Binance Announces Upcoming Support for New DeFi Altcoin on the Megadrop Token Launch Platform

Crypto exchange Binance just unveiled the second digital asset that will be supported on its new token launch platform.

In April, the crypto titan launched Binance Megadrop, a platform with airdrops and Web3 quests that gives users early access to assets that are not yet listed on its exchange.

The first crypto project on the token launch platform is the native Bitcoin (BTC) restaking chain BounceBit.

In a new statement, Binance says Megadrop will now feature the asset of open-source liquidity protocol Lista (LISTA).

Lista says it enables users to earn yields on collateralized crypto assets such as BNB and stablecoins and borrow the project’s Lista USD (lisUSD), a new type of asset known as “destablecoin” that uses decentralized and liquid-staked crypto assets as collateral only.

Lista’s destablecoin is not designed to achieve absolute price stability with fiat currencies, but it’s also not supposed to be a fully volatile asset.

“The intent behind Lista DAO is to propose a solution to the capital efficiency problem of overcollateralized stablecoins experience by allowing users to leverage their funds with a collateral debt position (CDP).”

Lista says it is native to the BNB Chain ecosystem but it has plans to expand to multiple chains.

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