Lista (LISTA) is a liquid staking and decentralized stablecoin protocol and Binance announced it as the second project on the recently-launched platform, Binance Megadrop.
Binance Megadrop is a new initiative coming from the crypto exchange that encapsulates its efforts to reinvent the traditional airdrop experience, by boosting user experience, along with providing education and rewards.
What is Lista (LISTA)?
Lista DAO is a liquid staking and decentralized stablecoin protocol and users can undergo staking and liquid staking on Lista, together with borrowing lisUSD against a variety of decentralized collateral.
LISTA is the governance token of Lista DAO and it has various multiple functionalities:
- Governance: LISTA token holders can vote on the protocol’s governance decisions.
- Protocol Incentivization: users can earn LISTA tokens as rewards when they borrow lisUSD against collaterals or when they do liquidity farming in lisUSD and slisBNB pools.
- Voting gauge: users can lock LISTA tokens as veLISTA and vote for the collaterals that they plan on using to mint lisUSD and the liquidity pools that they want to provide LP with higher emissions.
- Fee-sharing: users who lock their LISTA for veLISTA get eligibility for fee sharing.
Lista consists of two major components that work together:
- BNB liquid staking token slisBNB
- Decentralized stablecoin lisUSD
LISTA is a BEP-20 token.
Lista tokenomics
- Total supply of LISTA: as of May 23, 2024, the total supply of LISTA is 1 billion tokens.
- Initial circulating supply of LISTA upon listing: 230 million tokens, meaning 23% of the total supply.
- Binance Megadrop Allocation: the allocation for Binance Megadrop is 100 million tokens, meaning 10% of the total supply
Lista (LISTA) Megadrop and token listing
Binance announced the Lista (LISTA) Megadrop open on May 28. Participation in the Lista Megadrop began on May 30.
Binance will list Lista (LISTA) on June 20 at 10:00 am (UTC). The trading will open with the following trading pairs:
- LISTA/BTC
- LISTA/USDT
- LISTA/BNB
- LISTA/FDUSD
- LISTA/TRY
Binance also announced that the Seed Tag will be applied to LISTA. The Seed Tag replaced the Innovation Zone. It is applied to listings that represent innovative projects that may exhibit higher volatility and risks compared to other listed tokens.
Token Distribution
The LISTA token distribution will be as follows:
- Binance Megadrop: 10% of the total token supply
- Airdrop: 10% of the total token supply
- Investors and advisors: 19% of the total token supply
- Team: 3.5% of the total token supply
- Community: 40% of the total token supply
- DAO Treasury: 8% of the total token supply
- Ecosystem: 9.5% of the total token supply
Token release schedule
The token release for LISTA will begin in January 2025.
Commercial and business development progress
- Pancake Swap: DEX; support lisUSD and slisBNB’s on-chain liquidity and trading
- wBETH: LST; Integrated as the collateral for borrowing lisUSD
- Venus: lending and borrowing; users can deposit lisUSD or slisBNB as collaterals to borrow other listed assets
- APX: Decentralized perpetual exchange; users can deposit lisUSD as a margin to do perpetual trading
- Magpie: Yield and veTokenomics boosting services platform; improving the yield of lisUSD and slisBNB pool on Pancake and Lista
Lista Megadrop Schedule
May 30 12:00:00 (UTC) to June 19 11:59:59 (UTC)
- BNB Locked Products Snapshot Period
To maximize Locked BNB Scores, users received the ability to start locking their BNB in BNB Locked Products before May 30, 00:00:00 (UTC). The hourly snapshots of users’ subscription amounts were taken during this period.
- Web3 Quest Period
Users may complete Web3 Quest(s) during the Quest Period. Binance also listed the first quest which is: “Stake 0.01 BNB in the ListaDAO DApp.”
June 20 06:00:00 (UTC)
This marks the Rewards Distribution during which users may view their Megadrop rewards in Binance Spot Wallet.
What is Binance Megadrop?
Binance launched its innovative platform Binance Megadrop for Web3 projects, and despite being similar to other traditional launchpads, it comes with unique features that trigger increased user participation and engagement.
Binance Megadrop allows users to discover new Web3 projects before these are officially listed on Binance. Early discovery brings potential benefits for users and a chance to be among the first participants in the new ventures.
The discovery of new projects brings potential rewards from their initial growth for users, making this one of the most important attractions for the newly launched Binance platform.
Binance Megadrop brings a mixture of education and rewards, which leads to a user experience that enhances user interaction in the Web3 ecosystem.
Key features of Binance Megadrop
The most important features of Binance Megadrop are the following:
- integration with Binance Services such as Binance Simple Earn and Binance Launchpool
- engagement and education with new opportunities for active participation and learning for users
- early access to tokens before they get listed on the exchange
- a focus on integrating educational elements and interactive tasks to enrich UX
How to participate in Binance Megadrop
Set up an active Binance account and a Web3 Binance Wallet
Users can become a part of Binance Megadrop by having an active Binance account and a Web3 Binance Wallet.
A Binance account can be set up here, and a Web3 Binance wallet can be set up from Binance App.
Existing Binance users have to log in to their accounts and following these steps:
- Open the Binance app, then tap on “Wallets”.
- Switch to the “Web3” tab at the top.
- Tap on “Create Wallet.”
Identity verification is an important step that verifies the user ID, ensuring compliance with regulatory requirements.
Navigate to Megadrop
Users have to open the Binance app and search “Megadrop” option located under the “More” section.
When a list of selected Web3 projects appear, users have to tap on an ongoing project to enter its details page. Under the Quest tab, users can complete various quests to earn points and rewards.
Info including participation period, reward distribution, and coin listing time of the project will appear.
Stake BNB in fixed staking
Users can lock up their BNB for a period of time that can vary between 30, 60, 90, and 120 days. The APY is the highest for the 120-day staking option which means an important difference e in user returns.
When users stake via Megadrop, they can earn points that contribute tot he overall reward potential for specific projects.
Binance recommends choosing the longest available staking period.
Complete tasks
Binance Megadrop brings interactive tasks called Web3 quests that allow user engagement with multiple projects via the Binance Web3 Wallet.
These tasks trigger enhanced user interaction with emerging Web3 technologies, and they are important for accumulating points leading to rewards.
Tasks can involve staking tokens and swapping crypto, for instance. The number of points warded for a quest depends on the complexity of the task.
Completing Web3 quests adds points to the score, and it multiplies the locked BNB score. If the quests are all completed, the final score will be amplified.
The total score is calculated based on the amount and duration of the locked BNB and Web3 quest completion. The rewards a user gets are based on the total score in proportion to the total scores of all qualified users.
Megadrop Points Formula:
total score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus
Keep BTC and BNB on Binance Spot
Spot trading on Binance is a process involving buying and selling crypto such as Bitcoin and BNB. When users trade directly with Binance Spot, cryptos get transferred between buyers and sellers after the completion of the transaction.
To keep BTC and BNB on Binance Spot, users simply have to add funds to their wallets. Having a healthy Spot Wallet Balance involves checking the following:
- readiness for immediate participation by keeping an adequate balance of BTC and BNB in the spot wallet
- diversifying holdings, by keeping a mix of digital assets that meet requirements for tasks and subscriptions
Conclusion
Binance Megadrop represents an ecosystem enhancer that allows users to explore, engage, and earn from various innovative blockchain projects. Exploring Binance’s revolutionary new platform builds a new path into the world of Web3 that’s paved with learning, early access to new projects, and entertaining user engagement.
Binance’s innovative initiative is building a bridge from traditional airdrops toward an interactive ecosystem, eliminating previous gaps. in traditional airdrops that were mainly focused on token distribution only.
Binance Megadrop cultivates a new and more in-depth meaning of what Web3 actually means, highlighting more informed participation for users.
The first project introduced by Binance Megadrop was BounceBit (BB), a Bitcoin restaking chain with an innovative CeDeFi framework. Via a CeFi and DeFi framework, BounceBit is empowering BTC holders to earn yield across multiple sources.
Lista (LISTA) is the second project on the platform, a liquid staking and decentralized stablecoin protocol that will see its token listed later this month.
