Price(lisUSD)**: Current price of lisUSD, obtained from Binance oracle, in terms of 10^8

**Beta**: Adjustment parameter, configured when launched on the smart contract, tentative rang: (3 \* 10^5, 10^8)

**APY(Default)**: Confirms r0

All smart contract details can be found [here](#source-code-parameters).

## Source code parameters:

r0:

```solidity
DynamicDutyCalculator.ilks(address _collateral).rate0
```

exp(x):

```solidity
  function exp(int256 delta, int256 beta) internal pure returns (uint256) {
        if (delta < 0) {
            int256 power = delta * FixedMath0x.FIXED_1 / beta;
            int256 _r = FixedMath0x._exp(power);
            return uint256(_r) * 1e18 / uint256(FixedMath0x.FIXED_1);
        } else if (delta > 0 ) {
            delta = -1 * delta;
            int256 power = delta * FixedMath0x.FIXED_1 / beta;
            int256 _r = FixedMath0x._exp(power);
            return uint256(FixedMath0x.FIXED_1) * 1e18 / uint256(_r);
        } else {
            return 1e18;
        }
    }
```

Price(target):

```solidity
uint256 constant PEG = 1e8;
```

Price(lisUSD):

[Oracle address](https://bscscan.com/address/0xf3afD82A4071f272F403dC176916141f44E6c750#readProxyContract)

```solidity
uint256 price = oracle.peek(address _lisUSD)
```

Beta:

```solidity
DynamicDutyCalculator.ilks(address _collateral).beta

```


# Current vs Expected Borrow Rates

<figure><img src="/files/h9gNJ1cJwLa5rfjRAagq" alt=""><figcaption></figcaption></figure>

## Current Borrow Rates

The current borrow rate is the borrow rate that users will pay their loan on. The current borrow rate will fluctuate and update any time someone borrows or repays lisUSD.

If nobody interacts with the repayment / borrowing contracts for lisUSD, the current borrow rate will refresh and update once every few hours.

### Specifications:

1. Current borrow rates will be rounded to 8 decimal places.
2. Current borrow rates will be updated every 5 minutes.
3. Current borrow rate will change based on the price of lisUSD, and borrow rates that users **pay** will be based on the current borrow rate, **not** the expected borrow rate.
4. When users borrow or repay lisUSD, demand and supply of lisUSD changes, and thus, price of lisUSD changes, which in turn, changes the current borrow rates. However, the current borrowing rates will change only if lisUSD's change in price is more than $0.002. In other words, if the change in lisUSD's price is equal or less than $0.002, current borrow rates will not change.

## Expected Borrow Rate

The expected borrowing rate for lisUSD is updated every 15 minutes based on lisUSD prices. The Expected Borrow Rate shows what your next loan rate **might** be, and it doest not mean it will become the borrow rate.

If this expected borrow rate goes down, users may consider borrowing more lisUSD, which can lower its price. If it goes up, users may consider repaying their loan sooner to help boost lisUSD’s price.

The idea of having an expected borrowing rate is to indirect affect the demand and supply of lisUSD, helping to manage lisUSD's price expectations. This helps to keep lisUSD stable at $1.

### Specifications:

1. Expected borrow rates will be rounded to 8 decimal places.
2. Expected borrow rates will be updated every 15 minutes.
3. Expected borrow rates simply estimates what the future borrowing rates may be, relative to the price of lisUSD. It does not guarantee that the expected borrow rates will become the future current borrowing rates.


# lisUSD's liquidity

Users can borrow lisUSD by depositing collateral assets into CeVault within Lista. This is how lisUSD is entered into circulation and how users gain access to liquidity. Others obtain lisUSD by buying it from brokers or exchanges, or simply by staking lisUSD through LPs on external DEXs. Once generated, bought, or received, lisUSD can be used in the same manner as any other cryptocurrency: it can be sent to others and used as payments for goods and services.

### PancakeSwap Pools <a href="#id-5e21" id="id-5e21"></a>

lisUSD/WBNB v3

0xBe43E64Cd61E0b9207A6beE93e2149317A604326

lisUSD/BTCB v3

0x06E2D4002a693812A6348c91A2bEccf4E926FF2f

lisUSD/ETH v3

0xfdFCdE34d2038EBeDe62e95C65b1492C28c990C9

lisUSD/USDT v3

0x12e79eb21dcc5852f9c6ac1736d977312925da33

lisUSD/USDT StableSwap

0xb1Da7D2C257c5700612BdE35C8d7187dc80d79f1

### Thena Finance <a href="#e00a" id="e00a"></a>

lisUSD-FRAX (stable) Hypervisor

0x887c2cf737c5f2283540367efdd84e91d13c759d

lisUSD-USDT (stable) Hypervisor

0xdf0b9b59e92a2554dedb6f6f4af6918d79dd54c4

lisUSD-frxETH narrow Hypervisor

0x69e8c26050daecf8e3b3334e3f612b70f8d40a4f

lisUSD-frxETH (wide) Hypervisor

0xa4d37759a64df0e2b246945e81b50af7628a275e

lisUSD/BNB (narrow) Hypervisor

0x91fa468d7703c773d4528bd0c50156403bad0252

lisUSD/BNB (wide) Hypervisor

0x9e1101c2fa1e5afc8a06364f4e6bf5f672c30f68

lisUSD-BNB (ICHI)

0xBF121d987F9635ed6D2f7bB957FBbe163bDEA0E0

<br>


# Technical Guide

Please click this link to explore the technical details.

{% content-ref url="/pages/wQfWAUgSh7OsOtRO1g5x" %}
[Collateral Debt Position](/for-developer/collateral-debt-position)
{% endcontent-ref %}


# RWA Markets

Real-World Asset (RWA) marketplace offers tokenized RWA purchases, like short-term U.S. treasuries and collateral loan obligations, with crypto assets. These RWAs offer a predictable interest rate with different risk levels.

### How it works

When a purchase order is placed, Lista will mint RWA tokens of the same value and distribute them to the buyer. These tokens are yield bearing so their value will increase over time. Each Tuesday, Lista will calculate the interest over the past week and factor it into the price of each RWA token. Note that Lista will take a small percentage (5% at the moment) of the interest earned as fees.

These RWA tokens can also be burnt to redeem their value and withdraw liquidity. The underlying instruments - U.S. treasuries, corporate debt collateral, and more - can only be sold during work days so it may take 5 to 14 days before your redemption is completed. Note that Lista will charge a 0.1% fee for redemption.

All RWA token purchases and redemptions are processed through Janus Henderson Anemoy Treasury Fund (the Fund), a tokenized British Virgin Islands (BVI) professional fund powered by Centrifuge. The Fund is licensed by the British Virgin Islands Financial Services Commission (FSC), and open to non-US investors.

### Dowsure RWA Token

#### Product Details

| Parameter              | Details                 |
| ---------------------- | ----------------------- |
| Target APY             | \~10%                   |
| Lock Period            | 90 days                 |
| Minimum Deposit        | $100 USD                |
| Vault Capacity         | $3M (scaling to $15M)   |
| Subscription Window    | Day -7 to Day 0         |
| Historic Bad Debt Rate | < 1.5% (5-year average) |
| Auto-Roll              | Yes (opt-out by Day 83) |

The Dowsure RWA token on Lista is backed by three underlying assets:

1\. Payoneer Advance This represents pre-settlement receivables for Amazon cross-border sellers. Platforms like Amazon typically take 14+ days to settle while Dowsure advances merchants their funds early. Cycles range from 14 to 28 days and the liquidity is typically high.

2\. Dowsure’s Buy-Now-Pay-Later Supplier invoice financing for large-ticket purchases ($500K+). Merchants receive goods upfront while Dowsure bridges the payment gap. Cycles range from 20 to 30 days. Clients are mostly merchants with considerable loan sizes (typically over $500,000).

3\. LOC Credit Lines Dowsure's flagship product with a 5-year track record. This product provides credit lines for established e-commerce merchants (>$10M annual revenue) on Amazon, eBay, and Walmart. Funded by HSBC, Standard Chartered, Hang Lung Bank, CMB, CCB, and multiple funds. Bad debt rate is held below 1.5% over 5 years.

### Security & Risk Controls

* 3PAR Auto-Repayment: 3PAR is a financing platform co-developed by Dowsure with Amazon, Walmart, eBay, and Payoneer. Upon merchant authorization, platform sales proceeds are automatically routed to Dowsure before the seller's normal settlement, ensuring stable repayment at the source.
* DAL Dual-Lock: A patented fund control system that locks merchant payout accounts, verifies the actual business controller, and enables fund freezing or forced deduction in the event of default.
* KYC + AML Compliant: Full Know Your Customer and Anti-Money Laundering processes completed on all borrowers.

Early Exit: You may withdraw 90% of your principal at any time before Day 90 (subject to a yield penalty based on days staked). The remaining 10% is held until Day 90 and released after bad debt audit.

Bad Debt Policy: If the bad debt rate exceeds 4% APY, the excess will be deducted from the yield users receive. The 5-year historical average is below 1.5%.


# Lista Credit

Lista Credit offers unsecured, small-amount credit lending. Currently, Lista Credit Phase 1 has concluded. Lista team will evaluate all data & insights from Phase 1 and plan for Phase 2, when Credit will be open to more addresses in larger amounts.

### Credit System

The entire Lista Credit product is powered by Lista’s proprietary credit system. Under this system, each Binance MPC wallet address will be given a credit level based on their portfolio and on-chain activities. Then, every address will be given a credit limit based on their credit level.

Every month, Lista will reassess all eligible wallet addresses and give them a new credit level. The more assets you have, the more interactions you have with DeFi protocols, the more likely you are to receive a higher credit limit.

### Borrowing & Repaying

Depending on its credit level, a wallet address can get up to a 50 $U ($50) credit limit. Lista does not charge interest for Credit borrowing but the moment a loan is taken, a fixed origination fee (3%) will be charged. Credit loans plus their origination fees must be repaid within 14 days. Overdue loans will get an extension of 3 days. If it is still not fully repaid after the extension, a fixed fine (3%) will be charged and the corresponding wallet address will be blacklisted.

Blacklisted addresses will be restricted on Lista Credit. The only way to lift this restriction is to repay all its loan plus fees in full. When a blacklisted address repays all its loans and fees, it will be released from the blacklist with half its previous credit. Two weeks later, its credit level will be fully reinstated.

Every day, Lista will pick 1 Daily Lucky Star that repaid its Credit loans of at least 15 $U (plus interest) to receive 1,000 $LISTA. Every week, Lista will also pick 1 Weekly Grand Prize that repaid its Credit loans to receive 10,000 $LISTA. Candidates must not have any outstanding Credit loans at the time of our picking and rewards can be claimed within 48 hours after a winner has been selected.

### Lending

Currently, all $U available for borrow on Lista Credit are from a dedicated vault created by Lista and its partners.

Lista will offer credit lending vaults for everyone to lend assets to credit loan borrowers. These vaults give depositors very competitive rates at slightly higher risks. The average return for Lista Credit loans are higher than their collateralized counterparts but the default rates are also likely higher. Please do your own research and employ robust risk mitigation strategies before depositing into these vaults.

<br>


# Binance Launchpool: slisBNBx

slisBNBx 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 slisBNBx 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 slisBNBx 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 slisBNBx Do? <a href="#id-9a96" id="id-9a96"></a>

The primary function of slisBNBx is to allow users to borrow lisUSD against their BNB collateral on ListaDAO, and still be able to participate in Binance launchpool using slisBNBx. Users who hold slisBNBx 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 slisBNBx <a href="#id-8293" id="id-8293"></a>

slisBNBx 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 <a href="#d449" id="d449"></a>

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

### 2. Non-transferable Token <a href="#e763" id="e763"></a>

One important feature of slisBNBx is that it is non-transferable. Once issued, slisBNBx 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 <a href="#f3b4" id="f3b4"></a>

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

### 4. Minting slisBNBx to another Address <a href="#id-7699" id="id-7699"></a>

slisBNBx offers users a unique feature: when depositing BNB into a CDP, they have the option to mint slisBNBx to another address. However, once this address has been chosen and the slisBNBx 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 slisBNBx at the time of deposit.
* If the underlying BNB or slisBNB is withdrawn, any slisBNBx minted to the secondary address is automatically destroyed.
* Being a new product, slisBNBx 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.


# Minting slisBNBx with slisBNB

## How Minting Works <a href="#e2fa" id="e2fa"></a>

The slisBNB to slisBNBx minting function is designed to be straightforward while prioritizing efficiency and fairness.

## Minting Ratio <a href="#id-63a1" id="id-63a1"></a>

When users deposit their slisBNB into the Collateralized Debt Position (CDP) to mint slisBNBx, they will receive **slisBNBx at a ratio of 1:0.9709**. For example, if you deposit 1 slisBNB into the CDP, you will mint 0.9709 slisBNBx.

## Benefits <a href="#cdca" id="cdca"></a>

### 1. Increased Capital efficiency for slisBNB <a href="#id-3474" id="id-3474"></a>

With this update, users who deposit **slisBNB** as collateral on Lista DAO’s CDP can now unlock even greater potential for their assets. Not only can they borrow **lisUSD** against their slisBNB, but they will also remain eligible to participate in **Binance Launchpool rewards** simultaneously.

This dual functionality significantly boosts the rewards and capital efficiency of slisBNB, allowing users to maximise the utility of their holdings while benefiting from both liquidity and additional incentives. By enabling multiple earning opportunities, this feature empowers users to optimize their financial strategies within the Lista DAO ecosystem.

### 2. Simplified User Experience <a href="#id-1a7b" id="id-1a7b"></a>

The process of minting slisBNBx from slisBNB is designed to be seamless and efficient, providing users with a straightforward way to unlock additional liquidity while supporting the ecosystem.


# Mint slisBNBx on Lista Lending

When you deposit slisBNB as collateral into Lista Lending, slisBNBx will now be automatically minted with the following details:

* **Mint Ratio**: 1:0.99813. For example, depositing 1 slisBNB will allow the user to mint 0.99813. slisBNBx.
* **Minting Price**: Determined by the current exchange rate at the time of deposit, ensuring fairness and transparency.

This automation simplifies the process, saving you time while ensuring you can immediately utilize slisBNBx in your DeFi strategies.

## 2. Flexible Target Address for Minting <a href="#id-28da" id="id-28da"></a>

We’ve introduced the ability to modify the target address where your slisBNBx is minted:

* **Default Behavior**: Initially, slisBNBx is minted to your current wallet address.
* **Customization**: You can change the target address at any time. After modification, all subsequently deposited slisBNB will mint slisBNBx to the new address.
* **Single Address Limitation**: Note that slisBNBx can still only be minted to one address at a time and cannot be split across multiple addresses.

## 3. Automatic Burning on Withdrawal <a href="#id-8cfa" id="id-8cfa"></a>

When you withdraw your slisBNB collateral from Lista Lending, the corresponding amount of slisBNBx will be automatically and proportionally burned:

* For example, if you withdraw 1 slisBNB, the equivalent 0.99813 slisBNBx will be burned.
* This ensures the system remains balanced and prevents over-issuance of slisBNBx, maintaining its value and integrity within the ecosystem.

## Benefits for Users <a href="#f3d6" id="f3d6"></a>

This update brings several advantages to Lista Lending users:

* **Capital Efficiency**: Automatically minting slisBNBx from slisBNB collateral in Lista Lending allows you to unlock additional rewards without extra steps through Binance launchpad.
* **Flexibility**: The ability to modify the target address for minting gives you control over where your slisBNBx is sent.

## Conclusion <a href="#id-6902" id="id-6902"></a>

The latest update to Lista Lending introduces a seamless, efficient way to mint slisBNBx from slisBNB collateral, offering users greater flexibility and capital efficiency. With automatic minting, customizable target addresses, and proportional burning on withdrawal, this feature empower


# Minting $slisBNBx with BNB/slisBNB LP Tokens

Users can now mint $slisBNBx by staking BNB/slisBNB LP tokens.

Here’s what this feature enables:

* **Stake BNB/slisBNB LP Tokens**: Provide liquidity for the slisBNB/BNB pair on ThenaFi, and stake your LP tokens on Lista DAO.
* **Mint $**&#x73;lisBNBx: Use your staked LP tokens to mint $slisBNBx.

## **Step-by-Step Guide: How to Mint $**&#x73;lisBNBx

1. **Provide Liquidity on ThenaFi**:

* Visit the ThenaFi LP pool for slisBNB/BNB at [ThenaFi Pool](https://thena.fi/pools/0xa07bbf09b48e8d219774ac9b92622f5260a9c9f4).
* Connect your wallet (e.g., MetaMask or WalletConnect).
* Deposit an equal value of slisBNB and BNB to create your LP tokens.
* Confirm the transaction in your wallet. You’ll now hold slisBNB/BNB LP tokens and start earning farming rewards.

**2. Stake LP Tokens on Lista DAO to Mint $**&#x73;lisBNBx:

* Head to Lista DAO’s platform at[ lista.org](https://lista.org?utm_source=gitbook\&utm_medium=article\&utm_campaign=minting-usdslisbnbx-with-bnb-slisbnb-lp-tokens) and navigate to the “My slisBNB LP” section

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*uQzD8FX2HUhJhfAR" alt="" height="223" width="700"><figcaption></figcaption></figure>

* Click on the “Stake” button under “slisBNB/BNB Stable LP” to stake your LP tokens in the Staked Vault.
* Once staked, you’ll automatically mint $slisBNBx, which will appear under “My $slisBNBx Minted by LP.” You can choose to delegate this $slisBNBx to another wallet address by clicking the “Manage” button.
* As you earn rewards, claim your $THE farm rewards and $LISTA emission rewards by clicking the respective “Claim” buttons, stacking multiple yield streams effortlessly.


# Mint slisBNBx with Smart Lending LP Tokens

Starting now, providing BNB/slisBNB liquidity via Lista Smart Lending will also be eligible for minting slisBNBx.

Currently, some users may experience problems when depositing slisBNB as collateral:

<figure><img src="/files/CNhWQ181jzYCmoeoJun0" alt=""><figcaption></figcaption></figure>

To resolve this issue, click on “Manage slisBNBx” at the bottom or visit [this page](https://lista.org/lending/delegate?utm_source=gitbook\&utm_medium=article\&utm_campaign=mint-slisbnbx-with-smart-lending-lp-tokens):

<figure><img src="/files/PeS0yx6LpEBq3N6sxLg9" alt=""><figcaption></figcaption></figure>

On our slisBNBx delegation page, delegate your slisBNBx to any other wallet that is controlled by you:

<figure><img src="/files/wIyNTvOenKmidCcnkLdM" alt=""><figcaption></figcaption></figure>

Then, head back to the previous page where you wished to deposit slisBNB as collateral and make a deposit/withdrawal of any amount. Now, your slisBNBx will be delegated to your current wallet.


# BNB Validator: Lista DAO

Lista DAO is taking significant steps toward becoming a validator node on the Binance Smart Chain (BSC).

Becoming a BSC validator aligns with Lista DAO’s mission of promoting decentralization, increasing network security, and further integrating into the BSC ecosystem. As a validator, Lista DAO will play a critical role in maintaining the blockchain’s operations while earning rewards that will benefit our community.

## Key Features of Our Application

1. Decentralization Focus: By becoming a validator, Lista DAO strengthens its commitment to decentralization and secure blockchain operations.
2. Community Benefits: Rewards earned as a validator will be reinvested into the DAO, creating additional value for LISTA holders and protocol participants.
3. Carefully Set Parameters: Commission rates and governance processes have been designed to balance user returns and operational sustainability.

## What’s next?

Lista DAO will begin participating as a BSC validator, reinforcing our ecosystem’s presence on the Binance Smart Chain.

This step represents another milestone in Lista DAO’s journey, enhancing our role in the DeFi ecosystem while delivering value to our users.

**Delegate your BNB under Lista DAO** [**here**](https://www.bnbchain.org/en/bnb-staking/validator/0x7766A5EE8294343bF6C8dcf3aA4B6D856606703A)**.**


# lisAster

lisAster is Lista's ASTER staking aggregator that lets any ASTER holder access the best possible staking rewards.

lisAster is received on a 1:1 ratio by depositing ASTER on Lista. lisAster is a standard ERC-20 token - it can be freely transferred and staked. In the future, it can also be used for lending, trading, and other DeFi activities.

Note that lisAster must be staked to start generating rewards. Rewards are accrued hourly based on your proportional share of staked lisAster, and settled each epoch. Rewards from epoch N are claimable from epoch N+1 onwards. When lisAster is unstaked, rewards will also stop accumulating.

In line with Aster Chain’s epoch rules, Lista will batch process all deposited ASTER every week. Your deposit takes effect in the current epoch; staking rewards are claimable from the following epoch (Monday 00:00 UTC → Sunday 00:00 UTC) and are claimable in the next. lisAster’s first reward-generating epoch starts on June 1, 2026.

### Reward Structure

Aster Chain distributes two reward streams every epoch:

| Stream          | Weekly Pool   | Distribution Basis                         |
| --------------- | ------------- | ------------------------------------------ |
| Base APY        | 150,000 ASTER | Pro-rata across all stakers by veASTER     |
| Loyalty Rewards | 300,000 ASTER | Pro-rata by Power (veASTER × Volume Boost) |

By targeting maximum veASTER weight and the highest Volume Boost, lisAster positions depositors to capture a disproportionate share of both pools - particularly the larger Loyalty Rewards stream.

Theoretical maximum power advantage vs. a short-term solo staker:

Lista Power = max veASTER (4x) × max Volume Boost (1.25x) = 5x

Solo Power = min veASTER (1x) × no boost (1.0x) = 1x

Depending on a user's solo staking parameters, the effective power improvement through lisAster can be up to 5x.

### How are my lisAster rewards calculated?&#x20;

Deposited ASTER will be locked for up to 208 weeks and automatically renewed after each Epoch to maintain full veASTER weightage. Rewards are distributed weekly in ASTER, in proportion to the amount of lisAster staked.

* Only staked lisAster earns rewards, depositing alone does not.
* lisAster supplied as collateral in the \[lisAster/Aster] market, or used as smart collateral in the \[lisAster\&Aster/Aster] Smart Lending market, still counts as staked and earns rewards as  per normal.
* The staking cutoff is every Thursday at 08:00 (UTC).&#x20;
* Stake before the cutoff: Rewards will start accruing from the following Monday, with the first claim available on the Thursday after next. Stake after the cutoff: The staked amount will be counted in next week's batch, and your schedule is delayed by one week accordingly.

### DeFi Composability

Use lisAster as collateral in the \[lisAster/Aster] market, or as smart collateral in the \[lisAster\&Aster/Aster] Smart Lending market. It remains in staked status while collateralized, and rewards continue to accrue — the same asset earns rewards and backs your borrowing at the same time.

### Exiting lisAster

Because the underlying ASTER is permanently locked in the Aster staking contract, Lista does not offer a direct redemption mechanism. However, as lisAster can be freely transferred, it should be possible to exchange it into ASTER or even other tokens on the secondary market.


# Roadmap

## 2026 H1 <a href="#h-key-highlights" id="h-key-highlights"></a>

## Introduction <a href="#h-introduction" id="h-introduction"></a>

Lista DAO is proud to present our roadmap for the first half of 2026. Building on top of our milestones in 2025, we will keep building Lista into a comprehensive DeFi ecosystem that bridges traditional finance with blockchain innovation. Lista will release several most in-demand new products as well as perfecting our existing product lineup, representing a significant evolution from a liquid staking platform into a multi faceted financial platform encompassing lending, trading, RWA, and prediction markets.

## Smart Lending and Smart Swap Expansion <a href="#h-smart-lending-and-smart-swap-expansion" id="h-smart-lending-and-smart-swap-expansion"></a>

The most important step Lista has planned for 2026 is the expansion of Smart Lending/Swap. Launched at the end of 2025, these 2 products represent Lista’s commitment to offering more comprehensive DeFi services and ambition to expand into a leading DeFi venue.

This expansion plan includes three key components:

* **Broaden beyond existing markets**: Include more assets like (even more) stablecoins, wrapped assets, and other tokens of correlated value. These tokens represent enormous trading opportunities with minimal price volatility - exactly the type of infrastructure DeFi users need.
* **Integrate DEX aggregators**: Introduce aggregators to tap into significantly larger trading flows from other major DEXs to offer the best liquidity and rate options for our entire community.
* **Expansion to Ethereum mainnet**: Despite higher gas costs, Ethereum mainnet remains the epicenter of DeFi liquidity, boasting [over $70 billion in total value locked](https://defillama.com/chain/ethereum). This multi-chain approach comes with another critical move: include more assets outside the Stableswap model and introduce DEX aggregators into Smart Swap.

With these moves, Lista will offer more options to users across two networks. Smart Lending/Swap will become the go-to option for traders, liquidity providers, and anyone seeking to maximize their crypto assets.

## RWA: Bridging TradFi and DeFi <a href="#h-rwa-bridging-tradfi-and-defi" id="h-rwa-bridging-tradfi-and-defi"></a>

The RWA sector has experienced nothing short of an explosive growth since 2023, with tokenized treasury bills, corporate debt, and other traditional assets reaching over $17 billion in on-chain value. Protocols like Centrifuge, Ondo, and Maple have demonstrated strong demand for yield-generating real-world assets, particularly as DeFi yields have compressed and institutional interest has grown.

By launching our RWA market in December 2025, Lista enters a multi-trillion dollar global market. Through Lista, users will be able to purchase U.S. Treasury bills and collateralized loan obligations without any KYC requirement. In 2026, our plan include:

* **Introduce more quality assets with stable yields**: Bond-backed collateral, corporate bonds, and more.
* **Introduce more utilities for our RWA tokens**: RWA tokens should never be sitting idle in your wallet. They should and will be able to be used as collateral at our RWA Zone for your loans and more.
* **Optimize yield strategies**: With steady off-chain yields, Lista will work out the best combination of on-chain and off-chain products to offer our users the most optimized yield streams.

This will transform off-chain assets into productive on-chain building blocks, addressing one of RWA’s current limitations: not enough options beyond holding tokens and collecting yield from a single source.

## Pioneering On-chain Credit Lending <a href="#h-pioneering-on-chain-credit-lending" id="h-pioneering-on-chain-credit-lending"></a>

One of the most innovative elements of Lista’s 2026 roadmap is the exploration of on-chain credit lending.

Traditional DeFi lending protocols like Aave and Compound require collateralization ratios of at least 125%, effectively limiting credit access to those who already hold substantial crypto assets. Credit lending could democratize DeFi credit access by tapping into a potentially enormous market.

These loans work in a very simple way:

* **No collateral required**: Everything is credit-based. Every good financial decision you make will increase your credit score.
* **Small amount, short-term**: A couple hundred of dollars for an emergency payment? With good credit, you will get it within seconds. Just pay it back within a few days when your paycheck has arrived.
* **High interest**: Credit loans tend to have higher default rate and as a result, interest rates are also higher for suppliers.

The market opportunity is massive: the U.S. alone has [over $1.3 trillion in revolving credit lines](https://www.federalreserve.gov/releases/g19/current/) that crypto can capture through superior capital efficiency and global accessibility.

That said, Lista will tread this path one cautious step at a time, offering small, credit loans to selected addresses based on our proprietary credit evaluation system. Through a comprehensive on-chain behavior analysis, we aim to provide more liquidity options to those with a decent record while trying to offer the best return to liquidity providers.

## Prediction Markets: Engaging Community Through Forecasting <a href="#h-prediction-markets-engaging-community-through-forecasting" id="h-prediction-markets-engaging-community-through-forecasting"></a>

In just over a year, on-chain prediction markets have surged in popularity and grown into a billion-dollar industry, with platforms like [Polymarket processing over $3 billion in trading volume during the 2024 U.S. election cycle](https://www.theblock.co/post/324357/us-presidential-winner-prediction-market-crosses-3-billion-on-polymarket-a-day-before-the-election) alone. As leading prediction protocols like Polymarket and Kalshi raised billion-dollar level investments, so much attention is concentrated on this newly-bloomed industry’s vast potential.

By integrating prediction markets directly into our lending platform, Lista will create novel engagement opportunities including:

* **Voting on the outcomes of certain events**: Instead of making individual predictions, Users will get a chance to cast a collective vote on trending events.
* **Low-risk, stable-yield prediction strategies**: With our partnered prediction markets, Lista will offer our users a chance to earn a steady income from a completely new source.
* **Enhanced yield streams**: For very high-profile events, users will even get a chance to predict their outcomes with a portion of Lista’s income, giving everyone a chance to earn even more yield on their capital.

Prediction markets’ success has demonstrated that well-designed protocols and pools can achieve remarkable accuracy on the outcome of events, often outperforming expert forecasts and traditional polls. By introducing this vertical, Lista will tap into collective wisdom while creating additional platform utility and community engagement vectors.

## Unified Lending Experience <a href="#h-unified-lending-experience" id="h-unified-lending-experience"></a>

Lista launched its lending product in April 2025, to astounding success - $1.99 billion all-time high TVL in a few months, ranking No. 2 in lending protocols on the BNB chain. Lista’s another flagship product, collateral debt position (CDP), allows users to deposit a variety of assets (BTC, ETH, BNB, and more) and borrow Lista’s stablecoin, lisUSD, against them. With an all-time high TVL of almost $1 billion, Lista CDP saw steady growth over the past few years.

Though intuitive and well-managed in their own way, these two products are essentially doing the same thing: decentralized, permissionless C2C lending. As they both grow with Lista, every community member must face a critical pain point: fragmented user experience across multiple interfaces.

In 2026, Lista will integrate these products at the smart contract level, starting with a deep technical unification rather than just UI aggregation. Collateralization, lending/borrowing, liquidation, and management will all be merged to create a seamless, one-stop lending product. When the infrastructure is set, Lista will also initiate a UI overhaul to put lending, CDP, and credit lending into one page.

This approach mirrors what many crypto platforms have been doing when they have expanded from an interface for one simple product to comprehensive financial hubs. Through this integration, Lista will offer a unified lending experience that abstract away complexity while maximizing user options.

## Continuous User Experience Improvements <a href="#h-continuous-user-experience-improvements" id="h-continuous-user-experience-improvements"></a>

Apart from user experience improvements in the lending sector, Lista has planned the same for every product. In an increasingly competitive DeFi landscape, technical capabilities alone don’t guarantee success. Ease of use remains one of DeFi’s most significant barriers to mainstream adoption.

This dedication stems from Lista’s commitment to community engagement. Thriving DeFi protocols have achieved their success partly due to responsive development teams that actively incorporate user feedback. By keeping a close touch with the Lista community, we will dedicate ourselves to building products that users actually want and need.

Lista has always recognized intuitive design and seamless user flows are competitive advantages as important as technical innovation. Through this continuous perfection effort, Lista will consolidate previously separate features into more cohesive workflows, as well as polish our UI design and website structure.

## The Road Ahead <a href="#h-the-road-ahead" id="h-the-road-ahead"></a>

Lista DAO’s roadmap for 2026’s first half is undeniably ambitious, spanning multiple product categories that each present unique technical, regulatory, and market challenges. Lista’s vision of becoming an increasingly comprehensive protocol will create network effects where users will get exposure to a suite of complementary products under one roof.

This roadmap represents a bold bet on the future of integrated DeFi platforms and potentially establishing Lista as a major hub of lending, trading, RWA, and prediction markets with a unified, optimized user experience. Stay tuned to our social media and community channel for our latest updates.

## Building on a Strong Foundation <a href="#id-35e6" id="id-35e6"></a>

In 2024, Lista DAO reached several transformative milestones that solidified its position as a major player on the BNB Chain. The protocol experienced exponential growth in Total Value Locked (TVL), soaring from $110.86 million to $1.1 billion, marking a remarkable 896.92% year-to-date increase. This achievement positioned Lista DAO as the third-largest protocol on the BNB Chain.

Additionally, the launch of the LISTA token on Binance introduced the veLISTA governance model, empowering the community to actively participate in protocol decisions. Security remained a top priority, with the implementation of multi-oracle architecture, TimeLock governance, and continuous audits to safeguard user assets and ensure operational integrity.

## Empowering LISTA Token Holders in 2025 <a href="#id-0427" id="id-0427"></a>

Lista DAO is beginning 2025 by focusing on empowering LISTA token holders through the veLISTA governance framework. This system will grant holders significant privileges, including lisUSD borrowing interest discounts, delayed liquidation, and other exclusive benefits.

A tiered reward system will incentivize deeper veLISTA commitments, offering higher emission boosts for token holders. Additionally, the introduction of open-market token redemption will help stabilize LISTA’s value and foster long-term growth by creating a sustainable and balanced token economy.

## Advancing the Three Core Pillars <a href="#cde6" id="cde6"></a>

Lista DAO will continue prioritizing the development of its three key pillars throughout 2025, building on their solid foundations:

### Lista 1.0: lisUSD Expansion <a href="#d836" id="d836"></a>

The protocol will drive lisUSD adoption across multiple chains, targeting ecosystems lacking reliable stablecoin options. To further attract users and liquidity, Lista DAO plans to introduce new lisUSD products, such as fixed borrowing rates and limited free borrowing periods, boosting both user engagement and protocol revenue.

### Lista 2.0: Liquid Staking Enhancements <a href="#id-4efd" id="id-4efd"></a>

Enhancements to slisBNB will focus on optimizing node operations, decentralizing further with the creation of smaller, scalable nodes, and strengthening governance. These improvements will improve performance and accessibility, ensuring a robust and sustainable staking experience for users.

### Lista 3.0: Expanding the BNBFi Ecosystem <a href="#eda7" id="eda7"></a>

The BNBFi ecosystem (slisBNBx) is set to experience significant growth in 2025 as Lista DAO expands its cross-chain integrations. By partnering with protocols such as StakeStone and Solv, Lista DAO will onboard staked assets from other blockchains, including Ethereum, into BNB. This initiative will unlock opportunities for users to participate in programs like Launchpool, Megadrop, and Hodler Airdrop, offering competitive yields exceeding 30% APR.

To further enhance the ecosystem, Lista DAO will introduce cross-chain vault products designed to capture incentives and airdrops across multiple networks. Additionally, a referral system will be launched to engage influencers and KOLs, driving user growth and accelerating adoption.

As part of its strategy to lead the DeFi space, Lista DAO will focus on integrating more DeFi primitives into its ecosystem. These “Lego blocks” will feature expanded collateral options, advanced liquid staking solutions, and innovative liquidity mechanisms. By building a modular and interoperable ecosystem, Lista DAO seeks to provide users with greater flexibility while unlocking new opportunities for capital efficiency and optimization.

## 2025 H1 [Summary](https://medium.com/listadao/lista-dao-h1-2025-update-pioneering-bnbfi-9d4c70d779c0)

### **1. Major Milestone**:

Launched Lista Lending, a decentralized P2P lending protocol, with upgrades like slisBNBx minting, a Vault Manager GUI, Alpha Zone, and Liquidation Zone.

### **2. Ecosystem Expansion**

Collaborated with USD1 to integrate stablecoin use cases into Lista DAO’s DeFi protocols, enhancing liquidity and utility.

### **3. Strategic Integration**

Partnered with strategic partners such as World Liberty Finance, Pendle Finance, etc to enhance yield opportunities.

### **4. Innovative Utility**

Introduced lisUSD borrow rebates for veLISTA holders, reducing borrowing costs and boosting capital efficiency.

## 2025 H2 [Roadmap](https://medium.com/listadao/lista-dao-2025-h2-roadmap-fc63d701f059)

### **1. USD1 Hub Leadership**

Build Lista into the largest on-chain hub for USD1, with more than $70M currently in Lista Lending, targeting an increase in TVL to over 100M and a competitive Supply APY through expanded integrations and yield optimization.

### **2. Lista CDP for PancakeSwap**

Launch in Q3 to enable PancakeSwap LP positions as collateral for lisUSD minting, boosting capital efficiency.

### **3. RWA Yield-Bearing Stablecoin**

Introduce a USD1-based stablecoin backed by U.S. Treasuries and corporate bonds in Early Q3.

### **4. lisUSD Growth**

Increase lisUSD minting volume from 63.2M to 80M (26.6% growth) by year-end through our Yield-bearing stablecoin and LP minting products.

### **5. Fluid-like DEX**

Launch a lending and AMM-integrated DEX in Q4 to convert Lista Lending collaterals into LP positions.

### **6. Fixed-Rate Lending Expansion**

Expand Lista CDP to offer fixed-rate and fixed-term lending products, with timeline to be confirmed.


# FAQ

### What is Lista DAO? <a href="#what-is-lista" id="what-is-lista"></a>

Lista DAO functions as the open-source decentralized stablecoin lending protocol powered by LSDfi. Users can perform staking and liquid staking on Lista DAO, as well as borrow lisUSD against a variety of decentralized collateral. Present on the BNB Chain and Ethereum, Lista DAO aims to position lisUSD as the number one stablecoin in the crypto space, leveraging on innovative liquid staking solutions.

### Is Lista DAO audited? <a href="#is-lista-audited" id="is-lista-audited"></a>

Yes, Lista DAO is audited multiple times by some of the best Web3 security auditors in the space such as Peckshield, Veridise, Slowmist, Blocksec and Supremacy. You can find the audit reports [here](https://docs.bsc.lista.org/security).

### What is lisUSD? <a href="#what-is-lisusd" id="what-is-lisusd"></a>

lisUSD is Lista DAO’s decentralized stablecoin pegged to the USD, and is fully over-collateralized by crypto assets such as BNB, ETH, slisBNB and wBETH. In phase 1, lisUSD leverages on the MakerDAO models on BNB Chain for a decentralized and unbiased stablecoin product.

### What is slisBNB <a href="#what-is-slisbnb" id="what-is-slisbnb"></a>

slisBNB is the native yield bearing and liquid staking token for BNB, built by Lista DAO. slisBNB appreciates against BNB in line with BNB’s staking APR, allowing users have the freedom to earn additional yields on different DeFi platforms while earning staking rewards passively.

### What is collateral? <a href="#what-is-collateral" id="what-is-collateral"></a>

Collateral is any asset which a borrower must provide to take out a loan, acting as a security for the debt.

### Why can't I withdraw my assets from a lending vault? <a href="#why-cant-i-withdraw-my-assets-from-a-vault" id="why-cant-i-withdraw-my-assets-from-a-vault"></a>

This is most likely due to its high utilization rate. Assets deposited into a vault will be allocated across several markets as loan assets for borrowers. This is the primary source of revenue for most vaults. The ratio between borrowed out assets and total assets in a vault is utilization rate.

Naturally, when a vault's utilization rate is high, it means most assets have been borrowed out and there isn't much liquidity left in the vault. If a withdrawal is initiated and the amount requested is more than what's left in the vault, it will be rejected due to a lack of liquidity. This can be common when a vault is paired with a market whose collateral and loan assets have very different levels of popularity.

There is no need to worry because in time, more deposits will come and borrowers will repay their loans, and, as a result, there will be more liquidity in the vault. Even if someone forgets to repay, their loan will likely be liquidated when the accruing interest pushes its LTV past the LLTV ratio. The liquidated assets will be returned to the vault and there will be more liquidity available.

If a vault's utilization rate is not high (below 90%) but you still encounter an error during withdrawals, please contact our support at our [Telegram](https://t.me/ListaDAO) or [Discord](https://discord.gg/listadao) community.

### Will my position be liquidated on Lista DAO? <a href="#will-my-position-be-liquidated-on-lista" id="will-my-position-be-liquidated-on-lista"></a>

Yes, liquidations are a common concept in lending protocols like Lista DAO, and thus, users need to be aware that their loan positions are at risk of being liquidated if they no longer have sufficient collateral to maintain the MCR of the loan.

For example, if you are a borrower, and the value of your collateral drops below the MCR of 150%, liquidation will occur. You will still keep your borrowed lisUSD, but your borrowed position will be closed and your collateral will be used to compensate liquidators.

Please read our [liquidation documentation](/introduction/lista-lending/liquidation) for more information.

### How can users earn on lisUSD? <a href="#how-can-users-earn-on-lisusd" id="how-can-users-earn-on-lisusd"></a>

Users can earn with lisUSD in a variety of ways. They can stake their lisUSD on ListaDAO, which accrues lisUSD rewards. They can provide liquidity for slisBNB and lisUSD in various liquidity pools such as PancakeSwap, Wombat Exchange, ThenaFi, Curve and Uniswap to further earn trading and LP fees.

Please note that while we strive to maintain price stability, lisUSD may not always be perfectly pegged to the USD, and it can deviate slightly in both directions under stressful market conditions.

### Are users at risk of losing their funds? <a href="#are-users-at-risk-of-losing-their-funds" id="are-users-at-risk-of-losing-their-funds"></a>

As a non-custodial system, all the tokens sent to the protocol will be held and managed by smart contracts without the interference of any person or legal entity. That means your funds will only be subject to the rules set forth in the smart contract code.

Although Lista DAO has rigorously designed our platform and audited our code, there may be additional unforeseen risks, and thus not all risks can be fully excluded.any DeFi protocol and investment carries risk. Lista DAO has made our code and audit reports available online, and users are welcome to assess the risk themselves.

Lista DAO is currently in the initial development stages and there are a variety of unforeseeable risks. You acknowledge and agree that there are numerous risks associated with acquiring LISTA, holding LISTA, and using LISTA for participation in Lista DAO. In the worst scenario, this could lead to the loss of all or part of LISTA held. IF YOU DECIDE TO ACQUIRE LISTA OR PARTICIPATE IN LISTA DAO, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:

■ Uncertain Regulations and Enforcement Actions: The regulatory status of Lista DAO, LISTA and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including LISTA and/or Lista DAO. Regulatory actions could negatively impact LISTA and/or Lista DAO in various ways. Lista DAO or any of its affiliates may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. After consulting with a wide range of legal advisors to mitigate the legal risks as much as possible, Lista DAO have worked with the specialist blockchain department at GS Legal LLC and obtained a legal opinion on the token distribution, and will be conducting business in accordance with the prevailing market practice.

■ Inadequate disclosure of information: As at the date hereof, Lista DAO is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this material contains the most current information relating to Lista DAO, it is not absolutely complete and may still be adjusted and updated by the Lista DAO from time to time. The Lista DAO has neither the ability nor obligation to keep holders of LISTA informed of every detail (including development progress and expected milestones) regarding the project to develop Lista DAO, hence insufficient information disclosure is inevitable and reasonable.

■ Failure to develop: There is the risk that the development of Lista DAO will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or LISTA, unforeseen technical difficulties, and shortage of development funds for activities.

■ Security weaknesses: Hackers or other malicious groups or organisations may attempt to interfere with LISTA and/or Lista DAO in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of Lista DAO or its affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of LISTA and/or Lista DAO, which could negatively affect LISTA and/or Lista DAO. Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to LISTA and/or Lista DAO by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.

■ Risk of Dissolution: Early-stage projects such as Lista DAO involve a high degree of risk. Financial and operating risks confronting start-up companies are significant, and the aforementioned entities are not immune to these. Start-up companies often experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of cryptographic and fiat currencies, decrease in the utility of LISTA due to negative adoption of Lista DAO, the failure of commercial relationships, or intellectual property ownership related challenges, Lista DAO may no longer be viable to operate and Lista DAO may be dissolved.

■ Other risks: In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in Lista DAO, as well as acquisition of, holding and use of LISTA, including those that Lista DAO cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on Lista DAO, its affiliates, as well as understand the overall framework, mission and vision for Lista DAO prior to participating in the same and/or acquiring LISTA.

■ **Uncertain Regulations and Enforcement Actions:** The regulatory status of Lista DAO, LISTA and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of digital assets has become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including LISTA and/or Lista DAO. Regulatory actions could negatively impact LISTA and/or Lista DAO in various ways. The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. After consulting with a wide range of legal advisors to mitigate the legal risks as much as possible, the Company and Distributor have worked with the specialist blockchain department at GS Legal LLC and obtained a legal opinion on the token distribution, and will be conducting business in accordance with the prevailing market practice.

■ **Inadequate disclosure of information**: As at the date hereof, Lista DAO is still under development and its design concepts, consensus mechanisms, algorithms, codes, and other technical details and parameters may be constantly and frequently updated and changed. Although this material contains the most current information relating to Lista DAO, it is not absolutely complete and may still be adjusted and updated by the Lista team from time to time. The Lista team has neither the ability nor obligation to keep holders of LISTA informed of every detail (including development progress and expected milestones) regarding the project to develop Lista DAO, hence insufficient information disclosure is inevitable and reasonable.

■ **Failure to develop**: There is the risk that the development of Lista DAO will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any digital asset, virtual currency or LISTA, unforeseen technical difficulties, and shortage of development funds for activities.

■ **Security weaknesses:** Hackers or other malicious groups or organisations may attempt to interfere with LISTA and/or Lista DAO in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of LISTA and/or Lista DAO, which could negatively affect LISTA and/or Lista DAO. Further, the future of cryptography and security innovations are highly unpredictable and advances in cryptography, or technical advances (including without limitation development of quantum computing), could present unknown risks to LISTA and/or Lista DAO by rendering ineffective the cryptographic consensus mechanism that underpins that blockchain protocol.

■ **Risk of Dissolution**: Start-up companies such as the Company, the Distributor or their affiliates involve a high degree of risk. Financial and operating risks confronting start-up companies are significant, and the aforementioned entities are not immune to these. Start-up companies often experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of cryptographic and fiat currencies, decrease in the utility of LISTA due to negative adoption of Lista DAO, the failure of commercial relationships, or intellectual property ownership related challenges, Lista DAO may no longer be viable to operate and the Company, the Distributor or their affiliates may be dissolved.

■ **Other risks:** In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in Lista DAO, as well as acquisition of, holding and use of LISTA, including those that the Company or the Distributor cannot anticipate. Such risks may further materialise as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Company, the Distributor, their respective affiliates, and the Lista team, as well as understand the overall framework, mission and vision for Lista DAO prior to participating in the same and/or acquiring LISTA.


# LISTA

LISTA is the governance token for Lista DAO. It allows users to participate in protocol governance, such as raising proposals and voting on them on Lista DAO’s [Snapshot platform](https://snapshot.org/#/listavote.eth).

Similar to lisUSD, LISTA token is a medium of exchange in its own right, which can be swapped or put in a farming pool on a DEX at the user’s discretion, e.g. to maximise their capital efficiency, obtain borrowings, and/or compound their yield.

Following [LIP-021](https://snapshot.org/#/s:listavote.eth/proposal/0xdb92580e04ca8d688404a689a99579294715bd9ab858cc9b7ba637599720a6ff), 200 million LISTA were permanently locked and the total supply of LISTA has been reduced from 1 billion to 800 million. Check us out on CoinMarketCap [here](https://coinmarketcap.com/currencies/lista-dao/).

With the approval of [LIP-024](https://snapshot.org/#/s:listavote.eth/proposal/0x1a15347f6b452049212bdf51ff1a46c0a7edf7ca8efe1004b32c15c2965f0f3b), a new tokenomics was implemented. This upgrade include:

* Sunset veLISTA staking model. All staked LISTA can be unlocked without penalty at [this page](https://lista.org/lock).
* Protocol revenue previously distributed to veLISTA stakers will now fund $LISTA buybacks, continuing our effort in turning LISTA into a deflationary token.
* Emissions previously allocated to veLISTA stakers will continue to support the protocol in the form of funding user rewards, growth initiatives, and ecosystem campaigns.
* From now on, all LISTA holders can vote on LIP proposals. The LP pool voting system is wound down as part of this transition.

In the future, more benefits will be introduced to LISTA holders. The first on the list is delayed liquidation. Stay tuned for more details.


# LISTA distribution

Following [LIP-021](https://snapshot.org/#/s:listavote.eth/proposal/0xdb92580e04ca8d688404a689a99579294715bd9ab858cc9b7ba637599720a6ff), 200 million LISTA were permanently locked and the total supply of LISTA has been reduced from 1 billion to 800 million. The distributions of all LISTA tokens at launch and after this proposal are:

| Allocation             | Percentage at Launch | Percentage Post LIP-021 |
| ---------------------- | -------------------- | ----------------------- |
| Permanently Locked     | 0.00%                | 20.00%                  |
| Binance Megadrop       | 10.00%               | 10.00%                  |
| Airdrop                | 10.00%               | 10.00%                  |
| Investors & Advisors   | 19.00%               | 17.00%                  |
| Team                   | 3.50%                | 2.50%                   |
| Community              | 40.00%               | 26.00%                  |
| Reserve (DAO Treasury) | 8.00%                | 5.00%                   |
| Ecosystem              | 9.50%                | 9.50%                   |

### Binance Megadrop

The entirety of the token supply allocated towards Binance Megadrop, will be unlocked on launch.

### Airdrop

At Launch, 85% of the tokens allocated to the Lista DAO’s airdrop, equating to 8.5% of the total token supply, will be unlocked.

The remaining 15%, which is 1.5% of LISTA’s total token supply, will be unlocked by Q2 2025.

### Investors & advisors

1% of the total token supply allocated towards investors & advisors will be unlocked on launch.

The remaining 18% will be locked for a one-year cliff until June 2025. From June 2025 onwards, this portion will be vested and unlocked linearly every quarter over the next two years until March 2027.

### Team

100% of the token supply allocated to the Lista DAO team (3.50%) will be locked for a 1 year cliff until June 2025, with the first unlock happening in June 2025.

From June 2025 onwards, the 3.50% token supply allocated towards the Lista DAO team will be vested and unlocked linearly every quarter (3 months) over the next 5 years until March 2029.

### Community

Upon launch, the token supply allocated towards community incentives will be channeled towards token emissions to incentivise various DeFi activities on Lista DAO such as LPs rewards, lisUSD single staking pool, etc.

LISTA Token emissions towards these community incentives will kickstart in July, and the emissions will continue to be released at a decreasing rate of 1/√2 each year, for the next 20 years until June 2044.

The token emission for community incentives will follow the formula: ![](/files/PW7qA5qOkRbKYdq8qt4T)

**n**: When n = 1 , it represents the token emissions for the first year. In the final year, n=20

**r**: r is the common ratio of the geometric series: 1/√2

**S**: S is the sum of the geometric series: which is 40% of the token emissions, equating to 400 million LISTA

As Lista DAO is still in its transition phase, the current emission rate is set at **540,000 LISTA** per week, which is lower than the expected emission rate of 9,772,651 LISTA per month.

#### Lista DAO Transition Phase

During Lista DAO’s transition towards a fully decentralized Autonomous Organisation (DAO), the originally planned emissions for Lista DAO, which is 9,772,651 LISTA tokens/month in the first year, will be split into 2 equal portions of 4,886,325.5 LISTA tokens each.

First Half: The first half of the LISTA token emissions (4,886,325.5 LISTA/month in the first year) will be dynamically adjusted each month based on current needs. Prior to the emission of this portion, the community will be duly notified.

Second Half: The second half of the Lista token emissions (4,886,325.5 LISTA/month in the first year) will be channeled towards community incentives but not emitted immediately. The emission amount will gradually increase based on the progress of Lista’s platform deployment. The increase in emissions will be capped at 1,221,581 LISTA/week, or in other words, 4,886,325.5 LISTA/month in the long run.

As of now, the emission rate of LISTA is currently set at **540,00 LISTA/week**. All remaining unissued LISTA tokens will continue to be allocated to community incentives, with future decisions on emission rates determined through DAO voting. As we complete our transition to a DAO, the power to adjust LISTA’s current emission parameters will also progressively shift to veLISTA holders.

### DAO treasury

100% of the token supply allocated towards Lista DAO’s treasury (8.00%) will be locked for a 3 month cliff until September 2024, with the first unlock happening in September 2024.

From September 2024 onwards, the 8.00% token supply allocated towards Lista DAO’s treasury will be vested and unlocked linearly every quarter (3 months) over the next 4 years until June 2028.

### Ecosystem

3.50% of the total token supply allocated towards ecosystem incentives will be unlocked on launch.

The remaining 6% of the token supply allocated towards ecosystem incentives will be unlocked every quarter (3 months) for the next 5 years until June 2029 according to the table below:

<table data-header-hidden><thead><tr><th></th><th width="262"></th><th></th></tr></thead><tbody><tr><td>Date</td><td>LISTA unlocks / quarter</td><td>Unlocked supply allocated towards ecosystem incentive</td></tr><tr><td>June 2024</td><td>35,000,000</td><td>35,000,000 (3.50%)</td></tr><tr><td>July 2024 - March 2025</td><td>3,125,000</td><td>44,375,000 (4.4375%)</td></tr><tr><td>June 2025 - June 2028</td><td>3,750,000</td><td>93,125,000 (9.3125%)</td></tr><tr><td>Sept 2028 - March 2029</td><td>625,000</td><td>95,000,000 (9.50%)</td></tr></tbody></table>


# LISTA Holder Benefits

Following the approval of [LIP-024](https://snapshot.org/#/s:listavote.eth/proposal/0x1a15347f6b452049212bdf51ff1a46c0a7edf7ca8efe1004b32c15c2965f0f3b), Lista has launched several benefits for LISTA holders.

The first is Liquidation Protection, a mechanism that gives LISTA holders 24 more hours before their position gets liquidated. Refer to our [liquidation page](https://docs.bsc.lista.org/introduction/lista-lending/liquidation#delayed-liquidation) for more information.

The second is LISTA Holder Boost, an emission program that gives extra emissions to LISTA holders who deposit and/or borrow in selected vaults and/or markets.

This emission works in a tiered system:

| Tier | 7-Day Average LISTA Balance | Deposit and Borrow Cap (Calculated Separately) | Tier Weight |
| ---- | --------------------------- | ---------------------------------------------- | ----------- |
| 1    | ≥ 10,000                    | $500                                           | 1.0         |
| 2    | ≥ 50,000                    | $1,500                                         | 1.2         |
| 3    | ≥ 200,000                   | $3,000                                         | 1.5         |
| 4    | ≥ 1,000,000                 | $4,000                                         | 2.0         |
| 5    | ≥ 5,000,000                 | $5,000                                         | 2.5         |
| 6    | ≥ 15,000,000                | $5,000                                         | 3.0         |

Each week, Lista will select several vaults and markets and allocate a certain amount of LISTA emission for each of them. Everyday, a snapshot will be taken for each eligible vault/market to calculate the exact amount of LISTA emission for each address, which will be determined by its share in each vault/market’s total eligible deposits and/or borrows.

An address’s share in each vault/market’s emission is calculated by multiplying its deposits/borrow and tier weight.

An example:

Vaults A and B are both allocated LISTA emissions of 40,000 and 60,000, respectively. If an address has a 7-day average LISTA balance of 60,000 and deposited $1,000 to both vaults respectively. Then:

As a tier 2 holder, its vault deposit cap is $1,500 and weight in each vault is 1.2.

The total eligible deposit is $2,000, exceeding the cap. When this happens, the amount eligible for emission will be calculated as:

1500/2000 \* 1000 = 750 for both vaults

Multiply this number by its weight, and its share in both vaults will both be 750 \* 1.2 = $900.

If vault A has a total eligible deposit of $90,000 while B has $180,000, then the total amount of LISTA emission this address will get is:

900/90000 \* 40000 + 900/180000 \* 60000 = 700

<br>


# Governance

## Scope

Voting empowers the Lista DAO community, allowing members to influence and shape the future development of Lista DAO. As Lista DAO matures, more power will be gradually transferred to the DAO. Our ultimate goal is to fully transition into a DAO where governance holds absolute power.

Explore Lista DAO’s native voting portal on Snapshot [here](https://snapshot.org/#/listavote.eth).

LISTA holders possess voting rights within Lista’s governance system. As Lista DAO matures, more topics will be added into the scope for governance. The following topics currently falls within the scope of governance:

1. Modifying fees rate: withdrawal fees, early Unlock fees for LISTA
2. Adding of a new collateral
3. Increase and decrease Collateral Rate and collateral debt cap
4. Protocol fee sharing for LISTA holder
5. Voting on the share of LISTA Emission on Liquidity Pool

*Note\* Collateral options from the Lista Innovation Zone can be removed without requiring a governance vote. This allows us to swiftly and efficiently remove any collateral deemed risky, ensuring the process remains smooth and protects the platform from potential vulnerabilities.*

*Note\** T*o ensure the stability and responsiveness of our platform, The core team reserves the right to adjust the borrow rate flexibly in response to significant market fluctuations. This approach allows us to adapt to rapidly changing market conditions without requiring a snapshot proposal. Users can rest assured that any adjustments will be made with careful consideration to maintain balance and align with market realities.*

All governance proposals must be voted on by LISTA holders, while only the Lista DAO Core team can submit proposals. The results of proposals will be implemented by the Lista DAO team.

Community proposals, posted by the Lista DAO community, are used to propose ideas and express the community’s point of view. The Lista DAO team will incorporate well-supported ideas or designs into Core proposals. Additionally, community members can provide feedback and make suggestions on our Forum, contributing to the ongoing development of the protocol.

## Voting Threshold

Governance of Lista DAO operates under specific rules & conditions:

1. Voting Eligibility: Users with any amount of LISTA are entitled to vote on proposals. Their voting power is directly proportional to the amount of LISTA they hold relative to other LISTA holders.
2. Proposal Submission: Only core team members can submit proposals for voting.
3. Voting period: Each proposal’s voting period will last for a period of 3 days, before the final results are tallied
4. Proposal Approval: A proposal is considered approved when it receives support from over 50% of the LISTA tokens cast in the vote.
5. Implementation: Once a proposal is passed, it will be implemented within 1 to 2 weeks. If there are delays due to special circumstances, the Lista core team will provide an explanation.

## Veto

The Lista DAO Core Team has always prioritized the best interests of Lista DAO. That said, the team retains veto rights and can take corrective actions to ensure the security and proper functioning of the protocol without a Snapshot poll. In any veto action, the Lista Core Team will provide a detailed explanation to the community.

Possible actions include, but are not limited to:

* Pausing relevant smart contracts to fix a critical bug in the protocol
* Rejecting a successfully added gauge if the token(s) in question are deemed unsafe, malicious, and/or detrimental to the Lista’s ecosystem


# Governance proposal template

This is a template for submitting proposals to Lista DAO governance for external parties.

## Proposal Structure

### Title:

\[A concise and descriptive title for the proposal]

### Date:

\[The date the proposal is being made, in the DD-MM-YYYY format]

### References:

\[Name of the external party’s Project]

\[External Project’s Whitepaper]

\[External Project’s Documentation]

\[Source code for the system(s) that interact with the proposed asset]

\[External Project’s Smart contract addresses]

\[List of Oracle data sources]

\[Audits both procedural and smart contract-focused]

\[Communities - social media links]

## Body Paragraphs:

### Summary:

A brief summary of the proposal; no more than 2-3 sentences

### Abstract:

Introduce and expand on the proposal. Touch on two main topics:

1. key points on how the proposal will improve Lista DAO’s platform & protocol performance.
2. What and how will the overall implementation process look like.

### Motivation:

What problems will this proposal address/solve? What’s the value-add? This section can have sub-sections for improved readability.

### Specification:

Provide a comprehensive description of the proposed change, including any relevant parameters or risk considerations. Comments on proposals should focus on technical aspects and specify any changes to be made. This section can include sub-sections for improved readability.

### Benefits (Pros):

List the benefits of implementing the proposal and how it will advance the protocol.

### Downside (Cons):

Identify any potential downsides to implementing the proposal.

### Voting:

Define what a “yes” and “no” vote entails.

#### Additional questions for collateral onboarding

1. Explain the positioning of the asset in the Lista DAO ecosystem. Why would it be a good collateral asset?
2. Provide a brief history of the project and the different components: DAO (is it live?), products (are they live?). How did it overcome some of the challenges it faced?
3. How is the asset currently used?
4. Token (& Protocol) permissions (minting) and upgradability. Is there a multisig? What can it do? Who are the signers?
5. Market data (Market Cap, 24h Volume, Volatility, Exchanges, Maturity)
6. Social channels data (Size of communities, activity on Github)
7. Contracts date of deployments, number of transactions, number of holders for tokens
8. List any possible oracle data sources for the proposed Collateral type.
9. (Optional) List any parties interested in taking part in liquidations for the proposed Collateral type.


# Permanent locking of LISTA (LIP-016)

Overview of the Change

Lista DAO has successfully passed [LIP-016](https://snapshot.box/#/s:listavote.eth/proposal/0x8de005cbdcdc084942bfbff5a39577d1f88403dcea1e650d71b6a5a358c41888) to introduce a permanent token lock mechanism, enhancing the deflationary characteristics of LISTA. This update replaces the previous redistribution model by permanently locking LISTA tokens in a new and irretrievable contract address, effectively removing them from circulation.

This strategic shift aims to:

* Reduce the circulating supply of LISTA over time.
* Enhance long-term value appreciation.
* Align with ecosystem sustainability by implementing a continuous deflationary model.

#### Mechanism

* 40% of weekly revenue will continue to be used for purchasing LISTA from the open market.
* Instead of being locked in veLISTA, the tokens will be sent to a permanent freeze address.
* The LISTA tokens in this address cannot be withdrawn, transferred, or utilized in any way.

### Freeze Address Details

The new freeze contract ensures that all LISTA tokens sent to it are permanently removed from circulation, reinforcing the protocol’s deflationary model.

Freeze Address: 0x000000000000000000000000000000000000dEaD

View on BSCScan: <https://bscscan.com/address/0xE4153Eb04417bE05b8d6B2222E4Cdd8AE674ee76>

<br>


# LISTA Deflationary Initiative: 20% Token Burn (LIP-021)

With the successful implementation of [LIP-021](https://snapshot.box/#/s:listavote.eth/proposal/0xdb92580e04ca8d688404a689a99579294715bd9ab858cc9b7ba637599720a6ff), Lista DAO has permanently burned 200 million LISTA tokens, representing 20% of the maximum supply.

This strategic move has reduced the total maximum supply from 1 billion to 800 million LISTA, delivering an immediate deflationary impact to enhance the protocol's long-term value and sustainability.

### LISTA Token Burn

* **Burn Amount**: 200 million LISTA (20% of the original maximum supply).
* **New Maximum Supply**: 800 million LISTA.
* **Execution Method**: Tokens were permanently removed from circulation by transferring them to the Black Hole Address, ensuring they can never be recovered or used.

### **Transaction details**

* Black Hole Address: <https://bscscan.com/token/0xfceb31a79f71ac9cbdcf853519c1b12d379edc46?a=0x000000000000000000000000000000000000dead>

> *Note\* As of now, Total Freezed LISTA is \~204.41M LISTA, composed of a one-time burn (LIP 021, 200M) permanently removed to reduce supply and increase scarcity, plus previously accumulated protocol freezes (4.41M) based on* [*LIP 016*](/governance/lista/permanent-locking-of-lista-lip-016)*. This represents a strategic step to strengthen the token's long-term value and support the DAO ecosystem.*

### Tokenomics After 20% LISTA Burn

<figure><img src="/files/Kj8Lygttkrdtfng09eIH" alt=""><figcaption></figcaption></figure>


# Revenue / Cost

Lista DAO’s primary revenue includes (but not limited to) the following:

1. lisUSD borrowing fees
2. ETH withdrawal fees
3. LST rewards and operation Commission fees

<table data-header-hidden><thead><tr><th width="113"></th><th width="144"></th><th width="252"></th><th></th></tr></thead><tbody><tr><td>Asset</td><td>Item</td><td>Description</td><td>Status</td></tr><tr><td>LISTA</td><td>Early Unlock Fee</td><td>Users pay a premium in order to claim their locked LISTA before the locking period ends.</td><td>Live</td></tr><tr><td>lisUSD</td><td>Liquidation Fee</td><td>During liquidation, the collateral is sold off to repay the debt, and a liquidation fee is charged. you can refer to the loan liquidation process <a href="https://docs.bsc.lista.org/v/eglish-new/introduction/collateral-debt-position/collateral/loan-liquidation">here</a>.</td><td>Live</td></tr><tr><td>lisUSD</td><td>Minting Fee</td><td><p>When users borrow lisUSD, a one-time borrow fee will be charged.</p><p><br></p><p>Example:<br>If users borrow 101 lisUSD, users will receive 100lisUSD, the borrowing fee is calculated based on 101 lisUSD</p></td><td>Coming soon</td></tr><tr><td>lisUSD</td><td>Borrowing Fee</td><td>When users borrow lisUSD, they incur borrowing fees in the form of interest rates. The longer they hold the borrowed amount, the more interest they accumulate over time.</td><td>Live</td></tr><tr><td>ETH</td><td>Withdrawal Fees</td><td>If users wish to withdraw ETH immediately without waiting 7-8 days, they must pay a withdrawal fee.</td><td>ETH: Live</td></tr><tr><td>slisBNB</td><td>Liquid staking rewards and operation Commission fees</td><td>Lista DAO earns a share of liquid staking rewards that comes from slisBNB. Lista DAO also charges a small operation commission fee when slisBNB is minted</td><td>Live</td></tr></tbody></table>

### Lista DAO’s General Operational Cost

Lista DAO’s operational costs includes (but may not be limited) to the following:

1. lisUSD single staking pool
2. Risk buffer fund
3. Operational cost

<table data-header-hidden><thead><tr><th width="126"></th><th width="149"></th><th width="402"></th><th></th></tr></thead><tbody><tr><td>Asset</td><td>Item</td><td>Description</td><td>Status</td></tr><tr><td>lisUSD</td><td>lisUSD Single staking pool</td><td><p>Users who stake lisUSD in this pool will earn lisUSD rewards.</p><p><br></p><p>By the end of August 2024, LISTA token emissions will be used instead of lisUSD to incentivize this pool instead.</p><p><br></p></td><td>Live</td></tr><tr><td>lisUSD</td><td>Risk Buffer Fund</td><td><p>A risk buffer for lisUSD is set aside, which serves to cover any potential shortfalls that may happen during black swan events.</p><p><br></p></td><td>Live</td></tr><tr><td>Lista DAO</td><td>Operational cost</td><td>A portion of Lista DAO’s revenue will be set aside for operational costs, which will be calculated manually.</td><td>Live</td></tr></tbody></table>


# Analytics

## Dune Dashboard <a href="#dune-dashboard" id="dune-dashboard"></a>

[<img src="https://dune.com/assets/glyph-1024w.png" alt="Logo" data-size="line">ListaDAODuneAnalytics](https://dune.com/lista/listadao)

## Smart Contracts <a href="#contracts" id="contracts"></a>

|                                | Link                                                                     |
| ------------------------------ | ------------------------------------------------------------------------ |
| Lista Contract Address         | <https://bscscan.com/address/0xFceB31A79F71AC9CBDCF853519c1b12D379EdC46> |
| Lista Airdrop Contract Address | <https://bscscan.com/address/0x2ed866Ca9C33bf695C78af222d61Bd4D9cB558d3> |

### Audit Reports <a href="#audit-reports" id="audit-reports"></a>

[<img src="https://github.com/fluidicon.png" alt="Logo" data-size="line">lista-token/audits at master · lista-dao/lista-tokenGitHub](https://github.com/lista-dao/lista-token/tree/master/audits)


# Collateral Debt Position (lisUSD CDP)


# Provide collateral

How to provide collateral

### 1. Connect your wallet[​](https://helio.money/docs/get-started/provide-bnb#1-connect-your-wallet) <a href="#id-1-connect-your-wallet" id="id-1-connect-your-wallet"></a>

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F60fXF9rALi6luWHVkkGg%2Fuploads%2FQqOlYh6nF6efbEpkTtMu%2FProvide%20collateral.mp4?alt=media&token=c121023d-f2a8-4acb-bf30-8c5d5b1c0142>" %}

{% hint style="info" %}
**NOTE**

We are using MetaMask as the example wallet due to its wide adoption in the crypto community.
{% endhint %}

1. Visit the borrow and click **Connect wallet**.
2. Choose MetaMask from the list of wallets.
3. Connect with your wallet and switch to **BNB Smart Chain (Mainnet)** by clicking **Switch network** and approving the action in MetaMask.

### 2. Provide collateral[​](https://helio.money/docs/get-started/provide-bnb#2-provide-bnb-collateral) <a href="#id-2-provide-bnb-collateral" id="id-2-provide-bnb-collateral"></a>

{% hint style="info" %}
The minimum deposit transaction is 0.1 for BNB deposits.

The maximum total borrow limit for lisUSD is currently set at 69,000,000 lisUSD tokens.
{% endhint %}

1. Head over to your Lista DAO CDP dashboard [here](https://lista.org/cdp/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=provide-collateral).

<figure><img src="/files/77ikQ9FQLGcdHrvULiRC" alt=""><figcaption></figcaption></figure>

2. Select the type of collateral you would like to deposit, and click on "Deposit".

<figure><img src="/files/Zszfg60veEg84jSXkZGA" alt=""><figcaption></figcaption></figure>

3. Enter the amount of collateral that you would like to deposit, and click deposit.

<figure><img src="/files/2jhIoe8iIAHSSJbiHfYA" alt=""><figcaption></figcaption></figure>

3. Confirm the transaction in MetaMask.

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FnFK5RKwNZLwBZPyflzVH%252FMetaMask1.png%3Falt%3Dmedia%26token%3Dbc35c421-3e4d-43eb-82c8-3d7a7f7a55b8&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=e974844c&#x26;sv=1" alt=""><figcaption></figcaption></figure>

4. Once the transaction completes, you are done.


# Borrow lisUSD

How to borrow lisUSD

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F60fXF9rALi6luWHVkkGg%2Fuploads%2F466BU7CmKB8AkYKhxSX0%2FBorrow%20lisUSD.mp4?alt=media&token=d86114fc-fbd8-4f74-9c92-ea6fec0503b3>" %}

{% hint style="info" %}
**TIP**

The minimum amount to borrow is 15 lisUSD.

We suggest keeping the borrowing under the threshold shown when borrowing to reduce liquidation risks.
{% endhint %}

To borrow lisUSD:

1. On the borrow page, click **Borrow** against the collateral of your choice.

<figure><img src="/files/Ft7ch24PssOWfrjgWzgr" alt=""><figcaption></figcaption></figure>

1. On the next page, enter the desired amount of lisUSD and click Borrow.

<figure><img src="/files/C41XFNFwDl5b60nduVQ6" alt=""><figcaption></figcaption></figure>

1. Confirm the transaction in MetaMask.

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FenxFsDJFxSJ7lLCSutTe%252FMetaMask2.png%3Falt%3Dmedia%26token%3D87c05774-9ace-4ea4-ae0d-501ee748b7c1&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=abd79a5a&#x26;sv=1" alt=""><figcaption></figcaption></figure>

4. Once the transaction completes, click **Okay** to add the borrowed lisUSD to MetaMask by clicking **Add lisUSD to MetaMask** or simply go back to your dashboard page and see your borrowed lisUSD.

<figure><img src="/files/vGUFSxKkKnd25v1skDNT" alt=""><figcaption></figcaption></figure>


# Repay lisUSD

How to repay lisUSD

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F60fXF9rALi6luWHVkkGg%2Fuploads%2FvCk6Nl7lY2KBVZIzFgXS%2FRepay%20lisUSD.mp4?alt=media&token=381fa24b-28c9-4e27-9c21-ea81528eddfb>" %}

{% hint style="info" %}
**NOTE**

The **Approve** transaction does not mean the repayment is complete.

\
Your loan cannot go under 15 lisUSD, so you can either choose to repay it to the remainder of 15 lisUSD or in full.
{% endhint %}

To repay back your lisUSD loan:

1. Head over to your Lista DAO CDP dashboard [here](https://lista.org/cdp/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=repay-lisusd).

<figure><img src="/files/aoF6MNMPJlzcb5ufmeMU" alt=""><figcaption></figcaption></figure>

2. Select which collateral type you would like to repay your lisUSD against, and click "Repay".
3. Enter the amount of lisUSD you would like to repay, and click on "Repay"

<figure><img src="/files/J4DoEsEwb1AMxeTADxMP" alt=""><figcaption></figcaption></figure>

4. Confirm the action in MetaMask.
5. Once the transaction completes, click **Okay**, and you are done.

<figure><img src="/files/tDs4KdaI8cZQuhWUy5NQ" alt=""><figcaption></figcaption></figure>

[<br>](https://docs.bsc.lista.org/get-started/boost-vault-lisusd)


# Withdraw collateral

How to withdraw collateral

{% embed url="<https://files.gitbook.com/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F60fXF9rALi6luWHVkkGg%2Fuploads%2Fub8H8qdawlnDA1QRNa7y%2FWithdraw%20Collateral.mp4?alt=media&token=c25d60e7-3e67-4f98-8805-310e25e43b58>" %}

{% hint style="info" %}
**Longer vs instant withdrawal**

Before withdrawing, please ensure your outstanding loan is repaid to avoid liquidation of your collateral.

\
**BNB**

BNB takes 7–15 days to be withdrawn, while withdrawing BNB LSTs (Eg. slisBNB) is immediate.

slisBNB is the interest-bearing BNB staking asset and allows you either exchange it for BNB on major DEXs or hold and keep getting BNB Staking rewards that accumulate in slisBNB over time. The longer you hold, the more BNB you'll get when exchanging BNB LSTs to BNB.

The minimum amount to withdraw is 0.1 BNB.
{% endhint %}

To withdraw your collateral:

1. Head over to your Lista DAO CDP dashboard [here](https://lista.org/cdp/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=withdraw-collateral).

<figure><img src="/files/aoF6MNMPJlzcb5ufmeMU" alt=""><figcaption></figcaption></figure>

2. Select which collateral type you would like to withdraw, and click "Withdraw".
3. Input the amount of collateral you would like to withdraw, and click "Withdraw".

<figure><img src="/files/9KEM67YYMNJMfIXamyAS" alt=""><figcaption></figcaption></figure>

4. Confirm the transaction in MetaMask and you are done.

<figure><img src="/files/ar7XvwP6ji6XJFSL3b6O" alt=""><figcaption></figcaption></figure>


# Delegating slisBNBx to your Binance web3 MPC Wallet

It is important to note that the **delegation of slisBNBx happens when users deposit BNB as a collateral on Lista DAO**. Once your BNB has been deposited, the slisBNBx that users obtain will be fixed to that particular address, and it will not be tradeable.

To change the destination address of your slisBNBx. You will have to withdraw your BNB (Which will take 7–15days), and in this case, the slisBNBx will be burnt accordingly. If you are unsure of how slisBNBx operates, do refer to our product update [here](https://medium.com/listadao/product-update-introducing-clisbnb-b64bc353f0ac).

## Guide <a href="#id-8fae" id="id-8fae"></a>

{% embed url="<https://www.loom.com/share/1ffcc566402c446aa7e59cf424296abd?sid=3700f554-3494-4b1b-b647-f00cba5ab40a>" %}

1\. Connect your hot wallet to Lista DAO on Binance Smart chain.

2\. Head over to your Lista DAO CDP dashboard by clicking on "Borrow lisUSD" under the Lending section[ here](https://lista.org/cdp/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=delegating-clisbnb-to-your-binance-web3-mpc-wallet).

<figure><img src="/files/9zZl6GUp0C0BXww0CHds" alt=""><figcaption></figcaption></figure>

3\. Select BNB, and click on “Deposit”.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*5HMs1LY1B2rnmFek" alt="" height="480" width="700"><figcaption></figcaption></figure>

4\. Enter the amount of collateral that you would like to deposit.

5\. If you are already using the Binance Web3 MPC wallet, do not click on the “Delegate slisBNBx to” checkbox. Click deposit, and you will receive slisBNBx in your Binance MPC wallet.

6\. However, if you are depositing BNB from another hot wallet address, the checkbox for “Delegate slisBNBx to”. Enter the address of your Binance Web3 MPC wallet into the text box, and click deposit.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*0XTIGf8dQ-KjiRDD" alt="" height="750" width="700"><figcaption></figcaption></figure>

7\. Once the transaction is successful, you should be able to see slisBNBx in your Binance Web3 MPC wallet. With slisBNBx, you will be eligible to take part in Binance launchpool.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*deS5NduICFQNw88H" alt="" height="988" width="700"><figcaption></figcaption></figure>


# Stable Pool (PSM) - USDT Stable Earn

1. Head over to USDT Stable Earn under the "Earn" section [here](https://lista.org/earn/deposit/USDT?utm_source=gitbook\&utm_medium=article\&utm_campaign=stable-pool-psm-usdt-stable-earn).

<figure><img src="/files/NJ4RISHE5wehBQrrX7LR" alt=""><figcaption></figcaption></figure>

2. Input the amount of USDT, and click on "Convert and Stake".

<figure><img src="/files/pUNzoJYqYoY2Q62uxyuO" alt=""><figcaption></figcaption></figure>


# lisUSD Savings rate (LSR) - lisUSD Saving

1. Head over to lisUSD Savings under the "Earn" section [here](https://lista.org/earn/stake/lisUSD?utm_source=gitbook\&utm_medium=article\&utm_campaign=lisusd-savings-rate-lsr-lisusd-saving).

<figure><img src="/files/t4dRBfCfozT4bMDloOQt" alt=""><figcaption></figcaption></figure>

2. Input the amount of lisUSD and click "Stake"

<figure><img src="/files/rzBMcLvdbHHh5Nc4FaQV" alt=""><figcaption></figcaption></figure>


# Liquid staking - slisBNB


# How to swap for slisBNB

This guide will show you how to swap for slisBNB.

#### Step 1: Open Binance Wallet <a href="#step-1-open-binance-web3-wallet" id="step-1-open-binance-web3-wallet"></a>

1. Launch the Binance Wallet on your device.
2. Ensure you are logged in and have BNB in your wallet.

#### Step 2: Navigate to Swap <a href="#step-2-navigate-to-swap" id="step-2-navigate-to-swap"></a>

1. After logging in, click the "Swap" tab at the bottom of the screen.

#### Step 3: Select BNB to slisBNB <a href="#step-3-select-bnb-to-slisbnb" id="step-3-select-bnb-to-slisbnb"></a>

1. Choose **BNB** from the dropdown as the token you want to swap.
2. Enter the amount of BNB you wish to swap. For example, 0.1 BNB as shown in the image.![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252Frcfh3KRDp34aqXiZgD8U%252Fimage.png%3Falt%3Dmedia%26token%3Dfc60faf2-e059-4c41-b903-f58054bccc08\&width=768\&dpr=4\&quality=100\&sign=a2ef9c70\&sv=1)
3. In the "To" section, select **slisBNB** from the dropdown as the token you want to receive.

#### Step 4: Review the Swap Details <a href="#step-4-review-the-swap-details" id="step-4-review-the-swap-details"></a>

1. Verify the details to ensure they are correct.

#### Step 5: Execute the Swap <a href="#step-5-execute-the-swap" id="step-5-execute-the-swap"></a>

1. Click the **Swap** button to initiate the transaction.
2. Confirm any prompts that appear to complete the swap.


# Mint slisBNB

How to mint slisBNB

{% embed url="<https://www.loom.com/share/ad28a69f3d5948a09578e467c08d5d93?sid=c57a9d57-95e8-425e-bccc-e5562245bfce>" %}

#### **Step 1:** <a href="#id-63cd" id="id-63cd"></a>

Go to [Lista’s BNB liquid staking page](https://lista.org/liquid-staking/BNB?utm_source=gitbook\&utm_medium=article\&utm_campaign=mint-slisbnb) and connect your wallet.

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FwQllcbsLIkAY9MYFDGEw%252Fimage.png%3Falt%3Dmedia%26token%3Df882a7a3-c82c-4c10-8326-68e3245d5902&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=bfef7dfd&#x26;sv=1" alt=""><figcaption></figcaption></figure>

#### **Step 2:** <a href="#d553" id="d553"></a>

Enter the amount of BNB you would like to stake, click “stake”, and confirm the transaction.

Once the transaction has been confirmed, you will receive SlisBNB in your wallet.

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252F6xOuiNWUiZHpOF5b1SwF%252Fimage.png%3Falt%3Dmedia%26token%3D81b9c9e6-9e21-4a23-876d-641889604871&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=8123a9bb&#x26;sv=1" alt=""><figcaption></figcaption></figure>

#### **Step 3:** <a href="#dcd4" id="dcd4"></a>

To see your slisBNB balance on your metamask wallet, click on your metamask wallet extension.

Scroll to the end of your tokens page & click “import tokens”.

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FLJaiPBcsPqRiAkLAHp4G%252Fimage.png%3Falt%3Dmedia%26token%3Dc744d18f-6385-4ba8-a2c0-904e34fc7922&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=ebdc37f9&#x26;sv=1" alt=""><figcaption></figcaption></figure>

#### **Step 4:** <a href="#a89d" id="a89d"></a>

Copy and paste slisBNB’s into “token contract address” and click “add custom token”.

slisBNB’s contract address: ***0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B***

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252F58GB0KaF5vfJ46IjwS6f%252Fimage.png%3Falt%3Dmedia%26token%3D07f5cd1e-f8f0-4ca6-804d-401952ebeef2&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=9ee964e0&#x26;sv=1" alt=""><figcaption></figcaption></figure>

You should be able to see your slisBNB balance now.


# Redeem BNB from slisBNB

How to redeem BNB from slisBNB

#### &#x20;<a href="#id-4299" id="id-4299"></a>

{% embed url="<https://www.loom.com/share/194d96042ed64669b30cf44c5df3261b?sid=b5fb2a59-1e06-4a05-9fa5-189fe49d1ad1>" %}

#### **Step 1:** <a href="#id-4299" id="id-4299"></a>

To unstake your BNB, return to the main page, and click on “unstake”

<figure><img src="/files/8Qyx26jrg1qohBZ2kSzx" alt=""><figcaption></figcaption></figure>

#### **Step 2:** <a href="#ac51" id="ac51"></a>

Enter the amount of BNB you want to unstake, and click “Unstake”. Approve and confirm the transaction on Metamask, and you are done.

Note: Users will have to wait a period of 7–15 days before users can withdraw their BNB.

#### **Step 3:** <a href="#id-4a01" id="id-4a01"></a>

Head over to the withdraw section to check the status of your BNB withdrawal.

<figure><img src="/files/f3chmGANKZiI8ne5hX1U" alt=""><figcaption></figcaption></figure>

#### Step 4: <a href="#id-29f4" id="id-29f4"></a>

Once BNB has been successfully unstaked, click “claim” & confirm the transaction, and you are done!

<figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FobtzR9iUbGjsIDAYTufm%252Fimage.png%3Falt%3Dmedia%26token%3D2ac1c558-765d-40d3-8b82-3c87a0afad7a&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=912fa199&#x26;sv=1" alt=""><figcaption></figcaption></figure>


# Bridging slisBNB to Ethereum

Bridging slisBNB between BSC and Ethereum does not warrant any bridging fees. Users only need to pay for gas fees to move their slisBNB across the two blockchains.

### Bridging slisBNB between BSC and Ethereum:

1. Head over to [Lista.org](https://lista.org?utm_source=gitbook\&utm_medium=article\&utm_campaign=bridging-slisbnb-to-ethereum), connect your wallet, and head over to the liquid staking section.
2. Once you are at the liquid staking page, click “Go to Bridge” at the bottom.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*fMP4h2_33jz_MqeW" alt="" height="504" width="700"><figcaption></figcaption></figure>

3\. Once you are at slisBNB’s bridging page, insert the amount of slisBNB that you would like to bridge over.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*SN8sizPukAKJ7VbI" alt="" height="591" width="700"><figcaption></figcaption></figure>

4\. Bridging slisBNB over to Ethereum will take around 3 to 5 minutes to process. Users can check the status of their transactions on LayerZero scans [here](https://layerzeroscan.com/).

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*oDHYvnHxRHlJQhTg" alt="" height="537" width="700"><figcaption></figcaption></figure>

5\. Here is an example of how your transactions will look like if you have multiple bridging transactions queued up.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*FoTjKdnXBOip7SbH" alt="" height="653" width="700"><figcaption></figcaption></figure>

[<br>](https://medium.com/@ListaDAO?source=post_page-----61e6e468074d--------------------------------)


# Smart Lending

Take our slisBNB/BNB vault for example and assume we are borrowing USD1. Select ‘Smart Lending Zone’ under ‘Lending’ on the top navigation bar. Or, on [Lista’s Lending page](https://lista.org/lending/borrow?onlySmartLending=1\&utm_source=gitbook\&utm_medium=article\&utm_campaign=smart-lending), toggle ‘Smart Lending’ and select [this vault](https://lista.org/lending/smart-market/bsc/0x9ae45397a8063220d4cdb41ad9268d4c173dd18ca778171e9dee0644dfbe4cbd?tab=market\&utm_source=gitbook\&utm_medium=article\&utm_campaign=smart-lending).

<figure><img src="/files/GQL5nCKZkIqVr11EG6p6" alt=""><figcaption></figcaption></figure>

#### Supply Collateral and Borrow

1. Supply collateral (slisBNB, BNB, or both):

Your assets are deposited into an LP for Lista’s DEX and you can choose to supply any one of them or both at a certain ratio.

* Switch to Custom Ratio to supply slisBNB and/or BNB at any ratio. Lista will automatically rebalance before depositing them into the LP.
* Switch Fixed Ratio to supply slisBNB and BNB based at the same ratio as the LP. If a deposit risks imbalancing the pool beyond its thresholds (e.g., an excess of one asset), then Fixed Ratio will become mandatory, requiring deposits of both slisBNB and BNB in the exact same ratio as in the LP to maintain pool stability.

![](/files/s46v1Pj4W6LFVMLc2ABB) ![](/files/BHLyAq3thIlck8xIyWlU)

2. Set your slippage tolerance. Then enter the amount of USD1 you wish to borrow, click on ‘Supply & Borrow’, and approve & transfer your assets. Upon successful deposit, you will receive your loan.
3. You can also just supply collateral without borrowing any asset. This way, you will be able to enjoy maximal return from this vault. Remember you can always come back and borrow against your collateral.

![](/files/X9unX0VZTBe9EdaHZ9TD)

Note that when you supply your collateral, assets may be swapped via DEX aggregators to fulfill the request. If you’re supplying assets with Custom Ratio and your slippage tolerance is too low, Lista's smart contract may not be able to make the swap and your transaction will fail.

#### Repay and Withdraw

1. First, repay your borrowed assets in part or in full. The amount of collateral available for withdrawal depends on your outstanding loan.

![](/files/Y4JmM6DD8iySsrGW9Pjk)

2. Choose to withdraw both assets at the same ratio as in the LP or at a custom ratio by switching between Fixed Ratio and Custom Ratio. Click on ‘Repay & Withdraw’ to repay your loan and withdraw your collateral.

If one of the assets in the LP is in short supply, that is, below a certain percentage threshold, withdrawals will be restricted to Fixed Ratio, or the other asset only.

![](/files/LMUOzDqLc66whIgiQ9ef) ![](/files/lDWgImYwQpd6Qu0U76XZ)

3. You can also just repay your loan and let your collateral keep generating interest for you.

Note that when you withdraw, assets may be swapped via DEX aggregators to fulfill the request.

Technically, you can also swap assets via Smart Lending by depositing just one asset as collateral and withdrawing just the other without taking any loan.

#### Liquidation

When you take out a loan on your collateral, please pay close attention to price fluctuations because whenever your LTV is below a certain threshold, Lista’s liquidation process will be triggered and a portion of your collateral will be sold to cover your loan. Refer to our [liquidation documentation](https://docs.bsc.lista.org/introduction/lista-lending/liquidation) for more information.

\ <br>


# Lista Lending


# Borrowing and repaying

## Borrowing and Repaying loans on Lista Lending

{% embed url="<https://www.loom.com/share/ae4cefee54c64a9ab42c6f706e771226?sid=a4ce1568-7ad2-4515-bf40-56842f624d34>" %}

## Borrow

1. Connect your wallet and head over to the borrow section of our Lista Lending page [here](https://lista.org/lending?tab=borrow\&utm_source=gitbook\&utm_medium=article\&utm_campaign=borrowing-and-repaying).

<figure><img src="/files/infUSuUdHvR2mLdrr85l" alt=""><figcaption></figcaption></figure>

2. Select the classic zone, and choose a market that you would like to borrow from. For simplicity sake, we will choose the slisBNB/USD1 market. Click on the selected market.

<figure><img src="/files/KMV2t9IEfc8H1YSAJILV" alt=""><figcaption></figcaption></figure>

3. Supply slisBNB collateral, and borrow USD1 by inputing the amount in the respective textbox, and click "Supply & Borrow".

<figure><img src="/files/QLwbYHiVX8Eqr287on8I" alt=""><figcaption></figcaption></figure>

## Repay

1. Click on My dashboard to view all your borrowing positions [here](https://lista.org/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=borrowing-and-repaying).

<figure><img src="/files/SDGSAfh57oWYdpMCiMjT" alt=""><figcaption></figcaption></figure>

2. click "Repay" on the market you want to repay under the "Borrowed" section

<figure><img src="/files/OsiqPUhchePbp0OzOt7U" alt=""><figcaption></figcaption></figure>

3. Input the amount to repay, and confirm the transaction.

<figure><img src="/files/8cB0q6z0i96abI33jygn" alt=""><figcaption></figcaption></figure>


# Lista Lending Earn

{% embed url="<https://www.loom.com/share/bd0a7948601945c191c7792fab0cbbb9?sid=c78dc44f-9565-4ed0-ab37-29cf191d63e0>" %}

1. Head over to Lista Lending's Earn page [here](https://lista.org/lending?tab=earn\&utm_source=gitbook\&utm_medium=article\&utm_campaign=lista-lending-earn).

<figure><img src="/files/KbqUbvSyfvr0YxNePzD6" alt=""><figcaption></figcaption></figure>

2. Click on Classic collateral. (To participate in the Alpha zone, read [here](/introduction/lista-lending/vaults/lista-alpha-zone))
3. Filter for the curator and deposit asset type on the top left hand corner, or search for the name of the vault that you are looking for.

<figure><img src="/files/PRqShInzWzGXMTkbuyHs" alt=""><figcaption></figcaption></figure>

4. Select the vault you are looking for. In this example, we will use the Lista USD1 Vault as an example.

<figure><img src="/files/HPHVItUXvLztdEgKwmwI" alt=""><figcaption></figcaption></figure>

5. Input the amount and click on "Deposit". Confirm the transaction and you are done.

<figure><img src="/files/MTCRwDKg0O5vXXleRGKc" alt=""><figcaption></figcaption></figure>

6. Check and monitor your positions in your dashboard [here](https://lista.org/dashboard?utm_source=gitbook\&utm_medium=article\&utm_campaign=lista-lending-earn).

<figure><img src="/files/kyaOaSj1P6QtMZON9YfO" alt=""><figcaption></figcaption></figure>


# How to create a vault: Lista Lending vault GUI)

## Introducing the Lista Lending Vault GUI <a href="#id-20cc" id="id-20cc"></a>

The Lista Lending Vault GUI is a powerful addition to our protocol, designed to meet the growing demand for customizable vaults as our ecosystem expands with new partners and use cases.

Built on the secure foundation of Lista Lending, the Vault GUI enables experienced DeFi users to create and manage vaults tailored to their specific strategies. Whether you’re a curator optimizing yields, a partner integrating assets, or a power user seeking advanced control, this interface streamlines the process with intuitive design and robust functionality.

## Key Features of the Vault GUI (V1.1) <a href="#id-653d" id="id-653d"></a>

The Vault Manager V1.1 introduces a suite of core functions to enhance user experience and vault management:

* **Vault Creation**: Easily set up new vaults with customizable parameters like vault name, asset, timelock, and owner address.
* **Role Management**: Assign and modify roles (Owner, Curator, Guardian, Allocator) to ensure secure and efficient vault operations.
* **Parameter Settings**: Fine-tune vault settings, including performance fees (up to 50%), fee recipient, and timelock duration (up to 14 days).
* **Vault–Market Management**: Connect vaults to specific Lista Lending markets and manage supply caps for optimized liquidity.
* **Vault Dashboard**: Monitor key metrics like Total Value Locked (TVL), vault address, and performance fees at a glance.

## User Guide: How to Create Your Own Vault <a href="#f58f" id="f58f"></a>

## Step 1: Access the Vault Manager <a href="#id-3c4f" id="id-3c4f"></a>

1. Navigate to <https://manager.lista.org/> on a desktop browser.
2. Connect your wallet (e.g., MetaMask) by clicking the wallet connection button. Ensure your wallet is set to BNB Smart Chain.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*rhreh_VnigfFNMCu" alt="" height="215" width="700"><figcaption></figcaption></figure>

## Step 2: Create a New Vault <a href="#id-6f81" id="id-6f81"></a>

1. From the Vault Manager homepage, click “Create Vault” to navigate to the vault-creation page.
2. Fill in the core parameters:

* **Manager**
* **Curator**
* **Guardian**
* **Timelock (days)**
* **Asset Contract Address**
* **Vault Name**
* **Vault Symbol**

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*0WRQDKT-mXhYs7Uw" alt="" height="447" width="700"><figcaption></figcaption></figure>

## Step 3: Explore the Vault Dashboard <a href="#ffb0" id="ffb0"></a>

1. The dashboard displays:

* Vault Name
* Vault Address
* TVL
* Core Parameters: Performance Fee, Fee Recipient, Timelock

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*A3_tgnWrTh8XtX50" alt="" height="253" width="700"><figcaption></figcaption></figure>

2\. Click on Core Parameters to adjust your vault settings

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*oTcCNk8QsGvszS_Z" alt="" height="439" width="700"><figcaption></figcaption></figure>

3\. Use the dashboard to:

* Manage roles (e.g., assign Curators or Allocators).
* Adjust timelock settings.
* Monitor vault performance.

## Step 4: Market Management <a href="#c198" id="c198"></a>

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*G3ftWwrvUKgRSdbq" alt="" height="391" width="700"><figcaption></figcaption></figure>

1. Add markets by searching for Market ID or collateral name, ensuring they match your vault’s asset.

<figure><img src="https://miro.medium.com/v2/resize:fit:1400/0*9axHFLuFgbHVRKab" alt="" height="323" width="700"><figcaption></figcaption></figure>

2\. Set market caps and approve or reject pending markets.

**Conclusion**

The Lista Lending Vault GUI empowers our community to shape the future of DeFi with custom vaults that optimize yields and security. We invite experienced DeFi users to explore Lista DAO’s vault manager; to create their first vault, and share feedback with us.


# How to create a vault: Manually

Lista Lending enables permissionless creation of lending vaults on BNB Chain, allowing curators to deploy custom liquidity pools that optimize yield and manage risk. A Lista Vault accepts a single loan asset (e.g., lisUSD) and allocates deposits across multiple Lista markets. This guide walks you through the process of deploying and configuring a vault, empowering you to curate lending opportunities within Lista DAO’s ecosystem.

Vaults are upgradeable smart contracts, offering flexibility to adapt to market needs while maintaining noncustodial security. Curators can set allocation strategies, fees, and risk parameters, making Lista Lending a powerful tool for tailored DeFi solutions.

#### Prerequisites

Before creating a Lista Vault, ensure you have the following:

* BNB Chain Wallet: A wallet (e.g., MetaMask) configured for BNB Chain with sufficient BNB for gas fees.
* Development Environment: A Solidity development setup (e.g., Hardhat, Foundry) with Node.js installed.
* Loan Asset: The ERC-20 token to be used as the vault’s loan asset (e.g., lisUSD, BNB).
* Market Knowledge: Familiarity with Lista Lending markets (loan/collateral pairs) to allocate liquidity effectively.
* Oracle Selection: Chainlink (Main), Binance Oracle(comparative), Redstone(Backup) for price feeds.

## Creating a vault - Guide

### Step 1: Define Vault Parameters

To deploy a vault, specify the following parameters:

1. Loan Asset: The single asset users will deposit and borrow (e.g., lisUSD).
2. Initial Markets: List of Lista markets (e.g., pt-clisBNB/lisUSD) to allocate liquidity to initially.
3. LLTV Options: fixed Liquidation Loan-To-Value ratio at 80%
4. Oracle: Chainlink (main), Binance Oracle (comparative), Redstone (Backup) for price data across markets.
5. Fee Structure:
   * Protocol Fee: Set by Lista DAO (0-25% of borrow interest).
   * Vault Fee: Optional curator fee, up to 50% of vault profits.
6. Timelock: Optional delay (e.g., 24 hours) for parameter changes
7. Roles:
   * Owner: You, the deployer, overseeing vault strategy.
   * Curator: Optional role for for setting caps and other important parameters (can be the Owner initially).
   * Guardian: Optional role for risk oversight (e.g., to pause actions).
   * Allocator: The role to allocate vault markets

***

### Step 2: Deploy the vault

#### Step 2.1: Prepare the Parameters

#### Before deployment, you need to prepare the following parameters:

* **manager: Manager address (must be a timelock contract), this will be the same as the owner role**
* **asset: Asset address**
* **name: Name of the vault, used primarily for display and identification purposes**
* **symbol: The abbreviation or ticker symbol of the vault.**
* **This symbol is a shorter way to represent the vault, typically used in interfaces and listings.**
* **curator: Curator address (must be a timelock contract)**
* **allocator: Allocator address (does not need to be a timelock contract)**

#### All these parameters need values (marked as "TODO" in your reference image).

#### Step 2.2: Clone the Repository

#### Navigate to the specific branch of the Moolah repository:

#### `git clone https://github.com/lista-dao/moolah.git`

`cd moolah`

`git checkout feature/deployScripts`

#### Step 2.3 Fill in the params

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeGvAXo0gAEzsaOkYxIK1Dm0adyqL92MlzaInn7f_XazsyW77r5QT_wQ8-GtQveOJTqVSYH-KlSPAYdi4fZhWk-VnzBb-xITBSokRxl-WtoMxzaUG-kI7HXHMSrmNUu9BO32ITa?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

#### Step 2.4: Execute the Deployment Script

Run the following command to deploy the vault contract to BSC network:

`forge script script/deploy_moolahVault.sol --rpc-url bsc --broadcast --verify -vvv`

This command will:

* **Execute the deployment script**
* **Connect to the BSC network**
* **Broadcast the transaction to deploy the contract**
* **Verify the contract on the blockchain explorer**
* **Provide verbose output (-vvv) for detailed logs**

#### Make sure you have sufficient funds in your wallet to cover gas fees and that your environment is properly configured for Foundry.

***

### Step 3: Configure the Vault

Here are methods you can use to configure your vault.

#### 3.1 Set Fee

Role: `MANAGER`\
Method: `setFee`\
Parameter:

* `newFee (uint256)`: The new fee value, with a precision of 1e18.

#### 3.2 Set Fee Recipient

Role: `MANAGER`\
Method: `setFeeRecipient`\
Parameter:

* `newFeeRecipient (address)`: The address that will receive collected fees.

#### 3.3 Set Skim Recipient

Role: `MANAGER`\
Method: `setSkimRecipient`\
Parameter:

* `newSkimRecipient (address)`: The address that will receive mistakenly transferred tokens.

#### 3.4 Set Market Supply Cap

Role: `CURATOR`\
Method: `setCap`\
Parameters:

* `loanToken (address)`: Loan token of the market.
* `collateralToken (address)`: Collateral token of the market.
* `oracle (address)`: Price oracle for the market.
* `irm (address)`: Interest rate model.
* `lltv (uint256)`: Loan-to-value threshold.
* `newSupplyCap (uint256)`: Maximum deposit cap for the specified market.<br>

Note: These parameters should match the configuration used when the market was created.

#### 3.5 Set Deposit Queue

Role: `ALLOCATOR`\
Method: `setSupplyQueue`\
Parameter:

* `newSupplyQueue (bytes32[])`: An array of marketIds defining the deposit order. Deposits will be routed to markets in the specified sequence.

#### 3.6 Update Withdraw Queue

Role: `ALLOCATOR`\
Method: `updateWithdrawQueue`\
Parameter:

* `indexes (uint256[])`: Array of indexes that reorders the existing withdraw queue.<br>

Note: The indexes refer to positions in the current withdraw queue.

#### 3.7 Set Market Removal

Role: `CURATOR`\
Method: `setMarketRemoval`\
Parameters:

* `loanToken (address)`
* `collateralToken (address)`
* `oracle (address)`
* `irm (address)`
* `lltv (uint256)`

Note: This marks a market for removal. The market will only be removed after the Vault's position in it is zero, and the updateWithdrawQueue function has been called.

#### 3.8 Role Management

#### 3.8.1 Grant Role

Role: `ADMIN` or `MANAGER`\
Method: `grantRole`\
Parameters:

* `role (bytes32)`: Role identifier.
* `account (address)`: Address to assign the role to.

#### 3.8.2 Revoke Role

Role: `ADMIN` or `MANAGER`\
Method: `revokeRole`\
Parameters:

* `role (bytes32)`: Role identifier.
* `account (address)`: Address to remove the role from.

***

### Step 4: Deploy the TimeLock

#### 4.1: Prepare Parameters

First, you need to prepare three key address parameters:

* proposer address: The address that will create transactions
* executor address: The address that will execute transactions
* canceller address: The address that will cancel transactions

Before beginning deployment, make sure you've decided on these three addresses. You should fill in the actual addresses you want to use in the table.

#### 4.2: Deploy the Timelock Contract

Navigate to the repository at[ https://github.com/lista-dao/moolah](https://github.com/lista-dao/moolah) and switch to the `feature/deployScripts` branch.

#### 4.3: Fill in the params

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcWIqKdLYE030gQ7c8ycJepyI9iJaILG5K-CrdqY-_84AUR40c4GD66fl63cfvc53-b8d4K1FgjUGqAM_oGfq1U2xRzuCCpO2zHisDLaxhp_Www77LcdH86uKidjyysTdsSc3JI?key=ZbB0Bdp_i9xaaxZIxmtWD2y_" alt=""><figcaption></figcaption></figure>

Run the following command to deploy the Timelock contract:

`forge script script/deploy_timeLock.sol --rpc-url bsc -vvv --broadcast --verify`

This command will:

* Execute the deployment script for the Timelock contract
* Connect to the BSC network
* Provide verbose output (-vvv)
* Broadcast the transaction to the network
* Verify the contract on BSC Scan

Make sure you have sufficient funds in your deployment wallet to cover gas fees and that you have properly configured your environment variables for authentication with the network and verification service.

### Step 5: Verify and Activate

1. Verify on BscScan
   * Submit your vault’s contract code to BscScan for transparency (use the deployed address).
2. Test Deposits
   * Deposit a small amount of the loan asset (e.g., 10 lisUSD) to ensure the vault functions as expected.
   * Check allocation and APY via the Lista Lending interface.
3. Go Live
   * Announce your vault to the community (e.g., Lista DAO Discord) to attract depositors.

#### Post-Deployment Management

* Monitor Performance: Track APY and market conditions via the Lista Lending dashboard.
* Rebalance Liquidity: Adjust allocations as needed using the Allocator role.
* Upgrade if Necessary: Leverage the upgradeable design to modify parameters or add features (requires Owner permissions).
* Handle Bad Debt: Manually settle or distribute unrealized bad debt per vault settings.


# How to create a Market on Lista Lending

1\. Confirm Market Parameters

* loanToken
* collateralToken
* Oracle
* Irm
* lltv

| Parameter       | Type    | Description                              |
| --------------- | ------- | ---------------------------------------- |
| loanToken       | address | Contract address of the borrowing token  |
| collateralToken | address | Contract address of the collateral token |
| oracle          | address | Address of the oracle                    |
| irm             | address | Address of the interest model            |
| lltv            | uint256 | Loan-To-Value rate                       |

Note：

* Oracle: The oracle must implement the following method, where asset is the token address. The function should return the asset price with 8 decimals of precision:

function peek(address asset) external view returns (uint256);

* IRM (Interest Rate Model): This must be enabled by Lista Lending’s manager using enableIrm. By default, the protocol uses the IRM deployed by Lista Lending at the following address: \[TBD]
* LLTV (Loan-to-Value for Liquidation): This must also be set by Lista Lending’s manager using enableLltv. Users may choose from the enabled LLTV options to create a vault.<br>

## 2. Create Markets

1. Jump to the contract address: <https://bscscan.com/address/0x8F73b65B4caAf64FBA2aF91cC5D4a2A1318E5D8C><br>
2. Fill in attributes\
   ![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXcMq245iohsignlpyM7nwuKu_qD1cEOqLodL8U7NkVi0BnVBr9F8r4uHkQG1s-waQIXMu1bHmfnhFUVjFn6mb1Nip5_w1SST32f5HIjBc1DxP0wSX7jZtG3XxXaf-3F6OHREdeReQ?key=wfz3O-Nby90_rWV7ZzqEXcEA)
3. Approve and done!

## 3. Set up fees \[Optional]

Only the Manager address has the authority to set up market fees. Market fees will be default 0 if not set up.

1）Jump to the main contract address: <https://bscscan.com/address/0x8F73b65B4caAf64FBA2aF91cC5D4a2A1318E5D8C>

2\) Fill in the attributes, where newFee is the parameter for setting the fee rate, with 1e18 decimal places. For example, fill 100000000000000000 for 10% rates.

![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXdcBaYVU5LBqgZNIPcnesIWSagugP5HU0IveB68oe0S7YCEr4JCsyyfSpT_Ihn2VTVvku8TNrhb6ResvemvrIfiySlrftyBoA1Tn6YzApwcz--lpgXO5pAW_14z6iblA7ovqpDNpQ?key=wfz3O-Nby90_rWV7ZzqEXcEA)

## 4. Verify results

![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXep-PuU2c22WHnpMt_cGfvYO1AMWS9QLu4gVqQlo5ONW1P9LyJwInmzrBzK7LdsPY0oKmrLBJKn68T-_wkfJ7jcMJerjOGZ-Qi4Zqb3KUU9LnhchzgpZoXf9c89_9uCs5Wa9Tmq?key=wfz3O-Nby90_rWV7ZzqEXcEA)

marketId can be obtained from the transaction creating the market, where id refers to the marketId

![](https://lh7-rt.googleusercontent.com/docsz/AD_4nXcloxfriNnhSkciVemSDkTz5z7UU1sU3B51N9RLrXOWkJfD6uArwR7CvMmEVyMMLwNHnx2Y_6xlCnvyTa92arwAgxM8wis4quEM141xAl8z2098iC0hFqy-ESVKd_gKddsVxUTZYg?key=wfz3O-Nby90_rWV7ZzqEXcEA)

Fee rate can be obtained via the market function in the contract by passing in the marketId as a parameter.

* Check the transaction that successfully creates market
* Check marketId
* Check fee rate


# Using Binance Wallet


# Liquid staking BNB into slisBNB

Step 1: Funding your wallet with BNB

1. Log in to your Binance app and click on the “Wallets” section. Go to “Web3”. ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FwIFMryMLKXPUzKtqtgdI%252Fimage.png%3Falt%3Dmedia%26token%3D8a794379-12a7-4dc1-8c1c-c252cd3e8a0f\&width=300\&dpr=4\&quality=100\&sign=2fcebd70\&sv=1)
2. To fund your wallet, click on “receive”. If you are transferring funds from your binance account, click on “transfer in”.

   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FVL9aulbuRNV0a3o17LmIfjN2fLV1MyCMiBInf7BuwKKHTawf9fX6g78GzMVs-NGZ6EjeXL0xGlCl3TvOwzpoHKJxQtfx17m038wBhuZYYNMZlUOWnUQsAd5RlAn7m3LGKXHRCKPobUpWlAMog_Mb2M0\&width=768\&dpr=4\&quality=100\&sign=8a026e3b\&sv=1)
3. Select the Coin to transfer, which will be BNB in this case, and choose the BNB smart chain (BEP-20) network to transfer your funds through.

   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FepCaqTmH4Lwhua28wPBCQQLjsUgenpe452uYzFEo5psnZLpyVWJL9rGhxUIe8X7cgWYP5vLTXiwmTDf0fzb69OqFZRxjUuaRt1TtPW3Zh5BV_4xRBLnkRlxQLtzUqKyPnze_26bQfUWDFd2EM6VT-js\&width=768\&dpr=4\&quality=100\&sign=f4a4403f\&sv=1)
4. Select the amount of BNB that you would like to transfer into your Binance Wallet, and click withdraw. Note: To qualify for Lista DAO’s “The Drop” campaign, a minimum of 0.01 BNB is required to be liquid staked into slisBNB.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FI6RDRx_L0URN9pp5d7xEiFxJtmBxaXnKgzvrqmSt0ycflbQKbEU4p7wkat6Pxwfm8l-whVBTwZm6DQAkt9-26iregNlPGpV5iRjYPNr3OqM3S2FDctWjYZ9uc-KFwSrcz7aVLkCJ9k_he3aFBGECH9A\&width=300\&dpr=4\&quality=100\&sign=11148b60\&sv=1)

#### Step 2: Liquid staking BNB into slisBNB on Lista DAO <a href="#step-2-liquid-staking-bnb-into-slisbnb-on-lista-dao" id="step-2-liquid-staking-bnb-into-slisbnb-on-lista-dao"></a>

1. Once your wallet has been funded with BNB, the next step is to liquid stake your BNB into slisBNB on Lista DAO.
2. Head over to the “Earn” section on the bottom right hand corner. ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FPHWYq9wMkPatPjT5uaQZ%252Ftelegram-cloud-photo-size-5-6249301136964172966-y.jpg%3Falt%3Dmedia%26token%3Ddb9a59af-f069-47f4-912b-ed089af2eb76\&width=300\&dpr=4\&quality=100\&sign=bf90dc7a\&sv=1)
3. Under Lista DAO, click "stake".\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FIVtRws1uWlD2ump1F7Pu%252Ftelegram-cloud-photo-size-5-6249301136964172968-y.jpg%3Falt%3Dmedia%26token%3De5ebd172-b4e4-46e6-9e38-274976b1ed56\&width=300\&dpr=4\&quality=100\&sign=9f524dbb\&sv=1)
4. You will be redirected to Lista DAO’s landing page in the app. Connect your Binance Wallet, and click on “Stake”.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252Fao1T15MqEhRLKJHTGAAW%252Fimage.png%3Falt%3Dmedia%26token%3D8c7ce4ad-d7b7-47f0-9f7a-55d959b5986d\&width=300\&dpr=4\&quality=100\&sign=78f5fbf6\&sv=1)
5. Input the amount of BNB you would like to liquid stake on Lista. Remember to leave some BNB behind for gas!\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FPiLMR9oSzdIoNF7V7mejgbHh6jWQBsOIaAVDlno3n1otnf_29-PHM79_fSUNjERWIr8H8ymmrZDWtfDyYtOoeO5bUaBqTCvFIwJj1L5VuBJaq-M1teCaPAGZ-2_GaRq_6_Yad-fk51LW_kaPO393pfc\&width=300\&dpr=4\&quality=100\&sign=4964b416\&sv=1)
6. Confirm the transaction, and a notification will appear once your BNB has been liquid staked on Lista DAO.

   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2F7-OFZLK4_fHu7qSh4XW1rSJFbmQLSWzg42HZaR68c8o9DFCflyCognEt88pDFZrvuON2kJ_i-vcCRCnCNT49V-HKHbAS-CvqTccYcaBri4AzDqZmDz1WKZ5chsY5M70YI9vaTWPXmbScI5uomgTL7ls\&width=768\&dpr=4\&quality=100\&sign=92883237\&sv=1)
7. Once the transaction has been confirmed, you have completed the task

#### How to withdraw/Unstake BNB on Lista DAO <a href="#how-to-withdraw-unstake-bnb-on-lista-dao" id="how-to-withdraw-unstake-bnb-on-lista-dao"></a>

1. To unstake BNB on Lista DAO, navigate to the Lista DAO page by following the instructions given in step 2. (from instruction 1 to 4).
2. Connect your Binance Wallet and click on “Stake BNB”. ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252Fao1T15MqEhRLKJHTGAAW%252Fimage.png%3Falt%3Dmedia%26token%3D8c7ce4ad-d7b7-47f0-9f7a-55d959b5986d\&width=300\&dpr=4\&quality=100\&sign=78f5fbf6\&sv=1)
3. Head over to the unstaking section by clicking on the “unstake”, and input the amount of BNB you would like to withdraw/unstake, and confirm the transaction. Take note: There will be a 7-15 days unstaking period.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FPld8G0rkw3zjwl1gIPWrsGSwThHOX_OeX_tiqIjCvSPOA4G2y3q8lifAeUnzJIP6OzV9DANVEj7EciFLEqV2uv6j4CqXoJRSjbvzxVS_TDUmmGPn63iRT_BQn-foJ-54dGERdeDpxKjchjBZ35jkIog\&width=768\&dpr=4\&quality=100\&sign=26d38f5d\&sv=1)
4. Once the withdrawal transaction has been confirmed, you can monitor the status of your withdrawal under the “withdrawal section” here.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FngUqGxvz73zW4iOTdwNGUG6n5hvLcfaKegMX0NV4oWWW255wnmmvLLrxXnxS0HyodhDlsdEw9RWy8Zny2XKCklFmqQhdiaOG9Nn-87KDouAAbAQeQBIohB6spDS5IqhhEvdanmXVa-bR5uTMWYzDoDk\&width=300\&dpr=4\&quality=100\&sign=75fe9201\&sv=1)
5. Once the transaction has been confirmed, you are done!


# Obtaining lisUSD

There are many ways to complete this task, but we recommend experiencing our borrowing process, where you can quickly obtain lisUSD at a lower interest rate by collateralizing BNB.

1. Select "Add BNB" as collateral.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FFjcpQZ97jzItnGeagxU1%252Fimage.png%3Falt%3Dmedia%26token%3Dae8404f2-1f21-4445-9e04-d4d02357a47d\&width=300\&dpr=4\&quality=100\&sign=65c755c6\&sv=1)
2. Enter at least 0.1 BNB and confirm.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252F6q6UVdwE92DKQZlVKmNB%252Fimage.png%3Falt%3Dmedia%26token%3D9647f74a-4424-411a-aa93-bb1b5b620751\&width=300\&dpr=4\&quality=100\&sign=73d4b1b6\&sv=1)
3. Choose to borrow.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FYnhDxqWiFlgJMMe7KtRh%252Fimage.png%3Falt%3Dmedia%26token%3D247abd62-9f10-4ac9-9a83-2c014dc7803d\&width=300\&dpr=4\&quality=100\&sign=c8f621b8\&sv=1)
4. Enter a minimum of 15 lisUSD and confirm.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FFFfU4RnIcRLqPBtbV2cD%252Fimage.png%3Falt%3Dmedia%26token%3D1fe735c3-8e33-4c33-88b8-442946e286f3\&width=300\&dpr=4\&quality=100\&sign=85e1272\&sv=1)
5. Once borrowing has been successful, the task is completed.

## Using Binance Wallet <a href="#using-binance-web3-wallet" id="using-binance-web3-wallet"></a>

1. Head over to the “swap” section.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FdrwUEH2TJ_b05QhPtZsaElZx-8dLJDeK6fgUT7BvluPQIR6bXbizjk5K_PB4A4l6th5D4TaeV51Rvpz-5sBJ5816USqOWg4bTo7L1AjSZJDGxz48FR0GByRxXIlNpwxOrOpizz_Ua2IQFlhfURsAyi4\&width=300\&dpr=4\&quality=100\&sign=a43464b4\&sv=1)
2. Search for “lisUSD” under the “receive” search bar.

   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252F02zmX2R49GJovfMKyztm%252Fimage.png%3Falt%3Dmedia%26token%3D4a7070eb-78a1-4090-9804-f0b4a4b897d7\&width=768\&dpr=4\&quality=100\&sign=2efad1f2\&sv=1)
3. Insert the amount of lisUSD you would like to swap for and click confirm.

   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FFxharSIQ8Zn1aZr9Uhmh%252Fimage.png%3Falt%3Dmedia%26token%3Def5f7ad5-ab7a-432b-841e-f66ea63dab7a\&width=768\&dpr=4\&quality=100\&sign=de7a7683\&sv=1)

Once the transaction has been confirmed, you are done!


# Trading on APX Finance

1. Log in to your Binance app and click on the “Wallets” section. Go to “Web3”. ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FmHFaY3A4GeDdLvgySoS2mBU64RN2IN9PkodHoe3siPkvrY7cgw1EpOX-bkipJSNkzGB6pfT6TemVLkIBFLpxk3YBxF1Z7hEo6cHzPCAUkHg4_7FGrZ1MXy3YvbzIQfgeSn6wVGd4Dy_8D3k1wv7Y7fs\&width=300\&dpr=4\&quality=100\&sign=4cbcc6d\&sv=1)
2. Head over to the “Discover” section.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FpmhO2KmVKor4yP5DE0qa%252Fimage.png%3Falt%3Dmedia%26token%3D3a9ee3da-b3e6-41b4-9093-1323a883c954\&width=300\&dpr=4\&quality=100\&sign=4c95f0c1\&sv=1)
3. Search for “APX Finance” and click on it.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252F2JwkmOUyVMeZAp4tDRXq%252Fimage.png%3Falt%3Dmedia%26token%3Db44e532a-8937-40a3-8981-f837956adbb6\&width=300\&dpr=4\&quality=100\&sign=64001fff\&sv=1)
4. Click on “trade now”.\
   ![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2F1284749027-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FeuAQJMk753IWaCTi0zzi%252Fuploads%252FVBZZenqwfgIle9sfvMfk%252Fimage.png%3Falt%3Dmedia%26token%3D300ee941-ad7e-47e5-9473-800f2cb835f4\&width=300\&dpr=4\&quality=100\&sign=14c0caf4\&sv=1)
5. Connect your wallet, and open your short or long positions using lisUSD as collateral.

   <figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2Fgeno2d42j52Jzd3m5jdHmLF7xQXdHKhzRQk582A2XByWsxp-iroj_FLNY2L0H4opMeI42X4RyiwR4a3RUSRpHbPijGLtOqROK5fEKBLHxvAd_QZ9KzzL2V5dCMEVlWT8bGtwbVX9seZzJSuoVqqWQhI&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=2e98dbc7&#x26;sv=1" alt=""><figcaption></figcaption></figure>
6. Approve, and confirm the transactions.<br>

   <figure><img src="https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FoQ0r0qx0hcErJo7kKrBeZcsrhC0ABzyOVzwqAO3Igg4EUnxrI1uztUtM37lYCvACy1jD_veZBFcH17NUfhS158euPniBPAT8kftB7Xp5tx6CaGAazvlwYDSMKKx65eXficPrYXyT2569dj7reuS9r8k&#x26;width=768&#x26;dpr=4&#x26;quality=100&#x26;sign=2c794a5d&#x26;sv=1" alt=""><figcaption></figcaption></figure>
7. Once the transaction has been confirmed, you are done!![](https://docs.bsc.lista.org/~gitbook/image?url=https%3A%2F%2Flh7-us.googleusercontent.com%2FlKpzHK5tjljRfwzAWruRJLxwSWjkNdRRvVoTUzdQ3s5Jp9I28x7B5ZV4W52aosTP-bXZoU9QpW6pJW-4Il02aJD4YDOVcio5k75RAtfKT4K8WMV7_66N_6-VNY_rk9vecQbpUZ1O55whsDHQF9FKkeU\&width=300\&dpr=4\&quality=100\&sign=69e48f0d\&sv=1)


# Audit Reports

All of Lista’s core smart contracts have been rigorously audited by reputable third-party security firms. These independent assessments ensure our protocol’s integrity and resilience against potential vulnerabilities.

**2024 - Present**

| Feature                                            | Audits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| -------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Lista Dao ClisBNBLaunch Pool Distributor Update    | [2026-08](https://github.com/lista-dao/lista-token/blob/master/audits/ListaDao_ClisBNBLaunchPoolDistributor_Update_Audit_Report_Final.pdf)                                                                                                                                                                                                                                                                                                                                                          |
| Liquidation Vault                                  | [HashDit · 2026-07](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-LiquidationVault-20260709.pdf)                                                                                                                                                                                                                                                                                                                                                                              |
| Lista Dao Market Factory Lista Revenue Distributor | [2026-07](https://github.com/lista-dao/moolah/blob/master/docs/audits/ListaDao-MarketFactory-ListaRevenueDistributor-Audit-Final-20260714.pdf) · [2026-07](https://github.com/lista-dao/lista-token/blob/master/audits/ListaDao-MarketFactory-ListaRevenueDistributor-Audit-Final-20260714.pdf)                                                                                                                                                                                                     |
| Moolah Vault EIP170                                | [HashDit · 2026-07](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-MoolahVault-EIP170-20260703.pdf)                                                                                                                                                                                                                                                                                                                                                                            |
| PreIPODistributor                                  | [HashDit · 2026-07](https://github.com/lista-dao/lista-token/blob/master/audits/HashDit-PreIPODistributor-20260727.pdf)                                                                                                                                                                                                                                                                                                                                                                             |
| Aster Rewards                                      | [HashDit · 2026-06](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/HashDit-AsterRewards-20260615.pdf)                                                                                                                                                                                                                                                                                                                                                                     |
| Collateral Yield Vault                             | [Bailsec · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-CollateralYieldVault-20260618.pdf) · [CertiK · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/CertiK-CollateralYieldVault-20260618.pdf) · [HashDit · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-CollateralYieldVault-20260618.pdf)                                                                                                                  |
| Fixed Term                                         | [Bailsec · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-FixedTerm-20260628.pdf)                                                                                                                                                                                                                                                                                                                                                                                     |
| listaOFTv2                                         | [HashDit · 2026-06](https://github.com/lista-dao/lista-token/blob/master/audits/HashDit-listaOFTv2-20260630.pdf)                                                                                                                                                                                                                                                                                                                                                                                    |
| Moolah Vault Manager                               | [2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/WarRoom-MoolahVaultManager-Audit-Report-20260608.pdf)                                                                                                                                                                                                                                                                                                                                                                         |
| slisXAUE                                           | [Bailsec · 2026-06](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/Bailsec-slisXAUE-Audit%20Report.pdf) · [CertiK · 2026-06](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/CertiK-slisXAUE-Audit%20Report.pdf)                                                                                                                                                                                                                                 |
| Yield Buffer                                       | [Bailsec · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-YieldBuffer-AuditReport-20260611.pdf) · [HashDit · 2026-06](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-YieldBuffer-AuditReport-20260611.pdf)                                                                                                                                                                                                                                       |
| Atlas Oracle Adaptor                               | [HashDit · 2026-05](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/hashdit_atlasOracleAdaptor_audit_report_final_22_may_2026.pdf)                                                                                                                                                                                                                                                                                                                                         |
| Fixed term lending                                 | [Bailsec · 2026-05](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-FixedTerm-20260511.pdf) · [Cantina · 2025-11](https://github.com/lista-dao/moolah/blob/master/docs/audits/Cantina_Fixed_Term_and_rate_12Nov2025.pdf) · [Bailsec · 2025-10](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec__Fixed_Term_and_rate_Oct2025.pdf)                                                                                                                            |
| Idle Market                                        | [HashDit · 2026-05](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-Idle-Market-20260526.pdf)                                                                                                                                                                                                                                                                                                                                                                                   |
| Lista Lending Broker Batch Ops                     | [HashDit · 2026-05](https://github.com/lista-dao/moolah/blob/master/docs/audits/HashDit-ListaLending-BrokerBatchOps-20260526.pdf)                                                                                                                                                                                                                                                                                                                                                                   |
| Lista V3 Differential                              | [Bailsec · 2026-05](https://github.com/lista-dao/lista-v3/blob/master/audits/260515-Bailsec-Lista-V3-Differential-Final-Report.pdf)                                                                                                                                                                                                                                                                                                                                                                 |
| Lista V3                                           | [Cantina · 2026-04](https://github.com/lista-dao/lista-v3/blob/master/audits/260430-Cantina-Lista-V3-Final-Report.pdf) · [HashDit · 2026-04](https://github.com/lista-dao/lista-v3/blob/master/audits/260430-HashDit-Lista-V3-Final-Report.pdf)                                                                                                                                                                                                                                                     |
| Position Manager                                   | [CertiK · 2026-04](https://github.com/lista-dao/moolah/blob/master/docs/audits/CertiK-REP-Lista-Dao-PositionManager-20260410.pdf) · [Cantina · 2026-04](https://github.com/lista-dao/moolah/blob/master/docs/audits/cantina_PositionManager_20260410.pdf)                                                                                                                                                                                                                                           |
| Credit liquidation                                 | [Bailsec · 2026-03](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-Credit-Liquidation-20260303.pdf) · [Spearbit · 2026-03](https://github.com/lista-dao/moolah/blob/master/docs/audits/Spearbit-Credit-Liquidation-20260303.pdf)                                                                                                                                                                                                                                               |
| Position Migrator                                  | [Bailsec · 2026-03](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-Position-Migrator-20260318.pdf) · [Cantina · 2026-03](https://github.com/lista-dao/moolah/blob/master/docs/audits/Cantina-Position-Migrator-20260318.pdf)                                                                                                                                                                                                                                                   |
| Credit loans                                       | [Cantina · 2026-02](https://github.com/lista-dao/moolah/blob/master/docs/audits/Cantina_Credit_loan_04Feb2026.pdf) · [Bailsec · 2026-01](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-Credit-Loan-Jan2026.pdf)                                                                                                                                                                                                                                                               |
| SlisBNBMinter                                      | [Bailsec · 2026-01](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-ListaLending-SlisBNBMinter-20260105.pdf) · [Bailsec · 2026-01](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-ListaLending-SmartPorvider-and-SlisBNBMinter-202601229.pdf)                                                                                                                                                                                                              |
| SlisBNBx Minter                                    | [BlockSec · 2025-11](https://github.com/lista-dao/moolah/blob/master/docs/audits/Blocksec-ListaLending-SlisBNBxMinter-AuditReport-20251101.pdf)                                                                                                                                                                                                                                                                                                                                                     |
| Smart lending                                      | [Bailsec · 2025-11](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-ListaLending-Smart-Collateral-and-Liquidators-20251124.pdf) · [OpenZeppelin · 2025-10](https://github.com/lista-dao/moolah/blob/master/docs/audits/OpenZeppelin-ListaLending-Smart-Collateral-20251020.pdf)                                                                                                                                                                                                 |
| PancakeSwap V3 LP                                  | [Bailsec · 2025-09](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Bailsec_V3_LP_20Sept_2025.pdf) · [BlockSec · 2025-09](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/BlockSec_V3_LP_04Sept_2025.pdf) · [CertiK · 2025-09](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/CertiK_V3_LP_04Sept_2025.pdf) · [Spearbit · 2025-09](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/SpearBit_V3_LP_01Sept_2025.pdf) |
| slisBNB instant withdraw                           | [Bailsec · 2025-09](https://github.com/lista-dao/synclub-contracts/blob/master/audit/Bailsec-slisBNB-instant-withdraw-Final-Report-20250923.pdf) · [BlockSec · 2025-09](https://github.com/lista-dao/synclub-contracts/blob/master/audit/Blocksec-slisBNB-instant-withdraw-Final-Report-20250923.pdf)                                                                                                                                                                                               |
| LISTA Lending Provider                             | [Bailsec · 2025-05](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-ListaLending-Provider-20250522.pdf) · [BlockSec · 2025-05](https://github.com/lista-dao/moolah/blob/master/docs/audits/Blocksec-ListaLending-Provider-20250522.pdf)                                                                                                                                                                                                                                         |
| ERC20 Token Provider                               | [CertiK · 2025-04](https://github.com/lista-dao/lista-token/blob/master/audits/certik-lp-mint-clisbnb-17apr25.pdf) · [BlockSec · 2025-04](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec-lp-mint-clisbnb-03apr25.pdf)                                                                                                                                                                                                                                                         |
| LISTA Lending                                      | [Bailsec · 2025-04](https://github.com/lista-dao/moolah/blob/master/docs/audits/Bailsec-ListaLending-AuditReport-20250410.pdf) · [BlockSec · 2025-04](https://github.com/lista-dao/moolah/blob/master/docs/audits/Blocksec-ListaLending-AuditReport-20250410.pdf)                                                                                                                                                                                                                                   |
| veLISTA                                            | [2024-07](https://github.com/lista-dao/lista-token/blob/master/audits/Lista-Dao_Lista-token_audit_report_2024-07-12.pdf) · [BlockSec](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec_velista_v2.0-signed.pdf)                                                                                                                                                                                                                                                                 |
| AMO                                                | [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/BlockSec_060824_AMO_DynamicDutyCalculator_v1.0-signed.pdf) · [Salus](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Salus_080824_AMO_DynamicDutyCalculator.pdf)                                                                                                                                                                                                                                 |
| BNB Liquid Staking                                 | [PeckShield](https://github.com/lista-dao/synclub-contracts/blob/master/audit/PeckShield-Audit-Report-ListaStakeManager-v1.0.pdf) · [BlockSec](https://github.com/lista-dao/synclub-contracts/blob/master/audit/blocksec_listastakeManager_v1.0-signed.pdf)                                                                                                                                                                                                                                         |
| Emission Voting & ClisBNB Launchpool Distributor   | [Salus](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/salus_emission_voting_211024.pdf) · [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/blocksec_emission_voting_211024.pdf)                                                                                                                                                                                                                                                                 |
| FlashBuy                                           | [Supremacy](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Supremacy-Audit-Report-ListaDAO_FlashBuy-v0.1.pdf) · [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/blocksec_lista_flashbuy_v1.0-signed.pdf)                                                                                                                                                                                                                                        |
| lisAster                                           | [Bailsec](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/Bailsec-lisAster-Audit-Report.pdf) · [Sherlock](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/Sherlock-lisAster-Audit-Report.pdf)                                                                                                                                                                                                                                                     |
| LISTA Airdrop                                      | [PeckShield](https://github.com/lista-dao/lista-token/blob/master/audits/PeckShield-Audit-Report-ListaAirdrop-v1.0.pdf) · [Supremacy](https://github.com/lista-dao/lista-token/blob/master/audits/Supremacy-Audit-Report-ListaDAO_Airdrop-v1.0.pdf)                                                                                                                                                                                                                                                 |
| LISTA Token                                        | [BlockSec](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec_ListaToken_v1.0-signed.pdf) · [Supremacy](https://github.com/lista-dao/lista-token/blob/master/audits/Supremacy-Audit-Report-ListaDAO_token-v1.0.pdf)                                                                                                                                                                                                                                                               |
| LP Staking                                         | [PeckShield](https://github.com/lista-dao/lista-token/blob/master/audits/PeckShield-Audit-Report-Restake-v1.0.pdf) · [Salus](https://github.com/lista-dao/lista-token/blob/master/audits/Salus-Audit-Report-Restake-v1.0.pdf)                                                                                                                                                                                                                                                                       |
| Multi-Oracles                                      | [PeckShield](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/PeckShield_300424.pdf)                                                                                                                                                                                                                                                                                                                                                                                             |
| OFT                                                | [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/BlockSec_OFT_190624.pdf) · [PeckShield](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/PeckShield_OFT_190624.pdf)                                                                                                                                                                                                                                                                               |
| PSM                                                | [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/blocksec_psm_241122.pdf) · [Salus](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/salus_PSM_241122.pdf)                                                                                                                                                                                                                                                                                         |
| RWA                                                | [Bailsec](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/Bailsec-RWA-Audit%20Report.pdf) · [BlockSec](https://github.com/lista-dao/lista-new-contracts/blob/master/docs/audits/BlockSec-RWA-Audit%20Report.pdf)                                                                                                                                                                                                                                                           |
| slisBNB Oracle                                     | [PeckShield](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/PeckShield_slisBNBOracle_180424.pdf)                                                                                                                                                                                                                                                                                                                                                                               |
| slisBNB Provider                                   | [Bailsec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Bailsec_SlisbnbProvider_Final_Report_241127.pdf) · [BlockSec](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/blocksec_lista_SlisbnbProvider-VotingIncentive_v1.0_signed_241127.pdf)                                                                                                                                                                                                              |
| slisBNB Provider & Voting Incentive                | [Bailsec](https://github.com/lista-dao/lista-token/blob/master/audits/Bailsec_lista_dao_SlisbnbProvided-VotingIncentive_final.pdf) · [BlockSec](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec_lista_SlisbnbProvided-VotingIncentive_v1.0_signed.pdf)                                                                                                                                                                                                                         |
| Token Emission                                     | [Salus](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/salus_lista_emission_v1.0.pdf) · [Salus](https://github.com/lista-dao/lista-token/blob/master/audits/salus_lista_emission_v1.0.pdf) · [BlockSec](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec_lista_emission_v1.0.pdf)                                                                                                                                                                          |
| USDT Staking to Pancake                            | [BlockSec](https://github.com/lista-dao/lista-token/blob/master/audits/blocksec_lista_usdtLpdistributor_v1.0-signed.pdf) · [Bailsec](https://github.com/lista-dao/lista-token/blob/master/audits/bailsec_lista_usdtLpdistributor_final_report.pdf)                                                                                                                                                                                                                                                  |

#### 2022 (CDP)

* [Veridise\_270622.pdf](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Veridise_270622.pdf)
* [SlowMist\_240522.pdf](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/SlowMist_240522.pdf)
* [SlowMist\_100522.pdf](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/SlowMist_100522.pdf)
* [PeckShield\_250522.pdf](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/PeckShield_250522.pdf)
* [Certik\_300522.pdf](https://github.com/lista-dao/lista-dao-contracts/blob/master/audits/Certik_300522.pdf)


# Bug Bounty (Immunefi)

Lista DAO partners with **Immunefi** — the leading bug bounty platform for blockchain security — to proactively identify and fix vulnerabilities. This program invites ethical hackers and security researchers to report critical issues in exchange for rewards, helping us maintain a secure and robust ecosystem.

💰 **Report a vulnerability or learn more about our active bug bounty program**

You can find our Immunefi bug bounty program and report any issues [here](https://immunefi.com/bug-bounty/listadao/).


# Lista Lending Risk Fund

## Lista DAO Risk Fund

**Risk Fund address: 0x618579671f4B5a96Ff6Ac3Fb66224df39Ce9d325**

## Overview

The Lista DAO Risk Fund is a dedicated reserve designed to enhance the security and resilience of the Lista Lending ecosystem.

By allocating 50% of the revenue generated from Lista DAO’s self created vaults under Lista Lending, the fund serves as a financial buffer to protect users against potential losses resulting from exploits or unforeseen incidents within Lista’s self-operated Vaults.

***Note: Vaults that are not managed/created by Lista DAO are NOT included in this benefit***

## Purpose of the Fund

The primary objective of the Lista DAO Risk Fund is to safeguard users by providing a mechanism to cover financial losses in the event of a security exploit or other critical incidents affecting Lista DAO’s Lending Vaults. Specifically, the fund is used to:

* **Compensate Users for Losses**: In the case of a verified exploit or blackswan events leading to users’ loss of funds within Lista DAO’s vaults, the fund will be utilized to repay affected users, ensuring fair and timely restitution.\
  \&#xNAN;*This includes Liquidation losses, bad debt and any other potential risks that may occur to the Vaults created by Lista DAO.*
* **Strengthen Protocol Resilience**: By maintaining a robust reserve, the fund mitigates systemic risks, enhancing the overall stability of the Lista Lending platform.

## Funding Mechanism

The Risk Fund is sustained through a consistent revenue allocation from Lista’s self-operated Vaults:

* Source: Half of the management fee charged on Lista’s self-operated Vaults is directed towards the Risk Fund.
* Fee Structure: The Vaults charge a total management fee of 10%, where half, which is 5%, is allocated to the Risk Fund.
* Frequency: Contributions to the fund are made continuously as management fees are collected, ensuring steady growth of the reserve.

This allocation strategy balances protocol profitability with user protection, leveraging Lista’s operational revenue to build a sustainable safety net.

## Management and Governance

The Risk Fund is centrally managed by the Lista DAO Foundation to ensure transparency, efficiency, and accountability:

* Oversight: The Lista DAO core team will be responsible for the fund’s administration, including its allocation and deployment.
* Usage Conditions: The fund is activated only in the event of a confirmed exploit or incident resulting in verifiable user losses. Clear criteria and processes for fund disbursement are established to ensure fair and equitable compensation.

## Operational Details

* Scope: The fund covers losses specifically related to exploits or security breaches within Lista’s self-operated Vaults. It does not extend to losses from market volatility, user errors, or external protocol risks.
* Disbursement Process: Upon confirmation of an exploit, the Lista DAO core team will assess the scope of losses, verify affected users, and execute repayments from the fund. The process prioritizes speed and fairness, with clear communication to the community.
* Fund Security: The fund’s assets are held in secure, multi-signature wallets managed by the Lista DAO Foundation, with strict access controls to prevent unauthorized use.

<br>


# Overview

<div align="center" data-full-width="true"><figure><img src="/files/XS1NzOSAVlVRzz69lHTQ" alt=""><figcaption></figcaption></figure></div>

### Lista Mechanism: Earning Rewards through Strategic Asset Utilization

In the Lista mechanism, users can strategically utilize their assets—such as BNB, ETH, slisBNB, wBETH, and BTCB—to earn various rewards. The process involves several key steps:

#### 1. **Deposit Assets into the Interaction (CDP) Module**

* Users start by depositing their assets into the Interaction (CDP) module, where these assets serve as collateral.
* By using this collateral, users can borrow **LisUSD**.

#### 2. **Borrow and Stake LisUSD**

* After borrowing LisUSD, users have the option to stake it in the **Jar Contract**.
* Both the staked amount and the borrowed LisUSD are tracked by the **ListaDistributor Contract** to calculate rewards.

#### 3. **Stake BNB for slisBNB and Earn Rewards**

* Users can stake BNB through the **Stake Manager** to receive **slisBNB**.
* slisBNB not only earns bi-weekly **LISTA token rewards** but can also be used as collateral to borrow more LisUSD, which can yield additional rewards.

#### 4. **Direct BNB Rewards**

* Users can also directly earn BNB rewards by staking BNB.

#### 5. **Lock LISTA Tokens in veLista for Additional Rewards**

* By locking LISTA tokens in the **veLista contract**, users are eligible to receive additional LISTA token rewards.

<br>


# Multi-Oracle

## **Intro of Resilient Oracle**

Previously, ListaDAO solely depended on the Atlas Oracle, ChainLink Price Feed, RedStone Oracle and API3 Oracle for price data. While this setup was mostly reliable, it presented a single point of failure. Without a backup verification system, incorrect or outdated prices could cause issues like unnecessary liquidations or inflated borrowing amounts.

To mitigate these risks, we have implemented the Resilient Price Oracle, a more advanced system that aggregates data from multiple sources for cross-verification. This new oracle uses an algorithm to compare and validate prices from different sources, ensuring greater accuracy and reliability. And collateral assets on ListaDAO are gradually transitioning to the Resilient Oracle solution.

Moreover, the upgraded oracle infrastructure allows for the real-time addition of new price oracles and offers the flexibility to activate or deactivate oracles for specific tokens as needed.

<figure><img src="/files/5ujycFqfnNs0MbQOUK7l" alt=""><figcaption></figcaption></figure>

## Collateral configuration

Collateral pricing configuration is split across two pages, all priced by the same Resilient Oracle described above:

* [Standard Collaterals](/for-developer/multi-oracle/multi-oracle-standard) — BNB Chain and Ethereum Chain collaterals.
* [bStock Collaterals](/for-developer/multi-oracle/multi-oracle-bstock) — tokenized-equity (bStock) collaterals.


# Standard Collaterals

Standard (non-bStock) collaterals on BNB Chain and Ethereum Chain, priced by the [Resilient Oracle](/for-developer/multi-oracle). Tokenized-equity collaterals are listed separately — see [bStock Collaterals](/for-developer/multi-oracle/multi-oracle-bstock).

## Configuration

**BNB Chain**

> Resilient Oracle Address: 0xf3afD82A4071f272F403dC176916141f44E6c750

<table data-full-width="true"><thead><tr><th>Asset</th><th>Token</th><th>Oracle/caller</th><th>Main oracle</th><th>Pivot oracle</th><th>Fallback oracle</th><th>BoundValidator</th></tr></thead><tbody><tr><td>BNB</td><td>0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c</td><td>0xf81748d12171de989a5bbf2d76bf10bfbbaec596</td><td>0x29d2fEC890B037B2d34f061F9a50f76F85ddBcAE<br>(RedStone OEV: BNB/USD)</td><td>0x8ED54A9Ea7870cBEB38a895B5D3069dE4AF7f742<br>(Atlas: BNB/USD)</td><td>0x0567F2323251f0Aab15c8dFb1967E4e8A7D42aeE<br>(ChainLink: BNB/USD)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>slisBNB(SnBNB) * Rate of slisBNB/BNB from <a href="https://bscscan.com/address/0x1adB950d8bB3dA4bE104211D5AB038628e477fE6#readProxyContract">StakeManager</a></td><td>0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B</td><td>0x8ecf78fb59e5a4c26cb218d34db29c4696af89f6</td><td>0x125BCeA7Ae8fF45083e513fAF4913a14bC1Dc1a3<br>BNB Price (From Resilient Oracle)<br>* Rate of slisBNB/BNB from <a href="https://bscscan.com/address/0x1adB950d8bB3dA4bE104211D5AB038628e477fE6#readProxyContract">StakeManager</a></td><td>-</td><td>-</td><td>-</td></tr><tr><td>BTCB</td><td>0x7130d2A12B9BCbFAe4f2634d864A1Ee1Ce3Ead9c</td><td>0x2eeDc4723b1ED2f24afCD9c0e3665061bD2D5642</td><td>0x264990fbd0A4796A3E3d8E37C4d5F87a3aCa5Ebf<br>(ChainLink)</td><td>0xC8373C0a18123e6a71bC226bd129F642D8095e98<br>(Atlas)</td><td>0xa51738d1937FFc553d5070f43300B385AA2D9F55<br>(RedStone)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>solvBTC</td><td>0x4aae823a6a0b376De6A78e74eCC5b079d38cBCf7</td><td>0xb7A753f3776282976c1f2b0bcB2fF0d13d48Af85</td><td>0x264990fbd0A4796A3E3d8E37C4d5F87a3aCa5Ebf<br>(ChainLink)</td><td>0xC8373C0a18123e6a71bC226bd129F642D8095e98<br>(Atlas)</td><td>0xa51738d1937FFc553d5070f43300B385AA2D9F55<br>(RedStone)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>LisUSD</td><td>0x0782b6d8c4551B9760e74c0545a9bCD90bdc41E5</td><td>0x873339A8214657175D9B128dDd57A2f2c23256FA (DynamicDutyCalculator)</td><td>0x989aF6aA3DB449e49F1B3210b8750446BED7c2c0</td><td>-</td><td>-</td><td>-</td></tr><tr><td>FDUSD</td><td>0xc5f0f7b66764F6ec8C8Dff7BA683102295E16409</td><td>0xCF95095394A4838a8ed3478FeCF332dDA978EcD3</td><td>0x390180e80058A8499930F0c13963AD3E0d86Bfc9<br>(ChainLink)</td><td>0x6e7B791896Aa196BD6Bfd227Cc59AFc7B510994e<br>(Atlas)</td><td>0x390180e80058A8499930F0c13963AD3E0d86Bfc9<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>USDT</td><td>0x55d398326f99059ff775485246999027b3197955</td><td>0xDF2d4C43F45AC225AbFdE4a92F9fF950F517AE63</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink)</td><td>0x4129238fBCeD420eb9bE6AD9aaa578fc87117358<br>(Atlas)</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ETH</td><td>0x2170Ed0880ac9A755fd29B2688956BD959F933F8</td><td>0x9945e33Be177b5FCcB90710FEe59C548Cac8ACbA</td><td>0x9ef1B8c0E4F7dc8bF5719Ea496883DC6401d5b2e<br>(ChainLink)</td><td>0x154D34A9e8165D1817b47994f3DC0F25249F28C2<br>(Atlas)</td><td>0x9ef1B8c0E4F7dc8bF5719Ea496883DC6401d5b2e<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>wstETH</td><td>0x26c5e01524d2E6280A48F2c50fF6De7e52E9611C</td><td>0xc9cA2376ae12e22dCb198EACb17E44168024DDd7</td><td>0x950620918C66b080990b18635F1D7d4F70D23FC5<br>(Custom Feed)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>xSolvBTC</td><td>0x1346b618dC92810EC74163e4c27004c921D446a5</td><td>0x0AD764098FF68b100d0976a8BCF2294B67669cAa</td><td>0x267CBE0e9c37D7ab6c9f61ef4065a0ce8dA0BC5E<br>(Custom Feed)</td><td>-</td><td>-</td><td>-</td></tr><tr><td><p>sUSDX</p><p>(*For CDP, oracle use USDT’s price)</p></td><td>0x7788A3538C5fc7F9c7C8A74EAC4c898fC8d87d92</td><td>0xF19dc2B8AcD55aa4e80583DE3943260FA3a26A72</td><td>0x1526249EF1501BB4207e1431c285FFc2e17C81C0<br>USDe Price(from Resilient Oracle) * exchange rate from <a href="https://bscscan.com/address/0x7788A3538C5fc7F9c7C8A74EAC4c898fC8d87d92#readContract#F8">sUSDX</a></td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>pumpBTC (BTCB * 0.99)</td><td>0xc6F28a668b7c18F921ccBA4adc3D8db72BFF0FE2</td><td>0x420a16F03e7F623556cCEe452d4cAaFE1fdDe28B</td><td>same with BTCB</td><td>same with BTCB</td><td>same with BTCB</td><td>same with BTCB</td></tr><tr><td>mBTC</td><td>0x88a596F8c8290F96d5742ae0905F912dd5291c27</td><td>0x31D558b899461D6Ea498C3c1664a150a19b87AAF</td><td>same with BTCB</td><td>same with BTCB</td><td>same with BTCB</td><td>same with BTCB</td></tr><tr><td>mCAKE</td><td>0x581FA684D0Ec11ccb46B1d92F1F24C8A3F95C0CA</td><td>0x01b39E969A76D2F7c9a8a81EcD1B2F7116b44E23</td><td>0xe2771302CFE70279aDE1734eD9Eb29ceE86AF627</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>mwBETH</td><td>0x7dC91cBD6CB5A3E6A95EED713Aa6bF1d987146c8</td><td>0xAa4912633e4e2F65604Fe7f6A6bA9Eb5EF6D50d0</td><td>0x7d690053cd6aEa60808303f54C63c6276D252c27</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>USDF</td><td>0x5A110fC00474038f6c02E89C707D638602EA44B5</td><td>0xa53A9a3e496F00bbe3f1247cac88Ea28C2b6B107</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink)</td><td>0x51676F4449dD93F7e554f9Ef1Aea93F5808e2381<br>(Atlas)</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>asUSDF</td><td>0x917AF46B3C3c6e1Bb7286B9F59637Fb7C65851Fb</td><td>0x53C7024411E5d12C0B17D412943C3Dd5939a2Fb1</td><td>0xD5342FF1ae0621be72c11eCb620a5Cec0Aa60042<br>USDF Price(from Resilient Oracle) *<br>exchange rate from <a href="https://bscscan.com/address/0xdB57a53C428a9faFcbFefFB6dd80d0f427543695">asUSDFEarn</a></td><td>-</td><td>-</td><td>-</td></tr><tr><td>USD1</td><td>0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d</td><td>-</td><td>0x6E64923A9C1dC94E2B746C5DC58abEbd2d2E0b56<br>(Custom Feed)</td><td>0xaD8b4e59A7f25B68945fAf0f3a3EAF027832FFB0<br>(ChainLink)</td><td>0x6E64923A9C1dC94E2B746C5DC58abEbd2d2E0b56<br>(Custom Feed)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>asBNB</td><td>0x77734e70b6E88b4d82fE632a168EDf6e700912b6</td><td>-</td><td>0xA13542f7e49e9852E5c333bEAF8617C4CB00704D<br>slisBNB Price (from Resilient Oracle) * exchange rate from <a href="https://bscscan.com/address/0x2F31ab8950c50080E77999fa456372f276952fD8">asBnbMinter</a></td><td>-</td><td>-</td><td>-</td></tr><tr><td>USDe</td><td>0x5d3a1Ff2b6BAb83b63cd9AD0787074081a52ef34</td><td>-</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink: USDT/USD)</td><td>0xa19F9B06751fd480ab66D08A7b429dA205979c37<br>(Atlas)</td><td>0xB97Ad0E74fa7d920791E90258A6E2085088b4320<br>(ChainLink: USDT/USD)</td><td>-</td></tr><tr><td>sUSDe</td><td>0x211Cc4DD073734dA055fbF44a2b4667d5E5fE5d2</td><td>-</td><td>0x1B7CCb0e6061d3A3BadA5D97EeDD252e39fA6d9B<br>USDe Price (from Resilient Oracle) * exchange rate from <a href="https://bscscan.com/address/0x1a269eA1b209DA2c12bDCDab22635C9e6C5028B2">ChainLink</a></td><td>-</td><td>-</td><td>-</td></tr><tr><td>USDX</td><td>0xf3527ef8dE265eAa3716FB312c12847bFBA66Cef</td><td>-</td><td>0x7A4C41F4479f42DC5EbE4aCA94b12501E6626d2d<br>(Custom Feed)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>USR</td><td>0x2492D0006411Af6C8bbb1c8afc1B0197350a79e9</td><td>-</td><td>0xE8ed18E29402CD223bC5B73D30e40CCdf7b72986</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>Puffer</td><td>0x87d00066cf131ff54b72b134a217d5401e5392b6</td><td>-</td><td>0x2F8AF2DaADB2FFCd0d8cbC3d7095BD84D0B815A1<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AGT</td><td>0x5dBde81fcE337FF4bcaaEe4Ca3466C00aeCaE274</td><td>-</td><td>0xa67e252BAd49C057307AD0A42032833f60304034</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>FHE</td><td>0xd55C9fB62E176a8Eb6968f32958FeFDD0962727E</td><td>-</td><td>0x38c7ED667Cb0fF163F06cb6Ef8b9c6EDc4b4a521</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>BANK</td><td>0x3AeE7602b612de36088F3ffEd8c8f10E86EbF2bF</td><td>-</td><td>0xab52Cb57F9a419fa7EA32511495D14b782Af8caf</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AB</td><td>0x95034f653d5d161890836ad2b6b8cc49d14e029a</td><td>-</td><td>0x36A9D9cb76F3bADb2F8741645Efd38AA77330005<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>B</td><td>0x6bdcce4a559076e37755a78ce0c06214e59e4444</td><td>-</td><td>0x8fb31931580C102ce7ab97C70c10a0658eC2D55D<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>B2</td><td>0x783c3f003f172c6Ac5AC700218a357d2D66Ee2a2</td><td>-</td><td>0x8d28cEf7df45b722F57b1659C169591309B4Ae19<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ANKR</td><td>0xf307910A4c7bbc79691fD374889b36d8531B08e3</td><td>-</td><td>0x095989a71792CcF2AE5f34401fdEdE71461dca8B<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SPA</td><td>0x1A9Fd6eC3144Da3Dd6Ea13Ec1C25C58423a379b1</td><td>-</td><td>0xE479a45F15A8c86EF4B9be6D77d73b3aa31EA18F<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SolvBTC.DLP</td><td>0x647A50540F5a1058B206f5a3eB17f56f29127F53</td><td>-</td><td>0x264990fbd0A4796A3E3d8E37C4d5F87a3aCa5Ebf</td><td>0x83968bCa5874D11e02fD80444cDDB431a1DbEc0f</td><td>0xa51738d1937FFc553d5070f43300B385AA2D9F55</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>wBETH</td><td>0xa2E3356610840701BDf5611a53974510Ae27E2e1</td><td>0x6F3Da9Ee8965Ef22228A103Df4719a74B7384584</td><td>0xEb3ac57D6aF35519db62Bd150BEF7388f892f5A6<br>ETH Price(from Resilient Oracle) *<br>exchange rate from <a href="https://bscscan.com/address/0xa2E3356610840701BDf5611a53974510Ae27E2e1">wBETH</a></td><td>-</td><td>-</td><td>-</td></tr><tr><td>OIK</td><td>0xB035723D62e0e2ea7499D76355c9D560f13ba404</td><td>-</td><td>0x48E911B499378af5dc0Ce98CbDB3c037018eE676<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>EGL1</td><td>0xf4B385849f2e817E92bffBfB9AEb48F950Ff4444</td><td>-</td><td>0x512Ef1446315b97dEa0BC7060a07E3c7274a2760<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Aster</td><td>0x000Ae314E2A2172a039B26378814C252734f556A</td><td>-</td><td>0xEb898A24EDC78d666B8f5e989E6D23864C302cDE<br>(Atlas)</td><td>0x3ae518be05e3F7faBf7e3Ace22Af795D7A09c2E5<br>(ChainLink)</td><td>0x3ae518be05e3F7faBf7e3Ace22Af795D7A09c2E5<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>WLFI</td><td>0x47474747477b199288bF72a1D702f7Fe0Fb1DEeA</td><td>-</td><td>0x0Cd947b80C40E1bd152f8822120Fd92dDEce609c<br>(Atlas)</td><td>0xD3F669EF5C364C14d353F46b1D1a048A846e00f1<br>(ChainLink)</td><td>0xD3F669EF5C364C14d353F46b1D1a048A846e00f1<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>wstUSR</td><td>0x4254813524695def4163A169e901f3d7a1a55429</td><td>-</td><td>0x5439ec87E111B1ac0aE676dbF561CD66164722C8<br>(custom feed: exchange rate from RedStone)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>yUSD</td><td>0x4772D2e014F9fC3a820C444e3313968e9a5C8121</td><td>-</td><td>0xaaFf27ce7D8247d2D7725cdf5e590F72cA6d3365<br>(Custom: fixed yUSD price)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>XRP</td><td>0x1D2F0da169ceB9fC7B3144628dB156f3F6c60dBE</td><td>-</td><td>0x93A67D414896A280bF8FFB3b389fE3686E014fda<br>(ChainLink)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>mXRP</td><td>0xc8739fbBd54C587a2ad43b50CbcC30ae34FE9e34</td><td>-</td><td>0x0999cA2e63fBB2923bc4c3853b37e371B33F84bF<br>(Custom Feed: XRP(ChainLink) * mXRP/XRP from Midas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>Take</td><td>0xE747E54783Ba3F77a8E5251a3cBA19EBe9C0E197</td><td>-</td><td>0x2279C24Ac1d8e3e689A8d172a5c1807ebeb9C81E<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>wsrUSD</td><td>0x4809010926aec940b550D34a46A52739f996D75D</td><td>-</td><td>0xfee2C5aD734e64c8a63105187A5B465C3176A46f<br>Custom Feed: using wsrUSD/RUSD (ChainLink) * USDT price</td><td>-</td><td>-</td><td>-</td></tr><tr><td>CDL</td><td>0x84575b87395c970F1F48E87d87a8dB36Ed653716</td><td>-</td><td>0x85D45428f7E63954e631db6f37E43E46E4580dDd<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>sUSD1+</td><td>0x4F2760B32720F013E900DC92F65480137391199b</td><td>-</td><td>0x54e8810CDDe88f531485D2f04321a28e7DB380B3<br>(Custom Feed: sUSD1+/USD1(ChainLink) * USD1 from Resilient Oracle)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>AT</td><td>0x9be61A38725b265BC3eb7Bfdf17AfDFc9d26C130</td><td>-</td><td>0x73A73D53e44CE7CD389F4737679b94fD85e07F53<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>U</td><td>0xcE24439F2D9C6a2289F741120FE202248B666666</td><td>-</td><td>0x6E64923A9C1dC94E2B746C5DC58abEbd2d2E0b56<br>(Custom Feed)</td><td>0xaD8b4e59A7f25B68945fAf0f3a3EAF027832FFB0<br>(ChainLink)</td><td>0x6E64923A9C1dC94E2B746C5DC58abEbd2d2E0b56<br>(Custom Feed)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ALABB</td><td>0x1282493EdE6a22753D45Cb2C0fdBd8D35E97555a</td><td>-</td><td>0x9803E67a53B93BA761dDC4D46d6c483378FCF396<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ASMLB</td><td>0xFbfB4f79cFB4C34DCd7C82Bdee5A0Fa199B2e7f9</td><td>-</td><td>0xF48D95C8964e5D012dD19909e39B6F65643e6238<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ASTSB</td><td>0x58b6F5fEeb8436489F5bf4a56619092B1FA8E777</td><td>-</td><td>0x0c481091453Eb0afFF4277966D9F66299a012AC1<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>BMNRB</td><td>0x3548Da95a9eFFE481e8604664d75e95821e557F5</td><td>-</td><td>0xdfC97CfF8ecd92CE88c2Ab3ddE70094732198d45<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>COHRB</td><td>0x5131859a059B2446AbeeFe0f5d313b3c54Ff3D36</td><td>-</td><td>0x415aCB98dEc0360e7f09e84CdCAC078a15BCCede<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>CRDOB</td><td>0x6E7D451F9D30327D32020f116Fa79C23B24E9c8D</td><td>-</td><td>0x6f11e61c257c0976C355697D60339659A989C98a<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>IRENB</td><td>0xfdc2F2caB77b28f7Ef6c819A404706cfA9bCA33b</td><td>-</td><td>0x828D8367e113633eE656167B49949a7512Bd1D4a<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>NFLXB</td><td>0xD6829Ea836b6FA224d099D40E54B31262f874631</td><td>-</td><td>0x61c445C54FcF0C8e7063D52B6c85cCa15796D29c<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SMCIB</td><td>0x387dEa1D2772D716d081A29116f3EfFA0fFE1F36</td><td>-</td><td>0x5624828ECadB52ed2bbe2235F62973Afd38ecB93<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>USARB</td><td>0xcd345D4450e04cDeF422A60b97D9265d24e0bcEE</td><td>-</td><td>0xA4d8b2EFD696637BaB2B060F7bbEfF5F672FDECe<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>GMEB</td><td>0x46cEeFDa28Dd7207059ed19B0acdc026955bb15C</td><td>-</td><td>0x898AfbdFC6283b78C87662B9718825d151BbBeEA<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr></tbody></table>

**Ethereum Chain**

> Resilient Oracle Address: 0xA64FE284EB8279B9b63946DD51813b0116099301

<table data-full-width="true"><thead><tr><th>Asset</th><th>Token</th><th>Oracle/caller</th><th>Main oracle</th><th>Pivot oracle</th><th>Fallback oracle</th><th>BoundValidator</th></tr></thead><tbody><tr><td>wsETH</td><td>0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0</td><td>-</td><td>0x36B0AE9841C68dB46D8435760680134089ce166d<br>(Custom Feed)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>ETH</td><td>0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2</td><td>-</td><td>0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419<br>(ChainLink)</td><td>0x67F6838e58859d612E4ddF04dA396d6DABB66Dc4<br>(RedStone)</td><td>0x5f4eC3Df9cbd43714FE2740f5E3616155c5b8419<br>(ChainLink)</td><td>-</td></tr><tr><td>cbBTC</td><td>0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf</td><td>-</td><td>0xb41E773f507F7a7EA890b1afB7d2b660c30C8B0A<br>(ChainLink)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>WBTC</td><td>0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599</td><td>-</td><td>0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c<br>(ChainLink)</td><td>0xAB7f623fb2F6fea6601D4350FA0E2290663C28Fc<br>(RedStone)</td><td>0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>USDe</td><td>0x4c9EDD5852cd905f086C759E8383e09bff1E68B3</td><td>-</td><td>0xa569d910839Ae8865Da8F8e70FfFb0cBA869F961<br>(ChainLink)</td><td>0xbC5FBcf58CeAEa19D523aBc76515b9AEFb5cfd58<br>(RedStone)</td><td>0xa569d910839Ae8865Da8F8e70FfFb0cBA869F961<br>(ChainLink)</td><td>-</td></tr><tr><td>USD1</td><td>0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d</td><td>-</td><td>0x8B35291ecF29fD36BA405A03C9832725f2E9e164<br>(Custom Feed)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>USDT</td><td>0xdAC17F958D2ee523a2206206994597C13D831ec7</td><td>-</td><td>0x3E7d1eAB13ad0104d2750B8863b489D65364e32D<br>(ChainLink)</td><td>0x02E1F8d15762047b7a87BA0E5d94B9a0c5b54Ed2<br>(RedStone)</td><td>0x3E7d1eAB13ad0104d2750B8863b489D65364e32D<br>(ChainLink)</td><td>-</td></tr><tr><td>USDC</td><td>0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48</td><td>-</td><td>0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6<br>(ChainLink)</td><td>0xeeF31c7d9F2E82e8A497b140cc60cc082Be4b94e<br>(RedStone)</td><td>0x8fFfFfd4AfB6115b954Bd326cbe7B4BA576818f6<br>(ChainLink)</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr></tbody></table>


# bStock Collaterals

bStock are tokenized-equity collaterals on Lista. They are priced by the same Resilient Oracle as every other collateral — see [Multi-Oracle](/for-developer/multi-oracle) for how the Resilient Oracle aggregates and cross-verifies price sources.

Every bStock listed below uses the Atlas Oracle as its main price source. Pivot oracle, fallback oracle and BoundValidator bounds vary per asset.

## Configuration

**BNB Chain**

> Resilient Oracle Address: 0xf3afD82A4071f272F403dC176916141f44E6c750

<table data-full-width="true"><thead><tr><th>Asset</th><th>Token</th><th>Oracle/caller</th><th>Main oracle</th><th>Pivot oracle</th><th>Fallback oracle</th><th>BoundValidator</th></tr></thead><tbody><tr><td>TSLAB (bStock)</td><td>0x5b1910eAaD6450E50f816082Aa078C41F10C292f</td><td>-</td><td>0xf569C3e52e797219eCFDc1659c3250B0BbDC693C<br>(Atlas)</td><td>0xe1bc21701Bc8FFa39DaecDb8f58263C1d5e1c0bc<br>(APRO)</td><td>0xf569C3e52e797219eCFDc1659c3250B0BbDC693C<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>MUB (bStock)</td><td>0xcdf2f3e0fa43C47A6662a91C9E4a7C5f69762699</td><td>-</td><td>0xf0c2791042E73a601550493c6C7b9DEafbdedCD3<br>(Atlas)</td><td>0x9bDd29A3e175855d3DaD239F15fc7bFe1Fd70095<br>(APRO)</td><td>0xf0c2791042E73a601550493c6C7b9DEafbdedCD3<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>NVDAB (bStock)</td><td>0x02Fca66C1D1aFB4E2A7884261eB00F63598a7436</td><td>-</td><td>0x2bd759006b423BFF444181A13C96a6b134E557BB<br>(Atlas)</td><td>0x310EFC9Fefe89B8085F89E91Ac782Bef6416499E<br>(APRO)</td><td>0x2bd759006b423BFF444181A13C96a6b134E557BB<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>SNDKB (bStock)</td><td>0x3eE4dF61bd4F867E349BEaE8bFE07bc31b4850fb</td><td>-</td><td>0x1C5211723f67A77DAaDb62DDc6D68Ee23e724c0f<br>(Atlas)</td><td>0xDCDa13B927F7d7641470a0d3173709d69443A361<br>(APRO)</td><td>0x1C5211723f67A77DAaDb62DDc6D68Ee23e724c0f<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>CRCLB (bStock)</td><td>0x80f3D493EBCe97e343c53D29a137942416B4ffC0</td><td>-</td><td>0x15c493e3C31080784cd2067369c1fAea9EA35302<br>(Atlas)</td><td>0x48e6876A8CDa6cf8db2089128cF20a18e58089D2<br>(APRO)</td><td>0x15c493e3C31080784cd2067369c1fAea9EA35302<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>SPCXB (bStock)</td><td>0xbe9D156892E55e7154BcD3cB0FEA677F9D3103E1</td><td>-</td><td>0xdf8b61796436eD39F406623aa2166a7f185185Cb<br>(Atlas)</td><td>0x44c4173459121690613Bc22C110c4f0624254f3E<br>(APRO)</td><td>0xdf8b61796436eD39F406623aa2166a7f185185Cb<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>MSFTB(bStock)</td><td>0x80106CB3ead06659A5ad19dF39d9b4733863b9b0</td><td>-</td><td>0x56E1c317EF6F029a8327686F4b9736877f621122<br>(Atlas)</td><td>0xBC92F296c48E31409eD4DbD638F1fbe0ee5A3724<br>(APRO)</td><td>0x56E1c317EF6F029a8327686F4b9736877f621122<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>METAB(bStock)</td><td>0x7425889FE94F9D693e8dAefe88BcCED6AcFEf4c0</td><td>-</td><td>0x1374144bc616f36bD21833367476BE6E4a05883B<br>(Atlas)</td><td>0x32Fd1E5E20b091Df7286EE8C69937C4A8D619885<br>(APRO)</td><td>0x1374144bc616f36bD21833367476BE6E4a05883B<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>PLTRB(bStock)</td><td>0x0CA5D51d0277Bd006Fd9607d3E560785EBAd8222</td><td>-</td><td>0xB110f34756d25af2E5e24f21F8D3Adf3a49Ac973<br>(Atlas)</td><td>0xBb0535d8C1B1adB790beD2d9b84d4Dbc78fdD902<br>(APRO)</td><td>0xB110f34756d25af2E5e24f21F8D3Adf3a49Ac973<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>LITEB(bStock)</td><td>0x64748bea17b6d19E242aDF20425De2440C656142</td><td>-</td><td>0xf2D884F459aa8e9b0ba973E8fD242590c8079306<br>(Atlas)</td><td>0x0fa60412153Edc1A051F7056EFCD0F1b95064eEe<br>(APRO)</td><td>0xf2D884F459aa8e9b0ba973E8fD242590c8079306<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>QQQB(bStock)</td><td>0x205812CdBED920AfF76C6580Abd681a46d11Efc7</td><td>-</td><td>0xA94918f11c9e7703426CCD494A4a999924942DDD<br>(Atlas)</td><td>0x2708567c468db65a72095716FCff023dcDfEA07A<br>(APRO)</td><td>0xA94918f11c9e7703426CCD494A4a999924942DDD<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>CBRSB(bStock)</td><td>0xe81C6bB0266cd68B4F17278531Dd03eA1F12dA4E</td><td>-</td><td>0x096273fbF632969DE11c3f5F20dacA0B4872eC3F<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>COINB(bStock)</td><td>0x585BDE7C54ABB5cCD7791F923D6c2187635f3952</td><td>-</td><td>0xda04cb5e91ee844eEdFdD35224fa9dC5d1376F4B<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>DRAMB(bStock)</td><td>0x93862d63fd9Fd488B1328E9b47717d75e994a84B</td><td>-</td><td>0x07Bc7907061F5fB4a89162Ba3Ef4ed30a363454e<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>GLWB(bStock)</td><td>0x740e075cBbEa22a082B9d6679e65e82767875b6A</td><td>-</td><td>0x2154D72b79198080cD382b32dd10e58e75CFd0E2<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>GOOGLB(bStock)</td><td>0x3F53De71c126BdaBAe20f9cD64848d317f6C3238</td><td>-</td><td>0x9A47A6560E224a26F663675D5c76888A26cac6C3<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>NBISB(bStock)</td><td>0xE256BC2A4F5297F8ba6f043F180a46300eCbCbB1</td><td>-</td><td>0xBD545a22ECa414f099fb77f8f4Bd13388636a492<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>QCOMB(bStock)</td><td>0x5F7A56e877B9130608Bf8BE962621011182fEfE1</td><td>-</td><td>0xe779Ad1523Bb24c112baa568C778782084116ECA<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>SOXLB(bStock)</td><td>0xd97d097a89113fa59b76c572E5b2Eb647E8eefaf</td><td>-</td><td>0xB1DAe0d87Cb971C9388bB5B8df940F0Dde01Cce2<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>SPYB(bStock)</td><td>0x7138b48df7D98D7e3cc221BfE7192D0a178182D8</td><td>-</td><td>0x464b16fDc9d677cFdc6680Fdf687D59ba52B1631<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>WDCB(bStock)</td><td>0xebe29695F8047C13d36e7a790ca8c1b239FfAD1C</td><td>-</td><td>0xDab275cf3917B2e61aeA72001CD67AB0541fFAec<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>SKHYB(bStock)</td><td>0xCA750eF65f295BBECd685Abf54e82CAf297BDB61</td><td>-</td><td>0x6233E8FBCCBCcB1a3029dB7E420782D1B09510a1<br>(Atlas)</td><td>0x2446DCeDd294EDB5d90Ee16Fa32Da56Bc2973ACd<br>(APRO)</td><td>0x6233E8FBCCBCcB1a3029dB7E420782D1B09510a1<br>(Atlas)</td><td><p>Upper Limit: 1.02</p><p>Lower Limit: 0.98</p></td></tr><tr><td>AAOIB(bStock)</td><td>0x10343EF7da3301493D7Ecb647d68A288C6c1Db2F</td><td>-</td><td>0xB330d3Ae6278B326d4a58020881CDf76E434b3Be<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>ARMB(bStock)</td><td>0xD42A79ebb7F527F40fAecD196FFB47aD5e8D6f8C</td><td>-</td><td>0x1a9ECb2748f90ABe157E9173C2Df82132F77a0Af<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>AVGOB(bStock)</td><td>0x76682c454467b3A1150Ad8b6a92FC5eE2C21d7eD</td><td>-</td><td>0xa6808AC7549E594454bCc014C3E0dd59792DEB14<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>BABAB(bStock)</td><td>0x4eF9d3062c7F6ebA4AAE4990c5036598C6eff4ec</td><td>-</td><td>0xec5dCeb0980cD10C994d586FF6c8D9E097Dca710<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>HOODB(bStock)</td><td>0xA394dCEa3fd3847fD793afBFd163E2e3858B7c65</td><td>-</td><td>0x0C75aba6107e34e47516665BaB97bbc3e2D98200<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>IBMB(bStock)</td><td>0xfA273B076Feb8c0FB34e554ae341082323D016A3</td><td>-</td><td>0xe4735F32B7C09356a5642EdFdB5Bf58E9bBf4C2F<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>MRVLB(bStock)</td><td>0x16cd4fe7e8880ECc3ba222795229E20489fc2C76</td><td>-</td><td>0x87a70c523C1f2f03659C8Be76fe2615875ac1Bbd<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>NOKB(bStock)</td><td>0x7c4d7a180D737Dd5A70d8065a90E6746a69C37EA</td><td>-</td><td>0x1bE3F8b2902000f046ff735B5b7E5997F7d84189<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>RKLBB(bStock)</td><td>0xC8Da12cbCCE7c45180692a6420b0076e03a5179a</td><td>-</td><td>0x748c64d895282e4c70bc10d5d84ef3239003Cdb6<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>TSMB(bStock)</td><td>0xAB78b89B5bb00236Be0B4B20704cBfa04EfC711c</td><td>-</td><td>0x5F9b84A39Cb97ddA92f11740b9052EEA05b85B29<br>(Atlas)</td><td>-</td><td>-</td><td>-</td></tr><tr><td>KORUB(bStock)</td><td>0x1FFAD32d69c5FEAd99f88C25ca0191Edc3757636</td><td>-</td><td>0x19bfb7930Ad64e815dbB599cBc73F0325e9A04a7<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AXTIB(bStock)</td><td>0x9BDC8B470dbf89DbCb123587C6f5E49cCA3463BE</td><td>-</td><td>0x609bBE0a12F30b69B696A2D9a3A039B1cd740b46<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>CRWVB(bStock)</td><td>0x33E7317e17838fEE56b10Fe8D0B9cA6CA3090c95</td><td>-</td><td>0x4dc0e442D8dc28470B80f5A7dbFdA43960C1eE23<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>MUUB(bStock)</td><td>0x0bB3fA77E0809f42948E435F04883C25415e8263</td><td>-</td><td>0x52A5c74c149810e8C8edf0c0E596515a471CaF59<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>MVLLB(bStock)</td><td>0x7C26a12f20507E2ceE22CeEBed9e88FDA47f866c</td><td>-</td><td>0x51364CdCdA7Dd86F4c5619E1A1092E3Ea6b61262<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SNXXB(bStock)</td><td>0x9e82e3da8f1115B73d24bB24113ab836FfDAb6b6</td><td>-</td><td>0x9fa6Cb21Ba82d67aD16a28a405Ae4276aDc2d1c1<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>INTWB(bStock)</td><td>0x0735D9904b7e34e6fe39B0f66E00c111b3f2b681</td><td>-</td><td>0xa8EBCA2F567124E1E2047Fee5A99008DaC7150B1<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>TQQQB(bStock)</td><td>0x462B5F13B7C7748279358962925c5De83BB9E598</td><td>-</td><td>0x8aF814BC8ad759cb8FaeEEd9fE195D9A2084716e<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>QNTB(bStock)</td><td>0xd721c192d612Db77621DF57A9fAb38418033c02E</td><td>-</td><td>0x68D537F546f70cC16f4Ae7E442C48b971604Bb8d<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>ORCLB(bStock)</td><td>0x4684D9887fC1c71cBa7baB8E88835CEC217eB598</td><td>-</td><td>0xE7A7C567ed3de7d1EdA785B2AB673549a3E226D2<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AAPLB(bStock)</td><td>0x431a3BEE82E2ca41e49895CbECE5bB0F76A89b7A</td><td>-</td><td>0x5AfB6E8B04A63e6075620397520399ca9ffE7C05<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AMATB(bStock)</td><td>0xa304BD78e739C0F777202B3eB73Ac3736d1df801</td><td>-</td><td>0x2fC3076d917d14e82832d6DDAaeA0588D716F67a<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>AMZNB(bStock)</td><td>0x1a4b499833A79A09ad7Cf1D42D7DacF71e92eb00</td><td>-</td><td>0xB5fE0C3FC0954Ed63F7ADA680B964399E251FEdE<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>BEB(bStock)</td><td>0x5519de00F5388c17d886b97Cb5D2D43a812a82bC</td><td>-</td><td>0xD8Bf0B3512A80d2B41E3fA7430a45EB4D8B56bBd<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>DELLB(bStock)</td><td>0x0e7A51966c66648999d506e1372EFDeA1B78cb0B</td><td>-</td><td>0x619dad44a55183ae22eD1543F20f657c81d0A693<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>FLNCB(bStock)</td><td>0x4af1D41cd9dD950dcA43984b43aaA2A8702714Ac</td><td>-</td><td>0x28Ed1268feC7c08026D277D9594B748AF4404Eef<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>GSB(bStock)</td><td>0x20CCe6656E5F7F79f280E2D0F5dB55b401BDbfCe</td><td>-</td><td>0x170079E40c2A45a069bBe0FC5d0D4A3762BEbcae<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>PYPLB(bStock)</td><td>0x2806a561fC1F9259B2d54A281796Bde0D92762aE</td><td>-</td><td>0x77aa93c042022876A255AD92b51c02feA6eB8C97<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SMHB(bStock)</td><td>0xBE1fceD7047fdCE935F45700727845df2c76877a</td><td>-</td><td>0x63dF0580AB9C93C54524bE9d4072A318f3c70b41<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr><tr><td>SOXSB(bStock)</td><td>0xE28Cd11C99AF2df76bb8aDA4Cd0ef3904378280F</td><td>-</td><td>0x50A6A0f8b0F40139720e47bc9019ff23bF20d692<br>(Atlas)</td><td>-</td><td>-</td><td><p>Upper Limit: 1.01</p><p>Lower Limit: 0.99</p></td></tr></tbody></table>


# LISTA Governance


# Smart Contract

## Main

<table><thead><tr><th width="289">Name</th><th>Contract Address</th></tr></thead><tbody><tr><td>veLista</td><td><a href="https://bscscan.com/address/0xd0C380D31DB43CD291E2bbE2Da2fD6dc877b87b3">0xd0C380D31DB43CD291E2bbE2Da2fD6dc877b87b3</a></td></tr><tr><td>veListaDistributor</td><td><a href="https://bscscan.com/address/0x45aAc046Bc656991c52cf25E783c6942425ce40C">0x45aAc046Bc656991c52cf25E783c6942425ce40C</a></td></tr><tr><td>LISTA</td><td><a href="https://bscscan.com/address/0xFceB31A79F71AC9CBDCF853519c1b12D379EdC46">0xFceB31A79F71AC9CBDCF853519c1b12D379EdC46</a></td></tr><tr><td>Lista Airdrop</td><td><a href="https://bscscan.com/address/0x2ed866Ca9C33bf695C78af222d61Bd4D9cB558d3">0x2ed866Ca9C33bf695C78af222d61Bd4D9cB558d3</a></td></tr><tr><td>ListaVault</td><td><a href="https://bscscan.com/address/0x307d13267f360f78005f476fa913f8848f30292a">0x307d13267f360f78005f476Fa913F8848F30292A</a></td></tr><tr><td>OracleCenter</td><td><a href="https://bscscan.com/address/0x946a68b29149f819FBcE866cED3632e0C9F7C53b">0x946a68b29149f819FBcE866cED3632e0C9F7C53b</a></td></tr><tr><td>BorrowLisUSDListaDistributor</td><td><a href="https://bscscan.com/address/0x0aed860ca496600f6976219cb1acec435d7f4f3b">0x0AED860cA496600F6976219Cb1acEc435d7F4f3B</a></td></tr><tr><td>StakeLisUSDListaDistributor</td><td><a href="https://bscscan.com/address/0xFeB28443692216f66D14C7be4a449a765E2BDbAc">0xFeB28443692216f66D14C7be4a449a765E2BDbAc</a></td></tr><tr><td>EmissionVoting</td><td><a href="https://bscscan.com/address/0xfc136f286805a7922d9bf04317068964b231336c#code">0xfc136f286805a7922d9bf04317068964b231336c</a></td></tr><tr><td>VeListaRevenueDistributor</td><td><a href="https://bscscan.com/address/0xE4153Eb04417bE05b8d6B2222E4Cdd8AE674ee76">0xE4153Eb04417bE05b8d6B2222E4Cdd8AE674ee76</a></td></tr><tr><td>VeListaInterestRebater</td><td><a href="https://bscscan.com/address/0xda1E93d58CCCC9683f9Cb051cAEC5CF2F01B3253">0xda1E93d58CCCC9683f9Cb051cAEC5CF2F01B3253</a></td></tr></tbody></table>

## LP Staking

### 1. ERC20Distributor

| Name                            | Address                                    |
| ------------------------------- | ------------------------------------------ |
| Pancake Stable pool lisUSD/USDT | 0xe8f4644637f127aFf11F9492F41269eB5e8b8dD2 |
| Thena slisBNB/BNB correlated    | 0xFf5ed1E64aCA62c822B178FFa5C36B40c112Eb00 |
| Thena lisUSD/FRAX stable        | 0x1Cf9c6D475CdcA67942d41B0a34BD9cB9D336C4d |
| Thena lisUSD/USDT cl stable     | 0xC23d348f9cC86dDB059ec798e87E7F76FBC077C1 |
| Thena lisUSD/frxETH narrow      | 0x9B4FcbC3a01378B85d81DEFbaf9359155718be4a |
| Thena lisUSD/frxETH wide        | 0x11bf1122871e13c13466681022C74B496B59147a |
| Thena lisUSD/BNB narrow         | 0x39D099F6A78c7Cef7a527f55c921E7e1EE39716a |
| Thena lisUSD/BNB wide           | 0x9f6C251C3122207Adf561714C1171534B569eFf4 |
| Thena lisUSD/BNB ichi           | 0xF6aB5cfdB46357f37b0190b793fB199D62Dcf504 |
| Thena LISTA/USDT narrow         | 0x4b2D67Bf25245783Fc4C33a48962775437F9159c |

### 2. CollateralDistributor

| Name        | Address                                    |
| ----------- | ------------------------------------------ |
| BNB         | 0x83F861165bc61Af54caB4BE9a96C2b92e3a2AE5b |
| slisBNB     | 0x77c9b49a58325131D08F9dC120388f20c57c2572 |
| ETH         | 0xfF6F8ca13Db1beC5Becfaf208B1D3c942B63f955 |
| wBETH       | 0x0Bfb1BD05E13B7757C26c839d9c385c8C8d8dAD1 |
| wstETH      | 0xf0Fc2DeD2F7dD1bfDad4008A9e0CD0248408e956 |
| BTCB        | 0x6C5285Cb6C660Bc08CF175f632131b06b213fc5E |
| USDT        | 0x1716Ac5A34B46bc736f6f5C2D58661d5FBb47c73 |
| FDUSD       | 0x01a6Fcc74852088c72862C12C54f992720Eb8281 |
| STONE       | 0xF09Fef5E373C969E4631F139A91531c257E22889 |
| solvBTC     | 0x3C161234622caF322e4f5363d46187EB3F010eb0 |
| solvBTC.BBN | 0xc4A8A6c81f79dc6218319CE68138E743b8EDd830 |
| sUSDX       | 0x56627826504E2CbDd7213e38089c2a4E6327204C |
| pumpBTC     | 0xE3221bC1084EFB5D43Cf94CD8DE6B32Cf37fEB85 |
| mBTC        | 0xE61f4386608578199471747E4654Ae450adEE39A |
| mCAKE       | 0xB1da312097C7CBf9b49ef9d29D21a0646d9A5aF4 |
| mwBETH      | 0xE786eC5b4838410C24e5C1c75633d7C59705d6be |
| USDF        | 0xF53330104B4943bBf6e3f366FE11270183f93A46 |
| asUSDF      | 0xD60316C4FAB1fB2eb18Fc5B72eCf982aDb04e579 |

### 3. BorrowListaDistributor

| Name        | Address                                    |
| ----------- | ------------------------------------------ |
| BNB         | 0x564fa71EABe7683af701d32f34421Ecc118b1eBb |
| slisBNB     | 0x419352db842B7F6F33DBF541d23938cfFC181d1a |
| ETH         | 0x88620F85Ba52a186314471D8eef7F6FCFec4A2E6 |
| wBETH       | 0xc952Cc3d981Baad5d4D041721e1e179e42E6E2D5 |
| wstETH      | 0x73538cCe62901BD374BA314AcefC6c49EbDA0093 |
| BTCB        | 0xcB8f70FbC3cEcAFf9a5D53236DCb4Ef76BCcd2d6 |
| USDT        | 0x7247ddB894C4dc6BE9ea7328fcfEf0a07e20F59d |
| FDUSD       | 0x98a3fF86aF8107aBB40A706340b485e0B3E84c54 |
| STONE       | 0x7AD627aEb610d3f82466d8f9e1b9A6E1c916Da80 |
| solvBTC     | 0x5dEBc8917EF4f614B0998dDD8dE7DD421fADe245 |
| solvBTC.BBN | 0xa97aed02F9Cd1D59186B3883e23eFE9f5E347900 |
| sUSDX       | 0x46c5721dd7275BA19010a4f0e8FEBfdf6595Be54 |
| pumpBTC     | 0x58FE0f18507DD331ddF91Db9c111536d2a5c725A |
| mBTC        | 0x982d1DB2D643Ff4f497D5A4F566A565376eCF70C |
| mCAKE       | 0xa3BCE2dEf1823A551A407b14572C54D2aDB0Fd45 |
| mwBETH      | 0xF8d1D8a862eA77Bf4f826BF6612bFf0d0883eafa |
| USDF        | 0x5F43C6a44E314f09173C2a517bEE8db9304c30F1 |
| asUSDF      | 0x031a6F543449D5FBf9C3e77F907043f7BE7c1461 |

### 4. Staking And Vault

| Name           | Address                                    |
| -------------- | ------------------------------------------ |
| PancakeStaking | 0xE31f0BcE1F825A8e27f2Cc30B54af19DA2978f10 |
| ThenaStaking   | 0xFA5B482882F9e025facCcE558c2F72c6c50AC719 |
| PancakeVault   | 0x62DfeC5C9518fE2e0ba483833d1BAD94ecF68153 |
| ThenaVault     | 0xF40D0d497966fe198765877484FFf08c2D2004ad |
| LpProxy        | 0x5A0E3291514F5F1797A0C7eFefdac81eeC70ec01 |


# Collateral Debt Position


# Mechanics

In the Lista mechanism, users can earn rewards by strategically utilizing their assets, which may include BNB, ETH, slisBNB, wBETH, and BTCB. The process begins with users depositing these assets into the Interaction (CDP) module, where they are used as collateral to borrow LisUSD.<br>

In addition to depositing assets and borrowing LisUSD, users can earn rewards by staking LisUSD and BNB within the Lista ecosystem. By participating in these staking activities, they accrue interest and additional rewards, significantly enhancing their overall earnings.

<br>

### Fees

1. Borrowing interest — an interest paid to Lista for borrowing lisUSD. The rate is a fixed number set by the Lista governance platform.
2. Liquidation penalty — percentage subtracted in the form of lisUSD when selling user's collateral in a Dutch action during the liquidation process.

### Collateral ratio

Collateral ratio is a percentage of the user's collateral value that determines the maximum borrowing limit for the user; it is calculated as follows: (total amount of lisUSD minted / total value of the collateral \* 100). Different assets will have different collateral ratios, depending on asset volatility. Collateral ratio is used as a liquidation bar to decide when a liquidation event should happen.

<br>

### CDP Module

The following sections will introduce the functions of the CDP Module one by one, explaining how users can borrow LisUSD by providing collateral and the interactions between different involved contracts.

<br>

**a. Deposit Collateral**

<figure><img src="/files/hQgIB35gg0QV9WroPoTg" alt=""><figcaption></figcaption></figure>

1. User Deposits Collateral: The user initiates the deposit process by transferring their collateral to the Interaction contract.
2. Interaction: It moves the collateral to the GemJoin (like a Treasury).
3. GemJoin: receives the collateral from Interaction.
4. Vat: The Vat contract, which is the core of the CDP engine. It records the user’s collateral information and ensures that the collateral enters the system.

<br>

This process ensures that the user’s collateral is securely deposited and recorded within the CDP Module, allowing them to proceed with borrowing LisUSD against their collateral.

<br>

**b. Borrow LisUSD**

<figure><img src="/files/eCwNXFDW4e5GPIYvMd51" alt=""><figcaption></figcaption></figure>

1. User Initiates Borrowing: The user requests to borrow a specific amount of LisUSD against their deposited collateral by calling borrow().
2. Interaction: This request is processed by the Interaction, which then communicates with Vat. The user also pays interest during the process, the interest rate is a fixed number set by the Lista governance platform.
3. Vat: records an increase in the user's debt corresponding to the borrowed LisUSD against the specific collateral.
4. HayJoin: Interaction calls the \`exit()\` to mint the specified amount of LisUSD and sends it to the user.
5. ListaDistributor: Interaction calls ListaDistributor contract’s snapshot method to record user’s debt value against the collateral for calculating and distributing future rewards to the user.

<br>

This sequence ensures that the user's debt is accurately recorded, the borrowed LisUSD is successfully minted and transferred to the user, and interest payments are made according to the fixed rate determined by Lista governance.

<br>

**c. Payback LisUSD**

<figure><img src="/files/O7EdFuJ6hRaaJQjUY24f" alt=""><figcaption></figcaption></figure>

1. User Initiates Payback: The user initiates the payback process by specifying the amount of LisUSD to be repaid against the specific collateral.
2. Interaction: This payback request is processed by the Interaction
3. Vat: It updates the user’s debt, reducing it by the amount of LisUSD repaid. If the user fully repays their debt, the CDP (Collateralized Debt Position) is closed
4. HayJoin: Interaction calls the \`join()\` method, which burns LisUSD from the user’s account
5. ListaDistributor: Interaction calls ListaDistributor contract’s snapshot method to record user’s debt value against the collateral for calculating and distributing future rewards to the user.

<br>

This process ensures that the user’s debt is accurately reduced or cleared, and the corresponding amount of LisUSD is burned, effectively removing it from circulation.

<br>

**d. Withdraw Collateral**<br>

<figure><img src="/files/M0zs8MmyLqJk4Ge4yDsB" alt=""><figcaption></figcaption></figure>

1. User Initiates Withdrawal: The user initiates the withdrawal process by specifying the amount of collateral they wish to withdraw.
2. Interaction: The withdrawal request is processed by the Interaction contract. Please note that if the user has borrowed LisUSD and has not yet paid it back, the amount of collateral they can withdraw is less than the original deposit amount, as some collateral must remain to secure the outstanding debt.
3. GemJoin: Interaction calls the \`exit()\` method, which transfers the specified amount of collateral from GemJoin back to the user.
4. Vat: It records the user's collateral information, updating the system to reflect that the collateral has left the system

<br>

This process ensures that the user's collateral is accurately withdrawn and returned, while the system records the change in collateral status.

<br>

**e. Stake LisUSD**

<figure><img src="/files/3wv0Kuqmjvcmsfk6ZaXg" alt=""><figcaption></figcaption></figure>

<br>

1. User Initiates Staking: The user calls the \`join()\` method to stake a specified amount of LisUSD. This amount of LisUSD is then transferred to the Jar contract.
2. Jar: The Jar contract records the following information:
   1. The user’s staked LisUSD balance.
   2. Increase the total amount of LisUSD staked by all users.
   3. The time when the user staked the LisUSD.
3. ListaDistributor: ListaDistributor takes a snapshot of the user’s balance from the Jar. it will be used for calculating and distributing future rewards to the user.

<br>

**f. Unstake LisUSD**

<figure><img src="/files/NaZTFZYlYFSz5lhfCd3j" alt=""><figcaption></figcaption></figure>

1. User Initiates Unstaking: The user calls the \`exit()\` method to unstake a specified amount of LisUSD.
2. Jar: This amount of LisUSD, plus any rewarded amount, is transferred back to the user. It also records the following information:
   1. The user’s staked LisUSD balance is reduced by the unstaked amount X.
   2. The total staked amount of LisUSD is reduced by the unstaked amount X.
   3. A record of the withdrawal is saved.
3. ListaDistributor: The ListaDistributor takes a snapshot of the user’s balance and records the user's staked LisUSD balance for future reward calculations.

<br>

This process user will only interact with the Jar contract, it is responsible for managing and distributing interest to the participants of who stakes LisUSD.

<br>

**g. Liquidation**

<figure><img src="/files/8AkWxtUJ8JxJSCsCojsE" alt=""><figcaption></figcaption></figure>

The flowchart shows how an auction is being kick started.

**g.1 How an auction get started**

Determine Price and Ratio:

* Price of 1 unit of collateral: $2
* Collateral ratio: 66%
* Collateral price based on collateral ratio: 2∗0.66=$1.322

User Deposit and Borrow Limit:

* Assume User deposits 10 units of collateral: 10∗2=$20
* Borrow limit: 20∗0.66=$13.2
* Assume User borrows $13.2 of lisUSD: 13.2 lisUSD

Monitor Collateral Price Decrease:

* Assume the price of 1 unit of collateral decreases to: $1.8
* Collateral unit price with safety margin: 1.8∗0.66=$1.188
* Current worth of collateral with safety margin: 1.188∗10=$11.88
* Determine liquidation status:
  * 13.2−11.88=$1.32 (positive difference indicates liquidation)

Liquidation Auction Preparation:

* Amount of collateral that goes to Dutch auction: 10 units
* Liquidation penalty (fixed by Lista governance): 13% of the debt
* Debt to cover in the auction: 13.2∗1.13=$14.916
* Buffer (percentage similar to liquidation penalty, fixed by Lista governance): 2%
* Starting auction price (top): 1.8∗1.02=$1.836

Trigger Auction:

* Somebody triggers the auction and gets a tip + chip as a reward (details described later).

<br>

**g.2 Buy from Auction**

<figure><img src="/files/hdggZnouLNWe8Yj08Hrw" alt=""><figcaption></figcaption></figure>

The flowchart shows how the user buys collateral from an auction.

<br>

Example:

Auction Start and Price Decrease:

* Auction starts, and the price gradually decreases.
* Liquidator can participate to buy a customized amount of liquidated collateral.
* Linear decrease of price (subject to disruption by specific conditions):
  * Formula: $$f(x) = x \* e^{2 pi i \xi x}$$
  * Example: 1.836∗((3600-600)/3600)=$1.53

Conditions to Pause Auction:

* The auction can pause because of one of two conditions:
  * Tail (specific amount of time elapsed, fixed by Lista governance)
  * Cusp (% of price drop; 40% start auction price, fixed by Lista governance)
* Once either requirement is met, the auction will be restarted.

<br>

**g.3 Restart Auction**

Wait until someone restarts the auction. The restarter gets a tip + chip as a reward.

* Tip (flat fee, fixed by Lista governance): 5 lisUSD
* Chip (dynamic fee, fixed by Lista governance): 0 lisUSD


# Flash Loan

Flash Loans are uncollateralized loans that allow the user to borrow lisUSD as long as the borrowed amount (and a fee) is returned before the end of the transaction.

{% hint style="warning" %}
To use Flash Loans and get profit from them, you need a good understanding of BNB Chain (and Smart Chain), programming, and smart contracts.
{% endhint %}

### Application of Flash Loans

There are various applications of Flash Loans.

An obvious example is arbitrage between assets, where the user can flash-loan lisUSD to purchase BNB in a Dutch auction that happens during somebody's [Lista loan liquidation](https://docs.helio.money/protocol/loan-liquidation), immediately swap lisUSD for another asset on a DEX, then immediately swap the obtained asset for lisUSD on another DEX where the asset's ratio is higher, and repay Lista the flash loan + interest, keeping the difference — all within one loan transaction.

### Involved entities

1. flashLender — Lista smart contract implementing the "server side" of the flash loans functionality.
2. flashBorrower — the smart contract implementing the "client side", which EOA can copy, modify, and deploy to interact through with flashLender. A stub example of the smart contract is available later on this page.
3. EOA (Externally Owned Account) — an account that interacts with the copy of flashBorrower they deploy. Effectively, EOA is a developer who copies flashBorrower, modifies, and deploys it on BSC to interact with flashLender through.

flashLender can be used to borrow (mint) and repay (burn) [Lista destablecoins](https://github.com/lista-dao/lista-dao-contracts/blob/master/contracts/hay.sol), with a fee, in one transaction. EOA needs to interact with their own deployed copy of flashBorrower, which in turn interacts with flashLender.

### Flash Loan Fee

To get the fee, call the `flashFee(address token, uint256 amount)` function that returns the fee amount in 18 Decimals.

### Code example

flashLender — [flash.sol](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/flash.sol)

flashBorrower — [flashBorrower.sol](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/mock/flashBorrower.sol)

### Step-by-step

#### 1. Set up your flashBorrower contract

Your contract must conform to the [ERC3156FlashBorrower ](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/interfaces/IERC3156FlashBorrower.sol)interface by implementing the `onFlashLoan()` function.

To interact with flashLender, your contract must implement *`flashBorrow(token, amount)`* and *`onFlashLoan(initiator, token, amount, fee, data)`*, which is a callback function called during the execution of *`flashLoan()`.*

Implement any custom logic within *`onFlashLoan()`.*

Here's an example stub contract you can look through to better understand how to implement flashBorrower.

```
pragma solidity ^0.8.10;

import "@openzeppelin/contracts/token/ERC20/IERC20.sol";
import "../interfaces/IERC3156FlashBorrower.sol";
import "../interfaces/IERC3156FlashLender.sol";

contract FlashBorrower is IERC3156FlashBorrower {
    enum Action {NORMAL, OTHER}

    IERC3156FlashLender lender;

    constructor (IERC3156FlashLender lender_) {
        lender = lender_;
    }

    /// @dev ERC-3156 Flash loan callback
    function onFlashLoan(
        address initiator,
        address token,
        uint256 amount,
        uint256 fee,
        bytes calldata data
    ) external override returns(bytes32) {
        require(
            msg.sender == address(lender),
            "FlashBorrower: Untrusted lender"
        );
        require(
            initiator == address(this),
            "FlashBorrower: Untrusted loan initiator"
        );
        (Action action) = abi.decode(data, (Action));
        if (action == Action.NORMAL) {
            // do one thing
        } else if (action == Action.OTHER) {
            // do another
        }
        return keccak256("ERC3156FlashBorrower.onFlashLoan");
    }

    /// @dev Initiate a flash loan
    function flashBorrow(
        address token,
        uint256 amount
    ) public {
        bytes memory data = abi.encode(Action.NORMAL);
        uint256 _allowance = IERC20(token).allowance(address(this), address(lender));
        uint256 _fee = lender.flashFee(token, amount);
        uint256 _repayment = amount + _fee;
        IERC20(token).approve(address(lender), _allowance + _repayment);
        lender.flashLoan(this, token, amount, data);
    }
}
```

{% hint style="info" %}

* The flashBorrower must implement the [IERC3156FlashBorrower](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/interfaces/IERC3156FlashBorrower.sol), and [onFlashLoan()](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/interfaces/IERC3156FlashBorrower.sol#L30) must return the [CALLBACK\_SUCCESS](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/flash.sol#L108) hash.
  {% endhint %}

#### 2. Understand how to interact with flashLender

Understand the parameters used in flashLender:

1. `CALLBACK_SUCCESS` — Hash of custom string, returned on success.
2. `token` (address) — address of the BNB ERC-20 token that EOA flash-loans.
3. `amount` (uint256) — amount of the flash loan.
4. `receiver` (IERC3156FlashBorrower) — address of the flashBorrowed deployed by the EOA.
5. `data` (bytes calldata) — rudimentary non-used parameter left not to change the `flashLoan()` signature.

Understand the functions you want to interact with:

1. `maxFlashLoan(address token)` — returns “max” if *token* is supported destablecoin.
2. `flashFee(address token, uint256 amount)` — applies “toll” on *amount* and returns if *token* is a supported destablecoin.
3. `flashLoan(IERC3156FlashBorrower receiver, address token, uint256 amount, bytes calldata data)` — mints *token `amount`* to *`receiver`* with extra *data* (if any), and expects a return equal to `CALLBACK_SUCCESS`.
4. `function accrue()` — sends the surplus fee to *vow\.sol*.

If you're curious, understand the MakerDao parameters/constants used in the [flash.sol](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/flash.sol).

1. `vat` — Address of vat.sol.
2. `hayJoin` — Address of hayJoin.sol.
3. `hay` — Address of hay.sol.
4. `vow` — Address of vow\.sol.
5. `max` — Maximum allowed borrowable amount.
6. `toll` — Fee on return of loan.
7. `WAD` — 18 Decimals.
8. `RAY` — 27 Decimals.
9. `RAD` — 45 Decimals.
10. `CALLBACK_SUCCESS` — Hash of custom string, returned on success.

{% hint style="info" %}
For a deeper understanding of the MakerDao contract, such as var, hay, vow, etc, start with the [vat docs](https://docs.makerdao.com/smart-contract-modules/core-module/vat-detailed-documentation) and proceed to other smart contracts documented there.
{% endhint %}

#### 3. Interact with flashLender

flashLender is available by the following addresses:

* Testnet — coming soon
* Mainnet — [0x64d94e715B6c03A5D8ebc6B2144fcef278EC6aAa](https://bscscan.com/address/0x64d94e715B6c03A5D8ebc6B2144fcef278EC6aAa)

A typical interaction follows this workflow:

1. An EOA calls *`flashBorrow(token, amount)`* on a borrowing contract *flashBorrower.sol*.
2. *flashBorrower* approves *flashLender* in advance to repay the loan with a fee. Then it calls the *`flashLoan(receiver, token, amount, data)`* function on *flashLender* which mints a specified amount to the *flashBorrower*.
3. The same function *flashLoan(receiver, token, amount, data)* then calls (CALLBACK) the the *`onFlashLoan(initiator, token, amount, fee, data)`* function on the *flashBorrower*, which implements the custom logic of whatever the EOA wants to do with the borrowed lisUSD, then *`onFlashLoan()`* returns the KECCAK256 of “`ERC3156FlashBorrower.onFlashLoan`" if its execution was successful. The custom logic is thought-up and implemented completely by the EOA.
4. flashLender then burns the minted loan and stores the fee as surplus.

{% hint style="info" %}

* The flashBorrower must implement the [I](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/interfaces/IERC3156FlashBorrower.sol), and [onFlashLoan()](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/interfaces/IERC3156FlashBorrower.sol#L30) must return the [CALLBACK\_SUCCESS](https://github.com/helio-money/helio-smart-contracts/blob/master/contracts/flash.sol#L108) hash.
  {% endhint %}

### Close-to-life usage example

Look into [the tests ](https://github.com/helio-money/helio-smart-contracts/blob/master/test/flash.test.js)to find a close-to-life usage example.


# Smart Contract

#### Click on the name to navigate to the contract address

<table data-view="cards"><thead><tr><th></th></tr></thead><tbody><tr><td><a href="https://bscscan.com/address/0xc1359eD77E6B0CBF9a8130a4C28FBbB87B9501b7">ABACI</a></td></tr><tr><td><a href="https://bscscan.com/address/0xbaf8b40a1e2a7b842289778c1c509b6bede3cc03">ABACI (CLASSIC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2dcFb02CE33955b6Cc0aF34033189DE3ac4C0292">CLIP</a></td></tr><tr><td><a href="https://bscscan.com/address/0xd57E7b53a1572d27A04d9c1De2c4D423f1926d0B">DOG</a></td></tr><tr><td><a href="https://bscscan.com/address/0x4C798F81de7736620Cd8e6510158b1fE758e22F7">HayJoin</a></td></tr><tr><td><a href="https://bscscan.com/address/0xfA14F330711A2774eC438856BBCf2c9013c2a6a4">ceaBNBcJoin</a></td></tr><tr><td><a href="https://bscscan.com/address/0x0a1Fd12F73432928C190CAF0810b3B767A59717e">JAR</a></td></tr><tr><td><a href="https://bscscan.com/address/0x787BdEaa29A253e40feB35026c3d05C18CbCA7B3">JUG</a></td></tr><tr><td><a href="https://bscscan.com/address/0x0782b6d8c4551B9760e74c0545a9bCD90bdc41E5">lisUSD</a></td></tr><tr><td><a href="https://bscscan.com/address/0x49bc2c4E5B035341b7d92Da4e6B267F7426F3038">SPOT</a></td></tr><tr><td><a href="https://bscscan.com/address/0x33A34eAB3ee892D40420507B820347b1cA2201c4">VAT</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2078A1969Ea581D618FDBEa2C0Dc13Fc15CB9fa7">VOW</a></td></tr><tr><td><a href="https://bscscan.com/address/0xe66395EbA979968e574984268979C49a57EB59Ee">HelioRewards</a></td></tr><tr><td><a href="https://bscscan.com/address/0xa835F890Fcde7679e7F7711aBfd515d2A267Ed0B">HelioProvider</a></td></tr><tr><td><a href="https://bscscan.com/address/0xA186D2363E5048D129E0a35E2fddDe767d4dada8">cerosRouter</a></td></tr><tr><td><a href="https://bscscan.com/address/0x563282106A5B0538f8673c787B3A16D3Cc1DbF1a">CeToken</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf81748d12171De989A5Bbf2d76bf10BFbBaEC596">ceaBNBcOracle</a></td></tr><tr><td><a href="https://bscscan.com/address/0x986b40c2618ff295a49ac442c5ec40febb26cc54">MasterVault</a></td></tr><tr><td><a href="https://bscscan.com/address/0xB68443Ee3e828baD1526b3e0Bdf2Dfc6b1975ec4">Interaction</a></td></tr><tr><td><a href="https://bscscan.com/address/0x272d6589cecc19165cfcd0466f73a648cb1ea700">AuctionProxy</a></td></tr><tr><td><a href="https://bscscan.com/address/0x4b30fcAA7945fE9fDEFD2895aae539ba102Ed6F6">slisBNBx</a></td></tr><tr><td><a href="https://bscscan.com/address/0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B">slisBNB</a></td></tr><tr><td><a href="https://bscscan.com/address/0x91e49983598685dd5acac90ceb4061a772f6e5ae">GemJoin(slisBNB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xba92899ea8bebb717cfc60507251acbb79a3b959">clipCE(slisBNB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x8ecf78fb59e5a4c26cb218d34db29c4696af89f6">Oracle(slisBNB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x6c813d1d114d0cabf3f82f9e910bc29fe7f96451">CeToken(cewBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xA230805C28121cc97B348f8209c79BEBEa3839C0">CeETHVault</a></td></tr><tr><td><a href="https://bscscan.com/address/0x0326c157bfF399e25dd684613aEF26DBb40D3BA4">HelioETHProvider</a></td></tr><tr><td><a href="https://bscscan.com/address/0x620e897d529EfECa41E57d0344eBB24f75864D1E">clisETH</a></td></tr><tr><td><a href="https://bscscan.com/address/0xA0cD5EAfa37EBA1d04Fb003512f962f2f73C3e86">CerosETHRouter</a></td></tr><tr><td><a href="https://bscscan.com/address/0x5aEfa6309e8Da3eaBd32745aD5B2c9C1EBE54bef">GemJoin(ethJoin)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xdF9cf824D1822Ab61aFAf5c97353682F6df0a8d5">Clipper(clipEthCE)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x9945e33be177b5fccb90710fee59c548cac8acba">EthOracle</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf45c3b619ee86f653805e007fe211b7e930e0b3b">GemJoin(wBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x96b64bfcdbe658f2792322ac7a9d2dc215eba48f">clipCE(wBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x25787055964a8d2a0de4387d6ec9ebc0dc139dd5">Oracle(wBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xad9eAAe95617c39019aCC42301a1dCa4ea5b6f65">GemJoin(BTCB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xb12fF6FD1885a9Cb2b26302c98092644604B1e92">Clipper(BTCB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2eeDc4723b1ED2f24afCD9c0e3665061bD2D5642">Oracle(BTCB)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xd7E33948e2a43e7C1ec2F19937bf5bf8BbF9BaE8">GemJoin(ezETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x5784e62b4495c7Cc4B09CcD3f206Cc7128449CE0">Clipper(ezETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xE859f3f6EE5532313C33A02283150E201290F45F">Oracle(ezETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2367f2Da6fd39De6944218CC9EC706BCdc9a6918">GemJoin(weETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xF21B35EdF7A927799b80F09C395C460C3d31D057">Clipper(weETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xE514851E324B54f152F7D9631ACe1A0a87248b46">Oracle(weETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x876cd9a380Ee7712129b52f8293F6f06056c3104">GemJoin(Stone)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x5AaBBBe154C0AFA072e313d46b29592936493b26">Clipper(Stone)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xDF5A8e190CF63D74a4Ec743253fA26D4C7539Be8">Oracle(Stone)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf3afD82A4071f272F403dC176916141f44E6c750">ResilientOracle</a></td></tr><tr><td><a href="https://bscscan.com/address/0x837CB07f6B8a98731856092457524FF37b25E7B3">ListaOFTAdapter</a></td></tr><tr><td><a href="https://etherscan.io/address/0xf9B24C9364457Ea85792179D285855753549eBAa">ListaOFT</a></td></tr><tr><td><a href="https://bscscan.com/address/0xA94AA72e033b39AD7CD448f38Bc1eda5B52f7079">GemJoin(solvBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf920018fc69515102b915a543DFEfbC837c3F9e6">Clipper(solvBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xb7A753f3776282976c1f2b0bcB2fF0d13d48Af85">Oracle(solvBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x157c9a692ee99C39272856055957083a928cE299">GemJoin(BBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x4192fF5f1feFCcBC446702117A48Ac25Fd1723B3">Clipper(BBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2Ea16e082cA50eB6017BBFCB967CC7c6E2b8fB5A">Oracle(BBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf8Ca8D2B59A97125751af1069d4a5C4F7eB7A677">GemJoin(wstETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x4Fd4b7eC5fAF57d94C37379E11a02b2D47368ac3">Clipper(wstETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xc9cA2376ae12e22dCb198EACb17E44168024DDd7">Oracle(wstETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xAd406CcF75f9E6216fA4349635B0cD77D0059b1f">GemJoin(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf6dAdF1210F7C22aD5bCba84b23cFd424a30313C">Clipper(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xDF2d4C43F45AC225AbFdE4a92F9fF950F517AE63">Oracle(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x2202a491752Fee0E616F06A89E2eF416E2Fcd7e9">GemJoin(FDUSD)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xFe288198707d65e84390b59a844705d5C989525E">Clipper(FDUSD)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xCF95095394A4838a8ed3478FeCF332dDA978EcD3">Oracle(FDUSD)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x81a62B329CC8939494d8613F614171a9955A46e8">ClisBNBLaunchPoolDistributor</a></td></tr><tr><td><a href="https://bscscan.com/address/0x03DB750d6212C6a0BCa9258E8cB7cf46dfD63067">GemJoin(SolvBTC.BBN)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xEB995ff652da728E7B0EBC31Ab543c39e054b1eA">Clipper(SolvBTC.BBN)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x0AD764098FF68b100d0976a8BCF2294B67669cAa">Oracle(SolvBTC.BBN)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xaa57F36DD5Ef2aC471863ec46277f976f272eC0c">PSM(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x5763DDeB60c82684F3D0098aEa5076C0Da972ec7">VaultManager(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf76D9cFD08dF91491680313B1A5b44307129CDa9">VenusAdapter(USDT)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x37DB1AE9B24055D1F9fE973Aea40B7EB2995D0Bf">LisUSDPoolSet</a></td></tr><tr><td><a href="https://bscscan.com/address/0x66dE07893Db7492B56bA88503B4cC99bAb1796F3">EarnPool</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf2fA32498305E6595e3D54Dc41674d0FcA207026">USDT Distributor</a></td></tr><tr><td><a href="https://bscscan.com/address/0xfD31e1C5e5571f8E7FE318f80888C1e6da97819b">slisBNBProvider</a></td></tr><tr><td><a href="https://bscscan.com/address/0x98b167359566c1ea05335D52794C7Eb6f8E6739a">GemJoin(sUSDX)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xAf71337d151408401cC3A971e0a05C6D2790e08e">Clipper(sUSDX)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xF19dc2B8AcD55aa4e80583DE3943260FA3a26A72">Oracle(sUSDX)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xEA44dDC58eC6b4902E19A353c554B6A4F32b9e6E">pumpBTCProvider</a></td></tr><tr><td><a href="https://bscscan.com/address/0xdCFE50533faB1271E13a973260C2454e0412007E">GemJoin(pumpBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x6dc0abfdAd33f01E847e45BcC9e0acb9dD119B5A">Clipper(pumpBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x420a16F03e7F623556cCEe452d4cAaFE1fdDe28B">pumpBTCOracle</a></td></tr><tr><td><a href="https://bscscan.com/address/0x9eb77a54a33069a319d91f493e6b1c9066fb38f7">USDTLpListaDistributor</a></td></tr><tr><td><a href="https://bscscan.com/address/0xE3221bC1084EFB5D43Cf94CD8DE6B32Cf37fEB85">CollateralListaDistributor(cePumpBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x88a596F8c8290F96d5742ae0905F912dd5291c27">clismBTC</a></td></tr><tr><td><a href="https://bscscan.com/address/0x4510aa2b3efd13bBFD78C9BfdE764F224ecc7f50">cemBTC</a></td></tr><tr><td><a href="https://bscscan.com/address/0x8A016f1896dC2939fFDbB60f6E42bCc245e2bB0b">mBTCProvider</a></td></tr><tr><td><a href="https://bscscan.com/address/0x3F3e0A03A9E123e5861044d436862dFA1468CC10">gemJoin(cemBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x334e4F80cC2985D0F8196Cc562DD8aedDdA1b704">clipper(cemBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x31D558b899461D6Ea498C3c1664a150a19b87AAF">oracle(cemBTC)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x605356cc9f725e6744A51E78CD49E6029DcC4404">gemJoin(mCake)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xf57a8cF44104EA0dfbE286781BD1f51533a659F3">clipper(mCake)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x01b39E969A76D2F7c9a8a81EcD1B2F7116b44E23">oracle(mCake)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x3cd434f0A58018B87eF1D2436cb710ca46F0fC43">gemJoin(mwBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xc4857c08295cB9270fEB0a87Fd60b3BFD459a998">clipper(mwBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xAa4912633e4e2F65604Fe7f6A6bA9Eb5EF6D50d0">oracle(mwBETH)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x8B35291ecF29fD36BA405A03C9832725f2E9e164">gemJoin(USDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x63393E8a6Fa3dab6874729AE680B370c0Ca96b2b">clipper(USDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xa53A9a3e496F00bbe3f1247cac88Ea28C2b6B107">oracle(USDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xB53e69b662a2d10343f857eBa9e3b6158Acf632F">gemJoin(asUSDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xe7e8098a724CF4F2f1aCf67b06a17710a52011ac">clipper(asUSDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x53C7024411E5d12C0B17D412943C3Dd5939a2Fb1">oracle(asUSDF)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x68B9A9eA70f4391c016746BE240037E5d4f63807">gemJoin(USD1)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xdeB93441fAc0737321199E84a5F0420931A6562e">clipper(USD1)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xd111f17ff76015152dc5dd59bec74a70b590e72e">oracle(USD1)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x0383D85f4169897a02AEd14Bda2aE5dB38AF7a0f">CollateralListaDistributor(USD1)</a></td></tr><tr><td><a href="https://bscscan.com/address/0xBafB0B5B70A9844Fb9F132ba1C28F888Dd113B34#readProxyContract">BorrowListaDistributor(USD1)</a></td></tr><tr><td><a href="https://bscscan.com/address/0x556D96dFB7BDcf14B73E663CB46669f7826c7B87">cdpLiquidator</a></td></tr><tr><td></td></tr></tbody></table>


# Liquid Staking(slisBNB)


# Mechanics

### ListaStakeManager Introduction

slisBNB is the yield bearing & liquid staking token for Lista. Users can get slisBNB by staking their BNB through ListaStakeManager smart contract which handles the BNB liquid staking on BSC.

<br>

Here are the functionalities provided by ListaStakeManager:

<figure><img src="/files/X1g2Cx8zdtaaphyQg1Xn" alt=""><figcaption></figcaption></figure>

### Stake BNB

Users can stake BNB through ListaStakeManager. In return, they receive a corresponding amount of slisBNB as the liquid staking token (LST), representing their staked assets

<br>

### Minting LST

Upon staking, ListaStakeManager mints slisBNB. slisBNB can be freely traded, transferred, or used in DeFi applications, providing users with liquidity while their original assets remain staked.

<br>

### Earning Rewards from Multiple Validators

The staked BNB generate rewards from multiple validators, which are then aggregated and distributed proportionally to LST holders. This ensures that users benefit from the performance of various validators, potentially increasing the overall yield.

<br>

<figure><img src="/files/hjvTazIqrqbcbcOwN7BP" alt=""><figcaption><p>Unstaking</p></figcaption></figure>

<figure><img src="/files/25jpGfZRrrDzj8rFBxan" alt=""><figcaption><p>Withdraw</p></figcaption></figure>

### Unstaking and Withdraw

Users can initiate withdrawal requests to unstake their assets through the smart contract. Upon receiving a withdrawal request, a bot sends a request to unbond BNB from the validators. After the 7-day unbonding period, the slisBNB tokens will be burned, and users can claim the released BNB through the ListaStakeManager.

### Rebalance

ListaStakeManager allows Bot to periodically rebalance the staked BNB across validators to optimize reliability and reward rates.


# Cross-Chain Bridge

The cross-chain transfer mechanism enables users to transfer tokens seamlessly between different blockchain networks. The process involves locking tokens on the source chain, verifying the transaction through a decentralised network, and minting tokens on the destination chain.

Key components include the ListaOFTAdapter, ListaOFT contracts, LayerZero endpoints, and off-chain services such as the Lista Guardian, Decentralised Verification Network (DVN), and Executor. These components work together to ensure secure, reliable, and efficient cross-chain transfers.

**1. Main Contract Structures**

* ListaOFTAdapter
  * Transfer Limiter: Enforces transfer limits to manage liquidity, prevent spam, and ensure compliance with transfer policies.
  * Emergency Switch: Halts all transactions at the first sign of trouble, providing a sharp measure to avert potential crises.
  * Token Locker: Locks tokens when transferring from BSC to Ethereum and unlocks tokens when transferring from Ethereum to BSC.
* LayerZero
  * LayerZero Endpoint: Facilitates cross-chain communication using the MessageLib library.
* ListaOFT
  * Transfer Limiter: Similar to the one in ListaOFTAdapter, ensuring transfer control on the receiving end.
  * Emergency Switch: Similar to the one in ListaOFTAdapter, providing emergency halting capabilities.

**2. Off-Chain Services**

* Lista Guardian
  * An off-chain service that continuously monitors the cross-chain bridge
  * Halts all cross-chain transactions in case any emergency situation arises
* LayerZero
  * Decentralised Verification Network (DVN)
    * Verification: A network of decentralised nodes that verify cross-chain transactions before execution to ensure their validity and prevent fraudulent activities.
  * Executor
    * Transaction Execution: Commits the verification results from the DVN and executes the lzReceive() method to process the transaction on the destination chain.

\ <br>

**3. Cross-Chain Interaction Flow**

<div data-full-width="true"><figure><img src="/files/hYa7TJpDcIV3RC9HrgPQ" alt=""><figcaption></figcaption></figure></div>

From BSC to Ethereum:

1. User A initiates a transfer by sending a request with amount X of tokens.
2. The ListaOFTAdapter processes the request, applying the Transfer Limiter and Emergency Switch checks.
3. The ListaOFTAdapter locks the amount X of tokens.
4. The request is sent to the LayerZero Endpoint on BSC.
5. The message is broadcast and verified by the Decentralized Verification Network (DVN).
6. Upon verification, the Executor calls lzReceive() on the LayerZero Endpoint on Ethereum.
7. The LayerZero Endpoint on Ethereum forwards the request to the ListaOFT contract.
8. The ListaOFT mints the equivalent amount of tokens to User A's address on Ethereum.

From Ethereum to BSC for User B:

1. User B initiates the transfer with amount Y of tokens.
2. The ListaOFT processes the request, applying the Transfer Limiter and Emergency Switch checks.
3. The ListaOFT burns the amount Y of tokens.
4. The request is sent to the LayerZero Endpoint on Ethereum.
5. The message follows the same path through the DVN and Executor as described for User A.
6. Upon verification, the Executor calls lzReceive() on the LayerZero Endpoint on BSC.
7. The LayerZero Endpoint on BSC forwards the request to the ListaOFTAdapter contract.
8. The ListaOFTAdapter unlocks the equivalent amount of tokens to User B's address on BSC.

**4. Security Measures**

* Transfer Limiter: Ensures proper management of liquidity and prevents malicious transfers by enforcing strict transfer limits.
* Emergency Switch: Acts as a critical safeguard to halt all transactions at the first sign of trouble, preventing any unauthorised minting of tokens. Both emergency switches are controlled by the Lista Guardian, which can halt transactions by switching on the emergency switch on both chains when abnormalities are detected.
* Lista Guardian:
  * Emergency Switch: An off-chain service that can halt transactions during emergencies by switching on the emergency switch on both chains.
  * Continuous Reconciliation: Ensures accurate token supply across chains through all-line reconciliation processes.
  * Large Transfer Alert: Monitors for unusually large transfers to detect and mitigate potential attacks.


# Smart Contract

<table><thead><tr><th width="289">Name</th><th>Contract Address</th></tr></thead><tbody><tr><td>slisBNB</td><td><a href="https://bscscan.com/address/0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B">https://bscscan.com/address/0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B</a></td></tr><tr><td>StakeManager</td><td><a href="https://bscscan.com/address/0x1adB950d8bB3dA4bE104211D5AB038628e477fE6">https://bscscan.com/address/0x1adB950d8bB3dA4bE104211D5AB038628e477fE6</a></td></tr><tr><td>slisBNB on ethereum:</td><td><a href="https://etherscan.io/address/0x44388Ef3bc730BDE8670a3b4831281dd7E89C584">https://etherscan.io/address/0x44388Ef3bc730BDE8670a3b4831281dd7E89C584</a></td></tr><tr><td>slisBNB OFTAdaptor</td><td><a href="https://bscscan.com/address/0x82f5bcD1473BDa5794239D01073797093a413f02">https://bscscan.com/address/0x82f5bcD1473BDa5794239D01073797093a413f02</a></td></tr></tbody></table>


# slisBNBx

## Overview

`SlisBNBxMinter` is a utility contract in Lista DAO's Moolah lending protocol. It is the mint-and-burn engine for `slisBNBx`, a non-transferable certificate token that represents a user's collateral position in Moolah.

`slisBNBx` (formerly `clisBNB`) allows users to keep an active lending position while still participating in Binance Launchpool. The minter enforces token lifecycle rules for issuance, delegation, and burn, so supply stays consistent with collateral at all times.

The legacy CDP system is not supported by this contract.

## Key Value Proposition

Users can deposit `slisBNB` or `slisBNB/BNB LP` as collateral in Moolah and still participate in Binance Launchpool without unwinding their lending position. `slisBNBx` is the non-transferable certificate that proves this collateral stake.

## Contents

* [Token Lifecycle](/for-developer/clisbnb/token-lifecycle)
* [Minting Ratio Logic](/for-developer/clisbnb/minting-ratio-logic)
* [Delegation](/for-developer/clisbnb/delegation)
* [Smart Contract](/for-developer/clisbnb/smart-contract)


# Token Lifecycle

The `slisBNBx` lifecycle is strictly controlled by `SlisBNBxMinter`. Users and external contracts cannot mint directly.

| Step        | Action                                                                                                    | Result                                                      |
| ----------- | --------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------- |
| 1. Deposit  | User deposits `slisBNB` or `slisBNB/BNB LP` into Moolah through the related provider/collateral contract. | Collateral is recorded and provider calls `SlisBNBxMinter`. |
| 2. Mint     | Minter calculates `slisBNBx` using BNB-equivalent collateral value and calls `slisBNBx.mint()`.           | `slisBNBx` is credited to user or delegated address.        |
| 3. Hold     | User holds `slisBNBx` (non-transferable).                                                                 | Holder qualifies for Launchpool participation.              |
| 4. Withdraw | User withdraws collateral from Moolah, fully or partially.                                                | `SlisBNBxMinter` is called for proportional burn.           |
| 5. Burn     | Minter burns `slisBNBx` corresponding to collateral removed.                                              | `slisBNBx` supply is reduced and stays collateral-backed.   |

## Notes

* Minting and burning always follow collateral state.
* Partial withdrawals burn only the proportional amount.
* This lifecycle applies to Moolah integration, not legacy CDP.


# Minting Ratio Logic

Both collateral modules derive gross `slisBNBx` from BNB-equivalent collateral value. Before final distribution, two sequential adjustments are applied:

1. Collateral discount
2. Lista DAO performance fee

## Step 1: Collateral Discount

| Collateral Module                      | Discount Rate | Effect                                                       |
| -------------------------------------- | ------------- | ------------------------------------------------------------ |
| `slisBNB` (via `SlisBNBProvider`)      | `0%`          | Full BNB-equivalent value is used as mint base.              |
| `slisBNB/BNB LP` (via `SmartProvider`) | `0.2%`        | LP BNB-equivalent value is multiplied by `0.998` before fee. |

## Step 2: Performance Fee (Lista DAO)

| Collateral Module                      | Performance Fee | Fee Basis                                              |
| -------------------------------------- | --------------- | ------------------------------------------------------ |
| `slisBNB` (via `SlisBNBProvider`)      | `3%`            | Applied to full BNB-equivalent value.                  |
| `slisBNB/BNB LP` (via `SmartProvider`) | `1.8367%`       | Applied to discounted (`0.998x`) BNB-equivalent value. |

## Formula

### `slisBNB` module

```
gross slisBNBx = slisBNB deposited x slisBNB/BNB exchange rate
Lista fee      = gross slisBNBx x 3%
user slisBNBx  = gross slisBNBx x 97%
```

### `slisBNB/BNB LP` module

```
gross slisBNBx = LP BNB-equivalent x (1 - 0.2%) = LP value x 0.998
Lista fee      = gross slisBNBx x 1.8367%
user slisBNBx  = gross slisBNBx x (1 - 1.8367%)
```




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