Lista USD

Lista USD is an overcollateralized decentralized stablecoin used mainly on BNB Chain that aims to stay pegged to the US dollar. The token was originally issued by Helio Protocol under the name HAY; after Helio merged with the liquid staking project Synclub to form Lista DAO, it took the name lisUSD. The old name in the catalogue identifier comes from this history; according to the official website of Lista DAO, the protocol now runs on the Ethereum mainnet as well as BNB Chain.

Users mint lisUSD by depositing accepted assets such as BNB, ETH, the Lista liquid staking token slisBNB and wBETH into a collateralized debt position (CDP); when they repay their debt, the minted lisUSD is burned and the collateral is released. If the collateral value falls below the set threshold, the position is liquidated. Borrowing interest is paid on minted lisUSD, while lisUSD holders can earn a yield by putting their tokens to work within the protocol. Parameters such as collateral types and interest rates are set by Lista DAO governance.

The dollar peg of lisUSD can be affected by price movements in the collateral assets, especially BNB, the smooth functioning of the liquidation mechanism, liquidity on decentralized exchanges such as PancakeSwap and smart contract security. The Lista USD page on Lzzo.com shows DefiLlama's US dollar reference price; the chart is also built from this source's historical series.