Helio, one of many largest decentralized finance (DeFi) ecosystems on BNB Good Chain, shares particulars of its transformation plan. The corporate will function as Lista DAO, whereas the staking design will likely be written from scratch.
From Helio Cash to Lista DAO
In line with his group’s official announcement, Helio says goodbye to the well-known names Helio Protocol and Synclub and introduces Lista DAO as a brand new idea and model for the ecosystem. This strategic change comes with consolidating its Collateralized Debt Place (CDP) and Liquidity Staking DeFi (LSDfi) choices right into a cohesive imaginative and prescient to construct the most important and most superior stablecoin within the liquid staking phase.
1/ Helio Guardians, in a couple of weeks we’ll say goodbye to Helio and hey to Lista DAO! 🚀$HAY and $SnBNB change into $lisUSD and $lisBNB. Our future governance token will likely be renamed $LISTA 🤩
Oh – we’re additionally increasing to ETHEREUM 😮
🤓👇 https://t.co/hjhuW14OXG pic.twitter.com/MX90Aqsg7p
— Helio Protocol ($HAY) 🔶 (@Helio_Money) November 30, 2023
As a part of the migration to a brand new model and imaginative and prescient, the protocol’s primary soft-pegged destablecoin, HAY and BNB Liquid Staking Token (SnBNB), will likely be renamed to lisUSD and lisBNB, respectively. Helio Protocol’s unreleased governance and ecosystem token HELIO will due to this fact be launched as LISTA within the coming months.
Helio Protocol’s social media platforms will bear an entire rewrite to align with the brand new identification. Regardless of the large rebrand, Helio Protocol’s validator node, Synclub, will retain its identify till additional discover.
Final however not least, Helio Protocol will quickly reveal particulars a few new factors assortment system for the LISTA airdrop, themed across the ‘Cosmic Journey Problem’. The problem goals to offer the neighborhood with a further alternative to acquire a share of the LISTA token.
New mannequin of liquidity administration
Helio protocol, initially launched as a fork of the oldest DeFi MakerDAO, is transferring into a brand new chapter primarily based on the Liquity codebase. This transfer goals to place Lista to change into a extra streamlined, accessible and easy-to-use CDP and LSDfi protocol available on the market.
The group foresees two phases for the transition. Firstly, it’s about to launch a brand new Ethereum-based decentralized software on lista.org, along with the continued operation of the “first” BSC-based dApp on helio.cash. The official mission identify will change to Lista and the group will likely be acknowledged as Lista on all platforms.
Subsequent, the group and neighborhood will proceed to consolidate legacy dApps into lista.org, adopting the Liquity codebase on each the BSC and Ethereum blockchains. The completion of this section will present customers with a unified platform for lisUSD borrowing, staking and liquid staking, and is anticipated to be accomplished within the first quarter of 2024.
Enlargement to Ethereum (ETH) is within the playing cards
As such, regardless of the deep rebranding marketing campaign, the group stays dedicated to one of many key goals of the roadmap, particularly the migration to Ethereum (ETH), the most important sensible contract platform.
Lista DAO will launch concurrently with its launch on Ethereum (ETH), marking a major step in direction of changing into the primary decentralized stablecoin lending protocol within the crypto business.
The Ethereum-based dApp will initially assist Ether (ETH) as collateral, with a lending payment of 0.5% and a minimal collateral ratio of 110% for larger stability of your entire system.
Migration to Lista is anticipated to start in mid-December. The brand new product is poised to take a dominant place within the subject of liquid staking and a brand new technology of decentralized stablecoins.