Recently, discussions about stablecoins in the community have noticeably increased. One perspective is quite eye-opening — instead of getting tangled in highly volatile assets, it's better to seriously look at new directions in the stablecoin sector.

ListaDAO's USD1 product on the BNB Chain has attracted quite a bit of attention. Data shows that the platform's TVL has already reached $1 billion, which is a significant figure among stablecoin protocols. The core mechanism is straightforward: users can mint USD1 by staking mainstream assets like BNB/ETH/BTC. The entire process has zero slippage, which is still attractive to large-scale users.

How is the yield calculated? Holders can earn an annualized return starting from 18% through staking. Additionally, 30% of the transaction fees flow to LISTA token holders, effectively allowing governance token holders to participate in the protocol's value sharing — a model that has been validated multiple times in DeFi.

In terms of risk control, a collateralization ratio of over 150% is adopted. Theoretically, even if the market experiences significant fluctuations, the liquidation mechanism can remain stable. However, the higher the over-collateralization ratio, the more it suppresses capital efficiency — this is a trade-off.

Stablecoins are never just simple tools; they are the infrastructure of the DeFi ecosystem. Whether USD1 can become the "on-chain dollar" depends on subsequent liquidity building and application ecosystem support. More and more people are paying attention to this sector now.