Beginner: Big shot, I’ve been seeing discussions about the ListaDAO project in the group lately. What exactly does it do?

Veteran: Haha, good question. Simply put, it’s like a "bank + pawnshop" combo on the BNB chain. If you want to earn interest, you deposit BNB, and it helps you generate yields (the banking part); if you need liquidity, you can use BNB as collateral to borrow money (the pawnshop part).

Beginner: Sounds similar to Binance Earn? Is there a fundamental difference?

Veteran: That’s the key. Binance Earn is a "fixed-term" product, meaning you can’t move your funds during the lock-up period. But ListaDAO’s slisBNB is different—it’s a "flexible" concept. You can sell it anytime, use it as collateral anytime, and still earn interest—this flexibility is on a completely different level.

Beginner: I heard it can be used for arbitrage? How does that work?

Veteran: Let’s break down a real example. Suppose you have $1,000 worth of slisBNB. You use it as collateral to borrow $500 USD1 (interest rate only 0.4%). You then deposit that $500 into an exchange to earn 20% interest. After a year, you’ve earned $98 just from the interest spread, and your principal can fluctuate with the BNB price.

Beginner: Sounds good, but what are the risks?

Veteran: To be honest, there are three main risks. First, if BNB experiences a sharp decline, your position could be liquidated. Second, exchanges might lower the interest rates on their financial products at any time, eliminating arbitrage opportunities. Third, smart contracts might have vulnerabilities. However, ListaDAO takes this seriously—its contracts have undergone multiple audits and are equipped with 24/7 risk monitoring. My advice is to start small, like $100, to get a feel for it before increasing your position.

Beginner: Is the $LISTA token worth paying attention to? What’s its use?

Veteran: LISTA has three main functions. First, governance—you can vote on which new assets to list and adjust interest rate parameters. Second, staking rewards—you lock LISTA into veLISTA and receive weekly dividends, with the recent APR around 39%. Third, fee discounts—using LISTA to pay for transaction fees gives you discounts.

Beginner: Isn’t the operation process complicated?

Veteran: Actually, it’s not that complex. There are five steps: connect your wallet → stake BNB to get slisBNB → go to the lending page to use slisBNB as collateral → borrow USD1 → withdraw to the exchange. The entire process takes about five minutes.