When it comes to the BNB Chain lending ecosystem, Lista DAO is no longer just a simple DeFi protocol. According to the official description, it is actually a comprehensive infrastructure built around BNB—integrating liquidity staking, CDP minting, and lending into one platform, making it one of the most efficient on-chain lending platforms. Its peak TVL once surpassed $4.3 billion, which clearly indicates that it has evolved from a small tool into a key node in the capital layer.

How should we understand these three functions? Think of them as three pipelines connected to the same water reservoir. First, liquidity staking converts your BNB into tokens like slisBNB or slisBNBx, effectively reactivating assets that were originally locked in staking; then, the CDP function uses these tokens to mint USD1 stablecoins, extracting the value of the underlying assets; finally, the lending module packages this stablecoin liquidity at highly competitive rates, allowing users to directly access it.

For token holders, the process is quite straightforward—stake to obtain tokens, use tokens as collateral, and then borrow stablecoins. The entire process doesn’t require selling your holdings; instead, your position can truly "come alive" through this mechanism. This is especially attractive for users who are long-term bullish on BNB.