# Lista DAO Annual Report for 2024

**Published by:** [Lista DAO](https://blog.lista.org/)
**Published on:** 2025-01-09
**Categories:** defi, lending, stablecoin, cdp, bnb, lista
**URL:** https://blog.lista.org/lista-dao-annual-report-for-2024

## Content

Key Insights:Lista DAO became the first protocol to have DeFi BNB recognized for Binance LaunchPool, unlocking new liquidity streams for users.Lista DAO’s TVL grew from 110.86 Million to 1.1Billion, is 896.92% up year-to-date, ranking it as the Third-largest protocol on BSC by TVL.Significant increase for BNB staking 1052.21%This year also saw increase in Collateral assets by 718.4%Token Generation Event took place on Binance on June 20th, launching LISTA with initial token supply of 23%.PrimerLista DAO (LISTA) has made 2024 a transformative year, evolving from a DeFi protocol on BNB Chain into a full-fledged liquidity hub. Building on three main pillars — CDP (Collateralized Debt Position), Liquid Staking, and BNBFI — Lista DAO empowers users to maximize capital efficiency while retaining flexibility.Through CDP, users can borrow lisUSD against a variety of collateral assets (BNB, ETH, slisBNB, wBETH, BTCB, etc.). The total collateral in the CDP has already surpassed $550 million, with $57 million of lisUSD in circulation and an overall collateralization ratio of 1,046%.slisBNB, Lista DAO’s liquid staking token, allows BNB holders to earn staking rewards without locking up their funds indefinitely. This has driven Lista DAO’s staked BNB value to $389 million, achieving a combined annual yield of over 39.42% when factoring in Binance Launchpool, liquid staking rewards, and additional DeFi strategies.The newest BNBFi innovation introduces clisBNB, enabling BNB and slisBNB collateralized in the CDP to participate in on-chain Launchpool events. By doing so, users can retain the benefits of both borrowing lisUSD and engaging in Binance launchpool rewards.Backed by a TVL approaching $1 billion, Lista DAO delivers a comprehensive DeFi ecosystem on BNB Chain, combining the user experience of CeFi with the decentralized benefits of on-chain finance.Key MetricsSource from Dune and Lista DAOPerformance AnalysisSource from DuneLista DAO has grown into the third-largest protocol on BSC by TVL, surpassing $1.1 billion. Its CDP and liquid staking segments have surged by 720.95% and 1052.21%, respectively. This impressive growth stems from Lista DAO’s ongoing commitment to innovative liquidity solutions.CDP (Collateral Debt Position)Source from DuneCDP is among the most in-demand features in the crypto space, Lista DAO continues as the second largest lending protocol in BSC after Venus. 2024 witnessed a growth in both the asset collections, collateralized asset TVL and also borrowed lisUSD. Net debt grew 13798.58% and lisUSD Cumulative Borrower increased by 96.06%.CDP Growth DriversMarket Upturn in 2024 With the crypto market rebounding, the demand for lending and borrowing has surged. Users are increasingly seeking ways to leverage their assets at low cost, making CDP-based stablecoin issuance (like Lista DAO’s lisUSD) highly attractive.Innovation Zone in Q2 On May 17, Lista DAO opened the Innovation Zone, broadening collateral options beyond traditional assets (e.g., BNB, ETH, BTCB). This update brought trending LST (Liquid Staking Tokens) and LRT (Liquidity Reward Tokens) — such as weETH, ezETH, and STONE — into the collateral pool. As a result, users gained more flexibility and capital efficiency, enhancing Lista DAO’s competitiveness in the lending market.Upgraded PSM and D3M Mechanisms Lista DAO introduced updated Peg Stability Module (PSM) and D3M mechanics, further stabilizing lisUSD’s peg and boosting liquidity. These upgrades fostered a more robust environment for both borrowers and liquidity providers, contributing to overall CDP expansion.Note: Lista DAO has a Collateralization Ratio around 1,046.11%, signifying a strong risk profile.Liquid stakingSource from Dune and Lista DAOLista DAO continues to be the leading liquid staking protocol for BNB, experiencing its highest-ever growth in 2024 by staking 748,333 BNB, marking a 1062.02% surge in TVL. Lista DAO has amassed over $389 million in staked BNB, delivering a combined annualized yield above 39.42%.Liquid staking Growth DriversExtra Yield Opportunities By staking BNB through Lista DAO, users not only earn standard staking rewards but also unlock additional yields via slisBNB — a liquid staking token that retains liquidity and multiplies earning potential across multiple DeFi strategies.Broad Integration for slisBNB slisBNB is compatible with a growing ecosystem of DeFi partners, including PancakeSwap, Thena Finance, Tranchess, Venus, Karak, Astherus, and more. This wide integration allows holders to supply liquidity, borrow, or yield farm without giving up their staking rewards. For instance, users can re-stake slisBNB via Karak to maximize yield or leverage it on lending platforms for even more capital efficiency.Binance Launchpool Recognition In July, Binance officially recognized slisBNB as a DeFi BNB asset eligible for Launchpool rewards. This milestone attracted fresh capital into the DeFi ecosystem, further boosting slisBNB adoption and yield potential.BNBFiBNBFi represents Lista DAO’s next leap in maximizing BNB capital efficiency, officially introduced in 2024. By enabling both slisBNB (staked BNB) and clisBNB (collateralized BNB) to participate in Binance Launchpool, BNBFi gives users a new level of flexibility and yield potential.clisBNB Supply: The total supply has already reached 460,917.845714 clisBNB with 3,309 holders.slisBNB Uptake: The total number of slisBNB holders soared to 339,513, marking a 2,430.16% increase.This explosive growth stems from BNBFi’s unique mechanism that solves the usual liquidity trade-off for stakers. Overall, BNBFi builds on Lista DAO’s solid foundation in stablecoins (lisUSD) and liquid staking (slisBNB), adding multidimensional yield for BNB holders.veLISTAIn June 2024, Lista DAO introduced the veLISTA model, which quickly gained traction with 2.8 billion veLISTA locked. Throughout the year, the community participated in 12 key proposals. The total number of community rewards were 3,876,312.72 in total, achieving an impressive APR of 54.68%. With the successful activation of gauge voting and the bribe market already in effect, Lista DAO continues to deepen its commitment to decentralization and drive forward the DeFi landscape.SecurityIn 2024, Lista DAO also took key measures to ensure a secure, stable, and transparent environment for the protocol and users.Process Standardization & DocumentationLista DAO established formal Standard Operating Procedures (SOPs) and documentation for smart contracts, front-end, and back-end development and deployment:Smart Contract SOP Checklist From research, development, and code review to testing and auditing, a comprehensive end-to-end framework ensures smooth and secure contract delivery.Contract Standards Core roles are governed via TimeLock contracts and multi-signature wallets to minimize risks. Code standards are unified to reduce errors and streamline management.Multi-sig Usage Guidelines & Access Control List Clear roles and permissions ensure critical operations require multiple sign-offs, mitigating both internal and external threats.Release Flow Front-end and back-end deployment rights are tightly controlled, lowering the likelihood of malicious actions by internal teams.By enforcing SOPs across all development and release stages, Lista DAO significantly reduces human error and ensures a secure, repeatable workflow.High-Risk Bug Fixes from Legacy CodeIn-depth code analysis uncovered potential exploits and permissions oversights that could have led to large-scale asset losses. Early detection and fixes prevented fund vulnerabilities — most notably:A critical bug that allowed collateral to be drained (now fixed).A permission misconfiguration that risked 49 wBETH losses (also remediated).Through continuous reviews and documentation of legacy contracts, Lista DAO has strengthened the foundation of its security posture.Contract SecurityOracle UpgradesA multi-oracle architecture replaced the single-oracle model. Price feeds now incorporate multiple sources (Chainlink, Binance Oracle, RedStone, Pyth) to enhance price accuracy and reliability, reducing the risk of price manipulation.TimeLock GovernanceAll upgrades, permissions, and core roles are managed by a TimeLock contract, adding a robust layer of security that prevents unilateral changes and unexpected updates.Key Parameters ManagementParameters within the CDP system (like collateral ratios and debt ceilings) are clearly defined and tracked, ensuring transparent governance and risk management.Emergency ShutdownA thorough emergency shutdown SOP and monthly drills ensure readiness for critical situations, minimizing reaction time and reducing potential damages.Third-Party Protocol Incident AnalysisLista DAO studies real-world vulnerabilities in other DeFi protocols to learn from each incident and proactively avoid repeating similar mistakes.AuditsBeyond internal and external audits, Lista DAO engages with a WarRoom team to monitor contracts and promptly address any emerging threats or exploits.Infrastructure HardeningLista DAO has implemented multiple security layers to protect infrastructure:AWS WAF for web traffic filteringCDN caching to mitigate DDoS attacksBackup domains in case of domain hijackingAutomatic RPC node switchingComprehensive logging and monitoringDNS hijack monitoringCPU/Memory/Service health checksStandardized CI/CD with enhanced securityThese measures ensure constant availability and protect against a wide range of threats.Monitoring SystemsContract MonitoringDedicated dashboards track on-chain activities and contract metrics in real-time to quickly flag anomalies.Social & Community MonitoringChannels such as X (Twitter), Discord, and Telegram are monitored for reports of suspicious activity or community concerns.Partner MonitoringWarRoom provides an additional layer of vigilance, offering external expertise to detect and address issues swiftly.Account SecurityA strict two-factor authentication (2FA) policy is enforced across critical accounts (GitHub, Gmail, Okta, etc.). For wallets, Ledger hardware solutions help protect digital assets from unauthorized access.Online SOPsThroughout 2024, Lista DAO produced hundreds of production SOPs to ensure each contract deployment or update runs with:Zero errorsZero financial lossesZero security incidentsClosing SummaryAs 2024 draws to a close, Lista DAO stands out as a paragon of growth and innovation within the DeFi landscape on BSC. This year, the Lista DAO celebrated a monumental leap in Total Value Locked (TVL), soaring from $110.86 million to an impressive $1.1 billion — an astounding 896.92% increase, positioning Lista DAO as the third-largest protocol on BSC.Key Achievements:CDP & Liquid Staking: Growth in CDP by 720.95% and liquid staking volumes by 1052.21%, thanks to new collateral options and significant Binance Launchpool integration.BNBFi Launch: The rollout of clisBNB enhanced user engagement, growing its supply to over 460,917 tokens and expanding the user base significantly.Security Enhancements: Strengthened by multi-oracle architecture, TimeLock governance, and continuous audits ensuring robust security and operational excellence.Looking forward, Lista DAO is poised to drive further innovation, focusing on capital efficiency and secure, sophisticated liquidity solutions. As we embrace the future, we remain dedicated to bridging the best of CeFi and DeFi, setting the stage for continued leadership and growth.

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