In the Ethereum DeFi world, MakerDAO functions like a central bank. Its issued DAI supports the entire ecosystem's financial infrastructure.

Looking at BNB Chain, the situation is a bit different. PancakeSwap's DEX has strong liquidity, and Venus's lending scale is also significant, but there has always been a gap—a lack of a CDP protocol that can truly control asset value transformation. It wasn't until Lista DAO appeared that this gap was filled. This is not just another lending tool, but a step toward a more complete financial ecosystem for the entire chain.

**Why is this so critical? Two reasons.**

First: Control over "money printing rights."

What is the essence of lending protocols like Venus? Essentially, they are "intermediaries." They transfer depositors' funds to those who need to borrow. But MakerDAO and Lista DAO are different—they are "money printers."

Massive BNB assets are accumulated on BNB Chain. How can the value of these assets be released? A mechanism is needed to convert them into a universal circulating currency (USD1 or lisUSD). Lista DAO occupies this position, effectively controlling the credit expansion rights of BNB Chain's native assets. The significance of this power goes far beyond earning interest—it defines "what money is."

Second: Addressing the risks of centralized stablecoins.

BNB Chain previously relied heavily on USDT and BUSD, which are centralized stablecoins with uncontrollable risks. Establishing a decentralized native stablecoin system can reduce systemic risks across the entire ecosystem.