veLISTA

Understanding veLISTA & veToken model

To understand how users can obtain veLISTA and what purpose veLISTA serves, we must first understand what veToken model is. The veTOKEN model, introduced by Curve Finance, is a tokenomics mechanism designed to align incentives and encourage long-term commitment among token holders. In this model, users lock their tokens (referred to as “veTokens”) for a specified period, during which they receive governance power and various rewards. The longer the lock period, the more veTokens they receive, translating to greater voting power and higher rewards.

This system incentivizes users to commit to the protocol for extended periods, fostering stability and aligning their interests with the long-term success of the platform. Hence, Lista’s token locking into veLISTA is inspired by, and functions similarly to, the Curve Finance’s veToken model.

The road to decentralization

During Lista DAO’s transition into our veToken model, governance will be gradually passed on to veLISTA holders. Users will be able to vote on several parameters. However, this shift toward a fully decentralized governance model will be gradual rather than instantaneous.

To ensure system security and prevent malicious actions, the core team will initially retain the power to veto harmful proposals, aligning with our mission to prioritize the best interests 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.

Additionally, once veLISTA is launched, veLISTA holders will begin receiving protocol fees, further incentivizing active participation in governance and the long-term success of Lista DAO.

Lista DAO’s Primary Revenue Sources

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

1. veLISTA early Unlock fees

2. lisUSD borrowing fees

3. ETH withdrawal fees

4. LST rewards and operation Commission fees

Asset	Item	Description	Will veLISTA Holders earn a share?	Status
LISTA	Early Unlock Fee	Users pay a premium in order to claim their locked LISTA before the locking period ends.	Yes	Live
lisUSD	Minting Fee	When users borrow lisUSD, a one-time borrow fee will be charged. Example: If users borrow 101 lisUSD, users will receive 100lisUSD, the borrowing fee is calculated based on 101 lisUSD	Yes	Coming soon
lisUSD	Borrowing Fee	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.	Yes	Live
ETH	Withdrawal Fees	If users wish to withdraw ETH immediately without waiting 7-8 days, they must pay a withdrawal fee.	Yes	ETH: Live
slisBNB	Liquid staking rewards and operation Commission fees	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	Yes	Live

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

Asset	Item	Description	Status
lisUSD	lisUSD Single staking pool	Users who stake lisUSD in this pool will earn lisUSD rewards. By the end of August 2024, LISTA token emissions will be used instead of lisUSD to incentivize this pool instead.	Live
lisUSD	Risk Buffer Fund	A risk buffer for lisUSD is set aside, which serves to cover any potential shortfalls that may happen during black swan events.	Live
Lista DAO	Operational cost	A portion of Lista DAO’s revenue will be set aside for operational costs, which will be calculated manually.	Live